Horizontal Directional Drilling is a trenchless construction method utilized to install pipelines of various sizes and materials below the ground surface. The trenchless technologies, such as horizontal directional drilling, pipe bursting and slip lining allows the entire water supply and drainage system of a city to be replaced without causing a major traffic jam and incurring the enormous cost of restoring streets and roads. The Horizontal Directional Drilling industry has experienced exponential growth in the past two decades that Horizontal Directional Drilling has become commonplace as a method of installation.
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The key driving factor for the global Horizontal Directional Drilling Market is the continuously evolving oil & gas and infrastructure development sector, which has occasioned in an increased demand for horizontal directional drilling across all economies. The macroeconomic factors, such as thriving industrial activities and up gradation in oil & gas exploration & production activities along with an increase in replacement & upgradation of underground infrastructure in many countries is further boosting the demand for horizontal directional drilling. The significant increase in demand for horizontal directional drilling due to its convenience and environment-friendly operations as compared to conventional vertical maneuvering method is highly anticipated to drive the global horizontal directional drilling market. Moreover, the burgeoning demand for the suitably diffused distribution of electricity and natural gas from the high-capacity intrastate and interstate lines and pipelines are also expected to propel the demand for the horizontal directional drilling. The wide scale application of the horizontal directional drillings, owing to improvement in drilling sensors and global positioning system, has helped attain immense improvement in the drilling process, which is further likely to anticipate an optimistic influence on the market growth. The key restraining factors, such as high cost, complex installation process of horizontal directional drilling and need of highly skilled operators may hinder the global horizontal directional drilling market growth over the forecast period.
Rotary Steerable System technique of the horizontal directional drilling market held the maximum share in 2018, as compared to conventional horizontal directional drillings. On the other hand, among end-user segment, the oil & gas segment is anticipated to see substantial market growth over the forecast period, attributed to increasing exploration & production activities in oil & gas sector across all major oil producing economies.
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The global horizontal directional drilling market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, and South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, MEA is projected to account for a notable market share due to the predominant oil & gas reserves in GCC and neighboring countries. East Asia is anticipated to witness a high growth in the global horizontal directional drilling market owing to the rise in industrial, construction and telecommunication expansion activities. Furthermore, South Asia and Latin America are projected to showcase most enthusiastic growth in the global horizontal directional drilling market due to the rise in the urbanization coupled with a surge in oil & gas consumption across the region. Europe and North America are one of the key matured regions that will create praiseworthy opportunity in the global horizontal directional drilling market over the forecast period due to the existence of significant oil & gas reserves and robust infrastructure.
Horizontal Directional Drilling Market: Prominent players
Prominent players for the global horizontal directional drilling market are Drillto Trenchless Co., Ltd., Prime Drilling GmbH, XCMG Group, Herrenknecht AG, Tracto Technique GmbH & Co. KG, Ditch Witch Ltd., Goodend Machines International, XCMG Group Co., Ltd., Zoomlion ElectroMech India Pvt. Ltd., CNH Industrial America LLC and DE/TXS Construction Equipment Co., Ltd., among other key market players. The horizontal directional drilling market consists of well-diversified global and regional players with the global vendors ruling the global market.
The research report presents a comprehensive assessment of the horizontal directional drilling market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The horizontal directional drilling market report provides analysis and information according to market segments such as technique, application, end user and region.
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Horizontal Directional Drilling Market Growing Demand to Impact Revenue Share during 2019-2029
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