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Global Rotary Steerable Systems Market 2019-2023
SKU ID : TNV-13792990 | Publishing Date : 31-Dec-2018 | No. of pages : 118
About this market
Consolidation of oil and gas companies to drive market growth. To increase market share in a new energy environment where the adoption of alternative fuels and renewable energy sources is increasing, companies have resorted to the organizational restructuring of their business lines. They are opting for mergers and acquisitions. partnerships. and collaboration to cope with the changing oil and gas market conditions. Many large oil and gas companies have acquired other companies for increasing their market share and market position in the oil and gas industry. Companies that engaged in M&A include the following: analysts have predicted that the rotary steerable systems market will register a CAGR of over 7% by 2023.
Market Overview
Increase in investments toward directional drilling
Directional drilling is widely carried out in countries such as the US, Canada, and Saudi Arabia: this has led to the increase in the production of oil and gas from unconventional reserves. The rise in the adoption of directional drilling technologies for unconventional oil and gas production supports the growth of the global rotary steerable systems market.
Environmental concerns associated with the hydraulic fracturing process
Directional drilling has broader applications in hydraulic fracturing due to its application in horizontal drilling. The US is a major region where hydraulic fracturing is taking place at a large scale. However, there are advantages of hydraulic fracturing in the form of increased oil and gas production, but there are also environmental concerns due to methane leaks and water pollution during fracking. It is a potential threat to the entire process.
For the detailed list of factors that will drive and challenge the growth of the rotary steerable systems market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Schlumberger and Weatherford the competitive environment is quite intense. Factors such as the rising investments toward directional drilling and the consolidation of oil and gas companies, will provide considerable growth opportunities to rotary steerable systems manufactures. Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Weatherford are some of the major companies covered in this report.
Consolidation of oil and gas companies to drive market growth. To increase market share in a new energy environment where the adoption of alternative fuels and renewable energy sources is increasing, companies have resorted to the organizational restructuring of their business lines. They are opting for mergers and acquisitions. partnerships. and collaboration to cope with the changing oil and gas market conditions. Many large oil and gas companies have acquired other companies for increasing their market share and market position in the oil and gas industry. Companies that engaged in M&A include the following: analysts have predicted that the rotary steerable systems market will register a CAGR of over 7% by 2023.
Market Overview
Increase in investments toward directional drilling
Directional drilling is widely carried out in countries such as the US, Canada, and Saudi Arabia: this has led to the increase in the production of oil and gas from unconventional reserves. The rise in the adoption of directional drilling technologies for unconventional oil and gas production supports the growth of the global rotary steerable systems market.
Environmental concerns associated with the hydraulic fracturing process
Directional drilling has broader applications in hydraulic fracturing due to its application in horizontal drilling. The US is a major region where hydraulic fracturing is taking place at a large scale. However, there are advantages of hydraulic fracturing in the form of increased oil and gas production, but there are also environmental concerns due to methane leaks and water pollution during fracking. It is a potential threat to the entire process.
For the detailed list of factors that will drive and challenge the growth of the rotary steerable systems market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Schlumberger and Weatherford the competitive environment is quite intense. Factors such as the rising investments toward directional drilling and the consolidation of oil and gas companies, will provide considerable growth opportunities to rotary steerable systems manufactures. Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Weatherford are some of the major companies covered in this report.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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