Measurement While Drilling Market size, share & Forecast 2028

 

The Measurement While Drilling Market is estimated to grow at a robust CAGR over the forecast period (2021-2028).

The factors driving growth of the Measurement While Drilling Market includes rising focus of oilfield service companies on discovering new reserves of hydrocarbons, growing production of shale gas, increase in the prices of crude oil around the world and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufactures, emerging need to monitor wellbore conditions during drilling process, rise in the launch of innovative drilling equipment and rapid urbanization, are some of the additional factors supplementing the Measurement While Drilling Market share. In addition, the increasing investments by major companies on research and development, strategic partnerships, and collaborations between enterprises, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.  

However, growth of the Measurement While Drilling Market is hindered due to growing uncertainties in the international market.

Nabors Industries Ltd., National Oilwell Valco, Cathedral Energy Services, Baker Hughes, a GE Company LLC, Schlumberger Limited, Jindal Drilling & Industries Ltd., Scientific Drilling International, Halliburton, Gyrodata, and Weatherford are a few of the major companies active in the measurement while drilling market.

Based on Location, the Offshore segment is predicted to grow at a significant CAGR during the forecast period

Offshore drilling enhances the production of oil and gas, minimizes tax liabilities, and creates job in the economy, are some of the factors pushing growth of the segment.

Based on Well Type, the Horizontal segment is projected to grow art a robust CAGR over the forecast period

Increase in the exploration of untapped resources owing to increasing demand for oil, is propelling segment’s growth. 

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

Presence of enormous unconventional oil and gas basins across Canada, growing adoption of advanced technologies by manufacturers, rapid industrialization, increasing investments by Governments in oil and gas unconventional projects and high per capita incomes, are some of the important factors augmenting the market growth in North American region.  

 

Key Development

• In 2020, Schlumberger Limited., introduced extraction pilot plant in Nevada, which has helped the company to expand its presence in the market.

 

Market Segmentation

Segmentation by Location

• Onshore
• Offshore

Segmentation by Well Type

• Horizontal
• Directional
• Vertical

Segmentation by Region

• Asia Pacific
  • China
  • Japan
  • India
  • Rest of APAC
• North America
  • United States of America
  • Canada
• Europe
  • United Kingdom
  • Germany
  • France
  • Spain
  • Rest of Europe
• RoW
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE

 

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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