The need to increase production from the harshest wells has raised the growth of directional drilling considerably. Market reports related with the energy and power industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is projected to expand with a 3.48 % CAGR in the forecast period.
The global directional drilling market is expected to post a CAGR of over 7% during the period 2019-2023, according to the latest market research report by Technavio.
Increasing investments in offshore projects will drive the directional drilling market growth in the forthcoming years. Offshore drilling projects involve higher capital investments and receive returns on investments over an extended period. Moreover, the cost involved in offshore oil and gas projects has decreased over ... Read more
Directional drilling is an important approach practiced by crude oil manufacturers to reach the toughest wells and optimizing the production from the resource land. Usually, the well is drilled vertically down in the area which is economically infeasible and more inclined to the risk of nonproduction. The directional drilling offers solution for drilling of oil wells at different angles other than vertical angle and assists in ... Read more
