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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Horizontal Directional Drilling Market Growth
Onshore applications facilitate the horizontal directional drilling market growth due to increase in exploration activities
The horizontal directional drilling market is divided into two categories based on HDD applications, namely, onshore and offshore. Onshore activities make use of horizontal directional drilling mechanisms for drilling pipes on land surfaces. On the other hand, offshore activities utilise these techniques for manoeuvring pipes at depths below the seabed.
The onshore application segment is expected to account for a considerable horizontal directional drilling market share, as the onshore area is witnessing an increase in new exploration operations. Furthermore, due to an increasing emphasis on creating the least amount of disturbance to the public in the process of infrastructure development, the onshore segment is expected to witness an increased growth in the forecast period.
Offshore HDD, on the other hand, is mainly used for installing subsea pipelines and cables for oil and gas, telecommunications, and renewable energy sectors. The horizontal directional drilling market estimates that the rising demand for high-speed internet connectivity, and the growing adoption of offshore wind farms are the major factors driving the offshore segment’s growth.
Horizontal Directional Drilling Market Report Snapshots
Horizontal Directional Drilling Market Size
Horizontal Directional Drilling Market Trends
Horizontal Directional Drilling Market Share
Horizontal Directional Drilling Market Growth
Horizontal Directional Drilling Companies
Horizontal Directional Drilling Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the horizontal directional drilling market reached an approximate value of USD 9.93 billion.
The market is expected to grow at a CAGR of 6.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 17.94 billion by 2032.
The key drivers guiding the horizontal directional drilling market growth include the rising discoveries in shale operations, rising demand for energy and fuel in developing countries, booming oil and gas sector, heightened shift towards HDD due to higher precision and low power consumption, and growing infrastructure and utility installations.
Key trends aiding market expansion include rising emphasis on the adoption of eco-friendly drilling mechanisms as well as the increasing research and innovations by the key industry players.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant technique types of horizontal directional drilling include conventional and rotary steerable system.
The significant components include rigs, pipes, bits, and reamers, among others.
The significant applications of HDD are onshore and offshore.
Key players in the market are American Augers, Inc., Ellingson Companies, Herrenknecht AG, Ferguson Michiana Inc., Creighton Rock Drill Ltd., and others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124