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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Horizontal Directional Drilling Market Share
Telecommunication segment holds a significant market share due to increasing demand for high-speed internet and broadband services
The telecommunication segment accounted for the largest horizontal directional drilling market share due to the increasing demand for high-speed internet and broadband services, especially in developing countries. Fibre optic cables are the preferred choice for telecommunication applications, as they offer higher bandwidth, lower attenuation, and better security than copper wires. HDD is an ideal technique for installing fibre optic cables, as it minimises the disruption to the surface and reduces the installation time and cost.
According to horizontal directional drilling market analysis, the utility segment is expected to witness the highest CAGR during the forecast period, owing to the rising demand for energy and water across the globe. HDD is a preferred method for installing utility pipelines and cables, as it offers several advantages over conventional trenching methods, such as lower environmental impact, higher safety, and greater flexibility. HDD is especially suitable for crossing rivers, lakes, roads, railways, and other obstacles that pose challenges for open-cut methods.
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