Quadintel published a new report on the Horizontal Directional Drilling Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Global Horizontal Directional Drilling Market to reach 12.85 billion by 2027.Global Horizontal Directional Drilling Market is valued approximately USD 8.16 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2021-2027.
Horizontal Directional Drilling (HDD) is a method which involves the installing of underground pipelines, cables and service conduit through trenchless methods. In addition, it drills accurately along the chosen bore path and back ream the required pipe by the use of directional drilling machine and associated attachments.
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Rising usage in underground drains and also it offers high degree of accuracy compared to the conventional methods which is a driving factor for the growth of the market. In May 2021, American augers introduced a new European Electric drilling machine, which is environment-friendly. In June 2021, to increase the energy efficiency through carbon emissions portfolio, Baker Hughes Incorporate invested in Bio-methanation Technology.
Electrochaea technology provided renewable CO2 energy for low-quality grid, low-carbon dioxide (SNG), which contributed to a wide range of complex components, such as mobility and heating. Baker Hughes is anticipated to combine post-carbon dioxide capture technology with Electrochaea bio-methanation technology to develop and market an integrated carbon capture and utilization (CCU) solution.
Heavy investing in renewable resources to reduce carbon footprints and dependence on fossil fuels is hampering the growth of the market. However, government regulations regarding the extension of oil & gas exploration results in the growth of the market in forthcoming period. The regional analysis of Global Horizontal Directional Drilling Market is considered for the key regions such Asia Pacific, North America, Europe, Latin America and Rest of the World.
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Major market player included in this report are: Nabors Industries Ltd The Toro Company The Charles Machine Works, Inc Vermeer Corporation Herrenknecht AG XCMG Company Prime Drilling GmbH American Augers Ditch Witch Vermeer Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the Industrial within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product Partss of key players. The detailed segments and sub-segment of the market are explained below:
By Type: Conventional Rotary Steerable System
By Parts: Rigs Pipes Bits Reamers
By End-user: Oil & Gas Extraction Utility Telecommunication
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By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoASIA PACIFIC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019 Base year – 2020 Forecast period – 2021 to 2027
Target Audience of the Global Horizontal Directional Drilling Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
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The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
What aspects regarding the regional analysis Market are included in this report?
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