Regional Analysis

North America: U.S. and Canada

Latin America: Brazil, Argentina, Mexico, and Rest of Latin America

Europe: Germany, U.K., France, Italy, Russia, and Rest of Europe

Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific

Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa

North America held a dominant position in the global directional drilling solutions & services market in 2021

Statistics:

North America held dominant position in the global directional drilling solutions & services market in 2021, accounting for 33.0% share in terms of volume, followed by Asia Pacific region

Figure 1: Global Directional Drilling Solutions & Services Market Share (%), By Region, 2021

North America is expected to account for the largest market share for the global directional drilling solutions & services market during the forecast period owing to the rapidly growing petroleum sector in the U.S. and Canada. For instance, according to the U.S. Energy Information Administration (EIA), in August 2018, the U.S. crude oil production exceeded 11.3 million barrels per day, which is further expected to generate demand for directional drilling services for crude oil production in the region. According to the U.S. EIA, the U.S. surpassed Russia and Saudi Arabia in crude oil production in 2018.

Asia Pacific region is expected to gain traction during the forecast period. The countries like China, India, and Indonesia are the leading oil producing nations in Asia Pacific region. Many new reserves have been discovered in the Asia Pacific region. Furthermore, oil industry in Asia Pacific region is led by largest energy companies such as PetroChina, airn Oil & Gas, Vedanta Limited, and others which require drilling solutions and services continuously and hence the demand for directional drilling solutions & services market is expected to show significant growth in the forecast period.

Directional Drilling Solutions & Services Market Report Snapshots