Drilling Waste Management MarketSize and Trends

Figure 1. Global Drilling Waste Management Market (%), By Application

On the basis of application, drilling waste management is segmented into onshore and offshore. In 2022, the onshore application segment was the leading segment with the largest market share in the Global drilling waste management market, owing to its wide operations based on land. Furthermore, onshore drilling offers large options for the storage and transport of oil after the extraction process.

Global Drilling Waste Management Market- Impact of Coronavirus (Covid-19) Pandemic

In 2020, swift spread of COVID-19 largely impacted the global business operations, disrupting the supply chain and impairing various industries. The global trading activities were declined severely owing to the nationwide lockdowns, international border seals, and strict social distancing measures. This had a drastic impact on the global economy, as the companies across the globe were forced to either fully close or partially close their operations, leading to disruption in the supply-demand ratio. Moreover, in 2021 several key markets such as U.S., India, and Brazil among others witnessed a second wave of COVID-19 that further disrupted the market. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

Figure 2. Global Drilling Waste Management Market (%), By Region