GEOSTEERING MARKET ANALYSIS

Geosteering Market Report, By Component (Software and Services), by Tools (LWD Tools & Technologies, MWD Tools, Rotary Steerable Systems (RSS), Drive Systems, and 3D Seismic/Gird Model, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis 2019 – 2027

Published In : Sep 2019
Code : CMI3030
Pages :260
Formats :
Excel and PDF
Industry : Energy

Market Challenges And Opportunities

Stringent regulatory policies and environmental concerns hamper the market growth to certain extent. Increasing demand for oil and gas has led to a surge in drilling and exploration activities across the globe. Moreover, key players are focused on research and development activities, and oil field discoveries. However, continuous exploration activities have raised concerns regarding the potential impact of drilling on public health and environment, due to improper management of oil waste from offshore exploration and production activities. As a result, government organizations are focused on implementing stringent regulatory policies to reduce the environmental impact (air and water quality), protect cultural resources, and reduce wastage of resources. For instance, in October 2016, the Environmental Protection Agency (EPA) finalized air pollution standards for natural-gas drilling to reduce harmful emissions from the oil and natural gas industry.