Horizontal Directional Drilling Industry Analysis Report 2023-2028

by Vikas Chauhan Marketing Research Professional

IMARC Group, a leading market research company, has recently releases report titled “Horizontal Directional Drilling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global horizontal directional drilling industry share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Horizontal Directional Drilling Market?

The global horizontal directional drilling market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

What is Horizontal Directional Drilling?

Horizontal directional drilling (HDD) refers to a trenchless construction method employed for the installation of pipes underground without hampering the ground surface. It involves the usage of a directional drilling machine and various other associated attachments to accurately drill with the chosen bore path and a back ream of the pipe. It is performed by highly trained technicians to manage the drill head and guide the drilling pipe electronically to ensure the angle, depth, and exit point adhere to carefully designed engineering plants. It is significantly more efficient and less disruptive as compared to open-cut methods, which involve the hassle of digging large tracts of earth and removing displaced dirt and slurry. It is performed by drilling a small diameter pilot hole, pre-reaming the pilot hole and enlarging it to a size sufficient to safely incorporate the product lines, and pulling the product pipe into the drill hole. It is ideal wherein trenching requirements need to be avoided, such as under a railroad, an embankment, or a highway. It is a quick and accurate process that allows the operators to accomplish creditable accuracy even when the crossing is complicated. Furthermore, it enables the installation of pipelines under busy city streets and highways without disrupting the flow of traffic and affecting the movement of citizens.

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What are the growth prospects and trends in the Horizontal Directional Drilling Industry?

At present, the increasing demand for HDD techniques, as it is flexible, causes less environmental disturbances, and enables operators to drill beneath lakes and rivers, represents one of the primary factors influencing the market positively. Besides this, rising utility installations in shale gas development projects is propelling the growth of the market. In addition, the growing adoption of HDD techniques for surveying, designing, and constructing underground cables for electrical telecommunication systems, along with the rising availability of high-speed internet connectivity, is offering a favorable market outlook.

Apart from this, the increasing distribution of natural gas and electricity from middle and upper pipelines, coupled with the rising demand for energy to operate various electronic appliances, is contributing to the growth of the market. Additionally, the increasing adoption of HDD for oil exploration and production activities in various unexplored areas around the world is supporting the growth of the market.

Moreover, the rising preference for HDD over other forms of drilling methods due to the increasing environmental consciousness among the masses is strengthening the growth of the market. Furthermore, the rising high-end investments by key market players for technological advancement and accurate prediction and optimization of the rate of penetration of the bore path are bolstering the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Technique:

Conventional
Rotary Steerable System

Breakup by Parts:

Rigs
Pipes
Bits
Reamers

Breakup by Application:

On-shore
Off-shore

Breakup by End User:

Oil and Gas Excavation
Utility
Telecommunication

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Baker Hughes Company, Barbco Inc., China Oilfield Services Limited (China National Offshore Oil Corporation), Ellingson Companies, Halliburton Company, Helmerich & Payne Inc., Herrenknecht AG, Nabors Industries Ltd., NOV Inc., Schlumberger Limited, The Toro Company, Vermeer Corporation and Weatherford International plc.

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