The Report “Asia Pacific Drilling Service Market by Service Types (Contract Drilling, Directional Drilling, Lwd and Drilling Waste Management), Applications (Onshore & Offshore) & by Countries – Analysis & Forecast to 2019”, is estimated to reach $55,799.9 million by 2019, growing at a CAGR of 3.6% from 2014 to 2019.
Browse through the TOC of the Asia Pacific Drilling Service Market for an analysis of industry trends and segments, with the help of various tables and figures.
Early buyers will receive 10% customization on this report
Directional drilling is most frequently adopted in offshore applications. However, in the Asia-Pacific region, most of the directional wells are drilled onshore. As per the study, in the next five years, the offshore application is expected to gain momentum in the Malaysia, India, Australia, and China markets, whereas the market share of the onshore application is set to decline. However, the offshore application of directional drilling services is set to constitute a major share of the overall market, due to the increase in offshore drilling activity, particularly in the deepwater and the ultra-deepwater regions.
Capital spending by exploration and production companies has been on the rise in recent years and the exploration and production segment is expected to lead the drilling service market in the Asia-Pacific region in coming years. In the Asia-Pacific region, China and Australia lead in terms of E&P spending, largely driven by deepwater activities.
The rising energy demand is exerting pressure on field operators to increase the production of oil. As the existing oil & gas reserves are depleting, the need for directional drilling services is gaining pace. On account of the high demand for oil and gas and the continuous replacement of depleting hydrocarbon reservoirs, the offshore drilling services market will experience a tremendous increase in demand in the years to come.
China held the largest share—that is, 45.4%— of the Asia-Pacific drilling services market in 2014, followed by Indonesia with a market share of 17.9%.
The main services in the concerned market are contract drilling, directional drilling, logging-while-drilling (LWD), and drilling waste management (DWM). The market has been analyzed in terms of major countries in the Asia-Pacific market—namely, Australia, India, China, Malaysia, and Indonesia. The onshore application dominates the Asia-Pacific drilling services market, with a 59.0% market share in 2014. Key players in the drilling service market are Schlumberger (U.S.), Weatherford International (Ireland), Halliburton Co. (U.S.), and Baker Hughes (U.S.).
About MicroMarket Monitor:
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.
Contact:
Mr. Priyank Tiwari
UNIT no 802, Tower No. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-502-0539
Email: sales@micromarketmonitor.com
