The Report “South & Central America Drilling Services Market by Service Type (Drilling Waste Management, Contract Drilling, Logging While Drilling, and Directional Drilling), by Application (Onshore & Offshore) & by Country – Regional Trends & Forecasts to 2019” is estimated to reach $47,889.5 million by 2019, growing at a CAGR of 5.8% from 2014 to 2019.
Browse through the TOC of the South & Central America Drilling Services 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 South & Central America 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 an additional share in Brazil, Argentina, and Venezuela whereas the onshore application share is set to decline. However, the offshore application of directional drilling services is set to constitute a major part of the overall market, which is due to an increase in offshore drilling activities, particularly in the deepwater and the ultra-deepwater regions.
Capital spending by exploration and production companies is on the rise; this trend is expected to continue in the near future. In South & Central America, Brazil and Venezuela lead the E&P spending, which is largely driven by deepwater activities.
The rising energy demand exerts pressure on the field operators to increase the production of oil. As the existing oil & gas reserves are depleting, the need for directional drilling services is gaining its pace. On account of heavy demand for oil and continuous reduction in the replacement of depleting hydrocarbon reservoirs, the offshore drilling services market will experience a tremendous increase in demand in the years to come.
Brazil held the largest market share of 36% in 2014 within the South & Central America drilling services market, followed by Venezuela with a market share of 26%.
The main services in the concerned market are drilling waste management, contract drilling, logging while drilling, and directional drilling. The market has been analyzed in terms of major countries in the South & Central American market, such as Brazil, Argentina, and Venezuela. Offshore is the main application of the South & Central America drilling services market with 52.4% of the market share in 2014. Key players dominant in drilling service market are Schlumberger Ltd. (U.S.), Weatherford International Plc (Ireland), Halliburton Co. (U.S.), and Baker Hughes Inc. (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
