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 market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Horizontal Directional Drilling
Horizontal directional drilling (HDD) is a trenchless procedure used for the installation of underground pipelines, conduits, and cables without the need for traditional open-cut trenching. It involves drilling a horizontal hole beneath the surface of the ground, allowing for the installation of utilities in a controlled and minimally invasive manner. It relies on drilling fluid, which is a mixture of water and additives used to stabilize the borehole and remove excavated material. It employs various equipment, including a drilling rig, drill stem, and specialized tools, such as reamers and mud recycling systems. It significantly reduces the disruption to communities, traffic, and the environment compared to open-cut trenching, making it an essential technique for urban renewal and expansion. It minimizes soil disturbance and reduces the risk of soil erosion and contamination. It also protects aquatic ecosystems by avoiding open trenching near water bodies. It allows for the installation of multiple utilities in a single borehole, increasing efficiency and reducing project timelines.
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.
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What are the growth prospects and trends in the horizontal directional drilling industry?
At present, the increasing utilization of HDD for installing gas, water, sewer, and telecommunications pipelines, as well as electrical and fiber optic cables, without disrupting surface infrastructure represents one of the crucial factors impelling the growth of the market. Besides this, the rising employment of HDD for crossing obstacles, such as rivers, highways, railways, and densely populated areas, wherein open-cut trenching is impractical or disruptive is contributing to the market growth.
In addition, the growing environmental concerns and the imperative to minimize surface disruption during construction activities are increasing the adoption of HDD as a preferred method for trenchless drilling. Apart from this, increasing innovations in drill bits, mud systems, and drilling fluids to enhance the efficiency and precision of HDD operations, enabling contractors to navigate challenging geological conditions with greater ease, are supporting the market growth.
Additionally, the rising incorporation of advanced guidance and tracking systems, such as real-time locating and mapping (RTLM) technologies, to improve the accuracy of borehole placement, reducing the risk of costly errors is strengthening the market growth.
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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