Measurement While Drilling Market

Introduction of the Measurement While Drilling Market Report

A drilling rig is used to create a borehole or well in the earth’s sub-surface, such as in order to extract natural resources such as gas or oil. MWD is the process by which certain information is measured near the bit and transmitted to surface without interrupting normal drilling operations.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing investments towards technological advancements with an aim to enhance drilling efficiency will stimulate the growth of the market for measurement while drilling. For instance, in August 2018, Schlumberger introduced a new GyroSphere MEMS gyro-while-drilling service which allows the gyrosphere sensor to perform faster gyro surveys compared to conventional systems. This microelectromechanical system technology provides accurate access to smaller reservoir targets and reduces drilling risks by a significant amount. Furthermore, innovations in telemetry methods such as oscillating shear valves allow for reliable data transmission to the surface even in wells subject to high-lost-circulation-material content, heavy vibration, and high flow rates is supporting growth. For instance, Nabor’s AccuDrift measurement while drilling unmanned survey systems provides high-quality data which reduces the non-productive time as compared to traditional wireline survey systems and prevents unwanted drilling events with no crew members on the rig site. In addition, rising focus on directional drilling is another factor which has led to the expansion of the market. Furthermore, as the oil prices gradually recovered, the rig counts increased owing to the surge in onshore and offshore drilling projects. Thus, the rising number of rigs will positively impact the growth of the measurement while drilling market.

Restraint in the Measurement While Drilling Market

However, decreasing funding for the projects is a factor which is likely to hamper the growth of the market.

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Location – Segment Analysis

Based on the location, the offshore segment is anticipated to grow at a higher CAGR in the market over the forecast period. Moreover, directional drilling accounts for the highest market share in the offshore segment, thereby positively influencing the measurement while drilling product demand across the market for measurement while drilling.

Well Type – Segment Analysis

Based on the well type, horizontal segment is anticipated to grow at higher CAGR in the market over the forecast period. This is due to the accuracy in the visualization of the drilling direction in three dimensions and in the determination of bit location, thereby bolstering the growth of the market for measurement while drilling. Rising exploration of untapped resources due to growing oil demand has resulted in increasing unconventional drilling activities.

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Regional – Segment Analysis:

Based on the region, North America region is witnessed to grow at a higher CAGR in the market over the forecast period. The U.S. government is investing in numerous oil and gas unconventional drilling projects in order to boost economic production out of fossil fuels. For instance, in January 2018 U.S. Energy department directed funds worth USD 30.0 million for R&D on unconventional shale development. The selected projects are located at Mississippi and Louisiana estimated to contain around 7.0 million sweet crude oil that can be drilled using advanced techniques such as hydraulic fracturing and horizontal drilling. The usage of these techniques will fuel the market for measurement while drilling.

Top Market Players

Various notable players operating in the market, include, Baker Hughes, a GE Company LLC, Schlumberger Limited., Halliburton, Gyrodata, Weatherford, Nabors Industries Ltd., National Oilwell Valco, Cathedral Energy Services, Jindal Drilling & Industries Ltd., Scientific Drilling International, among others. 

Key Developments:

• • In 2020, Schlumberger Limited. Launched a extraction pilot plant in Nevada, which has helped in the growth of the market.

Segments covered in the Report:

The global measurement while drilling market has been segmented on the basis of location, well type, and regions. Based on location, the market is segmented into onshore and offshore. Based on well type, the market is segmented into horizontal, directional and vertical. 

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Key questions answered in this research report:

• • At what pace is global measurement while drilling market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in measurement while drilling market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global measurement while drilling market?
  • Which location generated maximum revenues in 2020 and identify the most promising location during the forecast period?
  • What are the various well type areas of global measurement while drilling market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Location, By Well Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Baker Hughes, a GE Company LLC, Schlumberger Limited., Halliburton, Gyrodata, Weatherford, Nabors Industries Ltd., National Oilwell Valco, Cathedral Energy Services, Jindal Drilling & Industries Ltd., Scientific Drilling International, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Measurement While Drilling Market by Location

• • Onshore
  • Offshore

Global Measurement While Drilling Market by Well Type

• • Horizontal
  • Directional
  • Vertical

Global Measurement While Drilling Market by Region

• • North America Measurement While Drilling Market (Option 1: As a part of the free 25% customization)
    • North America Measurement While Drilling Market by Location
    • North America Measurement While Drilling Market by Well Type
    • US Measurement While Drilling Market All-Up
    • Canada Measurement While Drilling Market All-Up
  • Europe Measurement While Drilling Market (Option 2: As a part of the free 25% customization)
    • Europe Measurement While Drilling Market by Location
    • Europe Measurement While Drilling Market by Well Type
    • UK Measurement While Drilling Market All-Up
    • Germany Measurement While Drilling Market All-Up
    • France Measurement While Drilling Market All-Up
    • Spain Measurement While Drilling Market All-Up
    • Rest of Europe Measurement While Drilling Market All-Up
  • Asia-Pacific Measurement While Drilling Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Measurement While Drilling Market by Location
    • Asia-Pacific Measurement While Drilling Market by Well Type
    • China Measurement While Drilling Market All-Up
    • India Measurement While Drilling Market All-Up
    • Japan Measurement While Drilling Market All-Up
    • Rest of APAC Measurement While Drilling Market All-Up
  • RoW Measurement While Drilling Market (Option 4: As a part of the free 25% customization)
    • RoW Measurement While Drilling Market by Location
    • RoW Measurement While Drilling Market by Well Type
    • Brazil Measurement While Drilling Market All-Up
    • South Africa Measurement While Drilling Market All-Up
    • Saudi Arabia Measurement While Drilling Market All-Up
    • UAE Measurement While Drilling Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Measurement While Drilling Market All-Up

Major Players Operating in the Measurement While Drilling (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Baker Hughes, a GE Company LLC
  • Schlumberger Limited.
  • Halliburton
  • Gyrodata
  • Weatherford
  • Nabors Industries Ltd.
  • National Oilwell Valco
  • Cathedral Energy Services
  • Jindal Drilling & Industries Ltd.
  • Scientific Drilling International