Drilling Waste Management Market registered a revenue of USD 5.4 billion in 2021 and is projected to reach USD 8.5 billion in 2029, growing at a CAGR 5.8% during the forecast period.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing demand of oil & gas worldwide, rapid growth in the exploration & production of shale gas, growing environmental concerns and stringent legal regulations towards effective drilling waste management to reduce water and land pollution is expected to drive the growth of the market. In addition, rising exploration activities in the deep-water and ultra-deep-water area globally is further augmenting the demand for drilling waste management market size.

Moreover, there is a rise in the demand of diesel, natural gas, and other fuel oil among residential and industrial sectors and according to the Energy Information Administration (EIA), the production of natural gas in 2019 has been increased with a CAGR of 2.7%, and in 2019, the global demand for natural gas increased by 1.5% compared to 2018. According to the World Oil, the worldwide E&P expenditures is projected to increase 6.8% in 2021 after witnessing over 25% collapse in 2020. These factors are expected to provide huge growth opportunities to the market growth over the forecast period.

Restraint in the Drilling Waste Management Market

However, falling price of crude oil is expected to hamper the market growth. In addition, high initial investment and lack of skilled labour in the process of drilling waste management is expected to restraint the market growth.

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Application – Segment Analysis

Based on the application, the offshore segment is expected to grow at a significant rate over the forecast period owing to the increasing offshore drilling activities for increasing oil production to down the prices of energy and gas.

Service – Segment Analysis

Based on the service, solids control segment is anticipated to account for a large share in the market. This is primarily due to its efficiency, ease of use, and adoption. Moreover, solids control equipment are used at the surface to remove the unwanted solids and recover the drilling fluid for reuse, this is expected to stimulate the market growth.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a notable share in the market primarily due to the rising oil drilling and extraction activities and increasing government regulations for waste treatment in the oil & gas sector. According to Energy Information Administration (EIA), natural gas was the source of about 31% of the U.S. electric power sector’s primary energy consumption in 2019. Additionally, natural gas was the source of about 20% of commercial sector, 24% of residential sector, and 33% of industrial sector total energy consumption in the U.S. in 2019. This is expected to contribute to the oil & gas market growth, thereby supporting the growth of the drilling waste management market in the region.

Top Market Players

Several Leading players operating in the market, include, Baker Hughes Company, Schlumberger Limited, Eco-Logic Environmental Engineering Inc., GN Solids Control, Halliburton Company, NOV, Inc., SAR AS, Weatherford International Plc, TWMA, and Waste Management Inc. among others. 

Key Developments: 

• • In 2020, Waste Management Inc., completed the acquisition of Advanced Disposal Services, Inc., a company that provides waste management services including drilling waste material handling. The acquisition is expected to deliver sustainable waste management and recycling services to commercial, industrial and residential sectors.

Segments covered in the Report:

The global drilling waste management market has been segmented on the basis of application, service, and key regions. Based on application, the market is segmented into onshore and offshore. Based on service, the market is segmented into solids control, containment & handling, and treatment & disposal. 

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Key questions answered in this research report:

• • At what pace is global Drilling Waste Management Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Drilling Waste Management 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 Drilling Waste Management Market?
  • Which service generated maximum revenues in 2021 and identify the most promising service during the forecast period?
  • What are the various applications of global Drilling Waste Management 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 Revenues (2021)	USD 5.4 Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Application, By Service, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Baker Hughes Company, Schlumberger Limited, Eco-Logic Environmental Engineering Inc., GN Solids Control, Halliburton Company, NOV, Inc., SAR AS, Weatherford International Plc, TWMA, and Waste Management Inc. 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 Drilling Waste Management Market by Application

• • On Shore
  • Off Shore

Global Drilling Waste Management Market by Service

• • Solids Control
  • Containment & Handling
  • Treatment & Disposal

Global Drilling Waste Management Market by Region

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

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

• • Baker Hughes Company
  • Schlumberger Limited
  • Eco-Logic Environmental Engineering Inc.
  • GN Solids Control
  • Halliburton Company
  • NOV, Inc.
  • SAR AS
  • Weatherford International Plc
  • TWMA
  • Waste Management Inc.