Measurement While Drilling Market Size, Industry Analysis Report By Location (Onshore, Offshore), By Well type (Horizontal, Vertical, Directional) & Region - Forecasts By 2033
- PUBLISHED ON
- 2022-10-08
- NO OF PAGES
- 234
- CATEGORY
- Machinery & Heavy Industry
Market Overview
The Global Measurement While Drilling Market valued at USD 13,470 million in 2022 is anticipated to reach a value of USD 24,570 million in 2033, growing at a CAGR of 7.8%.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 13,470 Million |
Market Forecast in 2033 | USD 24,570 Million |
CAGR % 2023-2033 | 7.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Location, end-user industry, company share, company heatmap, company Well Type Technology Location capacity, growth factors and more |
Segments Covered | Location, Well Type |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Schlumberger, Halliburton, Weatherford International Ltd., Cathedral Energy Services, National Oilwell Varco, Gyrodata, Scientific Drilling International, Leam Drilling Systems LLC, Jindal Drilling & Industries Ltd., Nabors Industries Ltd., and Calmena Energy Services. |
Measurement While Drilling Market: Description
Measurement-While-Drilling (or M.W.D.) is known to be a form of well logging that includes the measurement tools into the drill string and offers real-time information to aid with steering the drill. Major factors that are expected to boost the growth of the measurement while drilling (M.W.D.) market in the forecast period are a rise in the onshore and offshore drilling projects and an increase in the number of ultra-deep drilling activities around the world. Furthermore, the increase in the need for technologically advanced tools that function optimally in high-pressure and high temperature (HPHT) conditions is further anticipated to propel the growth of the measurement while drilling (M.W.D.) market.
The significant growth can be attributed to the rising oil and gas exploration activities over the projected period. Rising energy demand has led to heavy dependence on conventional fuels. Thus, the growing trend has led the key market players to increase their exploration activities for unconventional sources such as tight and shale gas in order to meet the increasing energy demand. This, in turn, has propelled the growth of the market for measurement while drilling (MWD). Measurement while drilling tools provide real-time bottom-hole pressure and temperature, with directional survey data, and drilling parameters.
Oilfield equipment rental services will positively impact the growth of the market for measurement while drilling. Key industry participants can enhance their drilling capabilities through rental equipment and tools without rising monthly costs. Companies offer measurement while drilling supplies such as mud pulse and gamma-ray measurement while drilling kits, allowing operators to take benefit of new developments at a reasonable price.
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.
Measurement While Drilling Market- Segmental Analysis:
Location Insights
The onshore location segment accounted for a revenue share of 56.9.0%, owing to its extreme onshore drilling activities.
Well Type Insights
The horizontal drilling segment held the largest revenue share of 26.7%. The segment is anticipated to witness a CAGR of 6.1% over the projected period. It requires 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.
Regional Insights
The Global Measurement While Drilling Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa. North America accounted for the largest revenue share occupying 21.9%. Increasing exploration activities for untapped resources due to rising oil demand has resulted in increasing unconventional drilling activities. As numerous known reserves of oil and natural gas cannot be recovered by conventional means, hence the adoption of advanced technologies such as measurement while drilling will reduce the cost of exploration activities and enhance recovery efficiency associated with oil sands, tar sands, unconventional gas, and shale gas.
Competitive Analysis
Schlumberger, Halliburton, Weatherford International Ltd., Cathedral Energy Services, National Oilwell Varco, Gyrodata, Scientific Drilling International, Leam Drilling Systems LLC, Jindal Drilling & Industries Ltd., Nabors Industries Ltd., and Calmena Energy Services.
· In March 2019, Italian company Eni awarded the drilling contract to TechnipFMC for developing the offshore Merakes gas field in Indonesia using advanced unconventional drilling techniques.
· 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 in 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.
Measurement While Drilling Market- Segmental Analysis
Based on Location
•Onshore
•Offshore
Based on Well type
•Horizontal
•Vertical
•Directional
1. Global Measure While Drilling Market Introduction and Market
Overview
1.1.
Objectives of the Study
1.2.
Global Measure While Drilling
Market Scope and Market Estimation
1.2.1.Global Measure
While Drilling Overall Market Size, Revenue (US$ Mn) and Volume (Tons), Market
CAGR (%), Market forecast (2023 - 2033)
1.2.2.Global Measure
While Drilling Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033
1.3.
Market Segmentation
1.3.1.Location
of Global Measure While Drilling Market
1.3.2.Well
Type of Global Measure While Drilling Market
1.3.3.Region
of Global Measure While Drilling Market
2. Executive Summary
3. Market Factor Analysis
3.1. Global Measure While
Drilling Market Application Trends under COVID-19 Outbreak
3.1.1.Global
COVID-19 Status Overview
3.1.2.Influence
of COVID-19 Outbreak on Global Measure While Drilling Market Application
Development
3.2. Market Dynamics
3.2.1.Drivers
3.2.2.Limitations
3.2.3.Opportunities
3.2.4.Impact
Analysis of Drivers and Restraints
3.3. Value Chain/ Ecosystem
Analysis
3.3.1.Manufacturers
/ Vendors
3.3.2.Distributors
3.3.3.Buyers /
End-users
3.3.4.Forward
Integration & Backward Integration of Key Stakeholders
3.4. Global Measure While
Drilling Market - Pricing Trends Analysis & Average Selling Prices (ASPs)
3.5. Porter’s Five Forces
Analysis
3.5.1.Bargaining
Power of Suppliers
3.5.2.Bargaining
Power of Buyers
3.5.3.Threat
of Substitutes
3.5.4.Threat
of New Entrants
3.5.5.Competitive
Rivalry
3.6. PEST Analysis
3.6.1.Political
Factors
3.6.2.Economic
Factors
3.6.3.Social
Factors
3.6.4.Technological
Factors
3.7. Impact of Russia Ukraine
War on Measure While Drilling Market
3.8. Impact of Economic
Downturn on Measure While Drilling Market
3.9. Measure While Drilling Production
Capacity, by Major Countries
3.10. Market Investment
Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
4. Global Measure While
Drilling Market Estimates & Forecast Trend Analysis, by Location
4.1.
Global Measure While Drilling Market
Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Location, 2019 to 2033
4.1.1. On Shore
4.1.2.Off Shore
5. Global Measure While
Drilling Market Estimates & Forecast Trend Analysis, by Well Type
5.1.
Global Measure While Drilling
Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Well Type, 2019 to 2033
5.1.1. Horizontal
5.1.2.Vertical
5.1.3.Directional
6. Global Measure While
Drilling Market Estimates & Forecast Trend Analysis, by Region
6.1.
Global Measure While Drilling
Market Revenue (US$ Mn) and Volume (Tons) Estimates and Forecasts, by Region,
2019 to 2033
6.1.1.North
America
6.1.2.Europe
6.1.3.Asia
Pacific
6.1.4.Middle East & Africa
6.1.5.South
America
7. North America Measure While Drilling Market:
Estimates & Forecast Trend Analysis
7.1. North America Measure While Drilling Market Assessments & Key
Findings
7.1.1.Measure
While Drilling Market Introduction
7.1.2.Measure
While Drilling Market Size Estimates and Forecast (US$ Million & Tons) (2019
– 2033)
7.1.2.1.
By Well Type
7.1.2.2.
By Location
7.1.2.3.
By Country
7.1.2.3.1.
The U.S.
7.1.2.3.2.
Canada
7.1.2.3.3.
Mexico
8. Europe Measure While Drilling Market:
Estimates & Forecast Trend Analysis
8.1.
Europe Measure While Drilling
Market Assessments & Key Findings
8.1.1.Measure
While Drilling Market Introduction
8.1.2.Measure
While Drilling Market Size Estimates and Forecast (US$ Million & Tons) (2019
– 2033)
8.1.2.1.
By Well Type
8.1.2.2.
By Location
8.1.2.3.
By Country
8.1.2.3.1.
Italy
8.1.2.3.2.
Germany
8.1.2.3.3.
U.K.
8.1.2.3.4.
France
8.1.2.3.5.
Spain
8.1.2.3.6.
Rest of Europe
9. Asia Pacific Measure While Drilling Market:
Estimates & Forecast Trend Analysis
9.1.
Asia Pacific Market Assessments
& Key Findings
9.1.1.Measure
While Drilling Market Introduction
9.1.2.Measure
While Drilling Market Size and Volume Estimates and Forecast (US$ Million &
Tons) (2019 – 2033)
9.1.2.1.
By Well Type
9.1.2.2.
By Location
9.1.2.3.
By Country
9.1.2.3.1.
China
9.1.2.3.2.
Japan
9.1.2.3.3.
India
9.1.2.3.4.
Australia
9.1.2.3.5.
South Korea
9.1.2.3.6.
ASEAN
9.1.2.3.7.
Rest of Asia Pacific
10. Middle East & Africa Measure While Drilling Market: Estimates & Forecast Trend Analysis
10.1. Middle East & Africa Market Assessments & Key Findings
10.1.1.
Measure While Drilling Market
Introduction
10.1.2.
Measure While Drilling Market
Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2033)
10.1.2.1.
By Well Type
10.1.2.2.
By Location
10.1.2.3.
By Country
10.1.2.3.1. U.A.E.
10.1.2.3.2. Saudi Arabia
10.1.2.3.3. Egypt
10.1.2.3.4. South Africa
10.1.2.3.5. Rest of Middle East & Africa
11. South America Measure While Drilling Market:
Estimates & Forecast Trend Analysis
11.1. South America Market Assessments & Key Findings
11.1.1.
Measure While Drilling Market Introduction
11.1.2.
Measure While Drilling Market
Size and Volume Estimates and Forecast (US$ Million & Tons) (2019 – 2033)
11.1.2.1.
By Well Type
11.1.2.2.
By Location
11.1.2.3.
By Country
11.1.2.3.1. Brazil
11.1.2.3.2. Argentina
11.1.2.3.3. Colombia
11.1.2.3.4. Rest of South America
12.
Competition Landscape
12.1. Measure While Drilling Market Competition Matrix & Benchmarking,
by Leading Players / Innovators / Emerging Players / New Entrants
12.2. Measure While Drilling Market Competition White Space Analysis, By End-user
12.3. Measure While Drilling Market Competition Regional Intensity Map
Analysis, By Geographies Served
12.4. Measure While Drilling Market Concentration & Company Market
Shares (%) Analysis, 2022
13.
Company Profiles
13.1.Schlumberger
13.1.1.
Company Overview & Key
Stats
13.1.2.
Financial Performance &
KPIs
13.1.3.
Product Portfolio
13.1.4.
Business Strategy & Recent Developments
* Similar details would be provided for all the players
mentioned below
13.2.Halliburton
13.3.Weatherford International Ltd
13.4.Cathedral Energy Services
13.5.National Oilwell Varco
13.6.Gyrodata
13.7.Scientific Drilling International
13.8.Leam Drilling Systems LLC
13.9.Jindal Drilling & Industries Ltd n
13.10.
Others**
14.
Research Methodology
14.1.
External Power
Outputs / Databases
14.2.
Internal
Proprietary Database
14.3.
Primary
Research
14.4.
Secondary
Research
14.5.
Assumptions
14.6.
Limitations
14.7.
Report
FAQs
15.
Research Findings & Conclusion
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global Measurement While Drilling Market valued at USD 13,470 million in 2022 is anticipated to reach a value of USD 24,570 million in 2033, growing at a CAGR of 7.8%.
What are the drivers shaping various markets?
The significant growth can be attributed to the rising oil and gas exploration activities over the projected period. Rising energy demand has led to heavy dependence on conventional fuels. Increasing investments towards technological advancements with an aim to enhance drilling efficiency will stimulate the growth of the market for measurement while drilling.
Who are the key competitors of market Players?
Some of the major players operating within the market are Schlumberger, Halliburton, Weatherford International Ltd., Cathedral Energy Services, National Oilwell Varco, Gyrodata, Scientific Drilling International, Leam Drilling Systems LLC, Jindal Drilling & Industries Ltd., Nabors Industries Ltd., and Calmena Energy Services.
What are the top performing segments, and countries / regions of each of the markets?
The Global Measurement While Drilling Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa. North America accounted for the largest revenue share occupying 21.9%. Increasing exploration activities for untapped resources due to rising oil demand has resulted in increasing unconventional drilling activities.
}})
Select a license type that suits your business needs
US $4750
Only Four Thousand Seven Hundred Fifty US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $5750
Only Five Thousand Seven Hundred Fifty US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $7750
Only Seven Thousand Seven Hundred Fifty US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI