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Logging While Drilling Market Size, Industry Analysis Report By Application (On-shore Application, Off-shore Application), By Service (Rotary Steerable Systems (RSS), Logging While Drilling, Measurement While Drilling and Survey, Motor (MUD Motors)), By Type (Conventional, Rotary Steerable Systems) & Region - Forecasts By 2033

  • PUBLISHED ON
  • 2024-09-27
  • NO OF PAGES
  • 252
  • CATEGORY
  • Energy & Power

Market Overview

Global Logging While Drilling Market is valued at USD 10,740 million in 2023 is anticipated to reach a value of USD 15,050 million in 2033, growing at a CAGR of 4.3%.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 10,740 Million

Market Forecast in 2033

USD 15,050 Million

CAGR % 2023-2033

4.3%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product Type, end-user industry, company share, company heatmap, company Application Technology Type capacity, growth factors and more

Segments Covered

Type, Application, Service

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

Baker Hughes Incorporated, National Oilwell Varco, Weatherford International Plc., Schlumberger Ltd., and Halliburton Company, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, and Gyrodata.

Logging While Drilling Market: Description

Drilling in a specific direction is a common strategy used by crude oil producers to reach the most difficult wells and maximize production from the available acreage. The well is usually drilled vertically down into the ground, which increases the risk of nonproduction and is economically unfeasible. Logging while drilling is a technique that allows oil wells to be drilled at angles other than vertical, allowing for better oil and gas reserves.

Despite technological developments, directional drilling has remained a hot topic among oil upstream companies due to the uses of this technique, which include drilling at many angles in the field and collecting oil. Given the increased production from the end-use sector combined with the growing shale revolution, the oil and gas logging while drilling business is predicted to have tremendous potential from increasing projects over the forecast period.

Drilling in a specific direction is a common strategy used by crude oil producers to reach the most difficult wells and maximize production from the available acreage. The well is usually drilled vertically down into the ground, which increases the risk of nonproduction and is economically unfeasible.

With the United Nations predicting world population growth from 6.7 billion in 2011 to 8.7 billion by 2035, demand for energy must increase considerably over that period. Both population growth and increasing standards of living for many people in developing countries will cause strong growth in energy demand. Over 70% of the increased energy demand is from developing countries, led by China and India. United Nations Organizations (UNO) projections indicate an ongoing trend of urbanization, from 52% in 2011 to 62% in 2035 and reaching 70% worldwide by 2050.

The government regulations regarding oil & gas field developments are highly strict. For instance, on May 22, 2013, the European Union (EU) Parliament approved a new law on the safety of oil & gas operations. According to the law, before commencing any drilling operations in EU waters, oil & gas companies have to submit a special report on possible hazards. They also need to provide internal emergency response plans with full details of the available equipment and resources, along with what actions it will take in the consequence of an accident. The new directive also recommends all the EU member states to prepare external emergency response plans that cover all offshore drilling installations within their territory.

Logging While Drilling Market- Segmental Analysis:

Type Insights

The Conventional segment accounted for a significant revenue share in 2022 and is anticipated to grow at a significant CAGR.

Application Insights

Onshore segment is expected to dominate the Logging While Drilling market during the forecast period.

Service Industry Insights

The rotary steerable system segment is expected to grow at the highest CAGR during the forecast period.

Regional Insights

The Global Logging While Drilling Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa.

North America to account for the largest market size during the forecast period. Tight oil and shale gas are emerging as an important new source of energy supply in the US and Canada. Technological advancements in drilling such as long-reach horizontal well bores and completion techniques such as multi-stage hydraulic fracturing are increasing the implementation of this service in the North America region.

Competitive Analysis

Baker Hughes Incorporated, National Oilwell Varco, Weatherford International Plc., Schlumberger Ltd., and Halliburton Company, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, and Gyrodata Incorporated among others.

·         Trenchless Engineering Services Pvt. Ltd. constructed a horizontal direction drill for a gas pipeline that was laid 140 meters below ground level in 2015. Low price trends, on the other hand, have stifled directional drilling initiatives, and many have been suspended, with the hope of resuming once oil prices have recovered.

Logging While Drilling Market- Segmental Analysis

Based on Application

• On-shore Application

• Off-shore Application

Based on Service

• Rotary Steerable Systems (RSS)

• Logging While Drilling

• Measurement While Drilling and Survey

• Motor (MUD Motors)

• Others

Based on Type

• Conventional

• Rotary Steerable Systems

 

1.      Global Logging While Drilling Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Logging While Drilling Market Scope and Market Estimation

1.2.1. Global Logging While Drilling Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2023 - 2033)

1.2.2. Global Logging While Drilling Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2033

1.3.    Market Segmentation

1.3.1. Type of Global Logging While Drilling Market

1.3.2. Application of Global Logging While Drilling Market

1.3.3. Service of Global Logging While Drilling Market

1.3.4. Region of Global Logging While Drilling Market

2.      Executive Summary

2.1.    Global Logging While Drilling Market Industry Trends under COVID-19 Outbreak

2.1.1. Global COVID-19 Status Overview

2.1.2. Influence of COVID-19 Outbreak on Global Logging While Drilling Market Industry Development

2.2.    Market Dynamics

2.2.1. Drivers

2.2.2. Limitations

2.2.3. Opportunities

2.2.4. Impact Analysis of Drivers and Restraints

2.3.    Pricing Trends Analysis & Average Selling Prices (ASPs)

2.4.    Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

2.5.    Porter’s Five Forces Analysis

2.5.1. Bargaining Power of Suppliers

2.5.2. Bargaining Power of Buyers

2.5.3. Threat of Substitutes

2.5.4. Threat of New Entrants

2.5.5. Competitive Rivalry

2.6.    Value Chain / Ecosystem Analysis

2.7.    Russia-Ukraine War Impacts Analysis

2.8.    Economic Downturn Analysis

2.9.      Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Region

3.      Global Logging While Drilling Market Estimates & Historical Trend Analysis (2019 - 2022)

4.      Global Logging While Drilling Market Estimates & Forecast Trend Analysis, by Type

4.1.   Global Logging While Drilling Market Revenue (US$ Mn) Estimates and Forecasts, by Type, 2019 to 2033

4.1.1. Conventional

4.1.2. Rotary Steerable Systems

5.      Global Logging While Drilling Market Estimates & Forecast Trend Analysis, by Application

5.1.    Global Logging While Drilling Market Revenue (US$ Mn) Estimates and Forecasts, by Application, 2019 to 2033

5.1.1. On-shore Application

5.1.2. Off-shore Application

6.      Global Logging While Drilling Market Estimates & Forecast Trend Analysis, by Service

6.1.    Global Logging While Drilling Market Revenue (US$ Mn) Estimates and Forecasts, by Service, 2019 to 2033

6.1.1. Rotary Steerable Systems (RSS)

6.1.2. Logging While Drilling

6.1.3. Measurement While Drilling and Survey

6.1.4. Motor (MUD Motors)

6.1.5. Others

7.      Global Logging While Drilling Market Estimates & Forecast Trend Analysis, by Region

7.1.    Global Logging While Drilling Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2033

7.1.1. North America

7.1.2. Europe

7.1.3. Asia Pacific

7.1.4. Middle East & Africa

7.1.5. South America

8.      North America Logging While Drilling Market: Estimates & Forecast Trend Analysis

8.1.    North America Logging While Drilling Market Assessments & Key Findings

8.1.1. North America Logging While Drilling Market Introduction

8.1.2. North America Logging While Drilling Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

8.1.2.1.   By Type

8.1.2.2.   By Application

8.1.2.3.   By Service

8.1.2.4.   By Country

8.1.2.4.1.     The U.S.

8.1.2.4.2.     Canada

8.1.2.4.3.     Mexico

9.      Europe Logging While Drilling Market: Estimates & Forecast Trend Analysis

9.1.    Europe Logging While Drilling Market Assessments & Key Findings

9.1.1. Europe Logging While Drilling Market Introduction

9.1.2. Europe Logging While Drilling Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

9.1.2.1.   By Type

9.1.2.2.   By Application

9.1.2.3.   By Service

9.1.2.4.        By Country

9.1.2.4.1.     Germany

9.1.2.4.2.     U.K.

9.1.2.4.3.     France

9.1.2.4.4.     Italy

9.1.2.4.5.     Spain

9.1.2.4.6.     Russia

9.1.2.4.7.     Rest of Europe

10.  Asia Pacific Logging While Drilling Market: Estimates & Forecast Trend Analysis

10.1.  Asia Pacific Market Assessments & Key Findings

10.1.1.   Asia Pacific Logging While Drilling Market Introduction

10.1.2.   Asia Pacific Logging While Drilling Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

10.1.2.1.    By Type

10.1.2.2.    By Application

10.1.2.3.    By Service

10.1.2.4.    By Country

10.1.2.4.1. China

10.1.2.4.2. Japan

10.1.2.4.3. India

10.1.2.4.4. Australia

10.1.2.4.5. South Korea

10.1.2.4.6. ASEAN

10.1.2.4.7. Rest of Asia Pacific

11.  Middle East & Africa Logging While Drilling Market: Estimates & Forecast Trend Analysis

11.1.  Middle East & Africa Market Assessments & Key Findings

11.1.1.   Middle East & Africa Logging While Drilling Market Introduction

11.1.2.   Middle East & Africa Logging While Drilling Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

11.1.2.1.    By Type

11.1.2.2.    By Application

11.1.2.3.    By Service

11.1.2.4.    By Country

11.1.2.4.1. U.A.E.

11.1.2.4.2. Saudi Arabia

11.1.2.4.3. Egypt

11.1.2.4.4. South Africa

11.1.2.4.5. Rest of Middle East & Africa

12.  South America Logging While Drilling Market: Estimates & Forecast Trend Analysis

12.1.  South America Market Assessments & Key Findings

12.1.1.   South America Logging While Drilling Market Introduction

12.1.2.   South America Logging While Drilling Market Size Estimates and Forecast (US$ Million) (2019 – 2033)

12.1.2.1.    By Type

12.1.2.2.    By Application

12.1.2.3.    By Service

12.1.2.4.    By Country

12.1.2.4.1. Brazil

12.1.2.4.2. Argentina

12.1.2.4.3. Colombia

12.1.2.4.4. Rest of South America

13.  Competition Landscape

13.1.  Global Logging While Drilling Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

13.2.  Global Logging While Drilling Market Competition White Space Analysis, By End-user

13.3.  Global Logging While Drilling Market Competition Heat Map Analysis, By End-user

13.4.  Global Logging While Drilling Market Concentration & Company Market Shares (%) Analysis, 2022

14.  Company Profiles

14.1.                     Baker Hughes Incorporated

14.1.1.   Company Overview & Key Stats

14.1.2.   Financial Performance & KPIs

14.1.3.   Product Portfolio

14.1.4.   Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

14.2.      National Oilwell Varco

14.3.      Weatherford International Plc.

14.4.      Schlumberger Ltd.

14.5.      Halliburton Company

14.6.      Nabors Industries Ltd.

14.7.      Cathedral Energy Services Ltd.

14.8.      Jindal Drilling & Industries Limited

14.9.      Gyrodata

14.10.  Others**

15.  Research Methodology

15.1.  External Transportations / Databases

15.2.  Internal Proprietary Database

15.3.  Primary Research

15.4.  Secondary Research

15.5.  Assumptions

15.6.  Limitations

15.7.  Report FAQs

16.  Research Findings & Conclusion

 

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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




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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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 Logging While Drilling Market is valued at USD 10,740 million in 2023 is anticipated to reach a value of USD 15,050 million in 2033, growing at a CAGR of 4.3%.

What are the drivers shaping various markets?

Despite technological developments, directional drilling has remained a hot topic among oil upstream companies due to the uses of this technique, which include drilling at many angles in the field and collecting oil. Given the increased production from the end-use sector combined with the growing shale revolution, the oil and gas logging while drilling business is predicted to have tremendous potential from increasing projects over the forecast period.

Who are the key competitors of market Players?

Some of the major players operating within the market are Baker Hughes Incorporated, National Oilwell Varco, Weatherford International Plc., Schlumberger Ltd., and Halliburton Company, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, and Gyrodata.

What are the top performing segments, and countries / regions of each of the markets?

The Global Logging While Drilling Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa. North America to account for the largest market size during the forecast period. Tight oil and shale gas are emerging as an important new source of energy supply in the US and Canada.

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