May 29, 2019   SOURCE: BusinessWire

Global Sidetracking Market 2019-2023 - Key Vendors are Baker Hughes, a GE Co. LLC, Halliburton, Nabors Industries, Schlumberger, & Weatherford International - ResearchAndMarkets.com

The "Global Sidetracking Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.

The sidetracking market will register a CAGR of almost 6% by 2023.

The rising global energy demand is one of the key factors that will trigger the growth of the market during the forecast period. The growing population and economic development have led to a rise in global energy demand. Furthermore, the demand for natural gas has also increased due to its clean burning property.

Therefore, oil and gas companies will focus on increasing drilling operations by exploring untapped reserves to cater to energy demand. Additionally, with increased oil and gas drilling operations to tap more reserves, mechanical failures will rise. This will increase the need for sidetracking drilling operations.

Market Overview

Exploring unconventional resources

The increase in adoption of horizontal drilling and hydraulic fracturing has led augmented the rate of production of crude oil, condensate, and natural gas. This will drive the growth of the global sidetracking market during the forecast period.

Risks associated with drilling operations

The growing regulations for E&P operations and transportation activities in the oil and gas industry have made oil and gas E&P operators restrict themselves from making investment decisions. This may have a negative impact on oilfield E&P activities, which can hinder the growth of the global sidetracking market during the forecast period.

Competitive Landscape

The market appears to be highly fragmented and with the presence of several companies including Baker Hughes and Halliburton Co., the competitive environment is quite intense. Several oilfields services companies, providing directional drilling equipment and services in the market, are offering integrated drilling equipment to enhance the output of the oilfield drilling operation. This will increase drilling operation efficiency of sidetracking drilling and will provide considerable growth opportunities to sidetracking manufactures.

Nabors Industries Ltd., a GE Co. LLC, Schlumberger Ltd., and Weatherford International Plc. are some of the major companies covered in this report.

Key Topics Covered:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

Preface

Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

Market ecosystem

Market characteristics

Market segmentation analysis

PART 04: MARKET SIZING

Market definition

Market sizing 2018

Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

Bargaining power of buyers

Bargaining power of suppliers

Threat of new entrants

Threat of substitutes

Threat of rivalry

Market condition

PART 06: MARKET SEGMENTATION BY APPLICATION

Market segmentation by application

Comparison by application

Onshore - Market size and forecast 2018-2023

Offshore - Market size and forecast 2018-2023

Market opportunity by application

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

Geographic segmentation

Geographic comparison

Europe - Market size and forecast 2018-2023

North America - Market size and forecast 2018-2023

MEA - Market size and forecast 2018-2023

APAC - Market size and forecast 2018-2023

South America - Market size and forecast 2018-2023

Key leading countries

Market opportunity

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

Market drivers

Market challenges

PART 11: MARKET TRENDS

Rising oil and gas field efficiency using Big Data analytics

Automation in directional drilling

Innovations in rotary steerable systems

PART 12: VENDOR LANDSCAPE

Overview

Landscape disruption

Competitive scenario

PART 13: VENDOR ANALYSIS

Vendors covered

Vendor classification

Market positioning of vendors

  • Baker Hughes, a GE Co. LLC
  • Halliburton Co.
  • Nabors Industries Ltd.
  • Schlumberger Ltd.
  • Weatherford International Plc

For more information about this report visit https://www.researchandmarkets.com/r/6st1h2