Asia Pacific Horizontal Directional Drilling Market Size & Growth:

Asia Pacific Horizontal Directional Drilling market was valued at $XX Billion in 2021 and is expected to reach $XX Billion by 2029, growing at a CAGR of around 5.12% during the forecast period. During the past decade, increasing oil & gas exploration sites coupled with growing subsequent production of crude oil and natural gas in countries of Asia Pacific i.e., Australia, Indonesia, New Zealand and Myanmar, have facilitated the need for upstream oil & gas services in the region. Focusing on R&D (Research and Development) for sampling techniques as well as investment in product innovation has been the major focus of leading companies providing oil & gas services in the Asia Pacific region.

COVID-19 Impact on Horizontal Directional Drilling Market:

In 2020, during the COVID-19 pandemic, the Asia Pacific HDD market had impacted severely due to a lack of workforce and practical difficulties in implementing social distancing at equipment production sites. The pandemic has triggered abnormal operating conditions for HDD contractors. The situation prompts manufacturers to create appropriate procedures to reduce workplace infection risks. Trades across countries were disrupted, causing a lack of raw materials and components required for providing drilling solutions and services to the oil & gas industry. The COVID-19 pandemic impact and the oil prices war are proving to be a two-pronged crisis for oil, gas, and chemicals companies. Oil prices have experienced a decline due to failed agreements on production cuts, and the need for chemicals and refined products is slowing from industrial slow-downs and travel restrictions in the wake of this pandemic.

Asia Pacific Horizontal Directional Drilling Market Segments Share:

The Asia Pacific Horizontal Directional Drilling market is segregated on the basis of type, parts, application, end-user and geography.

As most countries in the Asia-Pacific region have relatively smaller onshore reserves, most of these reserves have been commercially exploited. As the energy demand grows, most countries in the region have focused on developing riskier offshore reserves to satiate domestic demand. Based on geography, the market is categorized into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and Others. China is the largest energy consumer globally. However, the country is heavily dependent on energy imports due to relatively smaller conventional hydrocarbon reserves. To reduce its dependence on energy imports, the country has been investing heavily to maximize the potential of its domestic reserves. In Australia, Gorgon is one of the world’s biggest natural gas projects, and Wheatstone is the country’s first third-party natural gas hub. These projects represent a source of liquefied natural gas for Asia-Pacific customers and domestic gas for Western Australia for decades.

Asia Pacific Horizontal Directional Drilling Market Trends:

• In September 2022, Diamond Offshore Drilling announced that they had won a contract from Inpex Australia for its Ocean Apex semi-submersible in the Northwest Shelf of Australia. The scope of the contract covers 2 wells and is expected to commence in Q3 2023.
• In April 2022, Maersk Drilling was awarded a 1-year contract extension for its ultra-deepwater semi-submersible rig Maersk Deliverer. The contract was offered by Inpex for carrying out drilling operations in the Ichthys field in the Browse Basin offshore Western Australia. The contract extension is expected to commence in July 2023, with an option for an additional one-year extension.

Asia Pacific Horizontal Directional Drilling Market Research Report Include:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have complete market analysis through industry value chain analysis, porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
• Regional diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROC in the current market and their impact in altering the market dynamics.
• Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial analysis with major competitors.
• Expertise investment opportunities by analyst to the individual and organization to have better foothold in the market.
• Identify the latest developments, market shares and strategies that are employed by the major market players, such as
• Baker Hughes Company
• Barbco, Inc.
• Halliburton Company
• Schlumberger, Ltd.
• The Toro Company

Along with these companies, there were many other companies considered/ cited in the report while analyzing the Horizontal Directional Drilling market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.