The Europe Horizontal Directional Drilling Market would witness market growth of 4.9% CAGR during the forecast period (2021-2027).
Horizontal directional drilling (HDD) is among the most unique methods of installing subterranean cycles with low environmental impact. Furthermore, when compared to vertical approaches, the HDD methodology provides better precision. Straight drilling techniques need fewer holes to be drilled than traditional drilling methods.
In other words, HDD machines may insert several pipes on a single surface, reducing the surface area of the drilling surface. This environment friendly building style also needs less set space. This feature makes it perfect for busy public locations where work must be done quickly to reduce interruption brought by the community and traffic congestion.
As per European Energy Industry Investments 2017, utility companies are expected to spend USD 295 billion on transmission and distribution infrastructure under new policy scenarios for 2021- 2030, resulting in greater efficiency and reliability in the system, which promotes energy demand. Furthermore, massive development projects to establish business parks, commercial spaces, and housing societies are expected to increase electricity consumption.
The Germany market dominated the Europe Horizontal Directional Drilling Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $652.2 million by 2027. The UK market would witness a CAGR of 4% during (2021 - 2027). Additionally, The France market is exhibiting a CAGR of 5.7% during (2021 - 2027).
Based on Component, the market is segmented into Machines and Services. Based on Machine Type, the market is segmented into Rotary Steerable System and Conventional. Based on Machines Parts, the market is segmented into Rigs, Pipes, Bits, Reamers and Others. Based on Rig Type, the market is segmented into Midi, Mini, and Maxi. Based on Rig Type, the market is segmented into Midi, Mini, and Maxi. Based on Rigs Sales Type, the market is segmented into New sales and Aftermarket. Based on Application, the market is segmented into Onshore and Offshore. Based on End-use, the market is segmented into Oil & Gas Extraction, Utility, Telecommunication and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Horizontal Directional Drilling Market Size will Hit $11.6 Billion by 2027, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nabors Industries Ltd., NOV, Inc., Herrenknecht AG, Vermeer Corporation, Xuzhou Construction Machinery Group Co., Ltd., The Toro Company, Halliburton Company, Schlumberger N.V., Weatherford International PLC, and Baker Hughes Company.
By Component
By Machine Type
By Machine Parts
By Rig Type
By Rigs Sales Type
By Application
By End Use
By Country
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