The Latin America, Middle East and Africa Horizontal Directional Drilling Market would witness market growth of 8.2% CAGR during the forecast period (2021-2027).
The Horizontal Directional Drilling (HDD) technology is utilized to correctly perform drilling operations and back ream the appropriate pipe, sidelining numerous impediments on the bore path while inflicting little collateral harm to subterranean ecosystems. Concerns about the need to minimise environmental harm caused by fast infrastructure development throughout the world are driving a rise in the usage of horizontal directional drilling.
Growing utility installations, expanding funding in shale gas development initiatives, and growing expenditures directed at different advances in the telecom industry to provide high-speed connection are some of the main drivers driving market.
The Middle East and Africa are the most important regions for the horizontal directional drilling business, since they possess half of the world's known oil reserves, or 48 percent. Saudi Arabia is the world's second-largest oil-producing country. Therefore, these factors are anticipated to propel the growth of the regional horizontal directional drilling market during the forecasting period.
The Brazil market dominated the LAMEA Horizontal Directional Drilling Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $271.7 million by 2027. The Argentina market would exhibit a CAGR of 8.9% during (2021 - 2027). Additionally, The UAE market is poised to grow a CAGR of 7.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Horizontal Directional Drilling Market is Predict to reach $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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