The market in the Asia Pacific, on the other hand, is projected to grow with the highest CAGR of 9.44% throughout the forecast period. The market in North America region, amongst all the other regions, is predicted to hold the highest market share and also attain the largest revenue of USD 7143.8 Million by the end of 2030, up from USD 3152.7 Million in the year 2020. Geographically, the global directional drilling tools market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The segment is also anticipated to grow with the highest CAGR of 10.05% during the forecast period.ĭownload/Request Sample Copy of Strategic Report: By the end of 2030, the rotary steerable system (RSS) segment is expected to garner the largest revenue of USD 5972.0 Million. The market is segmented by tools type into rotary steerable system (RSS), logging-while-drilling (LWD) tools, measurement-while-drilling (MWD) tools, mud motors, whip stocks, adjustable-gauge stabilizers, jetting bits, and turbodrills. The market is anticipated to grow with CAGR of 8.37% during the forecast period, i.e., 2021-2030, and further touch a market revenue of USD 15878.7 Million by the end of 2030, up from USD 7134.4 Million in the year 2020. The total consumption of energy around the globe increased by around 4% from the year 2020 in the year 2021. Research Nester has released a report titled “ Directional Drilling Tools Market: Global Demand Analysis & Opportunity Outlook 2030″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market. Besides this, there is a growing demand for advanced drilling tools that can help these companies increase their overall productivity, which in turn is also projected to contribute to the growth of the global directional drilling tools market. With the increasing search for new reservoirs, the number of drilling activities is also projected to increase, and in turn drive the demand for directional drilling tools. The statistics portray the growing demand for energy worldwide, which is raising the need amongst the oil & gas companies to find new reservoirs.
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