Rotary steerable system Market: Introduction
Rotary steerable system is used for directional drilling with continuous rotation from the surface as it employs specialized downhole equipment to replace tools such as mud motors. The rotary steerable systems are deployed when drilling horizontal, directional or for extended reach wells.
The major advantage for rotary steerable system is they have minimal contact or interface with the borehole as it helps in preserving borehole quality. The power section of a motor plays an integral part of rotary steerable system.
In recent times the major advantage or an emerging opportunity is the adoption of bi-center bits for rotary steerable system. This is majorly preferred in deep-water applications as the number of casing strings is more in number.
The technological growth such as integration of rotary steerable system and traditional positive displacement motors as it helps in enhancing the penetration rate. The adoption of such technology has given 6 times better penetration than the traditional method of rotary steerable system with a normal motor.
Rotary Steerable System Market: Market Dynamics
The technological advancement such as downhole communication system and real-time near-bit data, and new product development by leading players is the major driving factor that is impacting the global rotary steerable system market.
The reduction in rig time by these rotary steerable system by drilling faster with 20% faster is playing a significant role in the adoption of latest rotary steerable system.In the forecast period it is expected that the oil and gas operators will prefer such advanced rotary steerable system where standard rotary steerable system is not feasible for drilling new wells.
The leading players such as Nabors have acquired 2TD Drilling and such strategy will play a significant role in the growth of rotary steerable system market. The oil and gas operators are mostly concentrated towards acquiring contracts from onshore or land based drilling applications and the competitiveness is enhancing the demand for advanced rotary steerable system.
Further, the rising number of offshore drilling projects in North Sea, Gulf of Mexico, Thailand, and in Brazil will drive the global rotary steerable system market.The key challenge for the rotary steerable system is high cost of operations though in recent times it has been reduced substantially.
Rotary Steerable System Market: Regional Outlook
The rising number of drilling wells in US and South East Asian countries is driving the global rotary steerable system market.The shale gas production projects in countries such as the U.S., Canada, Brazil, Argentina, China etc. has driven the deployment of rotary steerable system in the past 5 years.
The lateral section drilling application in the U.S., Canada and China will play a significant in the adoption of rotary steerable system.Countries such as India, Thailand, Indonesia and Nigeria will be the targeted regions in the forecast period for the adoption of rotary steerable system market.
Further, the adoption of automated rotary steerable system with superior directional control and closed loop communication system with real-time feedback will drive the rotary steerable system market in the forecast period.
The rising number of drilling projects related to re-entry or workover wells in North Sea and Gulf of Mexico will be the driving factor for the deployment of rotary steerable system.
Rotary Steerable System Market: Key Market Participants
Some of the key market participants in the global rotary steerable system market are:
- Schlumberger Limited.
- APS Technology, Inc.
- Baker Hughes, a GE Company LLC
- National Oilwell Varco
- Double Barrel RSS
- Nabors Industries, Ltd.
- Gyrodata Incorporated
- Leam Drilling Systems, LLC.
- Target Energy Inc.
The rotary steerable system market research report presents a comprehensive assessment of the rotary steerable system market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The rotary steerable system market research report provides analysis and information according to market segments such as geographies, drill hole size, well type, and application.
The rotary steerable system market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K., Spain, BENELUX, Nordics)
- Eastern Europe (Russia, Poland, CIS)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The rotary steerable system market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The rotary steerable system market report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Rotary Steerable System Market: Market segmentation
The global rotary steerable system market can be segmented into type, and application.
On the basis of drill hole size, the global rotary steerable system market is segmented into:
- Less than 5 inch
- 5 to 7 inch
- 7 to 10 inch
- 10 to 15 inch
- Above 15 inch
On the basis of well type, the global rotary steerable system market is segmented into:
- New wells
- Matured wells
On the basis of application, the global rotary steerable system market is segmented into:
- Shallow Water
- Deep Water
- Ultra-deep Water
Market Research Methodology - Perfected through Years of Diligence
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