Global Sidetracking Market 2019-2023 | Automation in Directional Drilling to Boost Growth | Technavio

Global Sidetracking Market 2019-2023 | Automation in Directional Drilling to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Oct 29, 2019--

The global sidetracking market is expected to post a CAGR of nearly 6% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has announced its latest market research report titled global sidetracking market 2019-2023. (Graphic: Business Wire)

Oil and gas companies are increasing the use of techniques such as enhanced oil recovery (EOR) and sidetracking to enhance oil and gas recovery and boost productivity from mature fields. Sidetracking ensures easy reach to undrained reserves and maximizes hydrocarbon recovery. With increasing investments in the oil and gas sector to improve the recovery from mature fields, the growth of the market will accelerate during the forecast period.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31307

As per Technavio, automation in directional drilling will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Sidetracking Market: Automation in Directional Drilling

Oil and gas companies are automating drilling processes to improve productivity, efficiency, safety, and the quality of drilling processes. Automation of directional drilling enables oil and gas companies to achieve fine-tuned processes with highly integrated feedback mechanisms that can operate with minimal human intervention. The integrated feedback mechanism responds to any deviation from the planned operation procedure and allows drilling operators to achieve optimal conditions during drilling operations.

“Apart from the automation in directional drilling, rising oil and gas field efficiency using Big Data analytics and innovations in rotary steerable systems are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global Sidetracking Market: Segmentation Analysis

This market report segments the global sidetracking market by application (onshore and offshore) and geography (APAC, Europe, MEA, North America, and South America).

The European region led the market in 2018, followed by North America, MEA, APAC, and South America respectively. During the forecast period, the European region is expected to maintain its dominance over the global market. This is due to a rise in the number of oil and gas E&P activities in the North Sea.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

CONTACT: Technavio Research

Jesse Maida

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UK: +44 203 893 3200

Email:media@technavio.com

KEYWORD:

INDUSTRY KEYWORD: OIL/GAS ENERGY

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 10/29/2019 12:00 PM/DISC: 10/29/2019 12:01 PM

Copyright Business Wire 2019.