Drilling Waste Management Market to experience a healthy CAGR of 6.1%
February 19, 2020
Drilling Waste Management Market Overview:
Drilling Waste Management Market is likely to witness an impressive CAGR of 6.1% during the forecast period. The major factors driving the drilling waste management market are technological developments enhancing the drilling and production capability, which is helping in exploration and production activities in the deep-water and ultra-deep-water areas across the globe.
Report Overview:
This report, from Stratview Research, studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Managed Pressure Drilling Services Market Segment Insights:
Treatment & Disposal Segment: The growth engine
Based on the service type, the drilling waste management market is segmented as treatment & disposal, containment & handling, and solids control. The treatment & disposal segment dominates the market owing to onsite burials (pits and landfills), land-farming, land-spreading, bioremediation, thermal treatment, and slurry injection techniques. The segment is estimated to lead the market during the forecast period due to increasing stringent regulations, such as zero-discharge standards, which mandate treatment and reuse of all waste without being discharged to the environment, specifically into the sea.
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Dominance of: The Onshore Segment
Based on the application type, the market is segmented as onshore and offshore. The onshore segment holds a major share of the market, whereas the offshore application segment is estimated to show a higher growth during the forecast period. The onshore application is led by North America, particularly the U.S., which has witnessed the historic levels of domestic crude oil production, owing to the widespread use of technologies, such as horizontal drilling and hydraulic fracturing that led to the “shale revolution.” Onshore applications have wider range of management, which includes land, underground injection, thermal treatment, and biological remediation in comparison to the offshore application segment.
A highly/moderately/fragment consolidated Market
Some of the major players in the drilling waste management market are Augean PLC, Baker Hughes Incorporated, Derrick Equipment Company, Halliburton Company, Hebei Gn Solids Control Co. Ltd., Imdex Limited, Schlumberger Limited, Secure Energy Services, Inc., Tervita Corporation, and Twma Ltd.
Regional Hegemony of North America
North America is estimated to lead the drilling waste management market during the forecast period. The region holds over 50% of the share of the market. The market has been hit the hardest as crude oil prices suddenly plummeted. North America and the Middle East portray an increase in energy demand which boosts oil & gas production. All these factors are contributing to the growth of the market during the forecast period.
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