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Horizontal Directional Drilling (HDD) Equipment Market Trends

  • Report ID: GMI9060
  • Published Date: Apr 2024
  • Report Format: PDF

Horizontal Directional Drilling Equipment Market Trends

The horizontal directional drilling equipment industry has witnessed significant technological advancements in drill bit design, downhole navigation systems, and automated drilling procedures, thereby resulting in more efficient HDD operations. This leads to faster drilling, lower labor expenses, and the capacity to accomplish more projects in lesser time. Advancements in downhole navigation systems enable operators to follow the drill route in real-time. This reduces the likelihood of discovering unanticipated subterranean obstructions and guarantees that the drilling path remains on track. Improved precision also decreases the need for corrective drilling, which saves both time and money.
 

Furthermore, technological developments are enabling the construction of safer HDD equipment. This contains features such as enhanced rig stability systems, collision avoidance technologies, and remote-control capabilities.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of horizontal directional drilling equipment was reached USD 7.3 billion in 2023 and is estimated to register 6% CAGR between 2024 and 2032, owing to the rising urbanization and population growth.

The onshore application segment in the horizontal directional drilling equipment industry accounted for over 65% revenue share in 2023, as it often faces fewer problematic ground conditions than offshore drilling.

North America horizontal directional drilling (HDD) equipment market accounted for a share of 33% in 2023, attributed to subterranean infrastructure, which includes water distribution systems, telephone networks, and oil & gas pipelines, for improvements and development.

American Augers, Astec Industries, Inc., Ditch Witch, Epiroc, Herrenknecht AG, Melfred Borzall Inc., Midwest Mole, TT Technologies, Inc., Vermeer Corporation and XCMG Group

Horizontal Directional Drilling Equipment Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 350
  • Countries covered: 25
  • Pages: 240
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