What Are Factors Driving Growth Of The Drilling Waste Management Market?

The Drilling Waste Management Market 2021-2027 research report analyzes the current as well as future aspects of the industry & presents leading regions, growth trends & strategies of the key players which is bound to impact the global Drilling Waste Management industry share in various end-use applications.

The research analyst provides comprehensive data, which enhances the growth of the industries. This report focuses on the basic requirement strategies of the businesses, which helps to enlarge the productivity. Additionally, it offers different market segments, such as application, types, size, end-users, cost, etc.

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Drilling waste management is a constituent of successful operation activities related to E&P operations, which is essential for effective drilling and production operation and for environmental protection. The waste streams from drilling includes drilling fluids, cuttings, and interfacial mixtures. Large E&P (Exploration & Production) activities, growing environmental concerns, and stringent government regulations are some of the factors which is expected to fuel growth of the drilling waste management market during the forecast period. The discovery of deep-water hydrocarbon reserves created several opportunities for the oil and gas manufacturers, supporting the growth of market. However, slump in crude oil prices hamper the market growth.

However, solid control segment will be the largest growing segment during the forecast period, due to high efficiency of the process involved with control system. Furthermore, the service segment is used to remove unwanted solids such as drill cuttings from drilling fluid, gases and other contaminants in mud, while providing maximum recovery for re-use of drilling fluids.

On the basis of application, drilling waste management is segmented into onshore and offshore. In 2016, onshore application segment was the leading segment with the largest market share in drilling waste management market, owing to its wide operations based on land. Furthermore, onshore drilling offers large options for storage and transport of oil after the extraction process.

In Middle East and Africa, the discoveries of gas in Mozambique and Tanzania and increased E&P (Exploration & Production) activities in Kenya and Uganda, holding untapped oil and gas reserve potential in the region. The stringent environmental norms for offshore projects and any spillage may result in additional operation cost, ensuring the adoption of drilling waste management by the industry.

The drilling waste management market was valued at US$ 3.91 billion in 2016 and is expected to witness a CAGR of 6.30%, in terms of revenue, during the forecast period.

Major Players in the Global Drilling Waste Management Market

Some of the key players operating in the global drilling waste management market are Halliburton Co., Weatherford International Ltd., National Oilwell Varco, Inc., Xi’an Kosun Machinery Co., Ltd., Tervita Corporation, TWMA Ltd., Step Oiltools, Soli-Bond, Inc. Specialty Drilling Fluids Ltd., Soiltech, Scomi Group BHD, Secure Energy Services, Inc., Schlumberger Ltd., Nuverra Environmental Solutions, Ridgeline Canada, Inc., Newalta, Hebei Gn, Solids Control Co. Ltd., Imdex Limited, Baker Hughes, Inc., Derrick Equipment Company, and Augean PLC

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[Note: *The PDF Brochure Includes

1) Table of Content (ToC),
2) Research Framework of the actual report, and
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Important Information that can be extracted from the Report:

♦ Assessment of the COVID-19 impact on the growth of the Drilling Waste Management Market

♦ Successful market entry strategies formulated by emerging market players

♦ Pricing and marketing strategies adopted by established market players

♦ Country-wise assessment of the Drilling Waste Management Market in key regions

♦ Year-on-Year growth of each market segment over the forecast period 2027

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In Addition, The Years Considered For The Study Are As Follows:

Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026

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