Drilling Waste Management Market

Growth opportunities in the drilling waste management market look promising over the next six years. This is mainly due to stringent legal regulations towards effective drilling waste management to reduce water and land pollution and increasing demand for oil & gas.

Request for a FREE Sample Report on Drilling Waste Management Market

Drilling Waste Management Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The augmenting demand for oil and gas, rapid expansion in the production & exploration of shale gas, rising concerns towards the environment, and strict legal norms concerned with the effective drilling waste management to decrease water and land pollution are some of the drivers responsible for the growth of the global drilling waste management market. Also, the surging exploration activities in deep and ultra-deepwater will further stimulate market growth.

The surge in demand for natural gas, diesel, oil, and other fuels across industrial and residential areas will strengthen the market share. In accordance with the Energy Information Administration (EIA), natural gas production has been increased to a growth rate of 2.7% in 2019, from 1.5% in 2018. According to World Oil, the worldwide spending on E&P is predicted to escalate to 6.8% in 2021 after experiencing around 25% collapse in 2020, thus bringing enormous growth opportunities for the market growth. However, the decreasing price of crude oil is likely to hinder market growth. Moreover, high initial investment and inadequately skilled labor in the drilling waste management process will curb the drilling waste management market size.

Service Segment Drivers

Based on the service, solids control is predicted to witness a higher CAGR over the forecast period owing to their efficiency, ease of use, and adoption. Additionally, the use of this equipment to remove unwanted solids and recover the drilling fluid for reuse will propel the market growth.

Regional Drivers

Based on regional coverage, North America is anticipated to dominate the market over the forecast period, majorly because of the growing oil drilling and extraction activities and rising government regulations for waste treatment in the oil & gas sector. According to Energy Information Administration (EIA), natural gas accounts to be a source for about 31% of energy consumption in 2019. Additionally, natural gas in US, counted to be a source for around 20% of commercial, 24% of residential, and 33% of industrial sector's total energy consumption in 2019, thereby propelling the market growth.

Drilling Waste Management Market’s leading Manufacturers:

• Waste Management Inc.

• Weatherford International Plc

• NOV, Inc.

• GN Solids Control

• Schlumberger Limited

• TWMA

• SAR AS

• Halliburton Company

• Eco-Logic Environmental Engineering Inc.

• Baker Hughes Company

Drilling Waste Management Market Segmentation:

Segmentation by Application:

• On Shore

• Off Shore

Segmentation by Service:

• Solids Control

• Containment & Handling

• Treatment & Disposal

Segmentation by Region:

• North America

  • United States of America

  • Canada

• Asia Pacific

  • China

  • Japan

  • India

  • Rest of APAC

• Europe

  • United Kingdom

  • Germany

  • France

  • Spain

  • Rest of Europe

• RoW

  • Brazil

  • South Africa

  • Saudi Arabia

  • UAE

  • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: www.gmiresearch.com