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Horizontal Directional Drilling Market to Reach USD 24.41

July 03, 2024 13:10 ET   | Source: SNS Insider pvt ltd SNS Insider pvt ltd

Pune, July 03, 2024 (GLOBE NEWSWIRE) -- Horizontal Directional Drilling Market Size Analysis: mining boring machine

“As per the SNS Insider Research, The Horizontal Directional Drilling Market size was valued at USD 7.56 Bn in 2023. It is anticipated to be valued at USD 24.41 Bn by the year 2032 and shows a growth rate of 13.91% CAGR during the forecasting period 2024-2032.”

Market Overview & Growing Demands

The technology is increasingly used due to its efficiency and cost-effective manner for pipeline, cable or conduit installation. There are several factors, including increased investments in projects such as shale gas development which calls for energy-efficient drilling technologies to reach reserves located far beneath the ground. Moreover, the rising deployment of Horizontal Directional Drilling in laying fiber optic cables without any disruption to the existing structure is driving demand from the telecom industry for high-speed connectivity.

Some businesses are even developing creative services in response to the heightened interest. As an example, the D220x300S3 Navigator HDD by Vermeer Corporation has recently emerged on the market with more power and precision for drilling through tough terrains. In a related move, Ditch Witch introduced the JT28 Directional Drill for better performance in both suburban and rural applications.

The Toro Company's purchase of Radius HDD in 2023 signaled consolidation across the industry to widen types and improve technologies.

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Major Players Listed in this Report are:

Increase in demand from the end-user industries across various regions of worlds owing to its capability carry out drilling activities with least surface disruption has driven Horizontal Directional Drilling Market. In urban areas, this is especially important as traditional open-cut methods are often not feasible. The scope for the market is expanded including utility installations oil & gas pipelines, telecommunication infrastructure and others. As the Priority for Renewable energy plans raise, Horizontal directional drilling Market is predicted to gain benefits. Rising number of wind and solar farms across the globe is providing impetus to sales of horizontal directional drilling equipment Underground power cables have recently gained significance, becoming a key area that requires controlled or restricted excavation around residential areas. Furthermore, the surge in government initiatives for enhancing infrastructure and connectivity is boosting up the capabilities generated within it.

Horizontal Directional Drilling Market Report Scope:

Tunneling creates the main passage, while HDD would likely be used to lay cables and pipelines alongside it. Asia's tunnel boom caters to large-scale projects like the massive 14.15 km Zojila tunnel, creating highways, railways, and water channels. In contrast, Horizontal Directional Drilling (HDD) tackles smaller tasks, installing utilities and telecom lines typically ranging from centimeters to a few meters. Both sectors benefit from the region's infrastructure push. China alone is expected to invest $31-$38 billion annually between 2025-2028. Tunnelling addresses large-scale transportation needs, while HDD ensures these projects have the underground utility and communication networks they rely on. The North-South Commuter Railway-Metro Manila Subway tunnel exemplifies this.

Horizontal Directional Drilling Market is poised for lucrative growth due to technological development along with expanding infrastructure projects. The market is further boosted by the increasing implementation of advanced drilling operations, which can offer improved productivity as well as help in bringing down operational costs. The rising trend to rent HDD equipment, particularly in the U.S. market is one of several growth drivers The expensive drilling set-ups is causing many companies to turn towards rental services and offers an opening for service providers to take advantage of the trend.

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In 2023, the rotary steerable systems (RSS) represented by market share of approximately in Horizontal Directional Drilling Market. RSS technology enables steerable drilling with real-time capabilities to allow the driller to keep on track according to the programmed tilt, even in complex conditions. This decreases the possibility of hitting blocks and mitigates holdups as well costs for your project. The efficiency and cost-effectiveness of the RSS are predicted to stimulated growth in the market throughout that duration.

While this can be relatively inexpensively done with traditional techniques it takes many more technical knowledge and runs a much higher risk of going off-course from the predetermined path. This can affect infrastructure close at hand and add to operational risks.

Segment wise Utility Vibratory Plow accounted for the largest market share in 2023. Utility vibratory Plows are rooted in the need to install flexible conduits at proper depths, primarily used on telecommunications projects for fibre cable placement and oil & gas operations to lay pipelines.

Pile Driver the pile driver segment was second only to material handler, as demand from telecom and oil gas sectors for pipeline cable installations continued. The likes of STARKE continue to advance the innovation, key here with pile drivers that come with auto anchoring functionalities.

Horizontal Directional Drilling Market Key Segments:

North America is a dominant region in the Horizontal Directional Drilling Market with around 38% market share. The U.S. Energy Information Administration pointed to extensive liquid fuel utilization, underscoring the requirement of reliable drilling technologies (US EIA). Growing count of infrastructure and utility projects across North America is further supporting the demand for HDD equipment & services.

The Asia-Pacific region is expected to experience rapid growth, and with China making its national energy infrastructure revolve around renewable sources of energy. The area is sprawling in terms of investments in telecommunications the market for 4G and 5G networks are increasing rapidly, this implies that demanding opportunities might be on the rise as far as employing better drilling equipment is concerned.

The horizontal directional drilling market is anticipated to register a major CAGR throughout the future. This demonstrates that following the above trend, continuous investments in infrastructure and renewable energy projects will benefit this market. Further, technological development like (enables the installation of different pipes in one location, creating fewer fractures in underground rock formations) in drilling methods are expected to increase efficiency and decrease cost which will bolster the horizontal directional drilling market for a number of applications.

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In May 15, 2023: A drilling company called EnviroBore Directional Drilling (Envrio bore) announced that they had acquired Full Bore Contracting Ltd. to enhance their presence in Northeast British Columbia Canada.

Table of Contents – Major Key Points

7. Horizontal Directional Drilling Market Segmentation, By Technology

8. Horizontal Directional Drilling Market Segmentation, By Machine Type

9. Horizontal Directional Drilling Market Segmentation, By Application

10. Horizontal Directional Drilling Market, By Machine

11. Horizontal Directional Drilling Market, By Parts Type

12. Horizontal Directional Drilling Market, By Tooling

13. Horizontal Directional Drilling Market, By End-User

17. Use Case and Best Practices

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