Drilling Services Market to Touch USD 17.44 Billion by 2027; Increasing Hydrocarbon Exploration & Production Activities to Boost the Market: Fortune Business Insights™
Key Players profiled in Drilling Services Market Are Sumitomo Precision Products Co (Japan), Siemens (Germany), DV8 Technology Ltd. (UK), REFLEX NOW (Australia), Motive Drilling Technologies (U.S.), Kearfott Corporation (U.S.), ION Geophysical (U.S.), Zupt, LLC (U.S.), KLX Energy Services (U.S.), Welltec (Denmark), International Drilling Services LLC (Oman), Boart Longyear (U.S.), The Weir Group PLC (UK), AlMansoori Specialized Engineering (United Arab Emirates).Pune, India, Feb. 17, 2021 (GLOBE NEWSWIRE) — The global drilling services market size is projected to reach USD 17.44 billion by 2027, exhibiting a CAGR of 8.6% during the forecast period. Escalating energy demand across the world will be the principal force behind the progress of this market, shares Fortune Business Insights™ in its report, titled “Drilling Services Market Size, Share & COVID-19 Impact Analysis, By Service (Directional Drilling Measurement While Drilling, Logging While Drilling, Rotary Steerable System, Gyro Drilling, Magnetic Drilling, and Others and Non-Directional Drilling), By Application (Onshore and Offshore Shallow Water, Deepwater, and Ultra-Deepwater), By End-User (Oil & Gas, Mining, Water Exploration, and Others), and Regional Forecast, 2020-2027”. According to the International Energy Outlook 2019 of the US Energy Information Administration (EIA), global energy consumption is set to increase by nearly 50% between 2018 and 2050. The astronomical rise in energy demand, as per the EIA, will be driven by the rapidly developing nations of Asia over the next three decades. Furthermore, the International Energy Agency (IEA) predicts that oil production will keep rising till 2030 and nearly 35% of the energy demand will be met by gas. Drilling services are, therefore, likely to experience soaring demand as governments and private players compete against each other to meet the skyrocketing demand for hydrocarbon-based energy in the forthcoming years. Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/drilling-services-market-104784 In 2019, as per the report’s findings, the global market value stood at USD 12.88 billion. The main features of the report include: Unmatched intelligence on the various Drilling Services Market drivers, trends, and restraints;Actionable insights into the performance of all market segments;Granular analysis of the leading players’ profiles and dominant strategies; andExhaustive assessment of the impact of the regional developments on Drilling Services Market growth. Restraining Factor Sharp Decline in Oil Demand amid COVID-19 to Stall Market Growth The drilling services market growth is confronting unprecedented challenges thrown in its way by the outbreak of the COVID-19 pandemic. According to the IEA, world energy demand dropped by 5% in 2020, with oil demand contracting by 8% and coal demand by 7%. The major reasons for this historic decline in fossil fuel energy sources include the speedy adoption of remote working facilities when the pandemic broke out, nationwide lockdowns, and a sudden dip in electricity demand as commercial spaces were temporarily closed down. The cumulative effects of these developments can be seen on oil prices, which were already volatile due to the Saudi-Russia oil supply war. In April 2020, for instance, crude oil prices went into negative territory on account of the precipitous fall in oil demand. In December 2020, as the new coronavirus strain gripped the world, oil prices dropped by 3%. Weak investments and delays in exploration projects amid the COVID-19 pandemic will, thus, limit the adoption of drilling services in the oil and gas industry. Click here to get the short-term and long-term impact of COVID-19 on this Drilling Services Market. Please visit: https://www.fortunebusinessinsights.com/drilling-services-market-104784 Regional Insights Increasing Oil Production in the US to Aid the North America Market Growth North America is expected to dominate the drilling services market share during the forecast period owing to the rising production level of oil & gas in the US and Canada. Moreover, drilling technologies are being extensively employed in the US to discover shale gas reserves, which will put the US at the forefront of the hydrocarbon industry. In 2019, the North America market size stood at USD 4.93 billion. In Asia Pacific, the Drilling Services Market is anticipated to experience prolific growth on account of the abundant availability of mineral and metal reserves spread across the region, which will stoke the demand for drilling services. On the other hand, the market in the Middle East & Africa is likely to undergo speedy expansion due to the rich presence of oil reserves in this region. Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/drilling-services-market-104784 Competitive Landscape Key Players to Concentrate on Obtaining Profitable Drilling Contracts The advanced drilling services and solutions offered by some of the prominent players in this market are enabling these companies to secure highly profitable contracts from diverse entities. These contracts are allowing the players to expand their business and operational horizons and augment their presence in regional markets. Industry Developments: November 2020: Seadrill Ltd bagged one firm and one optional well contract from Walter Oil & Gas for the Sevan Louisiana semi-submersible rig in the Gulf of Mexico. The deal adds USD 17 million in backlog revenues for Seadrill.November 2020: Schlumberger released MagniSphere, its innovative, high-definition NMR logging-while-drilling (LWD) service. The inventive offering is designed to deliver precise, real-time analysis for accurate well placement, leading to increased production and recovery in complex sites. List of Key Companies Covered in this Drilling Services Market Report: Sumitomo Precision Products Co (Japan)Siemens (Germany)DV8 Technology Ltd. (UK)REFLEX NOW (Australia)Motive Drilling Technologies (U.S.)Kearfott Corporation (U.S.)ION Geophysical (U.S.)Zupt, LLC (U.S.)KLX Energy Services (U.S.)Welltec (Denmark)International Drilling Services LLC (Oman)Boart Longyear (U.S.)The Weir Group PLC (UK)AlMansoori Specialized Engineering (United Arab Emirates)Leam Drilling Systems LLC (U.S.)Petrofac (UK)Superior Energy Services (U.S.)VES Survey International (U.S.)Unitech Drilling Company Limited (Nigeria)Compass Directional Guidance, Inc. (U.S.)Oceaneering (U.S.)TechnipFMC (UK)Halliburton (U.S.)Inertial Sensing One AB (Sweden)Axis Mining Technology (Australia)Devico AS (Norway)Stockholm Precision Tools AB (SPT) (Sweden)Gyrodata (U.S.)Emerson (U.S.)Schneider Electric (France)Erdos Miller (U.S.)Oliden Technology (U.S.)Gyro Australia (Australia)Phoenix Technology Services (Canada)Center Drill Inc. (U.S.)Gyro Drilling (Netherlands)JAE (Japan)Radial Drilling Services, Inc. (U.S.)Integra (Russia)JINDAL DRILLING & INDUSTRIES LTD. (India)NewTech Services (Russia)NOV (U.S.)Huracan Pty Ltd. (Australia)Baker Hughes (U.S.)Archer – the well company (Norway)DIDRILLSA LTDA (Colombia)Drill Tech Solution (Azerbaijan)China Oilfield Services Limited (China)AnTech (UK)Weatherford (Switzerland)Nabors Industries (U.S.)Scientific Drilling (U.S.)Brownline (Netherlands)Icefield Tools Corporation (Canada)Schlumberger (U.S.) Quick Buy – Drilling Services Market: https://www.fortunebusinessinsights.com/checkout-page/104784 Table Of Content For Drilling Services Market: Introduction Research ScopeMarket SegmentationResearch MethodologyDefinitions and Assumptions Executive SummaryMarket Dynamics Market DriversMarket RestraintsMarket Opportunities Key Insights Key Emerging Trends – For Major CountriesLatest Technological AdvancementKey Industry DevelopmentsRegulatory LandscapePorters Five Forces Analysis Qualitative Analysis – Impact of COVID-19 Impact of COVID-19 on the Drilling Services MarketSteps Taken by the Government to Overcome the ImpactKey Developments by Industry Players in Response to COVID-19Potential Opportunities and Challenges due to COVID-19 Outbreak Global Drilling Services Market Analysis (USD Billion), Insights and Forecast, 2016–2027 Key Findings / SummaryMarket Analysis, Insights and Forecast – By Service Directional Drilling Measurement While DrillingLogging While DrillingRotary Steerable SystemGyro DrillingMagnetic DrillingOthers Non-Directional Drilling Drilling Services Market Analysis, Insights and Forecast – By Application OnshoreOffshore Shallow WaterDeepwaterUltra-Deepwater Market Analysis, Insights and Forecast – By End-User Oil & GasMiningWater ExplorationOthers Market Analysis, Insights and Forecast – By Region North AmericaEuropeAsia PacificLatin AmericaMiddle East and Africa TOC Continued…! Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/drilling-services-market-104784 Have a Look at Related Research Insights: Wind Tower Market Size, Share and COVID-19 Impact Analysis By Type (Steel Tower, Concrete Tower, and Hybrid Tower), By Installation (Onshore, and Offshore), and Regional Forecast, 2020-2027 Liquid Biofuels Market Size, Share & COVID-19 Impact Analysis, By Product Type (Ethanol and Biodiesel), By Feedstock (Sugar Crops, Starch Crops, Vegetable Oils, Animal Fats, and Others), By Process (Fermentation, Transesterification, and Others), By Application (Transportation, Power Generation, and Heat), and Regional Forecast, 2020-2027 Gasification Market Size, Share & COVID-19 Impact Analysis, By Feedstock (Coal, Petroleum, Natural Gas, and Biomass/Waste), By Application (Chemical, Liquid Fuel, Power, and Gaseous Fuel), and Regional Forecast, 2020-2027 Virtual Power Plant Market Size, Share & COVID-19 Impact Analysis, By Technology (Demand Response, Distributed Generation, and Mixed Asset), By End-User (Industrial, Commercial, and Residential), and Regional Forecast, 2020-2027 Alkaline Battery Market Size, Share and COVID-19 Impact Analysis, By Product (Primary and Secondary), By Size (AA, AAA, 9 Volt, and Others), By Application (Remote Control, Consumer Electronics, Toys & Radios, and Others), and Regional Forecast, 2020-2027 About Us: Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. 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Cautious optimism over downward COVID trend – Winnipeg Free Press
For the first time since the second wave of the COVID-19 pandemic gripped Manitoba, the test positivity rate in Winnipeg has dropped below three per cent — a goalpost the province’s top doctor said long ago indicates widespread community transmission.
Public health officials announced two new deaths, 50 additional cases of the virus and 1,866 tests complete as of Sunday morning.
A man in his 80s and a woman in her 90s, both from Winnipeg, are among the now 895 Manitobans who have died from the virus.
The total number of lab-confirmed cases in Manitoba sits at 31,859, of which 1,194 are active.
A total of 192 people are in hospital, while 26 are in the intensive care unit, with 72 and 11 of those cases accounting for active COVID-19 patients, respectively.
No new cases of the B.1.1.7 variant, of which there are five cases to date, were reported over the weekend.
The majority of new cases reported are in Manitoba’s north and capital; in both regions, there were 21 new cases.
Also Sunday, the province reported the current five-day COVID-19 test positivity rate is 3.7 per cent provincially and 2.7 per cent in Winnipeg.
Epidemiologist Cynthia Carr called the latest figures “good news,” especially on the variant front.
“I’m always cautious about reacting to one day of data, particularly over a weekend. I like to look at how many people are tested and what the positivity rate is, but certainly, the trend that we’re seeing is a continued, real reduction that we’re sustaining,” said Carr, founder of Winnipeg-based EPI Research Inc.
Manitoba only began publishing the test positivity rate — the percentage of people who have tested positive for the virus of the total number tested during a five-day period — in Winnipeg in late October, saying it is less reliable than the provincial rate because of the smaller sample size.
At that point, the figure was more than triple the current percentage, at 9.9 per cent.
Winnipeg’s test positivity rate peaked at 14.9 per cent in early December.
In the early days of the pandemic, provincial chief medical officer Dr. Brent Roussin warned of the prospect of a three per cent test positivity rate, which he said would signify widespread community transmission and trigger increased restrictions.
Last week, Roussin said the province is considering a further rollback of restrictions when the current public health order expires Friday.
Maggie Macintosh reports on education for the Winnipeg Free Press. Funding for the Free Press education reporter comes from the Government of Canada through the Local Journalism Initiative.
COVID-19 lockdowns or spring break: provinces split on next steps against pandemic – Global News
Canada’s COVID-19 hotspots showed diverging approaches to handling the crisis on Sunday, as Ontario and Prince Edward Island prepared for new lockdowns while Quebec entered a week of spring break complete with some activities meant to ease the monotony of life during a global pandemic.
Prince Edward Island announced it was entering a 72-hour lockdown starting at midnight as the province struggled to contain an outbreak of COVID-19.
The short-term public health order was announced as officials reported five new infections of the disease in a province that has seen few cases for most of the pandemic. The Island has now recorded 17 new infections over the past five days.
Health officials identified two clusters of COVID-19 in the cities of Summerside and Charlottetown, and said it’s possible the island has community spread of the virus. The province has a total of just 132 cases of COVID-19 since the pandemic began.
The three-day lockdown requires residents to stay home as much as possible and will close all kindergarten to Grade 12 schools, with post-secondary education moving online only.
“We would rather go harder and stronger now than wait for an outbreak like we have seen in other provinces that could put us in an extended period of lockdown for weeks or even months,” Premier Dennis King said late Sunday during a briefing with reporters.
Ontario, meanwhile, passed the 300,000 case mark on Sunday as the government prepared to hit a so-called ’emergency brake’ in two northern public health units grappling with surging case numbers.
The Thunder Bay and Simcoe-Muskoka District health units will enter the lockdown phase of the province’s pandemic response plan on Monday in order interrupt transmission of COVID-19 at a time when new variants are gaining steam.
The province has also pushed back its spring break until April in an effort to limit community spread.
Navigating a tax season complicated by COVID-19
Quebec, in contrast, has allowed movie theatres, pools and arenas to open with restrictions in place to give families something to do as the traditional winter break kicks off, even as most other health rules remain in place.
The province opted to allow students and teachers the traditional March break, even though Premier Francois Legault has said he’s worried about the week off and the threat posed by more contagious virus variants.
Quebec’s health minister said the situation in the province was stable on Sunday, with 737 new cases and nine additional deaths _ even as confirmed cases linked to variants of concern jumped by more than 100 to 137.
Most of the variant cases have been identified as the B.1.1.7 mutation first identified in the United Kingdom, including 84 in Montreal.
Ontario, meanwhile, reported 1,062 new infections linked to the pandemic on Sunday as it became the first province to record more than 300,000 total cases of COVID-19 since the onset of the pandemic.
The country’s chief public health officer urged Canadians on Sunday to continue following public health measures as a way of buying critical time as vaccine programs ramp up.
“Aiming to have the fewest interactions with the fewest number of people, for the shortest time, at the greatest distance possible is a simple rule that we can all apply to help limit the spread of COVID-19,” Dr. Theresa Tam said in a statement.
Canada’s immunization program received a boost last week with the approval of a third COVID-19 vaccine, raising hopes that provinces will be able to inoculate their most vulnerable populations before the more contagious variants can fully take hold.
Trudeau says COVID-19 case counts, presence of variants being looked at with Canada-U.S. border restrictions
Toronto announced Sunday that it was expanding the first phase of its COVID-19 vaccination drive to include residents experiencing homelessness, noting that they have a higher risk of serious health impacts due to COVID-19 and are vulnerable to transmission in congregate settings.
Quebec, meanwhile, is set to begin vaccination of the general population on Monday, beginning with seniors 80 and over in the Montreal area, or 85 and over in the rest of the province.
While some regions with extra doses began administering shots late last week, the pace of inoculation will ramp up on Monday when mass vaccination clinics in Montreal throw open their doors.
Case counts were more stable elsewhere in the country.
Manitoba reported just 50 new COVID-19 infections on Sunday and two new virus-related deaths, while Saskatchewan saw its overall tally climb by 181 but did not log any new deaths.
Alberta reported three new virus-related deaths and 301 new infections, including 29 identified as variants of concern.
In Atlantic Canada, Nova Scotia logged three new cases while officials in Newfoundland and Labrador reported seven.
© 2021 The Canadian Press
COVID-19 in Sask.: 141 new cases, no deaths reported Sunday – CBC.ca
Saskatchewan health officials recorded 141 new cases of COVID-19 and no new deaths linked to the virus on Sunday.
The Saskatoon region saw the most positive tests with 38, followed by the Regina zone at 19 and the northwest region at 17.
Other Sunday case totals by zone:
- Far northwest: 16
- Far northeast: 14
- North central: 13
- South central: eight
- East central: eight
- Northeast: three
- West central: two
- Southeast: one
- Far north central: one
Another 1,662 COVID-19 vaccine doses were administered Saturday, bringing Saskatchewan’s immunization total up to 78,226.
The majority of the shots, 656, were given in the southeast zone, which covers Fort Qu’Appelle and Broadview.
Other Saturday vaccination totals by zone:
- Northwest: 314
- Far northeast: 218
- North central: 214
- East central: 112
- West central: 102
- Regina: 24
- Far north central: 22
The province also updated data to include an extra 936 doses given in the southeast, 49 in the west central zone and another 78 in the east central region on Friday.
Despite no vaccinations recorded in the Saskatoon region Saturday, it continues to lead with 14,920 total doses administered.
COVID-19-related hospitalizations saw a slight increase to 154 on Sunday — up three people from the day before. Nineteen patients are under intensive care in the Saskatoon, Regina and northwest regions.
As of Sunday, a total of 1,543 cases are considered to be active in Saskatchewan.
Since the pandemic began, the province has recorded 28,647 cases of COVID-19.
Fauci says of Johnson & Johnson COVID-19 vaccine: 'I would take it' – Reuters Canada
Einarson tops Walker to set up rematch with Homan in Scotties final – CBC.ca
Cautious optimism over downward COVID trend – Winnipeg Free Press
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