Oil & Gas Magnetic Ranging Market Size & Share, by Technology (Rotating Magnetic Ranging, Active Magnetic Ranging, Passive Magnetic Ranging); Application (Onshore, Offshore) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036
In August 2022, the Sierra Leone Petroleum Directorate expressed interest in working with GCC and other African oil and gas producing countries and companies to foster socio-economic growth in their respective regions.
In March 2019, Abu Dhabi National Oil Company announced that it would increase its oil and gas production capacity to 5 million barrels per day by 2030. This will open up new growth opportunities for the market in the coming years.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5437
Published Date: Dec 01, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing demand in oil and gas industry and growing prices of oil are some of the major factors anticipated to drive the growth of oil & gas magnetic ranging market.
The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2024-2036.
The major players in the market are of Big Guns Energy Services Ltd., Weatherford International Plc, GMW Associates, Vector Magnetics LLC, Scientific Drilling International Inc., Baker Hughes, Bartington Instruments Ltd., Transocean Ltd., Schlumberger NV,, and others.
The onshore segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.