Schlumberger announced the launch of autonomous directional drilling which offers options for autonomously steering through any region of the wellbore.
Halliburton Company introduced the iCruise XTM Intelligent Rotary Steerable System, the next generation of drilling platform designed for longer, harsher applications that need precision.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4994
Published Date: Jun 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for oil and gas, and higher need for other sources of energy are the major factors driving the market growth.
The market size of rotary steerable system is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Halliburton Energy Services, Inc., Schlumberger Limited, Weatherford International Plc, APS Technology, Inc., Baker Hughes Company, NOV, Inc., Double Barrel RSS, Nabors Industries, Ltd., Gyrodata Incorporated, and D-Tech Rotary Steerable.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The onshore segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Growing need for renewable energy sources and negative environmental impact are estimated to be the growth hindering factors for the market expansion.
T he market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.