The horizontal directional drilling market was valued at US$ 2,802.69 million in 2022 and is anticipated to reach US$ 6,420.45 million by 2030; the market is expected to register a CAGR of 10.9% during 2022–2030. The upsurging offshore drilling activities for crude oil and gas exploration are boosting the demand for horizontal directional drilling equipment.
Surge in energy demand due to the growing global population. For instance, India is the third largest energy-consuming country worldwide, owing to improved living standards; after China and the US, India's energy consumption has doubled since 2000. As per The US Energy Information Administration (EIA), US energy consumption is anticipated to grow through 2050 owing to economic and population growth. Natural gas has the potential application in electricity generation, which boosts its demand in various industries. In addition, the increase in offshore oil & gas exploration activities bolsters the expansion of gas pipeline infrastructure, which is propelling the application of horizontal directional drilling equipment. Thus, the rising infrastructure development in the sewer & water and oil & gas sectors drives the horizontal directional drilling market
Installing sewage pipelines, development of broadband services in rural areas, and installing electricity transmission lines involve drilling activities, which need horizontal directional drilling equipment. Adequate water supply, proper sanitation, including waste management, assured electricity supply, and efficient urban mobility are a few of the necessities of the smart city. Developing new infrastructures such as universities, schools, housing, and IT data centers requires a high level of drilling activities for the installation of underground pipelines and cables, which is anticipated to boost the application of horizontal directional drilling equipment in the coming years.
The increasing urbanization and growing government emphasis on infrastructure development that involves telecom network expansion in rural areas are a few factors increasing the application of horizontal directional drilling equipment. The onshore and offshore mineral exploration requires a high level of drilling activities, which boosts the application of horizontal directional drilling equipment across the globe. Governments of various countries are working on mineral exploration projects as one of the major parts of their economic development. Thus, rising infrastructure development in the telecommunications and mineral exploration sectors fuels the horizontal directional drilling market growth.
Mineral exploration activities are one of the major application areas of horizontal directional drilling equipment. The mineral exploration sites require a high level of drilling activities, which is boosting the demand for horizontal directional drilling equipment in various nations. Countries such as Australia, China, Russia, Brazil, Canada, and the US are widely involved in mineral exploration activities. These countries are also promoting the discovery of new mineral exploration sites and upgrading and maintenance of already existing sites. In addition, in 2024, KO Gold Inc. entered into an exploration permit acquisition agreement with NewPeak NZ Ltd., NewPeak Metals Ltd., and Neil Stuart and secured two exploration permits in New Zealand. Thus, the growing number of government initiatives for discovering new mineral exploration projects and increasing focus on maintaining the already existing mining sites are anticipated to offer major opportunities for the horizontal directional drilling market growth during the forecast period.
Key segments that contributed to the derivation of the horizontal directional drilling market analysis are end-use, rig size, and application.
The geographic scope of the horizontal directional drilling market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America is leading the horizontal directional drilling market. The region demonstrates high investments in the oil & gas industry. The US is a key natural gas and crude oil producer globally. Increasing gas exploration and oil production activities in the region and the mounting number of oil & gas rigs across different countries of North America drive the horizontal directional drilling market growth. The rising demand for broadband services in North America is anticipated to boost investments in the cable network. The next-generation broadband technologies such as high-speed internet packages (FTTx) and 5G are increasing the deployment of cables, which is propelling the need for horizontal directional drilling activities in the region.
The regional trends and factors influencing the Horizontal Directional Drilling Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Horizontal Directional Drilling Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,802.69 Million |
| Market Size by 2030 | US$ 6,420.45 Million |
| Global CAGR (2022 - 2030) | 10.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2022-2030 |
| Segments Covered |
By End-use
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Horizontal Directional Drilling Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Horizontal Directional Drilling Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Horizontal Directional Drilling Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
The “Horizontal Directional Drilling Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering the following areas: