The global horizontal
directional drilling market size is expected to reach USD 14.95 billion by
2022, growing at a CAGR of over 14% from 2015 to 2022, according to a new
report by Grand View Research, Inc.
Horizontal Directional Drilling (HDD), which is a
trenchless technique used for the installation of underground cables, pipes,
and conduits along a pre-determined path by using a surface-launched drilling
rig, has gained immense prominence on account of negligible damage caused to
the topography of the surrounding area.
The growth prospects for this market are bullish due
to high demand originating from the telecommunications sector. Telecom
companies have started taking measures in order to make 4G and 5G services
available to all, which has consequently increased the demand for installation
of cellular towers. Demand from utilities (electricity distribution, natural
gas distribution) is expected to remain steady throughout the forecast period,
thereby ensuring uniform growth of the HDD market.
Substantial HDD projects as a result of unqualified
engineers and consultants without any prior HDD project design experience hired
by owners and lack of contractor review for constructability prior to project
inception are some of the challenges faced by the HDD industry.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/horizontal-directional-drilling-hdd-market
Further
key findings from the study suggest:
- Projected to grow at a CAGR of 15% from 2015 to
2022, telecommunications is expected to drive the horizontal directional
drilling market over the forecast period. Fiber and telecommunication
cable deployments have witnessed an upsurge over the last few years and
are not expected to show any signs of weakening over the next seven years.
The digitization trend has been gradually adopted by both, developed and
developing countries worldwide and cable & broadband providers are
striving hard to expand their networks to address the growing demand.
- Utilities contributed to over 55% of the overall
revenue in 2014, and the sector is expected to continue being a key
application area for HDD throughout the forecast period. This can be
attributed to the growing need for electricity, water, and natural gas
supply to cater to the needs of the expanding population.
- North America contributed to over 30% of the
horizontal directional drilling market revenue and is expected to continue
growing steadily over the next seven years, with telecommunication and
energy garnering a major chunk of the revenue share. Asia Pacific is
projected to grow at a CAGR of close to 15%, the high growth being
attributed to increased demand for utility installations and growing
broadband subscribers, particularly in China, India, Australia, and Japan.
- HDD equipment manufacturers including Vermeer,
Ditch Witch, Midwest Underground, and Universal HDD provide drilling
machines of varying thrusts and spindle torques depending on the
application area. Some equipment manufacturers also forward integrate and
provide contracting services to the end users, leveraging their expertise
in the domain.
- Contractors such as UEA, Ferguson Michiana,
Michels Corporation, and Nabors form a key element of the value chain.
They are responsible for the execution of a complete project, from
procuring equipment from the manufacturers, investigating the drilling
site to determine feasibility, employ experienced drillers, monitor the
HDD process and ensure that drilling standards are followed and ensure
overall safety.
Browse more reports of this category
by Grand View Research: http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand
View Research has segmented the global horizontal directional drilling market
on the basis of end-use and region:
HDD End-Use Outlook (Revenue, USD Billion, 2012 - 2022)
- Utilities
- Telecommunication
- Others
HDD Regional Outlook (Revenue, USD Billion, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-horizontal-directional-drilling-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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