USD 8.21 billion
Global Drilling Stabilizers Market Size, Share, Growth Analysis, By Type(Integral Blade Stabilizer, Welded Stabilizer), By Application(Directional Well, Vertical Well), By Location(Onshore, Offshore) - Industry Forecast 2022-2028
Report ID: SQMIG20I2039 | Region: Global | Published Date: November, 2022 | Pages: 253 | Tables: 88 | Figures: 66
Global Drilling Stabilizers Market Insights
Global Drilling Stabilizers Market Size was valued at USD 8.21 billion in 2021, and it is expected to reach a value of USD 11.41 billion by 2028, at a CAGR of 5.95% over the forecast period (2022-2028).
The drilling stabilizer is a crucial component of a drill string's bottom hole assembly (BHA). In order to prevent accidental vibration, sidetracking, and trapped pipe, it stabilizes the BHA in the borehole. The stabilizing blades of the drilling stabilizers are made of high-strength steel, and the body is hollow and cylindrical. The drilling stabilizer market may be divided based on type, application, place, and geography.
The demand for better well drilling efficiency and lower well costs is the main factor driving the drilling stabilizer market. The main purpose of a drilling stabilizer is to keep the drill collar away from the borehole wall and to concentrate the drill collar's weight on the bit. It improves supply flexibility, decreases vibration, boosts lateral stability, and lowers well costs. Apart from this, as drilling activities both onshore and offshore increase globally, the drilling stabilizer market is anticipated to expand more quickly. As a result, it is projected that the sector would control the market over the forecast period. Market opportunities are being created for investors and drilling stabilizer producers by the exploration of new markets in the developing nations of South America and the Asia-Pacific.
Market snapshot
Global Market Size
Largest Segment
Offshore
Fastest Growth
Offshore
Growth Rate
5.95% CAGR
Global Drilling Stabilizers Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Drilling Stabilizers Market Size By Location 2022-2028 ($ Bn)
Global Drilling Stabilizers Market Size By Location 2022-2028 (%)
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Global Drilling Stabilizers Market Segmental Analysis
The Global Drilling Stabilizers Market is segmented based on type, application, location and region. Based on Type, it is categorized into Integral Blade Stabilizer, Welded Stabilizer, and Replaceable Sleeve Stabilizer. Based on Application, it is categorized into Directional Well, and Vertical Well. Based on Location, it is categorized into Onshore and Offshore. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Analysis by Type
On the basis of type, the integral blade stabilizer segment is expected to dominate the market over the forecast period. This is because the Integral Blade Stabilizer segment is expected to hold the largest market share and see the highest CAGR of 8.68 % over the course of the forecast year. Integral blade stabilizers come in both string and near-bit versions and feature hard-faced spiral ribs in their design. These stabilizers have right-hand spirals in the typical configuration.
Analysis by Location
On the basis of location, the offshore segment is expected to dominate the market over the forecast period. The offshore applications are expected to experience the highest CAGR of 9.10 % of the projection period. In North America the offshore based drilling stabilizer showed the largest share with 36% of the market.
Global Drilling Stabilizers Market By Location, 2021 (%)
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Global Drilling Stabilizers Market Regional Insights
Based on the region, the North American region currently dominates the global drilling stabilizers market. North America is home to developed nations with large reserves of oil and gas. One of the world's top producers of crude oil and natural gas, the United States contributed 18.6% and 23.7%, respectively, to worldwide output in 2021. The vigorous drilling of shale gas reservoirs in the Permian Basin was primarily responsible for the output increase. The most significant basin and market for drilling equipment in the US are the Permian Basin. The completion of 900 wells in the Permian Basin in 2021 will result in a significant increase in demand for drilling equipment in the US. Due to growing oil and gas development and production, which are directly tied to drilling tool demand, drilling tool demand has surged in the United States.
On the other hand, new investment in oil and gas projects decreased significantly in Canada. Upstream exploration and production (E&P) operations are expected to rise, notably in the oil sands and shale regions, as oil prices recover to a sustainable level. According to the EIA's statistical report for 2021, additional drilling is predicted to result in a 0.4 million b/d rise in crude oil output in 2022 as long as prices stay at or close to US$ 50 per barrel.
Global Drilling Stabilizers Market By Geography, 2022-2028
- Largest
- Fastest
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Global Drilling Stabilizers Market Dynamics
Driver
- The main factor driving the drilling stabilizer market is the demand for improved well drilling efficiency and lower well costs. A drilling stabilizer's primary function is to keep the drill collar apart from the borehole wall and to concentrate the drill collar's weight on the bit. It increases supply flexibility, reduces vibration, increases lateral stability, and reduces well costs.
Restraint
- The enormous cost savings on well drilling that can be achieved by using one of the many drilling stabilizers that are also available as per customized needs is what is anticipated to restrain market expansion. As a result, this market is not significantly constrained, but the price fluctuations of crude oil and the growing concern about lowering well costs may have an impact on the need for drilling stabilizers.
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Global Drilling Stabilizers Market Competitive Landscape
In addition to recent regulatory approvals, there has been an increase in R&D for the treatment of Drilling Stabilizers, as shown by the increased inclusion of the condition in the clinical pipelines of the leading market participants. For the Morquio syndrome, for instance, Shire is conducting a Phase 3 Study, Ultragenyx Pharmaceutical Inc. is testing a medicine (AGT 181) in a clinical trial, and ArmaGen, Inc. is also testing a treatment for the syndrome in young patients. The market for treatments for Drilling Stabilizers is expanding as a result of this as well as increased disease awareness.
Top Player’s Company Profiles
- National Oilwell Varco (US)
- Sandvik AB (Sweden)
- Schlumberger (US)
- Tasman (Netherlands)
- Drillstar Industries (France)
- WeatherfordInternational (US)
- Adriatic Europe (Italy)
- Sovonex Technology (China)
- LOG Oiltools (Hungary)
- Dando Drilling International Ltd (UK)
Recent Development
- In June 2021, In the Tarim Basin in Northwest China's Xinjiang Uygur Autonomous Region, China National Petroleum Corporation (CNPC) identified a new one billion tonne super-deep oil and gas region. The newly discovered well is situated in the Tarim Oilfield's major block for producing crude oil, the Fuman Oilfield region. It broke previous records for the largest oil production and the highest oil column in the Tarim Basin's arid region with drilling depths of 8,470 meters and 550 meters, respectively.
- In June 2021, In the Tarim Basin in the Xinjiang Uygur Autonomous Region of northwest China, China National Petroleum Corporation identified a new one billion tonne super-deep oil and gas region in June 2021. The newly found well is situated near the Fuman Oilfield. The Tarim Oilfield's primary building block for producing crude oil set new marks for the most profound oil production and the tallest oil column in the Tarim Basin's desert region with a drilling depth of 8,470 meters and 550 meters, respectively.
Global Drilling Stabilizers Key Market Trends
- Emergence of the drill bit as a major tool: One of the most important instruments used in oil and gas drilling operations is the drill bit. To find and extract oil and gas from the earth's crust, it is designed to cut underneath strata of the earth made up of different types of rocks. Based on its design, the instrument is separated into two categories: roller cone bits and fixed cutter bits. With over 80% of the worldwide drill bit market, fixed cutter bits outperformed roller cone bits in terms of market share. Roller cone bits, while being an extremely outdated technology, are nevertheless used in the drilling business because of their affordability and durability. The commercial success of fixed cutter bits has been made possible by advancements in drilling techniques, bit designs, hydraulics, and ongoing technological innovations in fixed cutter technology. Unlike roller cone bits, fixed cutter bits don't have any moving elements or bearings. The bit's blades, which are an essential component, are permanently mounted with cutters. In the current drill bit market, polycrystalline diamond compact (PDC) bits dominate this category and have a substantially larger market share than roller cone bits.
Global Drilling Stabilizers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global hydraulic dosing pump market is currently led by countries in the North American region, due to the large reserves of oil and gas in this region. Along with this, the integral blade stabilizers segment is projected to lead the market as it is expected to hold the largest market share over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 8.21 billion |
| Market size value in 2028 | USD 11.41 billion |
| Growth Rate | 5.95% |
| Base year | 2021 |
| Forecast period | 2022-2028 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Drilling Stabilizers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Drilling Stabilizers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Drilling Stabilizers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Drilling Stabilizers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Drilling Stabilizers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Drilling Stabilizers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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