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.
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| North America horizontal directional drilling market by end-use, 2012-2022, (USD Million) |
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.
Browse full
research report on Horizontal Directional Drilling Market: www.grandviewresearch.com/industry-analysis/horizontal-directional-drilling-hdd-market
Further
key findings from the report 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: 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: 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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