September 23, 2021

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Horizontal Directional Drilling (HDD) Market- to Growing at a CAGR of over 12.5% during the forecast period

The global Horizontal Directional Drilling (HDD) market generated revenue of around USD 7,500 million in 2020 and anticipated to grow at a CAGR of over 12.5% during the forecast period from 2021 to 2027 to reach around USD 18,000 million in 2027.  

Horizontal Directional Drilling (HDD) is a technique used for the installation of pipelines and cables beneath earth surface. This method is called as trenchless technique. Horizontal Directional Drilling is one of the important types of trenchless techniques used for horizontal drilling. Horizontal Directional Drilling is used for accurate and precise drilling.  

Key Trends in Global Horizontal Directional Drilling (HDD) Market

Increasing demand for sustainable drilling

Horizontal Directional Drilling is widely known for its sustainable drilling capabilities. Horizontal Directional Drilling is popular choice of horizontal direction drilling owing to multitude of benefits offered by it. Horizontal Directional Drilling can perform drilling operations without or minimal destruction of the surrounding environment with lesser impact on ecosystem. Horizontal Directional Drilling techniques can install multiple pipes through minimum possible bore holes and thus reduces the number of bore holes need to be drilled. This in turn save huge amount of money as well as time. Increasing infrastructure projects in urban areas around the world are demanding Horizontal Directional Drilling techniques owing to its ability to perform drilling activities without causing traffic congestion and inconvenience to the people. Moreover, Horizontal Directional Drilling also facilitate little or no contamination of ground water. These benefits make it most sustainable Horizontal Directional Drilling techniques and thus fueling growth of this industry.                       

Impact of COVID 19 on Global Horizontal Directional Drilling (HDD) Market

COVID 19 has considerable impact on revenue generation of Horizontal Directional Drilling market. In the wake of COVID 19, most of the governments have imposed strict regulation regarding mobility of people as well as goods. Moreover, most of the infrastructure projects including electric transmission lines, oil & gas pipelines, etc. This in turn affected the demand for Horizontal Directional Drilling to great extent in 2020. COVID 19 resulted into decline of 20% in total revenue generated by the global Horizontal Directional Drilling market as compare to 2019.  

Global Horizontal Directional Drilling (HDD) Market by Type Insights

Machines and services are two major types of global Horizontal Directional Drilling (HDD) market. Services segment accounted for the largest share of the total revenue generated by the global Horizontal Directional Drilling market in 2020.

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Global Horizontal Directional Drilling (HDD) Market by Application Insights

Offshore and onshore are the two major application areas for the global Horizontal Directional Drilling market. Offshore Horizontal Directional Drilling accounted for the vast majority in the revenue generation of Horizontal Directional Drilling in 2020. It accounted for over 55% share in 2020.                        

Global Horizontal Directional Drilling (HDD) Market by End-user Insights

Global Horizontal Directional Drilling market is segmented based on end-user industries such as Oil & Gas, Energy & Utility (Water, Gas, Oil Products & Power Distribution), Telecommunication and Others. Oil & Gas dominated the global Horizontal Directional Drilling market in 2020 with over 40% share.                         

Global Horizontal Directional Drilling (HDD) Market by Regional Insights

North America was the largest market for Horizontal Directional Drilling in 2020 and accounted for over 35% share in total revenue generation. North America has the largest network of oil & gas pipeline and power transmission lines. Moreover, large number of ongoing infrastructure projects in United States and Canada are expected to keep driving the market growth of Horizontal Directional Drilling in the region. However, Asia Pacific is also expected to exhibit highest CAGR over the forecast period. Europe also holds the significant market share and likely to hold its prominent position in the market.           

Global Horizontal Directional Drilling (HDD) Market Competitive Landscape

Most prominent players in the global Horizontal Directional Drilling market include Ditch Witch, Prime Drilling GmbH, American Augers, Inc., Vermeer Corporation, Ellingson Companies, The Toro Company, Drillto Trenchless Co. Ltd, Zoomlion ElectroMech India Pvt Ltd, XCMG Group, CNH Industrial America LLC and others. The report covers very detailed profiles of these key players.

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Market Segmentation

Global Horizontal Directional Drilling (HDD) Market by Type, 2015 – 2027

  • Machines
  • Services      

Global Horizontal Directional Drilling (HDD) Market by Application, 2015 – 2027

  • Onshore
  • Offshore

Global Horizontal Directional Drilling (HDD) Market by End-user, 2015 – 2027

  • Oil & Gas
  • Energy & Utility (Water, Gas, Oil Products & Power Distribution)
  • Telecommunication
  • Other

Global Horizontal Directional Drilling (HDD) Market by Region, 2015 – 2027

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Global Horizontal Directional Drilling (HDD) Market: Key Players

  • Ellingson Companies
  • Vermeer Corporation
  • American Augers, Inc.
  • Ditch Witch
  • Prime Drilling GmbH
  • XCMG Group
  • The Toro Company
  • Drillto Trenchless Co. Ltd
  • CNH Industrial America LLC
  • Others  

Get Sample Copy of This Report With Covid19 Impact Analysis: https://www.credenceresearch.com/sample-request/58995 

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