The latest market report published by Credence Research, Inc. “Global Horizontal Directional Drilling (HDD) Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. Global Horizontal Directional Drilling Equipment Market is projected to increase at a significant CAGR of 6.5% in the coming years. In 2021, the global horizontal directional drilling equipment market was valued at USD 8.9 billion and projected to reach USD 13.0 billion by 2028.
Horizontal Directional Drilling is a technique used to efficiently and accurately achieve drilling operations along with back ream the essential pipe, side-lining different obstacles on the bore track without significant collateral harm to the subsurface ecosystems. The rising concerns about the need to reduce the environmental damage triggered by rising industrialization and urbanization worldwide due to the adoption of horizontal directional drilling equipment for boring and drilling operations.
Key players in the global HDD equipment market include Laney Directional Drilling, Nabors Industries Ltd., UEA, American Augers, Inc., Barbco, Inc., Creighton Rock Drill Ltd., The Charles Machines Works, Inc. (Ditch Witch), Ellingson Companies, Mccloskey International, Mclaughlin Group, Inc., Nawtek GmbH, and Herrenknecht AG. These players focus on product development and technological innovation to gain a competitive edge.
Vietnam’s Horizontal Directional Drilling (HDD) market dynamics showcase a remarkable growth trajectory in recent years. As the country rapidly develops its infrastructure, HDD has emerged as an essential technology for underground pipe laying and utility installations. The increasing demand for efficient and cost-effective drilling methods has fueled the expansion of this market segment. Moreover, Vietnam’s ambitious plans to enhance its transportation network, including highways, railways, and pipelines, have further propelled the need for advanced HDD solutions.
With innovative technologies such as guided boring systems and trenchless drilling techniques gaining momentum in the industry, Vietnam is witnessing a significant shift towards environmentally friendly practices that minimize disruptions to urban areas during construction projects.
The need to reduce excavation and shoring costs, along with increased mining and construction projects, drives market growth. The time efficiency of HDD compared to other techniques also contributes to market demand. High operating costs and significant capital investment required for HDD equipment pose restraints to market growth.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Horizontal Directional Drilling (HDD) Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Horizontal Directional Drilling (HDD) Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.