Global Drilling Waste Management Market Value to cross USD 8.2 BN by end of 2025
Posted On October 21, 2019
Value Market Research, a renowned market research company, recently released a report on the Global Drilling Waste Management Market. The market was able to generate USD 6 BN (by revenue) in 2018 and is estimated to reach USD 8.2 BN by 2025 as per the report. The CAGR is foreseen to be around 4% between 2019 and 2025.The Drilling Waste Management market is expecting growth due to rising environmental concerns and high rate of expenditure from oil & gas companies in conducting their exploration activities. Additionally, the growth is also attributed to the effective implementation of drilling waste management, in an effort to curb the hazardous waste effectively. Certain concerns like lack of skilled personnel in this market might dip the growth in next six years but high focus on reaching zero discharge along with dedicated research & development activities for better technology is likely to ensure market opportunities under the study period of 2019 to 2025.
The drilling waste management processes are useful in the oil and gas industry. In this industry drilling fluids and drill cuttings are generated as drilling wastes which need to be managed, as this impacts the environment negatively. Drilling waste management assists in proper disposal and treatment of these wastes. Government of various countries have proactively implemented regulatory policies thus, making the waste management mandatory across the industry.
The report “Global Drilling Waste Management Market Report By Type (Drying Shake, Cutting Dryer, Decanter Centrifuge, Submersible Slurry Pump, And Screw Pump), Application (Onshore Rigs And Offshore Rigs) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2018-2025” facilitates access to high end data collected through rigorous research. The drilling waste management market is studied to its complete horizon.
The report sub-grouped the market by type and application. By type the market is segmented into - drying shake, cutting dryer, decanter centrifuge, submersible slurry pump, screw pump. Cutting Dryer accounted for largest share in past due to its innovativeness, reliability and high efficiency towards reducing waste. By application the market is grouped as onshore rigs and offshore rigs. Onshore Rigs accounted for largest share due to their convenience and ease of usage above offshorerigs.Geographically the report studies the North America, Europe, Asia Pacific, Latin America, and Middle East & Africa Market in detail. North America accounted for largest share in the past and is anticipated to lead due to major share in the oil and gas industry and increase in exploration activities in the near future. Due to stringent regulatory policies the market growth prospects seems high in this region.
The Report Segments Global Drilling Waste Management Market –
Submersible Slurry Pump
Players Profiled In The Report:
GN Solids Control, Kosun, FD Petrol Group, Imdex Limited, Scomi Group Bhd, Step Oil Tools, Baker Hughes, Derrick, Halliburton, National Oilwell Varco, Newalta, Ridgeline Energy Services, Schlumberger, Secure Energy Services, Soli-Bond, Tervita, Weatherford International Ltd, Augean PLC, Solitech As, Twma
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