The global demand for Rotary Steerable System Market is presumed to reach the market size of nearly USD 8.64 BN by 2030 from USD 4.5 BN in 2022 with a CAGR of 8.5% under the study period 2023 - 2030.
A rotary steerable system (RSS) is an advanced drilling technology widely applied in the oil and gas industry to control the direction of a wellbore during drilling operations. Unlike traditional drilling methods that rely on changing the orientation of the entire drill string to change the well's trajectory, this system allows for real-time control of the well's path without stopping the rotation of the drill string.
The rotary steerable system (RSS) market within the oil and gas industry was driven by several factors. Complex reservoirs and the depletion of easily accessible hydrocarbon reserves led to increased interest in exploring unconventional and challenging formations. This technology gained traction due to its ability to precisely navigate such reservoirs, enhancing drilling efficiency and enabling extended reach wells. The potential for faster drilling and reduced operational downtime contributed to cost savings, despite the initial higher investment. The technology's accuracy also minimized environmental impact and drilling risks. As the industry sought to tap into unconventional resources like shale, RSS optimized drilling techniques for these reservoirs. Advancements in sensors, data analytics, and automation improved RSS systems, enhancing their appeal. Safety benefits, global energy demand, market competitiveness, and industry trends also played roles in driving the RSS market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of rotary steerable system. The growth and trends of rotary steerable system industry provide a holistic approach to this study.
This section of the rotary steerable system market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Drill Hole Size
By Well Type
By Application
This section covers the regional outlook, which accentuates current and future demand for the Rotary Steerable System market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Rotary Steerable System market include Halliburton, Schlumberger Limited., Weatherford, APS Technology Inc., Baker Hughes, a GE Company LLC, National Oilwell Varco, Double Barrel RSS, Nabors Industries Ltd., Gyrodata incorporated, Leam Drilling Systems LLC., Target Energy Inc., Gyrodata. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . ROTARY STEERABLE SYSTEM – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Drill Hole Size
3.7.2 Market Attractiveness Analysis By Well Type
3.7.3 Market Attractiveness Analysis By Application
3.7.4 Market Attractiveness Analysis By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . GLOBAL ROTARY STEERABLE SYSTEM MARKET ANALYSIS BY DRILL HOLE SIZE
5.1 Overview by Drill Hole Size
5.2 Historical and Forecast Data
5.3 Analysis by Drill Hole Size
5.4 Less Than 5 Inch Historic and Forecast Sales by Regions
5.5 5 To 7 Inch Historic and Forecast Sales by Regions
5.6 7 To 10 Inch Historic and Forecast Sales by Regions
5.7 10 To 15 Inch Historic and Forecast Sales by Regions
5.8 Above 15 Inch Historic and Forecast Sales by Regions
6 . GLOBAL ROTARY STEERABLE SYSTEM MARKET ANALYSIS BY WELL TYPE
6.1 Overview by Well Type
6.2 Historical and Forecast Data
6.3 Analysis by Well Typ ...