UK Markets close in 2 hrs 57 mins

Asia Pacific Geosteering Technology Market to 2027 - COVID-19 Impact and Regional Analysis

Research and Markets
·9-min read

Dublin, Dec. 28, 2020 (GLOBE NEWSWIRE) -- The "Asia Pacific Geosteering Technology Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Measurement-While-Drilling, Rotary Steerable Systems, Drive Systems, and Others and Application" report has been added to ResearchAndMarkets.com's offering.

According to this report the market is expected to reach US$5,610.51 million by 2027 from US$2,766.90 million in 2019. The market is estimated to grow at a CAGR of 13.3% from 2020 to 2027. The report provides trends prevailing in the APAC geosteering technology market along with the drivers and restraints pertaining to the market growth. Escalating demand for precise real-time information to achieve maximum production and surge in production of shale and resulting hike in horizontal and unconventional drilling are the major factor driving the growth of the APAC geosteering technology market. However, high-priced materials and manufacturing process hinder the growth of APAC geosteering technology market.

In the case of COVID-19, APAC is highly affected specially China and India. The APAC region constitutes the world's two most populated countries as well as prominent oil producing countries across the APAC region. China virtually imposed strict lockdown and social isolation, which stopped manufacturing activities which resulted in shrinking its country's demand for oil and other energy commodities.

Thus, the drilling activities across the Chinese region plummeted significantly and resulted in weak demand for geosteering services. Similarly, India also imposed a nationwide lockdown to control the growing number of COVID-19 cases. Subsequently, the lockdown and disruption of various manufacturing activities contributed significantly in reduced drilling activities in oil & gas sector. Thus, the overall decline of activities in oil & gas industries collectively reduced the demand for geosteering technologies across the APAC countries during the early months of the 2020 due to the outbreak of virus in respective countries. The coronavirus outbreak's impact is anticipated to be quite severe in the year 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation will impact the geosteering technology market growth of the APAC region for the next few quarters.

The APAC geosteering technology market is segmented in terms of product, application, and country. Based on the product, the market is segmented into logging while drilling (LWD), measurement-while-drilling (MWD), rotary steerable systems (RSS), drive systems, and others. Logging while drilling (LWD) segment held the largest market share in 2019. Measurement-while-drilling (MWD) segment is expected to be fastest growing during forecast period. Based on the application, the market is segmented into petroleum development, natural gas transportation, and others. The petroleum development segment held the largest share of market in 2019 and is expected to be fastest growing segment during forecast period.

Cougar Drilling Solution Inc.; Emerson Paradigm Holding LLC; Exlog; Geonaft; Halliburton Energy Services, Inc.; ROGII Inc.; Schlumberger Limited are among the leading companies in the APAC geosteering technology market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Emerson Paradigm Holding LLC announced its collaboration with Total S.A. to provide all Total S.A. geo-scientists with company all Paradigm exploration and production (E&P) software to enhance Total's performance of reservoir subsurface modeling and formation evaluation.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC geosteering technology market.

  • Highlights key business priorities in order to assist companies to realign their business strategies

  • The key findings and recommendations highlight crucial progressive industry trends in APAC geosteering technology market, thereby allowing players across the value chain to develop effective long-term strategies

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

  • Scrutinize in-depth APAC market trends and outlook coupled with the factors driving geosteering technology market, as well as those hindering it

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Key Topics Covered:

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. APAC Geosteering Technology Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion

5. APAC Geosteering Technology Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalating Demand for Precise Real-Time Information to Achieve Maximum Production
5.1.2 Surge in Production of Shale and Resulting Hike in Horizontal and Unconventional Drilling
5.2 Market Restraints
5.2.1 High-Priced Materials and Manufacturing Process
5.3 Market Opportunities
5.3.1 Upswing in Initiatives by Market Players for Digitization of Geosteering Technology
5.4 Future Trends
5.4.1 Rising Demand for Intensive R&D
5.5 Impact Analysis of Drivers and Restraints

6. Geosteering Technology Market - APAC Analysis
6.1 APAC Geosteering Technology Market Overview
6.2 APAC Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning - Market Players Ranking

7. APAC Geosteering Technology Market Analysis - By Product
7.1 Overview
7.2 APAC Geosteering Technology Market, By Product (2019 and 2027)
7.3 Logging While Drilling
7.3.1 Overview
7.3.2 Logging While Drilling: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
7.4 Measurement-While-Drilling
7.4.1 Overview
7.4.2 Measurement-While-Drilling: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
7.5 Rotary Steerable Systems
7.5.1 Overview
7.5.2 Rotary Steerable Systems: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
7.6 Drive Systems
7.6.1 Overview
7.6.2 Drive Systems: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)

8. APAC Geosteering Technology Market Analysis - By Application
8.1 Overview
8.2 APAC Geosteering Technology Market, By Application (2019 and 2027)
8.3 Petroleum Development
8.3.1 Overview
8.3.2 Petroleum Development: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
8.4 Natural Gas Transportation
8.4.1 Overview
8.4.2 Natural Gas Transportation: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)

9. APAC Geosteering Technology Market - Country Analysis
9.1 Overview
9.1.1 APAC: Geosteering Technology Market, by Key Country
9.1.1.1 China: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
9.1.1.1.1 China: Geosteering Technology Market, by Product
9.1.1.1.2 China: Geosteering Technology Market, by Application
9.1.1.2 Japan: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
9.1.1.2.1 Japan: Geosteering Technology Market, by Product
9.1.1.2.2 Japan: Geosteering Technology Market, by Application
9.1.1.3 India: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
9.1.1.3.1 India: Geosteering Technology Market, by Product
9.1.1.3.2 India: Geosteering Technology Market, by Application
9.1.1.4 Australia: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
9.1.1.4.1 Australia: Geosteering Technology Market, by Product
9.1.1.4.2 Australia: Geosteering Technology Market, by Application
9.1.1.5 South Korea: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
9.1.1.5.1 South Korea: Geosteering Technology Market, by Product
9.1.1.5.2 South Korea: Geosteering Technology Market, by Application
9.1.1.6 Rest of APAC: Geosteering Technology Market - Revenue, and Forecast to 2027 (US$ Million)
9.1.1.6.1 Rest of APAC: Geosteering Technology Market, by Product
9.1.1.6.2 Rest of APAC: Geosteering Technology Market, by Application

10. Impact of COVID-19 Pandemic - APAC Geosteering Technology Market
10.1 APAC: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape
11.1 Market Initiative
11.2 Merger and Acquisition
11.3 New Development

12. Company Profiles
12.1 Cougar Drilling Solution Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Emerson Paradigm Holding LLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Exlog
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Geonaft
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Halliburton Energy Services, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 ROGII Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Schlumberger Limited
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments

13. Appendix
13.1 About the Publisher
13.2 Word Index

For more information about this report visit https://www.researchandmarkets.com/r/o76a3t

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900