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Global Drilling Waste Management Market 2018-2022 | Increase in Oil Rig Count to Boost Demand | Technavio

August 31, 2018

LONDON--(BUSINESS WIRE)--Aug 31, 2018-- analysts forecast the global drilling waste management market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global drilling waste management market from 2018-2022. (Graphic: Business Wire)

The rising investments in shale gas is one of the major trends being witnessed in the . Shale is a sedimentary rock formation with natural gas trapped inside. These formations have fine grains and are good sources for obtaining petroleum and natural gas. Shale has low permeability, and it ensures that the gas is not lost through the cracks of the rock. Horizontal drilling and hydraulic fracturing are the techniques used to harness shale gas. This process involves the application of pressure on the shale rock by using a combination of sand, water, and detergents to fracture the rock and allow the gas to rise to the surface.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global drilling waste management market is the increase in oil rig count:

Global drilling waste management market: Increase in oil rig count

Various drilling and production projects that were planned were kept on hold until the oil prices stabilized. Several exploration and drilling projects across the world were canceled due to these variations in prices. During 2014, the global rig count was high. A decline in the number of active rigs started post 2014 with a sharp decline in 2015 and 2016 during which the crude oil prices reached the rock bottom.

According to a senior analyst at Technavio for research on oil and gas, “The global rig count reduced at a rate of nearly 14.65% year-over-year till 2016 and kept declining till mid-year of 2017. After this period, crude oil prices started recovering gradually, along with a rise in the rig count. This was due to a gradual increase in onshore and offshore drilling projects due to a relative increase in profit margins for oil and gas companies.”

Global drilling waste management market: Segmentation analysis

The global drilling waste management market research report provides market segmentation by service type (solid control, treatment, recycling, recovery, disposal, and containment and handling) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

68% of the incremental growth is expected to originate from the EMEA region followed by the Americas and APAC with 22% and 10%, respectively.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20180831005191/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST

INDUSTRY KEYWORD: ENERGY OIL/GAS PROFESSIONAL SERVICES ENVIRONMENT OTHER PROFESSIONAL SERVICES

SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 08/31/2018 08:38 AM/DISC: 08/31/2018 08:38 AM

http://www.businesswire.com/news/home/20180831005191/en

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