According to Stratistics MRC, the Global Drilling Waste Management market is estimated at $3.89 billion in 2016 and is expected to reach $6.23 billion by 2023 growing at a CAGR of 6.9% from 2016 to 2023. Factors such as growing environmental concerns, increasing oil exploration and production activities, stringent government regulations and rising awareness regarding hazardous effects are influencing the market growth. In addition, future improvements in shale gas exploration along with ongoing R&D in offshore drilling are projected to provide huge opportunities for industry participants over the forecast period. However, intense competition in the service market and slump in crude oil prices are some of the key factors inhibiting the market growth.
Amongst Application, onshore segment held the major share and is anticipated to grow at a stable rate during the forecast period. Onshore finds its major market in the North American and European region. North America is anticipated to be the leading regional market over the next seven years due to large number of onshore wells coupled with growing exploration activities in Gulf region. The market for oil & gas drilling onshore is the most matured in the region. Additionally, there is an increase in the usage of hydraulic fracturing and horizontal drilling techniques in shale gas exploration in America.
Some of the key players in the market include Xi’an Kosun Machinery Co., Ltd., Weatherford International Ltd., TWMA Ltd.,Tervita Corporation, Step Oiltools, Specialty Drilling Fluids Ltd., Soli-Bond, Inc., Soiltech as, Secure Energy Services, Inc., Scomi Group BHD,Schlumberger Ltd., Ridgeline Canada, Inc., Nuverra Environmental Solutions, Newalta, National Oilwell Varco, Inc., Imdex Limited, Hebei Gn Solids Control Co. Ltd., Halliburton Co., Derrick Equipment Company, Baker Hughes, Inc. and Augean PLC.
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• Treatment & Disposal
• Solids Control
• Recycling and Recovery
• Containment & Handling
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
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- Market share assessments for the regional and country level segments
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- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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