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The report is titled ‘Geosteering Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the geosteering market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The geosteering market is expected to grow at a significant rate in the near future.
The geosteering market size was valued at US$ 7.1 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2020 to 2028.
Geosteering can be perceived as the science, or perhaps art, of keeping a near transverse burr hold or wellbore within a preconfigured and usually slim geological covering. Geosteering, most commonly stated as next-generation directional control, utilizes a composite of real-time electronic logs, analysed details of drilling clippings, and other particulars from several different tools to distinguish absolute insights on the rock layer that is being perforated.
There are numerous geosteering software and services available in the market that together with other equipment are employed to recoup the accurate information of the site being perforated. The equipment and tools comprises MWD tools, LWD tools, mud motors, RSS and other drive systems, and others.
The rapidly growing world’s population is enormously elevating the demand for gas and oil all across the world, which is majorly expected to boost the growth of the global geosteering market in the years to come. As an instance, as per the Organization of the Petroleum Exporting Countries (OPEC), the world oil demand stood at 97.32 million barrels per day in the year 2017, however, the worldwide supply stood at 96.10 million barrels per day. Attributing to which, the global geosteering market is projected to witness huge demand in the forthcoming years.
In addition to that, the swift advances in the technology and enhanced attention on the production of natural gas are further estimated to elevate the demand for geosteering technology in the near future. Owing to which, the global geosteering market is estimated to witness massive breakthroughs over the forecast period.
The geosteering market is segmented on the basis of component, tools, and region.
Software
Services
LWD Tools & Technologies
Density Image (DI) Tools
Resistivity Image (RI) Tools
Directional deep Resistivity (DDR) Tools
MWD Tools
Rotary Steerable Systems (RSS)
Drive Systems
3D Seismic/Grid Model
Others (Mud Motors, etc.)
North America
Latin America
Europe
Africa
Middle East
Asia Pacific
The key participating players of the global geosteering market include Cougar Drilling Solutions, Emerson Paradigm Holding LLC, Schlumberger Limited, GeoSteering Technologies, Petrolink, Geo-Steering Solutions Inc., Halliburton, Exlog, Geotech Logging Services LLC, United Oil & Gas Consulting Ltd., HMG Software, Horizontal Solutions International, Maxwell Dynamics, Terracosm Software, LLC, LMKR, Rogii Inc., and Lloyd's Register Group Services Ltd., among others.
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the geosteering market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of Geosteering
Advantages of Geosteering
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Geosteering Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Geosteering Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Geosteering Market Snapshot
2.4. Global Geosteering Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Geosteering Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Porter’s Five Forces Model
2.7. SWOT Analysis
3. Geosteering Assessment and Analysis
3.1. Geosteering Impact Analysis
3.2. Actions to encourage use of Geosteering
3.3. Geosteering Promotional Strategy Recommendation
3.4. Road Map Analysis
3.5. GAP Analysis
3.6. Potential Analysis
4. Covid-19 Impact on Geosteering Market
4.1. Impact Analysis of Covid-19 on the global Geosteering market
4.2. Effect On Value Chain
4.3. Business Impact W.R.T Revenue
4.4. Volatility In Price
4.5. Effect On The Overall Trade
4.6. Market Impact Analysis In 2020 (Quarter Wise)
5. Global Geosteering Market, By Component
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Component
5.1.2. BPS Analysis, By Component
5.2. Market Revenue (US$Mn) and Forecast, By Component
5.2.1. Software
5.2.2. Services
5.3. Global Geosteering Market Attractiveness Index, By Component
6. Global Geosteering Market, By Tools
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Tools
6.1.2. BPS Analysis, By Tools
6.2. Market Revenue (US$Mn) and Forecast, By Tools
6.2.1. LWD Tools & Technologies
6.2.1.1. Density Image (DI) Tools
6.2.1.2. Resistivity Image (RI) Tools
6.2.1.3. Directional deep Resistivity (DDR) Tools
6.2.2. MWD Tools
6.2.2.1. Rotary Steerable Systems (RSS)
6.2.2.2. Drive Systems
6.2.2.3. 3D Seismic/Grid Model
6.2.2.4. Others (Mud Motors, etc.)
6.3. Global Geosteering Market Attractiveness Index, By Tools
7. Global Geosteering Market, By Region
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Region
7.1.2. BPS Analysis, By Region
7.2. Market Revenue (US$Mn) and Forecast, By Region
7.2.1. North America
7.2.2. Latin America
7.2.3. Europe
7.2.4. Asia Pacific
7.2.5. Middle East
7.2.6. Africa
7.3. Global Geosteering Market Attractiveness Index, By Region
8. North America Geosteering Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market Revenue (US$Mn) and Forecast, By Country
8.2.1. U.S. Geosteering Market
8.2.2. Canada Geosteering Market
8.3. North America Geosteering Market, By Component
8.3.1. Software
8.3.2. Services
8.4. North America Geosteering Market, By Tools
8.4.1. LWD Tools & Technologies
8.4.1.1. Density Image (DI) Tools
8.4.1.2. Resistivity Image (RI) Tools
8.4.1.3. Directional deep Resistivity (DDR) Tools
8.4.2. MWD Tools
8.4.2.1. Rotary Steerable Systems (RSS)
8.4.2.2. Drive Systems
8.4.2.3. 3D Seismic/Grid Model
8.4.2.4. Others (Mud Motors, etc.)
8.5. North America Geosteering Market Attractiveness Index
8.5.1. By Country
8.5.2. By Component
8.5.3. By Tools
9. Latin America Geosteering Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market (US$Mn) Forecast, By Country
9.2.1. Brazil Geosteering Market
9.2.2. Mexico Geosteering Market
9.2.3. Rest Of Latin America Geosteering Market
9.3. Latin America Geosteering Market, By Component
9.3.1. Software
9.3.2. Services
9.4. Latin America Geosteering Market, By Tools
9.4.1. LWD Tools & Technologies
9.4.1.1. Density Image (DI) Tools
9.4.1.2. Resistivity Image (RI) Tools
9.4.1.3. Directional deep Resistivity (DDR) Tools
9.4.2. MWD Tools
9.4.2.1. Rotary Steerable Systems (RSS)
9.4.2.2. Drive Systems
9.4.2.3. 3D Seismic/Grid Model
9.4.2.4. Others (Mud Motors, etc.)
9.5. Latin America Geosteering Market Attractiveness Index
9.5.1. By Country
9.5.2. By Component
9.5.3. By Tools
10. Europe Geosteering Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. U.K. Geosteering Market
10.2.2. Germany Geosteering Market
10.2.3. Italy Geosteering Market
10.2.4. France Geosteering Market
10.2.5. Spain Geosteering Market
10.2.6. Russia Geosteering Market
10.2.7. Rest Of Europe Geosteering Market
10.3. Europe Geosteering Market, By Component
10.3.1. Software
10.3.2. Services
10.4. Europe Geosteering Market, By Tools
10.4.1. LWD Tools & Technologies
10.4.1.1. Density Image (DI) Tools
10.4.1.2. Resistivity Image (RI) Tools
10.4.1.3. Directional deep Resistivity (DDR) Tools
10.4.2. MWD Tools
10.4.2.1. Rotary Steerable Systems (RSS)
10.4.2.2. Drive Systems
10.4.2.3. 3D Seismic/Grid Model
10.4.2.4. Others (Mud Motors, etc.)
10.5. Europe Geosteering Market Attractiveness Index
10.5.1. By Country
10.5.2. By Component
10.5.3. By Tools
11. Asia Pacific Geosteering Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. China Geosteering Market
11.2.2. India Geosteering Market
11.2.3. Japan Geosteering Market
11.2.4. Australia and New Zealand Geosteering Market
11.2.5. South Korea Geosteering Market
11.2.6. Rest of Asia Pacific Geosteering Market
11.3. Asia Pacific Geosteering Market, By Component
11.3.1. Software
11.3.2. Services
11.4. Asia Pacific Geosteering Market, By Tools
11.4.1. LWD Tools & Technologies
11.4.1.1. Density Image (DI) Tools
11.4.1.2. Resistivity Image (RI) Tools
11.4.1.3. Directional deep Resistivity (DDR) Tools
11.4.2. MWD Tools
11.4.2.1. Rotary Steerable Systems (RSS)
11.4.2.2. Drive Systems
11.4.2.3. 3D Seismic/Grid Model
11.4.2.4. Others (Mud Motors, etc.)
11.5. Asia Pacific Geosteering Market Attractiveness Index
11.5.1. By Country
11.5.2. By Component
11.5.3. By Tools
12. Middle East Geosteering Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. GCC Countries Geosteering Market
12.2.2. Israel Geosteering Market
12.2.3. Rest Of Middle East Geosteering Market
12.3. Middle East Geosteering Market, By Component
12.3.1. Software
12.3.2. Services
12.4. Middle East Geosteering Market, By Tools
12.4.1. LWD Tools & Technologies
12.4.1.1. Density Image (DI) Tools
12.4.1.2. Resistivity Image (RI) Tools
12.4.1.3. Directional deep Resistivity (DDR) Tools
12.4.2. MWD Tools
12.4.2.1. Rotary Steerable Systems (RSS)
12.4.2.2. Drive Systems
12.4.2.3. 3D Seismic/Grid Model
12.4.2.4. Others (Mud Motors, etc.)
12.5. Middle East Geosteering Market Attractiveness Index
12.5.1. By Country
12.5.2. By Component
12.5.3. By Tools
13. Africa Geosteering Market Analysis and Forecast, 2020–2028
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. South Africa Countries Geosteering Market
13.2.2. Egypt Geosteering Market
13.2.3. North Africa Geosteering Market
13.2.4. Rest of Africa Geosteering Market
13.3. Africa Geosteering Market, By Component
13.3.1. Software
13.3.2. Services
13.4. Africa Geosteering Market, By Tools
13.4.1. LWD Tools & Technologies
13.4.1.1. Density Image (DI) Tools
13.4.1.2. Resistivity Image (RI) Tools
13.4.1.3. Directional deep Resistivity (DDR) Tools
13.4.2. MWD Tools
13.4.2.1. Rotary Steerable Systems (RSS)
13.4.2.2. Drive Systems
13.4.2.3. 3D Seismic/Grid Model
13.4.2.4. Others (Mud Motors, etc.)
13.5. Africa Geosteering Market Attractiveness Index
13.5.1. By Country
13.5.2. By Component
13.5.3. By Tools
14. Competitive Landscape
14.1. Company Profiles
14.1.1. Cougar Drilling Solutions
14.1.1.1. Company Overview
14.1.1.2. Financial Overview
14.1.1.3. Key Developments
14.1.1.4. Strategies
14.1.1.5. Product Analysis
14.1.2. Emerson Paradigm Holding LLC
14.1.3. Schlumberger Limited
14.1.4. GeoSteering Technologies
14.1.5. Petrolink
14.1.6. Geo-Steering Solutions Inc.
14.1.7. Halliburton
14.1.8. Exlog
14.1.9. Geotech Logging Services LLC
14.1.10. United Oil & Gas Consulting Ltd.
14.1.11. HMG Software
14.1.12. Horizontal Solutions International
14.1.13. Maxwell Dynamics
14.1.14. Terracosm Software, LLC
14.1.15. LMKR
14.1.16. Rogii Inc.
14.1.17. Lloyd's Register Group Services Ltd.
15. Acronyms