North America Drilling Services Market is Estimated to Reach $98,936.4 Million in 2019

Fort Worth, TX, June 25, 2015 (Newswire.com) - The drilling services market in North America was valued at $83,733.8 million in 2014, and is estimated to reach $98,936.4 million by 2019, at a CAGR of 3.4% from 2014 to 2019.

Browse through the TOC of North America Drilling Services Market for an analysis of industry trends, segments & forecasts.

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The key factor driving the drilling services market in North America is the increase in energy demand in the U.S., Canada, and Mexico. The abundance of oil and natural gas reserves in the U.S., oil sands in Canada, and new energy reforms in Mexico has made North America an energy superpower. Oil production in the U.S. is expected to rise to 11.6 million barrels a day by 2020, as it taps rock and shale layers in North Dakota and Texas with the use of horizontal drilling and hydraulic fracturing.

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Drilling wells more efficiently to meet the increasing demand is one of the major factors that will drive this market even in the face of the steep decline in oil prices. The U.S. held the largest market share of 70.0% in 2014 within the North American drilling services market, and was followed by Canada with a market share of 22.0%.

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The major types in the concerned market are contract drilling, directional drilling, logging while drilling, and drilling waste management. The market has been analyzed in terms of the major countries in the North American market, such as the U.S., Canada, and Mexico. The core applications considered in this report are onshore and offshore.

Related Report:

European Drilling Waste Management Market

Globally, Europe is the second-largest market for drilling waste management, and is projected to grow at a CAGR of 4.2% during the forecast period of 2014 to 2019.

http://www.micromarketmonitor.com/market/europe-drilling-waste-management-8697170849.html

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