Drilling Waste Management Market Product Category, Distributors, Size Estimation From 2014-2025
Drilling Waste Management Market is expected to cross USD 7.13 billion by 2025 and is expected to reach at a CAGR of 6.57% in the forecast period due to rise in environmental concern toward effective drilling waste management
Drilling Waste Management Market is expected to cross USD 7.13 billion by 2025 and is expected to reach at a CAGR of 6.57% in the forecast period due to rise in environmental concern toward effective drilling waste management
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<strong>Drilling</strong> <strong>Waste</strong> <strong>Management</strong> <strong>Market</strong> <strong>Product</strong> <strong>Category</strong>,<br />
<strong>Distributors</strong>, <strong>Size</strong> <strong>Estimation</strong> <strong>From</strong> <strong>2014</strong>-<strong>2025</strong><br />
“<strong>Drilling</strong> <strong>Waste</strong> <strong>Management</strong> <strong>Market</strong> is expected to cross USD 7.13 billion by<br />
<strong>2025</strong> and is expected to reach at a CAGR of 6.57% in the forecast period due to<br />
rise in environmental concern toward effective drilling waste management.”<br />
The global <strong>Drilling</strong> <strong>Waste</strong> <strong>Management</strong> <strong>Market</strong> is expected to cross USD 7.13 billion by <strong>2025</strong> and is expected to<br />
reach at a CAGR of 6.57% in the forecast period due to rise in environmental concern toward effective drilling<br />
waste management. Activities pertaining to oil & gas exploration, logistics and transportation entail a potential<br />
risk to surroundings and atmosphere. These activities are production, work-over operations, gas plant<br />
operations, and completion operations. The type of wastes in the drilling operation include heavy metals, drilling<br />
fluid, and mud. The toxicity of drilling waste determines the deterioration of life and health of living beings due<br />
to exposure of toxic substances. Toxicities are determined through bioassays and exposure to laboratory<br />
animals to different amounts of toxic substance. On the other hand, the overall process of drilling oil and gas<br />
produces very large volumes of mud and drill cuttings. Hence, offshore and onshore methods have followed a<br />
wide range of methods to manage drilling wastes.<br />
Strict regulations by the government and environmental concerns are driving the drilling waste management<br />
system market. Rise in ecological awareness in the international market is another factor boosting the market<br />
growth. In addition, rise in investments in the mining and construction sector is anticipated to contribute<br />
significantly to the market growth in the forecast period. <strong>Drilling</strong> waste management industry is segmented<br />
based on service, application, and geography. Service categories for drilling waste management market include<br />
containment and handling, solids and control & treatment, and disposal. “Treatment and disposal” category<br />
dominates the market segment owing to increasing popularity.<br />
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Containment handling stands second to the segmental growth in the forecast period due to efficient methods<br />
of service. Application category for drilling waste management industry includes onshore and offshore. Onshore<br />
applications registered a CAGR of 6.1% in 2016 and is anticipated to exhibit a higher growth during the forecast<br />
period. Offshore applications witness a moderate growth due to slowing of oil and gas sector that contributes<br />
majorly to the drilling waste management market.<br />
Geographical segmentation for drilling waste management industry spans North America, Latin America,<br />
Europe, Asia-Pacific, Middle East and Africa. Europe and North America are sizeable markets due to extensive<br />
production ofoil and gas coupled with stability in oil prices. Asia-Pacific’s drilling waste management market<br />
accounts for a slightly higher growth due to rise in export of oil and gas for commercial and industrial use. Rise<br />
in government regulations in the offshore regions and rising awareness regarding environmental pollution are<br />
likely to drive the APAC’s market growth in the forecast period.<br />
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In the Middle East and Africa, the market witnesses potential opportunities in form of exploration activities due<br />
to oil & gas reserves in these regions. Stern policies by government for offshore projects triggers the inclination<br />
towards drilling waste management processes. The key players in the drilling waste management industry<br />
include Soli-Bond <strong>Waste</strong> Processing Services, Secure Energy Services Inc., Weatherford International Ltd.,<br />
Soiltech AS, TWMA, STEP OILTOOLs, Specialty <strong>Drilling</strong> Fluids Limited, and Tervita Corporation.<br />
<strong>Market</strong> Segment:<br />
Technology Outlook (Revenue, USD Billion, <strong>2014</strong> - <strong>2025</strong>)<br />
• Treatment & Disposal<br />
• Solids Control<br />
• Containment & Handling<br />
Application Type Outlook (Revenue, USD Billion, <strong>2014</strong> - <strong>2025</strong>)<br />
• Onshore<br />
• Offshore<br />
Regional Outlook (Revenue, USD Billion, <strong>2014</strong> - <strong>2025</strong>)<br />
• North America<br />
• U.S.<br />
• Canada<br />
• Mexico
• Europe<br />
• Russia<br />
• Norway<br />
• UK<br />
• Asia Pacific<br />
• China<br />
• India<br />
• Australia<br />
• Central & South America<br />
• Brazil<br />
• Argentina<br />
• Venezuela<br />
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