Borehole Equipment Market 2019| Global Industry Report By Product, Material 2023

Posted by sarahbennu on August 20th, 2019

Borehole enlargement systems market 2019-2023, borehole enlargement systems market growth, borehole enlargement systems market forecast. The report provides an analysis of the market based on the demand in the onshore application. A key factor driving the growth of the market is the rise in oil and natural gas demand. As per the EIA, in 2018, the global liquid fuel consumption increased to 100.09 mbpd from 92.16 mbpd in 2013. The global liquid fuel consumption grew at an annual rate of 1.66% during 2015-17, owing to the increase in the global demand for oil and gas and is expected to grow at a high rate during the forecast period.This market research report on the global borehole enlargement systems market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the emergence of laser drilling technology in the oil and gas industry as one of the key emerging trends in the global borehole enlargement systems market:

Global borehole enlargement systems market: Emergence of laser drilling technology in the oil and gas industry

The production of oil and natural gas needs to be high to meet the rising demand. Oil production involves drilling activities in both onshore and offshore locations. There have been several advances in drilling technologies to optimize the drilling process. Laser drilling technology is one such advancement.

Global borehole enlargement systems market: Segmentation analysis

This market research report segments the global borehole enlargement systems market by application (onshore and offshore) and geographical regions (the Americas, APAC, and EMEA).

The onshore segment held the largest market share in 2018, accounting for nearly 94% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 with a market share of nearly 51%. This region is expected to dominate the market through 2023.

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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