Drilling Waste Management Market Estimated To Reach $7.13 Billion By 2025 | Key Industry Players Augean PLC, Halliburton, Schlumberger
San Francisco, 17
December 2018 - The
global drilling waste management market is expected to
reach USD 7.13 billion by 2025, according to a new report by Grand View
Research, Inc. Growing ecological awareness towards effective treatment and
disposal of drilling wastes coupled with strict regulations to enforce the laws
will boost the market growth.
Increasing
drilling activity for natural gas exploration along with growing construction
sites for residential and commercial spaces is predicted to drive the global
drilling waste management market over the forecast timeframe. Applications of
the market include onshore and offshore drilling wastes. Onshore application
segment is the dominant sub-segment of the market, while the offshore
application is predicted to witness significant growth by 2025. North America
leads the onshore application segment owing to the unprecedented domestic
production levels crude oil, largely due to the wide adoption of innovative
technologies including hydraulic fracturing and horizontal drilling, signalling
the onset of a shale revolution.
The drilling
waste management market is also segmented based on services, including
treatment & disposal, containment & handling, and solids control. In
2016, Treatment & disposal accounted for 39.2% of the market share, largely
owing to onsite burial sites including landfills and pits, land-spreading,
land-farming, incineration & thermal treatment, slurry injection and
bioremediation. Treatment & disposal services are chiefly dominant in
Europe and North America owing to increasingly strict regulations including
zero-discharge standards that direct drilling companies to effectively treat
and reuse all drilling waste generated, and forbid any dumping, especially in
water bodies like rivers or seas.
To request a sample copy
or view summary of this report:
www.grandviewresearch.com/industry-analysis/drilling-waste-management-market
www.grandviewresearch.com/industry-analysis/drilling-waste-management-market
Further key
findings from the report suggest:
- The U.S. drilling waste management market will witness growth of
3.79% CAGR over the forecast period. The slowdown in the oil and gas
market has deeply impacted the drilling markets in the country, with some
estimates suggesting 60% decrease in rig drilling. High break-even costs
and longer gestation periods in shale exploration and production have
further impacted industry growth.
- In 2025, UK drilling waste management market is predicted to be valued
at USD 0.39 billion. The country has large scale onshore and offshore
drilling activities and is among the first nations in the world to
introduce stringent waste management legislation.
- China drilling waste management market is expected to grow at 12.09%
CAGR. The country is expected to undertake large scale offshore
exploration projects to discover natural gas reserves.
Grand View Research has segmented the global
drilling waste management market on the basis of product and region:
Technology Outlook (Revenue, USD Billion, 2014 - 2025)
- Treatment & Disposal
- Solids Control
- Containment & Handling
ApplicationTypeOutlook (Revenue, USD Billion, 2014 - 2025)
- Onshore
- Offshore
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- Norway
- UK
- Asia Pacific
- China
- India
- Australia
- Central & South America
- Brazil
- Argentina
- Venezuela
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Egypt
Access Press Release Of This Research
Report by Grand View Research:
www.grandviewresearch.com/press-release/global-drilling-waste-management-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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