Drilling Waste Management Market Headed for Growth and Global Expansion by 2025
Drilling waste management is classified on the basis of service type such as solid control, treatment & disposal, containment & handling, and others. Among service type, treatment and disposal service segment accounted for largest share in drilling waste management market. This is mainly owing to the onsite burial sites which include landfill and pits, land farming, land spreading, slurry injection, thermal treatment, and bioremediation. The solid control segment is expected to witness significant growth, owing to the efficiency of the process. This service segment is used to remove unwanted solids such as drill cuttings from drilling fluid, removes gases, and other contaminants in the mud, providing maximum recovery for re-use of drilling fluids. Drilling waste management is also classified on the basis of application such as onshore and offshore. Onshore application segment holds the largest revenue share in the drilling waste management market, due to wide operations based on land. Furthermore, onshore drilling offers large options for storage and transport of oil after extracting it from the well.
Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/990
North America holds a dominant position in the global drilling waste management market, with 36.40% market share. This is due to various drilling activities produced by the increase of the shale gas. The U.S. Shale Revolution significantly increases its oil and gas production, one of the biggest event for oil & gas industry. The regulations in the U.S. promote the development of oil & gas, providing a stable process. The stabilization of oil prices may result in increasing drilling activities in North America, which in turn, drives the market growth.
Europe holds the second largest position, in terms of revenue, in the global drilling waste management market. The market is driven by growing exploration activities, supportive regulations, and increasing awareness towards environmental pollution. Environmental regulations such as zero discharge policy in the offshore region drives the market growth. The used drilling mud is considered as a kind of mining waste, thus, it is subjected to 20/2006/EC mining waste directive, as per European legislation. The drilling mud cannot be disposed on landfill facility and can be re-injected into underground strata.
In Middle East and Africa, the discoveries of gas in Mozambique and Tanzania and increased E&P (Exploration & Production) activities in Kenya and Uganda, holding untapped oil and gas reserve potential in the region. The stringent environmental norms for offshore projects and any spillage may result in additional operation cost, ensuring the adoption of drilling waste management by the industry.
Drilling waste management is a constituent of successful operation activities related to E&P operations, which is essential for effective drilling and production operation and for environmental protection. The waste streams from drilling includes drilling fluids, cuttings, and interfacial mixtures. Large E&P (Exploration & Production) activities, growing environmental concerns, and stringent government regulations are some of the factors which is expected to fuel growth of the drilling waste management market during the forecast period. The discovery of deep-water hydrocarbon reserves created several opportunities for the oil and gas manufacturers, supporting the growth of market. However, slump in crude oil prices hamper the market growth.
Among service type, treatment and disposal segment accounted to held major share in the drilling waste management market in 2016. Factors such as high initial investment and lack of skilled labor is expected to hamper the market growth.
Major Players in the Global Drilling Waste Management Market
Some of the key players operating in the global drilling waste management market are Halliburton Co., Weatherford International Ltd., National Oilwell Varco, Inc., Xi’an Kosun Machinery Co., Ltd., Tervita Corporation, TWMA Ltd., Step Oiltools, Soli-Bond, Inc. Specialty Drilling Fluids Ltd., Soiltech, Scomi Group BHD, Secure Energy Services, Inc., Schlumberger Ltd., Nuverra Environmental Solutions, Ridgeline Canada, Inc., Newalta, Hebei Gn, Solids Control Co. Ltd., Imdex Limited, Baker Hughes, Inc., Derrick Equipment Company, and Augean PLC
Request For Customization as per Your Need : https://www.coherentmarketinsights.com/insight/request-customization/990
You may be interested
New Study Links Plastic Degradation to Emission of Greenhouse GasesMohit Joshi - December 12, 2018
Researchers from University of Hawaii at Manoa revealed that degradation of plastic leads to emission of several greenhouse gases. Plastic is a widely used material, owing to…
Hearing Aid Market Segmented by Type, Market Demand Industry Growth, Trends and Forecasts 2018 to 2023Albert R - December 11, 2018
Worldwide Market Reports recently released "Hearing Aid Market Report 2017 to 2023". Most recent market Value and Sales Price in the Hearing Aid Market report classifies the…
Hair drier 2018 – 2023 Future Demand Analysis, Industry sizes, competition, Market overviewsAlbert R - December 11, 2018
Worldwide Market Reports recently released "Hair drier Market Report 2017 to 2023". Most recent market Value and Sales Price in the Hair drier Market report classifies the…