Global Drilling Waste Management Market – Size, Projections, Drivers, Trends, Vendors, and Analysis Through 2021 by Technavio

LONDON–(BUSINESS WIRE)–#OilandGas–The global
drilling waste management market is projected to grow to
USD 4,968.64 million by 2021, at a CAGR of more than 4% over the
forecast period, according to Technavio’s latest report.

In this report, Technavio
covers the market outlook and growth prospects of the global
drilling waste management market for 2017-2021. Based on the
service type, the market is divided into solid control; treatment,
recycling, recovery, and disposal; and containment and handling segments.

Technavio’s research study segments the global drilling waste management
market into the following regions:

• Americas
• EMEA
• APAC

Drilling waste management market in the Americas

“The shale revolution is one of the biggest events in the recent
past for the oil and gas industry. It has previously inaccessible
reserves to be explored and made profitable. The shale revolution
resulted in excess oil and gas production in the US,” says
Sayani Roy, a lead analyst at Technavio for oil
and gas research.

Shale exploration and production generate large quantities of drilling
waste which need to be treated as per the environmental norms of that
region. The projected stabilization of oil prices is expected to result
in a surge in drilling activities in the Americas, which will drive the
market for waste management services.

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Drilling waste management market in EMEA

The major discoveries of gas reserves in Tanzania and Mozambique, along
with increased exploration activities in Uganda and Kenya show that
there is still untapped oil and gas reserve potential in the region. The
exploration of more number of reserves is expected to boost the drilling
activities, and thereby create additional demand for drilling waste
management activities since both are correlated. Also, the environmental
norms for offshore projects are more stringent, and any spillage would
result in additional operating cost, ensuring the adoption of drilling
waste management by the industry.

Drilling waste management market in APAC

“The drilling waste management market in APAC is expected to grow
at a CAGR of nearly 5%, due to the growing exploration and drilling
activities for unconventional sources such as shale. Stringent
environmental laws will drive the regional and the local players to
invest in drilling waste management,” says Sayani.

The consumption of crude oil in APAC is increasing due to the rising
energy demands in countries such as China, Indonesia, Japan, India, and
South Korea. In India, the Oil and Natural Gas Corporation announced its
plans to invest in shale exploration and drilling activities on the
country’s eastern and western coasts. Also, the approval of Hydrocarbon
Exploration and Licensing Policy in India is in favor of the regional
players, which will boost the demand for waste management.

The top vendors in the global drilling waste management market
highlighted in the report are:

• Baker Hughes
• Halliburton
• National Oilwell Varco
• Schlumberger
• Weatherford

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than 500 technologies across 80 countries. Technavio has about 300
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