Directional Drilling Services Market Size, Share, Growth Analysis, By Type(Conventional, and Rotary Steerable Systems (RSS)), By Location(Onshore, and Offshore), By Well Type(Horizontal, Multilateral, and Extended Reach), By Region - Industry Forecast 2024-2031

Global Directional Drilling Services Market size was valued at USD 7.62 billion in 2022 and is poised to grow from USD 8.68 billion in 2023 to USD 24.41 billion by 2031, growing at a CAGR of 13.8% in the forecast period (2024-2031).

The directional drilling services market is increasing at a healthy pace due to its growing importance in onshore and offshore oil and gas exploration activities. Also, increasing utilization of these systems in underground activities such as building, surveying, and cable installation is contributing to the overall market growth. The North American region is the most profitable marketplace for directional drilling service providers to earn high profits. This can be due to the presence of major end-use industries. As the world population is exhibiting continuous growth, the need for energy is increasing. Directional drilling services are likely to witness major demand in emerging economies due to the increasing need for power. The oil and gas industry across the globe is also a major consumer of directional drilling services. Furthermore, technological advancements are leading to the development of drilling systems with improved performance. Integration of technologies such as real-time data monitoring and measurement while drilling is boosting the overall efficiency of drilling services.