Market Size of Asia-Pacific Drilling Waste Management Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Drilling Waste Management Services Market Analysis
The Asia-Pacific drilling waste management services market is expected to grow at a CAGR of more than 2% throughout 2020-2025. Factors such as upstream activities, particularly exploration and drilling activities, which continue to expand across the Asia-Pacific, are set to increase the demand for oilfield services in the region. The upcoming drilling activities across the region are likely to augment the drilling waste management services market in the coming years. Increasing government regulations, such as reducing pollution because of the release of harmful gases and landfills during drilling activities, are expected to drive the drilling waste management services market during the forecast period. However, the lack of skilled labor and high initial investments are some of the factors restraining the market from growth.
- Crude Growing drilling activity, particularly offshore drilling activity, is expected to drive the drilling waste management services market during the forecast period. Also, the offshore drilling waste management is highly capital intensive, as compared to that of onshore services.
- Increase in the exploration and production (E&P) activities in deep-water and ultra-deepwater reservoirs is expected to increase the number of wells drilled, and drive the demand for the oilfield services, thereby creating the opportunity for the Asia-Pacific drilling waste management services market.
- China is expected to lead the drilling waste management services market during the forecast period owing to extensive and widespread exploration and production activities in the region, especially in the South China sea.
APAC Drilling Waste Management Services Industry Segmentation
The Asia-Pacific drilling waste management services market report include:
| Service | |
| Solid Control | |
| Containment & Handling | |
| Others |
| Location of Deployment | |
| Onshore | |
| Offshore |
| Geography | |
| India | |
| China | |
| Malaysia | |
| Indonesia | |
| Rest of Asia-Pacific |
Asia-Pacific Drilling Waste Management Services Market Size Summary
The Asia-Pacific drilling waste management services market is poised for growth, driven by expanding upstream activities such as exploration and drilling across the region. This growth is further supported by increasing government regulations aimed at reducing pollution from drilling activities. However, challenges such as a shortage of skilled labor and high initial investment costs may hinder market expansion. Offshore drilling activities, particularly in deep-water and ultra-deepwater reservoirs, are expected to significantly contribute to market growth, despite being capital intensive. The market is also set to benefit from the rise in exploration and production activities in regions like the South China Sea and Bay of Bengal, with China anticipated to lead due to its extensive exploration and production efforts.
China's dominance in the market is bolstered by its status as a major oil producer and its use of advanced drilling techniques to recover unconventional hydrocarbons. The country's openness to foreign investment in oil and gas exploration is expected to further stimulate market growth. Technological advancements, such as staged fracturing completion in horizontal wells, are also anticipated to enhance oil and gas extraction efficiency, supporting market expansion. The market is moderately fragmented, with key players including Schlumberger Ltd., Halliburton Company, Baker Hughes Company, Weatherford International plc, and China Oilfield Services Ltd., all contributing to the competitive landscape.
Asia-Pacific Drilling Waste Management Services Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD billion, until 2025
-
1.3 Recent Trends and Developments
-
1.4 Governemnt Policies and Regulations
-
1.5 Market Dynamics
-
1.5.1 Drivers
-
1.5.2 Restraints
-
-
1.6 Supply-Chain Analysis
-
1.7 PESTLE Analysis
-
-
2. MARKET SEGMENTATION
-
2.1 Service
-
2.1.1 Solid Control
-
2.1.2 Containment & Handling
-
2.1.3 Others
-
-
2.2 Location of Deployment
-
2.2.1 Onshore
-
2.2.2 Offshore
-
-
2.3 Geography
-
2.3.1 India
-
2.3.2 China
-
2.3.3 Malaysia
-
2.3.4 Indonesia
-
2.3.5 Rest of Asia-Pacific
-
-
Asia-Pacific Drilling Waste Management Services Market Size FAQs
What is the current Asia-Pacific Drilling Waste Management Services Market size?
The Asia-Pacific Drilling Waste Management Services Market is projected to register a CAGR of 2% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Drilling Waste Management Services Market?
Schlumberger Ltd , Halliburton Company , Baker Hughes Company , Weatherford International plc. and China Oilfield Services Ltd. are the major companies operating in the Asia-Pacific Drilling Waste Management Services Market.
