Oil and Gas Magnetic Ranging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The market is segmented by Location of Deployment (Offshore and Onshore) and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Oil and Gas Magnetic Ranging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Oil & Gas Magnetic Ranging Market Size

Oil and Gas Magnetic Ranging Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 5.00 %
Fastest Growing Market North America
Largest Market North America

Major Players

Oil and Gas Magnetic Ranging Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Oil and Gas Magnetic Ranging Market with other markets in Energy & Power Industry

Oil and Gas

Power

Battery

Decommissioning

Emerging Energy Technologies

Energy Storage Technology

Oil & Gas Magnetic Ranging Market Analysis

The oil and gas magnetic ranging market is expected to grow at a CAGR of more than 5% during the forecast period of 2020-2025. With increasing directional and horizontal drilling, precise well drilling is becoming difficult, which is driving the need for magnetic ranging tools. Additionally, growing mature fields are expected to undergo EOR methods like assisted gravity drainage, which can result in the growth of the market. On the other hand, the decline in crude oil prices owing to the weaker demand from the consumers has led to a decrease in the drilling activities, and thus, the market for magnetic ranging is also likely to be hindered during the forecast period.

  • Application of magnetic ranging is likely to dominate in the onshore sector, owing to large scale drilling projects and maturing fields in onshore.
  • With increasing horizontal drilling and directional drilling, along with injector wells, the deployment of magnetic ranging is likely to increase, creating significant market opportunities.
  • North America, with its vast reserves of recoverable shale gas and tight oil reserves in the world, is dominating in the magnetic ranging market and is expected to continue its dominance in the forecast period.

Oil & Gas Magnetic Ranging Industry Overview

The oil and gas magnetic ranging market is consolidated. Some of the major companies include Prime Horizontal Group of Companies, Halliburton Company, Weatherford International plc, Bartington Instruments Ltd., and Scientific Drilling International Inc.

Oil & Gas Magnetic Ranging Market Leaders

  1. Halliburton Company

  2. Weatherford International plc

  3. Scientific Drilling International Inc

  4. Prime Horizontal Group of Companies

  5. Bartington Instruments Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Prime Horizontal Group of Companies, Halliburton Company, Weatherford International plc, Bartington Instruments Ltd., and Scientific Drilling International Inc.
Need More Details on Market Players and Competiters?
Download PDF

Oil & Gas Magnetic Ranging Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of Study
  • 1.2 Market Definiton
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2025
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitute Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Location of Deployment
    • 5.1.1 Offshore
    • 5.1.2 Onshore
  • 5.2 Geogrpahy
    • 5.2.1 North America
    • 5.2.2 Europe
    • 5.2.3 Asia-Pacific
    • 5.2.4 Middle-East and Africa
    • 5.2.5 South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Halliburton Company
    • 6.3.2 Weatherford International plc
    • 6.3.3 Scientific Drilling International Inc
    • 6.3.4 Prime Horizontal Group of Companies
    • 6.3.5 Bartington Instruments Ltd.
    • 6.3.6 China Oilfield Services Limited
    • 6.3.7 GMW Associates
    • 6.3.8 Gunnar Energy Services
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Oil & Gas Magnetic Ranging Industry Segmentation

The oil and gas magnetic ranging market report includes:

Location of Deployment Offshore
Onshore
Geogrpahy North America
Europe
Asia-Pacific
Middle-East and Africa
South America
Need A Different Region or Segment?
Customize Now

Oil & Gas Magnetic Ranging Market Research FAQs

What is the current Oil and Gas Magnetic Ranging Market size?

The Oil and Gas Magnetic Ranging Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Who are the key players in Oil and Gas Magnetic Ranging Market?

Halliburton Company , Weatherford International plc , Scientific Drilling International Inc , Prime Horizontal Group of Companies and Bartington Instruments Ltd. are the major companies operating in the Oil and Gas Magnetic Ranging Market.

Which is the fastest growing region in Oil and Gas Magnetic Ranging Market?

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

Which region has the biggest share in Oil and Gas Magnetic Ranging Market?

In 2024, the North America accounts for the largest market share in Oil and Gas Magnetic Ranging Market.

What years does this Oil and Gas Magnetic Ranging Market cover?

The report covers the Oil and Gas Magnetic Ranging Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Oil and Gas Magnetic Ranging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Oil and Gas Magnetic Ranging Industry Report

Statistics for the 2024 Oil and Gas Magnetic Ranging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oil and Gas Magnetic Ranging analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.