Description
The
global drilling waste management market is expected to reach USD 7.13 billion
by 2025, according to a new report by Grand View Research, Inc. Growing
ecological awareness towards effective treatment and disposal of drilling
wastes coupled with strict regulations to enforce the laws will boost the
market growth.
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Increasing
drilling activity for natural gas exploration along with growing construction
sites for residential and commercial spaces is predicted to drive the global
drilling waste management market over the forecast timeframe. Applications of
the market include onshore and offshore drilling wastes. Onshore application
segment is the dominant sub-segment of the market, while the offshore
application is predicted to witness significant growth by 2025. North America
leads the onshore application segment owing to the unprecedented domestic
production levels crude oil, largely due to the wide adoption of innovative
technologies including hydraulic fracturing and horizontal drilling, signalling
the onset of a shale revolution.
The
drilling waste management market is also segmented based on services, including
treatment & disposal, containment & handling, and solids control. In
2016, Treatment & disposal accounted for 39.2% of the market share, largely
owing to onsite burial sites including landfills and pits, land-spreading,
land-farming, incineration & thermal treatment, slurry injection and
bioremediation. Treatment & disposal services are chiefly dominant in
Europe and North America owing to increasingly strict regulations including
zero-discharge standards that direct drilling companies to effectively treat
and reuse all drilling waste generated, and forbid any dumping, especially in
water bodies like rivers or seas.
Further key findings from the report
suggest:
•
The U.S. drilling waste management market will witness growth of 3.79% CAGR
over the forecast period. The slowdown in the oil and gas market has deeply
impacted the drilling markets in the country, with some estimates suggesting
60% decrease in rig drilling. High break-even costs and longer gestation
periods in shale exploration and production have further impacted industry
growth.
•
In 2025, UK drilling waste management market is predicted to be valued at USD
0.39 billion. The country has large scale onshore and offshore drilling
activities and is among the first nations in the world to introduce stringent
waste management legislation.
•
China drilling waste management market is expected to grow at 12.09% CAGR. The
country is expected to undertake large scale offshore exploration projects to
discover natural gas reserves
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Table of Contents
Chapter 1. Methodology and Scope
1.1.
Research Methodology
1.2.
Research Scope & Assumptions
1.3.
List of Data Sources
1.4.
List of Abbreviations
Chapter 2. Executive Summary
2.1.
Market Snapshot
Chapter 3. Drilling Waste Management Market
Variables, Trends & Scope
3.1.
Market Segmentation & Scope
3.2.
Penetration & growth prospect mapping, 2014 - 2025
3.3.
Value chain analysis
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