Waste management in industrial drilling environment ensures the recycling, recovery and safe disposal of drilling wastes. The techniques in waste management facilitate the industry in order to keep the environment clean and match the regulatory directives.The technology helps to manage huge quantity of waste generated while drilling. With the help of waste management solutions, adherence to government regulations is simpler. The research provides in-depth analysis of the market with comprehensive market overview to assist business planning to the potential entrants.
The driving factors for the market are increasing environmental awareness, stringent regulations posed by governments across world, etc. The market faces limitation due to challenges in business operations and tough competition. Rising offshore exploration activities possesses opportunities for future growth of the market.
Waste Management Market in Drilling by Services
According to services, market is categorized as per solids control, containment & handling and treatment & disposal. The market is currently driven by treatment & disposal services due to stringent environmental regulations across world.
Waste Management Market in Drilling by Applications
From applications viewpoint, market is broadly classified into onshore and offshore applications. As a result of ongoing and expected developments in offshore drilling activities, the market is witnessing tremendous growth.
Waste Management Market in Drilling by Geography
Geographically, market is categorized into regions such as North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA). North America and European regions are contributing largely to the market share due to higher number of production activities. This market is expected to witness rapid growth in Asia-Pacific countries in due to increasing industrialization and urbanization.
To penetrate into the market, companies are adopting expansion strategies. For example, Scomi is expanding its services in global markets. There is tough competition among key players such as Halliburton Energy Services, Secure Energy Services, National Oilwell Varco, Schlumberger, Newalta, Scomi, Baker Hughes, Tervita, Weatherfold International Ltd. and Soli Bond.
HIGH LEVEL ANALYSIS
The research provides detailed analysis of the market using Porter’s five forces model. Degree of bargaining powers of customers is estimated to increase due to entries of multiple companies in the market. Threat of substitutes is low due to higher switching costs. Degree of intersegment rivalry is high and expected to become more intense due to presence of numerous players. Threat of new entrants is low due to higher initial investment.
The global waste management market in drilling is classified according to services, applications, and geographies.
MARKET BY SERVICES
MARKET BY APPLICATION
MARKET BY GEOGRAPHIES