The Report Drilling Waste Management Market Analysis By
Application (Offshore, Onshore), By Service (Treatment & Disposal, Solids
Control, Containment & Handling), By Region, And Segment Forecasts, 2018 –
2025
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.
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.
Access Research Report of Drilling
Waste Management Market @ www.grandviewresearch.com/industry-analysis/drilling-waste-management-market
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.
Grand View Research has
segmented the global drilling waste management market on the basis of product
and region:
Technology Outlook (Revenue, USD Billion, 2014 - 2025)
·
Treatment & Disposal
·
Solids Control
·
Containment & Handling
ApplicationTypeOutlook (Revenue, USD Billion, 2014 -
2025)
·
Onshore
·
Offshore
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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