San Francisco, 19 December 2018: 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.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/conventional-energy
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
Access Press Release of
Drilling Waste Management Market@ www.grandviewresearch.com/press-release/global-drilling-waste-management-market
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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