Drilling Waste Management Market: Industry Forecast (2021-2029) by Product, Technology, Application, and Region

The Drilling Waste Management Market size was valued at USD 5.38 Bn. in 2021 and the total revenue is expected to grow by 5.92% from 2022 to 2029, reaching nearly USD 8.52 Bn. The management of drilling waste is a function of the oil and gas sector. To lessen the environmental impact of oil waste and drilling waste, the management of drilling waste is a legal requirement. Drilling waste management industry is being driven by a growth in oil exploration and production. Exploration and production efforts in deep-water and ultra-deep-water areas across the globe are aided by rapid technology advancements that improve drilling and production capability. The drilling waste management market is expected to be driven by stringent regulatory requirements aimed at limiting the spread of water and land contamination as well as financial incentives provided to encourage adoption of properly manage waste generated. But the present downturn in the oil and gas sector has affected investment in the mining and building sectors. Growing environmental consciousness mainly in North America and Europe is expected to spur economic growth.

Research Methodology:

This report provides an systematic representation of the Drilling Waste Management Market as well as current trends and future forecasts to identify potential investment areas. In this report most common services were listed along with how many of them were used in each region of the globe. Secondary research has done to determine the total number of wells drilled worldwide across many different countries, as well as their depth and market impact. Onshore and offshore drilling applications were used to categorise the drilling waste management market, and the split was determined by conducting primary interviews with industry participants, subject-matter experts, High level executives of key market players, and industry consultants, among other experts. These interviews helped to gather and verify crucial qualitative and quantitative data as well as to evaluate future market prospects. The Drilling Waste Management Market report consist of various industry-affecting factors, such as government policy, the competitive landscape, historical data, current market trends, recent technological development, upcoming technologies, as well as market drivers, restraints, opportunities, and challenges. Drilling Waste Management MarketTo know about the Research Methodology :- Request Free Sample Report

Report Scope:

The report provides a complete analysis of the global Drilling Waste Management Market. This report estimates the drilling waste management market, in terms of USD value from 2021 to 2029. This report forecasts revenue growth at global, regional & country levels and provides an detailed analysis on the latest trends in each of the segments from 2021 to 2029. It offers a thorough qualitative and quantitative analysis of this market. Also provides an inclusive review of key market drivers, restraints, opportunities, challenges, and market trends of the market. The Report covers various important aspects of the market. The report consists of an analysis of the value chain, PESTLE Analysis, Porter’s Five Forces model, competitive landscape, Key palyers benchmarking (by Product, Pricin, Investments, Expansion Plans, Physical Presence and Presence in the Market), market dynamics, market forecasts in terms of value, and future trends in the drilling waste management market.

Drilling Waste Management Market Dynamics:

Growing Production and Exploratory Operations in the Oil and Gas Industry

The rise in oil and gas production from places like North America and the Middle East is a direct result of the rise in global energy demand. The region's exploration and production operations have increased as a result of this rise. Drilling is a critical part of the oil and gas exploration and production process (E&P). The amount of drilling waste, which includes drilling mud and cuttings, increases as a result of the growth in drilling activity. As a result, it is crucial to have an appropriate waste management application for drilling procedures that also protects the environment. Opportunities for managing drilling waste are presented by an increase in production and exploratory operations. Many state governments have specific regulations and guidelines for exploration and production wastes, and wastes produced during the exploration and production of crude oil and natural gas are generally subject to regulation under and state regulations. As a result of the rise in the production and exploratory operations, some countries are also creating legislation and regulations, including specifications for waste disposal. Drilling Waste Management Market

Increasing Drilling Waste During Exploration and Production Processs

During the exploration and production of oil, huge amounts of drilling wastes are produced in the form of mud and cuttings. As per conservative estimates, around 0.37 kg of drilling wastes is generated for every barrel of oil produced. The American Petroleum Institute (API) has estimated that approximately 1.21 barrels of total drilling wastes are generated for every foot drilled. Huge quantities of drilling waste, such as mud and cuttings, are created during the oil exploration and production process. According to MMR estimates, For every barrel of oil produced, roughly 0.37 kg of drilling waste are produced. According to the American Petroleum Institute (API), each foot of drilling results in the production of about 1.21 barrels of drilling waste. To reduce waste several companies across the globe are using advance technology. For instance, the oil and gas industry in the Middle East has worked very hard to lessen the environmental impact of its operations. It uses cutting-edge drilling techniques like horizontal drilling and three-dimensional drilling to economically contact and produce resources while causing the least amount of surface disturbance. To avoid harming both the environment and human health, drilling wastes must be handled carefully.  

Growing offshore exploration activities

Offshore oil and gas exploration and production activities across the globe have significantly grown over the last few decades. Currently, offshore production represents one-third of the global crude oil output and one-fourth of global gas production. The majority of the hydrocarbon reserves found in recent years have been offshore, which supports the growing significance of the maritime sector for extraction. Technology advancements have also aided offshore drilling in expanding into deep and ultra-deep oceans, which has increased its significance.  

Impacts of Drilling Waste on the Environment

Numerous drilling-related products and wastes have the potential to have a harmful influence on the environment. The material, its concentration after release, and the exposed biotic community are the main determinants of the potential impact. While certain environmental concerns may be relatively minor, others could be quite high. Air pollution, contamination of the land, and pollution of aquatic bodies are the main effects that are of great concern. Marine life is put at peril when contaminated drill cuttings are improperly disposed of in the ocean. The air is made unhealthy for both humans and animals by the excessive emission of air pollutants from internal combustion engines. Some of these pollutants' consequences include respiratory problems in both humans and animals, damage to plants, and soil acidification. As a result, these factors are expected to restrain the drilling waste management market growth through the forecast period.

Drilling Waste Management Market Segment Analysis:

By Technology, the Drilling Waste Management Market is segmented into Treatment & Disposal, Solids Control, and Containment & Handling. The Solids Control segment is expected to grow at the highest CAGR during the forecast period. The segmnet’s growth is attributed to advantages of Solids Control technology including Increased penetration rates, Lower mud cost and base fluid requirements, Less differential sticking. In addition, Lower pump wear and maintenance cost and Lower disposal cost are also boosting the demand of Solids Control Drilling Waste Management Technology among others. By Application, the onshore segment held the greatest market share in 2021. As the majority of drilling operations are land-based, the onshore application segment is expected to grow at highest CAGR through the forecast period. Its main markets are on the North American and European continents. Due to tight waste management rules, high treatment costs, and a surge in drilling activities in the deep and ultra-deep region, the offshore market is anticipated to grow at a significantly quicker rate. The offshore segment, is expected to increase gradually as a result of the downturn in the oil and gas industry, a key driver of the drilling waste management market. Drilling Waste Management Market

Drilling Waste Management Market Regional Insights

North America and Europe regions make up the major segments of the global drilling waste management market. Due to stringent environmental laws, an increase in well intervention activities, and steady investment in exploration and production (E&P) activities, North America is expected to dominate the drilling waste management market through the forecast period. To stop the environment from deteriorating, the Environmental Protection Agency (EPA) of the United States created a number of rules and regulations. As a result, businesses are more likely to undertake waste management at their well site. Following an incident involving offshore drilling in the Gulf of Mexico in April 2010, the European Union has learned a lesson as a result of an oil spill. The commission has examined its procedures in the wake of the disaster and placed many constraints on oil-producing firms. By taking strict action against rising GHG emissions and drastic measures that would accelerate the growth of the drilling waste management market, Europe is already committed to meeting its 2020 objective. China's and India's growing investments to boost domestic production, the drilling waste management market in the Asia Pacific is growing at a respectable rate. Large-scale exploratory activity is already taking place in the region, and the construction industry is expected to continue to grow over the forecast period. Huge natural gas reserves off the coasts of China and India would also help the sector since demand for natural gas is predicted to rise due to its low emission levels.

Drilling Waste Management Market Scope: Inquire before buying

Drilling Waste Management Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 5.38 Bn.
Forecast Period 2022 to 2029 CAGR: 5.92% Market Size in 2029: US $ 8.52 Bn.
Segments Covered: by Type • Drying Shake • Cutting Dryer • Decanter Centrifuge • Submersible Slurry Pump • Screw Pump
by Technology • Treatment & Disposal • Solids Control • Containment & Handling
by Application • Onshore • Offshore

Drilling Waste Management Market Key Players

Baker Hughes • Halliburton • Schlumberger • Weatherford • National Oilwell Varco • Scomi • Hebei Gn • Derrick Corporation • Augean PLC • Ridgeline Canada • Others FAQs: 1. What is the study period of the market? Ans. The Global Drilling Waste Management Market is studied from 2017-2029. 2. What is the growth rate of Drilling Waste Management Market? Ans. The Drilling Waste Management Market is growing at a CAGR of 5.92% over forecast period. 3. What is the market size of the Drilling Waste Management Market by 2029? Ans. The market size of the Information Technology Market by 2029 is expected to reach at USD 8.52 Bn. 4. What is the forecast period for the Drilling Waste Management Market? Ans. The forecast period for the Drilling Waste Management Market is 2022-2029. 5. What was the market size of the Drilling Waste Management Market in 2021? Ans. The market size of the Drilling Waste Management Market in 2021 was valued at USD 5.38 Bn.
1. Global Drilling Waste Management Market: Research Methodology 2. Global Drilling Waste Management Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Drilling Waste Management Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Drilling Waste Management Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Drilling Waste Management Market Segmentation 4.1 Global Drilling Waste Management Market, by Type (2021-2029) • Drying Shake • Cutting Dryer • Decanter Centrifuge • Submersible Slurry Pump • Screw Pump 4.2 Global Drilling Waste Management Market, by Technology (2021-2029) • Treatment & Disposal • Solids Control • Containment & Handling 4.3 Global Drilling Waste Management Market, by Application (2021-2029) • Onshore • Offshore 5. North America Drilling Waste Management Market(2021-2029) 5.1 North America Drilling Waste Management Market, by Type (2021-2029) • Drying Shake • Cutting Dryer • Decanter Centrifuge • Submersible Slurry Pump • Screw Pump 5.2 North America Drilling Waste Management Market, by Technology (2021-2029) • Treatment & Disposal • Solids Control • Containment & Handling 5.3 North America Drilling Waste Management Market, by Application (2021-2029) • Onshore • Offshore 5.4 North America Drilling Waste Management Market, by Country (2021-2029) • United States • Canada • Mexico 6. Europe Drilling Waste Management Market (2021-2029) 6.1. Europe Drilling Waste Management Market, by Type (2021-2029) 6.2. Europe Drilling Waste Management Market, by Technology (2021-2029) 6.3. Europe Drilling Waste Management Market, by Application (2021-2029) 6.4. Europe Drilling Waste Management Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Drilling Waste Management Market (2021-2029) 7.1. Asia Pacific Drilling Waste Management Market, by Type (2021-2029) 7.2. Asia Pacific Drilling Waste Management Market, by Technology (2021-2029) 7.3. Asia Pacific Drilling Waste Management Market, by Application (2021-2029) 7.4. Asia Pacific Drilling Waste Management Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Drilling Waste Management Market (2021-2029) 8.1 Middle East and Africa Drilling Waste Management Market, by Type (2021-2029) 8.2. Middle East and Africa Drilling Waste Management Market, by Technology (2021-2029) 8.3. Middle East and Africa Drilling Waste Management Market, by Application (2021-2029) 8.4. Middle East and Africa Drilling Waste Management Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Drilling Waste Management Market (2021-2029) 9.1. South America Drilling Waste Management Market, by Type (2021-2029) 9.2. South America Drilling Waste Management Market, by Technology (2021-2029) 9.3. South America Drilling Waste Management Market, by Application (2021-2029) 9.4. South America Drilling Waste Management Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Baker Hughes 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Halliburton 10.3 Schlumberger 10.4 Weatherford 10.5 National Oilwell Varco 10.6 Scomi 10.7 Hebei Gn 10.8 Derrick Corporation 10.9 Augean PLC 10.10 Ridgeline Canada 10.11 Others

About This Report

Report ID 50403
Category Energy & Power
Published Date Sept 2022
Updated Date
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