Report : Europe Horizontal Directional Drilling Market Forecast to 2030 - Regional Analysis - by End Use (Telecommunications, Oil & Gas, Sewer & Water, Environmental Wells, and Utility), Rig Size [Small (Less than 40,000 lbs.), Medium (40,000-100,000 lbs), and Large (More than 100,000 lbs.)], and Application (Onshore and Offshore)
At 10.5% CAGR, Europe Horizontal Directional Drilling Market is Projected to be Worth US$ 1,247.49 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Europe horizontal directional drilling market was valued at US$ 561.83 million in 2022 and is expected to reach US$ 1,247.49 million by 2030, registering a CAGR of 10.5% from 2022 to 2030. Increasing application of horizontal directional drilling equipment in sewer & water and oil & gas sectors and rising infrastructure development in telecommunications and mineral exploration sectors are among the critical factors attributed to drive the Europe horizontal directional drilling market growth.
The volume of sewage is rising with population growth. The majority of wastewater is generated by households and industries. Every year, ~380 billion m3 (cubic meters) of municipal wastewater is produced globally. As a result, the demand for proper infrastructure development in the sewer & water sector is increasing due to the growing population and rising urbanization. Governments of several countries are focusing on installing proper wastewater and sewage treatment facilities to protect the environment from pollution. For instance, in March 2023, the government of North Macedonia and the European Investment Bank have agreed to an approximately US$ 75 million (€ 70 million) EU investment grant for the construction of a wastewater treatment plant in Skopje. This environmental initiative, which is a component of the Western Balkans Green Agenda and the Economic and Investment Plan of the European Commission, will improve living conditions for almost 500,000 people. The growing emphasis on proper sewer and water infrastructure is boosting drilling activities, which is increasing the application of horizontal directional drilling equipment worldwide.
Moreover, there is a surge in energy demand due to the growing global population. According to Exxon Mobil Corporation's report, the global energy demand is expected to reach 660 quadrillion Btu in 2050, up around 15% from 2021 due to population growth and increased affluence. Natural gas has the potential application in electricity generation, which boosts its demand in various industries. Furthermore, due to the increasing energy uncertainties in Europe owing to the Russia-Ukraine war, governments of several countries are boosting the application of natural gas. As a result, oil & gas exploration activities are growing across the globe. For instance, in 2024, governments of France and Germany announced their plans to initiate the 100 km hydrogen pipeline project. GRTGaz, a prime gas supplier in France, is set to authorize the installation of a hydrogen pipeline linking France and Germany, marking a substantial step toward decarbonizing heavy industries in both countries. In addition, in 2023, governments of Germany and Italy joined forces to form a projected gas pipeline. The proposed pipeline is a 3,300 km project and is anticipated to incorporate four European transmission system operators, including Trans Austria Gasleitung, Snam, Bayernets, and Gas Connect Austria in Germany.
Furthermore, the growing offshore drilling activities for crude oil & gas exploration are boosting the demand for horizontal directional drilling equipment. For instance, in October 2022, the Italian government announced plans to double its gas production from the current gas production capacity. This plan also includes the construction of new offshore gas rigs across the country, which is expected to drive the market for offshore oil & gas pipes, fittings, and flanges market across Italy. Thus, an increase in offshore oil & gas exploration activities bolsters the expansion of gas pipeline infrastructure, which is propelling the application of horizontal directional drilling equipment. Thus, the rising infrastructure development in the sewer & water and oil & gas sectors drives the horizontal directional drilling market.
On the contrary, the declining oil & gas exploration activities hampers the growth of Europe horizontal directional drilling market.
Based on end use, the Europe horizontal directional drilling market is segmented telecommunications, oil & gas, sewer & water, environmental wells, and utility. The oil & gas segment held 41.8% market share in 2022, amassing US$ 235.01 million. It is projected to garner US$ 513.44 million by 2030 to register 10.3% CAGR during 2022-2030.
By rig size, the Europe horizontal directional drilling market is segmented into small (below 40,000 Lbs), medium (40,000 - 100,000 Lbs), and large (above 100,000 Lbs). The large (above 100,000 Lbs) segment held 47.9% share of Europe horizontal directional drilling market in 2022, amassing US$ 269.19 million. It is anticipated to garner US$ 568.83 million by 2030 to expand at 9.8% CAGR during 2022-2030.
Based on application, the Europe horizontal directional drilling market is bifurcated into onshore and offshore. The onshore segment held 68.1% share of Europe horizontal directional drilling market in 2022, amassing US$ 382.70 million. It is projected to garner US$ 825.38 million by 2030 to expand at 10.1% CAGR from 2022 to 2030.
By country, the Europe horizontal directional drilling market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 27.0% share of Europe horizontal directional drilling market in 2022. It was assessed at US$ 151.55 million in 2022 and is likely to hit US$ 325.60 million by 2030, registering a CAGR of 10.0% during 2022-2030.
Key players operating in the Europe horizontal directional drilling market are American Augers Inc, Drillto Trenchless Co Ltd, Epiroc AB, Herrenknecht AG, Laney Directional Drilling Co, Nabors Industries Ltd, Prime Drilling GmbH, Tracto-Technik GmbH & Co KG, and Vermeer Corp, among others.
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