Drilling Waste Management Market Growth Analysis | 2023-2028

Market Insights

The drilling waste management market was estimated at USD 4.4 billion in 2022 and is likely to grow at a CAGR of 6.09% during 2023-2028 to reach USD 6.29 billion in 2028.

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Market Dynamics

Introduction

Drilling waste management is a process in which the drill cuttings are separated from drilling fluids on the surface by solids equipment and some quantity of unrecoverable drilling fluids. These are the major sources of drilling waste.

Drilling waste management contaminates the drilling fluids for successful drilling operations. It removes solid control equipment that is often reported as drill solids.

Market Drivers

The major factors driving the drilling waste management market are technological developments enhancing the drilling and production capability, which is helping in exploration and production activities in deep-water and ultra-deep-water areas across the globe.

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Key Players

Some of the major players in the market are:

• Augean PLC
• Baker Hughes Incorporated
• Derrick Equipment Company
• Halliburton Company
• Hebei Gn Solids Control Co. Ltd.
• Imdex Limited
• Schlumberger Limited
• Secure Energy Services, Inc.
• Tervita Corporation
• Twma Ltd.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Service Type

Based on the service type, the drilling waste management market is segmented as treatment & disposal, containment & handling, and solids control. The treatment & disposal segment dominates the market owing to onsite burials (pits and landfills), land-farming, land-spreading, bioremediation, thermal treatment, and slurry injection techniques. The segment is estimated to lead the market during the forecast period due to increasingly stringent regulations, such as zero-discharge standards, which mandate treatment and reuse of all waste without being discharged to the environment, specifically into the sea.

By Application Type

Based on the application type, the market is segmented as onshore and offshore. The onshore segment holds a major share of the market, whereas the offshore application segment is estimated to show higher growth during the forecast period. The onshore application is led by North America, particularly the U.S., which has witnessed historic levels of domestic crude oil production, owing to the widespread use of technologies, such as horizontal drilling and hydraulic fracturing that led to the “shale revolution.” Onshore applications have a wider range of management, which includes land, underground injection, thermal treatment, and biological remediation in comparison to the offshore application segment.

Regional Insights

In terms of regions, North America is estimated to lead the market during the forecast period. The region holds over 50% share of the market. The market has been hit the hardest as crude oil prices suddenly plummeted. North America and the Middle East portray an increase in energy demand, which boosts oil & gas production. All these factors are contributing to the growth of the market during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects drilling waste management market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The drilling waste management market is segmented into the following categories:

By Service Type

• Treatment & Control
• Solids Control
• Containment & Handling

By Application Type

• Onshore
• Offshore

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the service types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.