At 11.5% CAGR, North America Horizontal Directional Drilling Market is Projected to be Worth US$ 2,152.14 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America horizontal directional drilling market was valued at US$ 902.96 million in 2022 and is expected to reach US$ 2,152.14 million by 2030, registering a CAGR of 11.5% from 2022 to 2030. Development of smart cities and increasing application of horizontal directional drilling equipment in sewer & water and oil & gas sectors are among the critical factors attributed to drive the North America horizontal directional drilling market growth.

Installing sewage pipelines, expansion of broadband services in remote or rural areas, and installing electricity transmission lines involve drilling activities, which require horizontal directional drilling equipment. Adequate water supply, proper sanitation, including waste management, assured electricity supply, and efficient urban mobility are a few of the necessities of the smart city. Developing new infrastructures such as universities, schools, housing, and IT data centers requires a high level of drilling activities for the installation of underground pipelines and cables, which is anticipated to boost the application of horizontal directional drilling equipment in the coming years. In 2023, governments of Canada and British Columbia invested US$ 24.3 million in the construction of a water treatment plant. The construction of metro facilities, new airports, or expansion of the railway network is also anticipated to fuel the demand for horizontal directional drilling equipment. In March 2023, the Canadian Kelowna City Council announced approval for the funding of US$ 90 million for the Kelowna Airport terminal expansion project. As of 2023, in the US, six new airports are currently under construction. Thus, the development of smart cities is anticipated to bring new trends in the North America horizontal directional drilling market.

On the contrary, the declining oil & gas exploration activities hampers the growth of North America horizontal directional drilling market.

Based on end use, the North America horizontal directional drilling market is segmented telecommunications, oil & gas, sewer & water, environmental wells, and utility. The oil & gas segment held 43.1% market share in 2022, amassing US$ 389.13 million. It is projected to garner US$ 912.73 million by 2030 to register 11.2% CAGR during 2022-2030.

By rig size, the North America 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 49.0% share of North America horizontal directional drilling market in 2022, amassing US$ 442.42 million. It is anticipated to garner US$ 1,005.81 million by 2030 to expand at 10.8% CAGR during 2022-2030.

Based on application, the North America horizontal directional drilling market is bifurcated into onshore and offshore. The onshore segment held 65.4% share of North America horizontal directional drilling market in 2022, amassing US$ 590.72 million. It is projected to garner US$ 1,360.81 million by 2030 to expand at 11.0% CAGR from 2022 to 2030.

Based on country, the North America horizontal directional drilling market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 73.7% share of North America horizontal directional drilling market in 2022. It was assessed at US$ 665.84 million in 2022 and is likely to hit US$ 1,633.47 million by 2030, registering a CAGR of 11.9% during 2022-2030.

Key players operating in the North America 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, The Charles Machine Works Inc, Tracto-Technik GmbH & Co KG, and Vermeer Corp, among others.


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