Market Size of Asia-Pacific Drilling Waste Management Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Drilling Waste Management Services Market Analysis
The Asia-Pacific drilling waste management services market is expected to grow at a CAGR of more than 2% throughout 2020-2025. Factors such as upstream activities, particularly exploration and drilling activities, which continue to expand across the Asia-Pacific, are set to increase the demand for oilfield services in the region. The upcoming drilling activities across the region are likely to augment the drilling waste management services market in the coming years. Increasing government regulations, such as reducing pollution because of the release of harmful gases and landfills during drilling activities, are expected to drive the drilling waste management services market during the forecast period. However, the lack of skilled labor and high initial investments are some of the factors restraining the market from growth.
- Crude Growing drilling activity, particularly offshore drilling activity, is expected to drive the drilling waste management services market during the forecast period. Also, the offshore drilling waste management is highly capital intensive, as compared to that of onshore services.
- Increase in the exploration and production (E&P) activities in deep-water and ultra-deepwater reservoirs is expected to increase the number of wells drilled, and drive the demand for the oilfield services, thereby creating the opportunity for the Asia-Pacific drilling waste management services market.
- China is expected to lead the drilling waste management services market during the forecast period owing to extensive and widespread exploration and production activities in the region, especially in the South China sea.
