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PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339070
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1339070
Cable Tool Drilling Market Share, Size, Trends, Industry Analysis Report, By Application (Tunnels, Oil Wells, Water Wells, and Mining Operation); By End-User; By Region; Segment Forecast, 2023 - 2032
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The global cable tool drilling market size is expected to reach USD 4,723.95 million by 2032, according to a new study by Polaris Market Research. The report "Cable Tool Drilling Market Share, Size, Trends, Industry Analysis Report, By Application (Tunnels, Oil Wells, Water Wells, and Mining Operation); By End-User; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing need and prevalence for water well globally and the increasing use of water well for irrigation purposes, coupled with the rising preference for underground water over surface water and the rapid rate of industrialization, are major prominent factors fueling the demand and growth of the market. The rapid development of infrastructure, such as pipelines and refineries, has increased the demand for oil and gas drilling activities, and the growing emphasis on environmentally friendly drilling techniques and methods has been positively influencing the product demand globally. For instance, in October 2022, Epiroc introduced a new deep-hole drill rig specially designed for its large-sized drifts called "Simba E70 S", offering innovative automation features and better drilling quality. The new product delivers greater value to their customers through improved productivity.
In recent years, digital technologies such as sensors, data analytics, and artificial intelligence have been increasingly used to optimize drilling operations, reduce downtime, and increase efficiency. Apart from this, the drilling industry is experiencing a significant shift towards automation, with companies heavily looking to automate their wide range of business operations, which further helps them to reduce the environmental impact of drilling activities.
Moreover, the emergence of measurement-while-drilling (MWD) technology and its growing availability across numerous regions allow operators to receive real-time information regarding drilling status and steer the well in other directions. It further helps operators drill more efficiently even in danger or in several climatic conditions, preventing blowouts and tool failures.
The exponential growth towards implementing new cable and bit materials that are more durable and resistant to wear and tear and the use of advanced monitoring systems to track drilling performance and identify potential issues has pushed the market growth forward worldwide.
Cable Tool Drilling Market Report Highlights
Mining operation segment accounted for largest market share in 2022, which is mainly driven by growing focus of major companies on developing new mineral deposits
Oil & gas segment held the maximum market revenue share in 2022, on account of rising investments towards the growth in exploration activities and its widespread adoption in drilling of hard rock formulations
North America region dominated the global market with largest share in 2022, owing to rising R&D activities and availability of highly developed drilling techniques to perform mining operations in the region
The global key market players include: Tempa Well Drilling, Johnson Water Well Drilling, Weatherford International, Craig Waterwell & Drilling Limited, and Barco Well Service
Polaris Market Research has segmented the cable tool drilling market report based on application, end-user, and region:
Cable Tool Drilling, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Tunnels
- Oil Wells
- Water Wells
- Mining Operation
Cable Tool Drilling, End-User Outlook (Revenue - USD Million, 2019 - 2032)
- Oil & Gas
- Mining
- Others
Cable Tool Drilling, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Product Code: PM3450
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Cable Tool Drilling Market Insights
- 4.1. Cable Tool Drilling Market - Industry Snapshot
- 4.2. Cable Tool Drilling Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Growing advancements in cable tool drilling technology
- 4.2.1.2. Rise in the number of exploration projects and mining operations
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High cost associated with the maintenance and installation
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Cable Tool Drilling Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Cable Tool Drilling Market, by Application
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Cable Tool Drilling, by Application, 2019-2032 (USD Million)
- 5.3. Tunnels
- 5.3.1. Global Cable Tool Drilling Market, by Tunnels, by Region, 2019-2032 (USD Million)
- 5.4. Oil Wells
- 5.4.1. Global Cable Tool Drilling Market, by Oil Wells, by Region, 2019-2032 (USD Million)
- 5.5. Water Wells
- 5.5.1. Global Cable Tool Drilling Market, by Water Wells, by Region, 2019-2032 (USD Million)
- 5.6. Mining Operation
- 5.6.1. Global Cable Tool Drilling Market, by Mining Operation, by Region, 2019-2032 (USD Million)
6. Global Cable Tool Drilling Market, by End-User
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 6.3. Oil & Gas
- 6.3.1. Global Cable Tool Drilling Market, by Oil & Gas, by Region, 2019-2032 (USD Million)
- 6.4. Mining
- 6.4.1. Global Cable Tool Drilling Market, by Mining, by Region, 2019-2032 (USD Million)
- 6.5. Others
- 6.5.1. Global Cable Tool Drilling Market, by Others, by Region, 2019-2032 (USD Million)
7. Global Cable Tool Drilling Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Cable Tool Drilling Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3. Cable Tool Drilling Market - North America
- 7.3.1. North America: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.3.2. North America: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.3.3. Cable Tool Drilling Market - U.S.
- 7.3.3.1. U.S.: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.3.3.2. U.S.: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.3.4. Cable Tool Drilling Market - Canada
- 7.3.4.1. Canada: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.3.4.2. Canada: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4. Cable Tool Drilling Market - Europe
- 7.4.1. Europe: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.2. Europe: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.3. Cable Tool Drilling Market - UK
- 7.4.3.1. UK: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.3.2. UK: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.4. Cable Tool Drilling Market - France
- 7.4.4.1. France: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.4.2. France: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.5. Cable Tool Drilling Market - Germany
- 7.4.5.1. Germany: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.5.2. Germany: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.6. Cable Tool Drilling Market - Italy
- 7.4.6.1. Italy: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.6.2. Italy: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.7. Cable Tool Drilling Market - Spain
- 7.4.7.1. Spain: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.7.2. Spain: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.8. Cable Tool Drilling Market - Netherlands
- 7.4.8.1. Netherlands: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.8.2. Netherlands: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.4.9. Cable Tool Drilling Market - Russia
- 7.4.9.1. Russia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.4.9.2. Russia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5. Cable Tool Drilling Market - Asia Pacific
- 7.5.1. Asia Pacific: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.2. Asia Pacific: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5.3. Cable Tool Drilling Market - China
- 7.5.3.1. China: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.3.2. China: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5.4. Cable Tool Drilling Market - India
- 7.5.4.1. India: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.4.2. India: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5.5. Cable Tool Drilling Market - Malaysia
- 7.5.5.1. Malaysia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.5.2. Malaysia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5.6. Cable Tool Drilling Market - Japan
- 7.5.6.1. Japan: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.6.2. Japan: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5.7. Cable Tool Drilling Market - Indonesia
- 7.5.7.1. Indonesia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.7.2. Indonesia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.5.8. Cable Tool Drilling Market - South Korea
- 7.5.8.1. South Korea: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.5.8.2. South Korea: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.6. Cable Tool Drilling Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.6.2. Middle East & Africa: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.6.3. Cable Tool Drilling Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.6.3.2. Saudi Arabia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.6.4. Cable Tool Drilling Market - UAE
- 7.6.4.1. UAE: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.6.4.2. UAE: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.6.5. Cable Tool Drilling Market - Israel
- 7.6.5.1. Israel: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.6.5.2. Israel: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.6.6. Cable Tool Drilling Market - South Africa
- 7.6.6.1. South Africa: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.6.6.2. South Africa: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.7. Cable Tool Drilling Market - Latin America
- 7.7.1. Latin America: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.7.2. Latin America: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.7.3. Cable Tool Drilling Market - Mexico
- 7.7.3.1. Mexico: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.7.3.2. Mexico: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.7.4. Cable Tool Drilling Market - Brazil
- 7.7.4.1. Brazil: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.7.4.2. Brazil: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- 7.7.5. Cable Tool Drilling Market - Argentina
- 7.7.5.1. Argentina: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- 7.7.5.2. Argentina: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Barco Well Service
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Caster Drilling
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Tempa Well Drilling
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Wenniger Drilling
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Johnson Water Well Drilling
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Loman Drilling
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Halliburton Company
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Schlumberger Limited
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Baker Hughes Company
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Weatherford International
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. NOV Inc
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. XCMG
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Toro Company
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
Product Code: PM3450
List of Tables
- Table 1 Global Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 2 Global Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 3 Cable Tool Drilling Market Assessment, By Geography, 2019-2032 (USD Million)
- Table 4 North America: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 5 North America: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 6 U.S.: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 7 U.S.: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 8 Canada: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 9 Canada: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 10 Europe: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 11 Europe: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 12 UK: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 13 UK: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 14 France: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 15 France: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 16 Germany: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 17 Germany: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 18 Italy: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 19 Italy: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 20 Spain: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 21 Spain: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 22 Netherlands: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 23 Netherlands: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 24 Russia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 25 Russia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 26 Asia Pacific: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 27 Asia Pacific: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 28 China: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 29 China: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 30 India: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 31 India: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 32 Malaysia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 33 Malaysia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 34 Japan: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 35 Japan: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 36 Indonesia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 37 Indonesia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 38 South Korea: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 39 South Korea: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 40 Middle East & Africa: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 41 Middle East & Africa: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 42 Saudi Arabia: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 43 Saudi Arabia: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 44 UAE: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 45 UAE: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 46 Israel: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 47 Israel: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 48 South Africa: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 49 South Africa: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 50 Latin America: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 51 Latin America: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 52 Mexico: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 53 Mexico: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 54 Brazil: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 55 Brazil: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
- Table 56 Argentina: Cable Tool Drilling Market, by End-User, 2019-2032 (USD Million)
- Table 57 Argentina: Cable Tool Drilling Market, by Application, 2019-2032 (USD Million)
List of Figures
- Figure 1 Global Cable Tool Drilling Market, 2019-2032 (USD Million)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by End-User
- Figure 7 Global Cable Tool Drilling Market, by End-User, 2022 & 2032 (USD Million)
- Figure 8 Market by Application
- Figure 9 Global Cable Tool Drilling Market, by Application, 2022 & 2032 (USD Million)
- Figure 10 Cable Tool Drilling Market Assessment, By Geography, 2019-2032 (USD Million)
- Figure 11 Strategic Analysis - Cable Tool Drilling Market
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