Dallas, Texas (PRWEB) May 10, 2014
Over the years, there has been a tremendous increase in technological advancements that has led to the reduction of waste generated from drilling. These technological advancements include cuttings slurrification and re-injection, de-watering, water treatment, vacuum collection, and cuttings drying. Also, market vendors are increasing their investments in R&D, which in turn is reducing the time in waste collection, treatment, and disposal. Therefore, rapid technological advancements are expected to propel the growth of the Global Drilling Waste Management market during the forecast period.
Analysts forecast the Global Drilling Waste Management market will grow at a CAGR of 13.7 percent over the period 2013-2018. According to the report, the growth of the Global Drilling Waste Management market is driven by several factors, including increasing concerns over the environment. An increase in drilling activities worldwide has raised environmental concerns; therefore, there is a rise in the adoption of various waste management services. This is expected to propel the growth of the market during the forecast period.
The Global Drilling Waste Management market can be segmented into three service types: Solid Control Services; Containment and Handling; and Treatment, Recycling, Recovery, and Disposal.
Global Drilling Waste Management Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas and the EMEA and APAC regions; it also covers the Global Drilling Waste Management market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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Further, the report states that drilling waste management requires high investments for the purchase of facilities and heavy equipment, which increases the overall cost of the drilling waste project. This could have a negative impact on the market growth rate during the forecast period.
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