The global measurement while drilling (MWD) market size was US$ 2,021.1 million in 2021. The global measurement while drilling (MWD) market is forecast to grow to US$ 3,711.2 million by 2030 by registering a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030. 

Factors Influencing the Market

The growing range of offshore and onshore operations is primarily driving the growth of the global measurement while drilling (MWD) market. In addition, an increasing number of projects for drilling is expected to boost the growth of the measurement while drilling (MWD) market during the study period. 

Rising demand for technological advancements will also contribute to the growth of the measurement while drilling (MWD) market. Moreover, the demand for efficient advanced tools for extremely high-pressure and high temperature (HPHT) conditions will offer ample growth opportunities to the vendors operating in the market. 

Companies are pouring high investments into the exploration and production activities, which will benefit the measurement while drilling (MWD) market during the forecast period.

Regional Analysis

Based on the regions, North America is forecast to emerge as the largest market for measurement while drilling (MWD) due to the presence of several key industry players, such as Newsco, Baker Hughes, etc. Furthermore, the demand for long-standing expertise in analysing complex formations is expected to drive the market forward.

The Asia-Pacific market for measurement while drilling (MWD) is forecast to record substantial growth due to increasing energy demand and high dependence on coal reserves. Furthermore, growing energy and power activities and the presence of a massive range of metal & mineral reserves will contribute to the growth of the measurement while drilling (MWD). 

COVID-19 Impact Analysis

The wake of the COVID-19 pandemic severely hit economic activities, which also hampered the growth of the measurement while drilling (MWD). Businesses worldwide collapsed due to travel restrictions in various COVID-19-affected countries. Furthermore, several oil and gas companies recorded a sharp fall in crude oil prices, which affected the measurement while drilling (MWD). The market is expected to recover steadily as governments are lifting restrictions to continue focusing on economic growth. In countries like China and India, the measurement while drilling (MWD) is forecast to record substantial recovery due to a strong focus on economic growth. As a result, industry players in measurement while drilling (MWD) will also experience new opportunities in the coming years. 

Competitors in the Market

• COSL - China Oilfield Services Limited
• Newsco
• Gyrodata
• Jindal Drilling & Industries Ltd
• Nabors Industries
• Baker Hughes
• Schlumberger
• Target Well Control
• Cougar Drilling Solutions
• Cathedral Energy Services
• National Oilwell Varco
• Weatherford
• Halliburton
• Other Prominent Players

Market Segmentation

The global measurement while drilling (MWD) segmentation focuses on Type, Application, and Region. 

By Type Outlook 

• Offshore Operations
• Onshore Operations

By Application Type Outlook 

• Commercial Use
• Residential Use
• Other

By Regional Outlook

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America