{"id":504392,"date":"2020-08-26T19:32:01","date_gmt":"2020-08-26T19:32:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=504392"},"modified":"2020-08-26T19:32:01","modified_gmt":"2020-08-26T19:32:01","slug":"measurement-while-drilling-market-worth-218-billion-by-2027-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/measurement-while-drilling-market-worth-218-billion-by-2027-grand-view-research-inc_504392.html","title":{"rendered":"Measurement While Drilling Market Worth $21.8 Billion By 2027: Grand View Research, Inc."},"content":{"rendered":"
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
The global measurement while drilling market size was valued over USD 11.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2020 to 2027.<\/div>\n

The global measurement while drilling market<\/a><\/strong> size is expected to reach USD 21.8 billion by 2027, expanding at a CAGR of 7.8%, according to a new report by Grand View Research, Inc. The increasing number of exploration and production projects along with the growing need for well testing operations requiring the use of technologically advanced drilling techniques that provide real-time downhole data transmission will drive the market.<\/p>\n

Recovery in oil prices has motivated oil producers to drill unconventional wells and to explore untapped oil fields to fulfill the increase in oil demand. Measurement while drilling tools transmit real-time formation evaluation measurements to the surface enabling the operators to achieve accurate well placement through efficient drill bit steering, thereby provides a potential growth landscape for the market.<\/p>\n

\"U.S.<\/strong><\/p>\n

Request a sample Copy of the Global Measurement While Drilling Market Research Report @ <\/strong>https:\/\/www.grandviewresearch.com\/industry-analysis\/measurement-while-drilling-market\/request\/rs1<\/strong><\/a><\/p>\n

Rising investments toward technological advancements with an aim to enhance drilling efficiencies is likely to stimulate market growth. Recent technological innovations such as the development of GyroSphere MEMS gyro-while-drilling service by Schlumberger, which provides more accurate access to smaller reservoir targets while reducing drilling risks, are projected to propel industry growth.<\/p>\n

Stringent environmental regulations, geopolitical tensions, changes in trade policy, disruptive forces, and currency movements are some of the key forces impacting the oil and gas exploration activities and in turn, can limit investments for upgrades or new facilities in the affected areas. These factors are expected to eventually affect the market positively during the forecast period.<\/p>\n

Key suggestions from the report:<\/strong><\/p>\n