COVID-19 Impact on Oil and Gas Magnetic Ranging Market

  • The COVID-19 outbreak has hindered the demand for oil and gas magnetic ranging process. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in a slowdown and even a halt in key service, thus hampering the demand for oil and gas magnetic ranging services.
  • Key players operating in the oil and gas magnetic ranging market are well known service provider and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of these services. It also adversely impacted the oil & gas industry.
  • The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in the supply of raw materials is projected to hamper the full-scale operations of companies operating in the market.

Key Drivers of Oil and Gas Magnetic Ranging Market

  • High oil prices across the globe are expected to boost the market during the forecast period. There has been a rise in the need for oil and gas magnetic ranging with the increase in demand for higher efficiency and productivity of the oil extraction process.
  • Expansion of the oil & gas industry has increased the demand for energy across the world. Over the years, oil and gas has been widely utilized in transportation, manufacturing goods, power generation, and other end-use industries. Rise in need for unconventional fuel such as tight gas and shale gas due to the growing globalization, urbanization, and economic developments is anticipated to boost the oil and gas magnetic ranging market.
  • Depletion of oil is compelling the oil and gas industry to shift toward other options such as heavy oil and bitumen. The production of heavy hydrocarbons requires assisted drainage. This is also driving the need for magnetic ranging.

North America to Constitute Significant Share of Global Oil and Gas Magnetic Ranging Market

  • In terms of region, the global oil and gas magnetic ranging market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific accounts for major share of heavy oil production. With upcoming deep-water projects, horizontal drilling, and increase in number of coalbed methane (CBM) projects, the oil and gas magnetic ranging market in the region is expected to expand significantly in the near future.
  • North America, with its vast reserves of recoverable shale gas and tight oil reserves in the world, dominates the oil and gas magnetic ranging market. This trend is expected to continue during the forecast period.

Competitive Landscape of Global Oil and Gas Magnetic Ranging Market

  • The oil and gas magnetic ranging market is moderately fragmented with the presence of large numbers of players operating at local, regional, and international levels
  • The usage of magnetic ranging is likely to increase, with rise in horizontal drilling, directional drilling, and injector wells. This is likely to create significant opportunities in the market.
  • Key players in the market are implementing numerous strategies to consolidate their position. Focus on new technology and maintenance contracts is one of the preferred strategies adopted by companies operating in the market.

Key Players Operating in Global Oil and Gas Magnetic Ranging Market

  • Schlumberger
  • Halliburton
  • Bartington Instruments Limited.
  • Baker Hughes
  • Scientific Drilling International
  • Vector Magnetics LLC
  • GMW Associates.
  • Weatherford International
  • Big Guns Energy Services Inc.
  • Transocean Ltd

Global Oil and Gas Magnetic Ranging Market, by Technology

  • Rotating Magnet Ranging (RMR)
  • Active Magnetic Ranging (AMR)
  • Passive Magnetic Ranging (PMR)

Global Oil and Gas Magnetic Ranging Market, by Application

  • Onshore
  • Offshore

Global Oil and Gas Magnetic Ranging Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Arabic
    • South Africa
    • Rest of Middle East & Africa

Oil and Gas Magnetic Ranging Market: Introduction

  • Magnetic ranging is used to determine the relative position of one well with respect to another using magnetic measurements. Magnetic ranging is used for several oil field applications including positioning of blow-out relief wells, steam-assisted gravity drainage, heavy oil applications, and planned intersection of one well with another.
  • The magnetic ranging system controls the downhole drilling process. It uses a combination of magnetic sources and magnetic sensors to position boreholes accurately and comprises of drilling tool. The drilling tool has a tool axis and magnetic field source in the form of an electromagnet which generates a magnetic field which is substantially parallel to the tool axis.

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Oil And Gas Magnetic Ranging Market