SAN FRANCISCO, October 26, 2015 /PRNewswire/ --
The global horizontal directional drilling market size is expected to reach USD 14.95 billion by 2022, growing at a CAGR of over 14% from 2015 to 2022, according to a new report by Grand View Research, Inc.
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Horizontal Directional Drilling (HDD), which is a trenchless technique used for the installation of underground cables, pipes, and conduits along a pre-determined path by using a surface-launched drilling rig, has gained immense prominence on account of negligible damage caused to the topography of the surrounding area.
The growth prospects for this market are bullish due to high demand originating from the telecommunications sector. Telecom companies have started taking measures in order to make 4G and 5G services available to all, which has consequently increased the demand for installation of cellular towers. Demand from utilities (electricity distribution, natural gas distribution) is expected to remain steady throughout the forecast period, thereby ensuring uniform growth of the HDD market.
Browse full research report with TOC on "Horizontal Directional Drilling (HDD) Market Analysis By End-use (Utilities, Telecommunication), And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/horizontal-directional-drilling-hdd-market
Substantial HDD projects as a result of unqualified engineers and consultants without any prior HDD project design experience hired by owners and lack of contractor review for constructability prior to project inception are some of the challenges faced by the HDD industry.
Further key findings from the report suggest:
Grand View Research has segmented the global horizontal directional drilling market on the basis of end-use and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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