Middle east drilling fluid market expected to grow at 5.3% CAGR from 2015 to 2022

Middle East drilling fluid market size was worth USD 1.45 billion in 2014 and is estimated to reach USD 2.19 billion by 2022. Growing exploration activities coupled with increasing number of E&P companies in Oman, UAE, Saudi Arabia and Qatar which are expected to improve the output of conventional oil & gas fields. Rising concern towards maintenance costs in deep water projects, and dipping downhole losses are expected to propel demand in the region over the next seven years.

Rising production of hydrocarbons due to increasing natural gas and crude oil demand in different industrial divisions including transportation and power is expected to propel growth over the forecast period. Drilling fluid market is expected to witness high demand owing to increasing rate of ultra-deep sea and deep sea explorations principally in the Red Sea and the Persian Gulf.

The requirement of high efficiency in order to extract various forms of hydrocarbons and technological advancements in rheology are expected to open new prospects for the industry players. However, geopolitical disturbance coupled with stringent policies concerning usage and disposal of oil-based fluids majorly in the Red Sea and the Persian Gulf regions is expected to hamper exploration activities over the forecast period.

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In 2014, water based fluids contributed to over 46.0% of the overall revenue and emerged as a primary product segment. Rising concern towards biodegradation and toxicity of the products is expected to drive growth in the market over the next seven years.

The synthetic-based mud market is expected to witness high growth over the next seven years owing to properties including the ability to provide thermal stability, maximized rate of penetration, excellent wellbore stability, and lubricity. Cost effectiveness, reduced losses and reduced negative environmental impact of the product is expected to drive demand over the next seven years.

Use of drilling mud including aerated and foam fluids are projected to witness an average growth over the forecast period on account of its ability to remove and clear cutting from holes without any significant fluid loss from fractured rocks.

The Onshore Oil & Gas sector accounted for a significant share of over 70.0% of the overall market in 2014. Increasing need for the product as a lubricant and cooling agent in E&P equipment owing to harsh weather conditions such as extreme temperatures, dry environment, and desert topography is expected to propel demand over the forecast period.

Saudi Arabia emerged as the largest market in Middle East accounting for over 35.0% in 2014. Companies including Saudi Aramco have been investing increasingly in exploration activities owing to growing demand. Low impact of reduced oil prices on production levels of major manufacturers in the region is anticipated to fuel oil & gas market during the forecast period. Iraq and Kuwait are expected to be prospective markets for oil & gas projects.

The increase in working rig counts to meet projects of national interest in countries such as Iran, UAE, and Saudi Arabia are expected to drive demand in the market. Growing concern regarding extreme temperature operating conditions, well blowout and wellbore stability is anticipated to fuel drilling fluid demand from offshore and onshore production sites in the region over the next seven years.

Key companies in the region include Newpark Resources, Baker Hughes, Petrochem Performance Chemicals, Diamoco Group, Schlumberger, Halliburton, Oren Hydrocarbons, Weatherford and Catalyst LLC.

Horizontal Directional Drilling Market Worth $17.6 Billion By 2025

The global horizontal directional drilling market size is estimated to reach USD 17.6 billion by 2025, according to a new report by Grand View Research, Inc., progress at a CAGR of 13.2% during the forecast period. Growing emphasis on adopting environment-friendly trenchless technologies globally is driving the HDD market, as this drilling technique is turning out to be one of the most critical subsurface construction methods for developing, maintaining, and replacing underground infrastructure.

Horizontal directional drilling has proved to be more convenient and environment-friendly as compared to conventional vertical maneuvering method. It is ideal for installing cables, conduits, and pipes for short-distance as well as long-distance projects and even at deeper depths.

Launch of newer generations of cellular networking technology, such as 4G and 5G, has increased the demand for capable transmission systems. As a result, horizontal directional drilling setups are increasingly being deployed for installing new telecommunication transmission lines. Besides this, burgeoning demand for suitably-diffused distribution of electricity and natural gas from high-capacity intrastate and interstate lines and pipelines is also anticipated to propel the global horizontal directional drilling services market.

With the help of HDD rigs and other machines, significant volumes of oil and gas can be extracted from reservoirs, located as deep as 10,000 feet while causing a minimal impact on the environment. Moreover, HDD setup consumes lesser space, thereby making it ideal for situations where projects are located in congested areas and need to be completed in a short span of time.

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Further key findings from the report suggest:

The HDD midi rigs segment is projected to exhibit a CAGR of more than 4.0% during the forecast period
Onshore HDD services business was valued at over USD 3 billion in 2018
By 2025, the telecommunication segment is poised to hold a revenue share of over 25.0% of the global HDD services market
North America accounted for the largest revenue share in the horizontal directional drilling (HDD) market in 2018. It is likely to retain its position through 2025
The key players in the global horizontal directional drilling machines market include Ditch Witch; Vermeer Corporation; Ellingson Companies; and American Augers, Inc.
Some of the major HDD service providers are Nabors Industries Ltd., UEA, Herrenknecht AG, and Laney Directional Drilling.

Camping Furniture Market Worth $275.8 Million By 2025

The global camping furniture market size is expected to reach USD 275.8 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% over the forecast period. Increasing number of millennial campers at the global level is expected to be a key factor driving the industry for camping furniture. In addition, government initiatives have been supporting the growth of the market over the world. For instance, governments of developed economies of North America and Europe are providing inexpensive accommodation and transportation and are investing in infrastructural development in order to promote the camping industry.

In terms of product, chairs and stools dominated the global camping furniture market in 2018, accounting for 51.0% share of the total revenue. These items are considered to be one of the most crucial furniture products for outdoor recreational activities as campers can enjoy nature sitting comfortably outside their tents or RVs. Increased demand for ultra-lightweight and foldable chairs that are convenient for transport has fueled the expansion of this segment.

The online distribution channel is expected to expand at the fastest CAGR of 5.3% from 2019 to 2025 due to its convenience of shopping. E-commerce provides hassle-free and safe delivery with zero shipment cost at times. This feature has been encouraging the consumers to buy camping gear from online stores.

North America held a significant market share in 2018. Hiking and fishing are the most popular recreational activities among the campers of this region. In addition, RV ownership has increased significantly in North America. Asia Pacific is anticipated to witness the fastest growth in the near future. Australia, China, Japan, India, Indonesia, and Thailand, are the prominent markets of this region. Coffs Harbour, Daintree National Park, Blue Mountains, Mount Rinjani, Doi Chiang Dao, Mount Bromo, and Mount Batur are some of the popular campsites of this region.

Key competitors in this industry include Coleman Company, Inc.; ALPS Mountaineering; Oase Outdoors ApS; Johnson Outdoors Inc.; GCI Outdoor; Kamp-Rite; Helinox; Recreational Equipment, Inc.; TREKOLOGY; Tepui Tents; and Camp Time Inc.

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https://www.grandviewresearch.com/industry-analysis/camping-furniture-market

Further key findings from the report suggest:

Asia Pacific is expected to witness the fastest growth in the coming years due to increasing number of outdoor recreational activities in the countries including Australia, Indonesia, and India
In terms of product, tables are projected to expand at the fastest CAGR of 5.4% from 2019 to 2025. Chairs and stools dominated the global camping furniture market as they are one of the most needed furniture for outdoor activities
By distribution channel, the offline segment held the largest share of more than 70.0% in 2018. The online channel is expected to expand at the fastest CAGR of 5.3% from 2019 to 2025.

Portable Mini Fridge Market Worth $1.3 Billion By 2025

The global portable mini fridge market size is expected to reach USD 1.3 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% over the forecast period. Increasing application of portable fridges in outdoor recreational vehicles including RVs, caravans, motorhomes, campervans, and vanity vans is expected to remain a key factor for the market growth. In addition, improvement in the hotel industry at the global level as a result of increasing travel spending by millennials for business and personal trips is expected to promote the scope for portable mini fridges over the next few years.

Enthusiasm for outdoor recreational activities such as camping has grown significantly among working professionals across the globe. These trends are driving the manufacturers of RVs, caravans, and motorhomes to add more luxury to their products so that the customers find them more productive and luxurious during their outing. Customers’ preference is shifting towards more luxury during their outing, which, in turn, will prompt the use of portable mini fridge in the foreseeable future.

Portable mini fridges also find a wide application in hotel rooms and suites, which is expected to opens new avenues for the market. Moreover, the hotel industry is growing at a significant rate across the globe. Major players include Marriott International, InterContinental Hotels Group, and Hilton Worldwide are investing in the expansion of their hotel chain in the untapped markets. For instance, in 2019, Hilton group has planned to inaugurate its new nine hotels around the world including countries such as Algeria, Colombia, Tajikistan, China, and India. Increasing investment in the establishment of new hotels is projected to promote the utility of compact and portable fridge in the foreseeable future.

North America was the largest regional market, accounting for 30.7% share of the total revenue in 2018 owing to increased participation by millennials in outdoor recreational activities in U.S. and Canada. In addition, positive outlook towards the hospitality sector in U.S. on account of increasing number of foreign travelers for vacation and professional trips is expected to promote the scope for the portable mini fridges in the near future.

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Further key findings from the report suggest:

The commercial application segment held the largest share of more than 70.0% in 2018 owing to wide application in the RVs, caravans, motorhomes, campervans, and vanity vans
North America was the largest market, accounting for 30.7% share of the global revenue in 2018 owing to increased number of millennial participants in outdoor recreational activities in U.S.
Online distribution channel is expected to expand at the fastest CAGR of 5.6% from 2019 to 2025 owing to availability of a wide range of products with huge offers and discounts by some of the key e-commerce portals including Alibaba and Amazon
Key players include in the portable mini fridge market are Midea Group; ARB; Danby; DOMETIC GROUP AB (PUBL; Living Direct, Inc.; Engel Australia Pty Ltd.; Haier Inc.; Whirlpool Corporation; Godrej Group; Electrolux AB; and WHYNTER LLC.

Smart Baby Monitor Market Worth $1.7 Billion By 2025

The global smart baby monitor market size is expected to reach USD 1.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.4% over the forecast period. Increasing number of working mothers, along with rising awareness about child safety, is driving the market over the world. The product is capable of enabling the parents to communicate with their children in real-time and track their movements.

The audio and video segment accounted for the largest share of more than 75.0% in 2018. These products not only provide live video of the child but also track activities, nap, and feeding schedule of the baby. Innovative features including temperature sensors, automatic notifications, two-way audio, and in-built lullabies provided by these smart baby monitors have been attracting the consumers.

Wearable movement tracker has gained significant importance among the parents. These trackers provide information about the room temperature, sleep pattern, heart rate, oxygen levels, and temperature of the baby. The manufacturers of infant products have been entering the market by integrating tracking devices in their products. For instance, Kimberly-Clark (Huggies) launched a smart diaper, which is equipped with a sensor that connects to Bluetooth. Huggies partnered with Monit, a South Korean company, for the manufacture of this product.

North America held the largest share of more than 45.0% in 2018. The region is expected to maintain its lead over the next few years owing to high penetration of working parents and increased adoption of innovative technology in U.S. and Canada. In addition, presence of several key manufacturers including Dorel Industries Inc.; iBaby Labs, Inc.; NETGEAR Inc.; Lorex Technology Inc.; and Angelcare Monitor Inc. has boosted the growth of the industry.

Major competitors of this industry include Samsung Electronics Co., Ltd., Motorola, Inc., Dorel Industries Inc., iBaby Labs, Inc., NETGEAR Inc., Summer Infant, Inc., VTech Communications, Inc., Lorex Technology Inc., Angelcare Monitor Inc., and Safety 1st. Over the past few years, manufacturers have been focusing on product development to gain a competitive advantage. For instance, in February 2017, VTech Communications, Inc. introduced two new Wi-Fi compatible high-definition products VM991 and the VM981 Video Monitor. These products have a touchscreen parent unit and connected with a new MyVTech Baby app.

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https://www.grandviewresearch.com/industry-analysis/smart-baby-monitor-market

Further key findings from the report suggest:

In terms of product, the audio and video segment dominated the global market in 2018
By distribution channel, the offline segment led the smart baby monitor market in 2018 and accounted for more than 70.0% share of the overall revenue. The online distribution channel is expected to expand at the fastest CAGR of 8.7% from 2019 to 2025
North America was the largest regional market for smart baby monitor in 2018 owing to presence of a large number of working parents and high purchasing power of the consumers in U.S. and Canada
Asia Pacific is projected to witness the fastest growth in the coming years due to increasing number of working mothers in the developing economies including China and India.

Drilling Waste Management Market Size To Reach $7.13 Billion By 2025

The global drilling waste management market is expected to reach USD 7.13 billion by 2025, according to a new report by Grand View Research, Inc. Growing ecological awareness towards effective treatment and disposal of drilling wastes coupled with strict regulations to enforce the laws will boost the market growth.

Increasing drilling activity for natural gas exploration along with growing construction sites for residential and commercial spaces is predicted to drive the global drilling waste management market over the forecast timeframe. Applications of the market include onshore and offshore drilling wastes. Onshore application segment is the dominant sub-segment of the market, while the offshore application is predicted to witness significant growth by 2025. North America leads the onshore application segment owing to the unprecedented domestic production levels crude oil, largely due to the wide adoption of innovative technologies including hydraulic fracturing and horizontal drilling, signalling the onset of a shale revolution.

The drilling waste management market is also segmented based on services, including treatment & disposal, containment & handling, and solids control. In 2016, Treatment & disposal accounted for 39.2% of the market share, largely owing to onsite burial sites including landfills and pits, land-spreading, land-farming, incineration & thermal treatment, slurry injection and bioremediation. Treatment & disposal services are chiefly dominant in Europe and North America owing to increasingly strict regulations including zero-discharge standards that direct drilling companies to effectively treat and reuse all drilling waste generated, and forbid any dumping, especially in water bodies like rivers or seas.

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http://www.grandviewresearch.com/industry-analysis/drilling-waste-management-market

Further key findings from the report suggest:

The U.S. drilling waste management market will witness growth of 3.79% CAGR over the forecast period. The slowdown in the oil and gas market has deeply impacted the drilling markets in the country, with some estimates suggesting 60% decrease in rig drilling. High break-even costs and longer gestation periods in shale exploration and production have further impacted industry growth.
In 2025, UK drilling waste management market is predicted to be valued at USD 0.39 billion. The country has large scale onshore and offshore drilling activities and is among the first nations in the world to introduce stringent waste management legislation.
China drilling waste management market is expected to grow at 12.09% CAGR. The country is expected to undertake large scale offshore exploration projects to discover natural gas reserves.

Piling Machine Market Size Worth $6.5 Billion By 2025

The global piling machine market size is expected to reach USD 6.5 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to progress at a CAGR of 4.6% over the forecast period. Growing construction industry in countries such as China, India, Saudi Arabia, UAE, Thailand, and Malaysia, coupled with population growth and rapid urbanization is anticipated to drive the growth. Initiatives undertaken by government pertaining to infrastructure development, is expected to promote the foundation activity, thereby fueling the use of piling machines.

Moreover, increasing installation of wind turbines in China, U.S., India, U.K., and France on account of favorable government policies is expected to drive the application of piling machines in installing foundation for wind turbines. Abundance of reserves such as rare earth elements, copper, steel, and aluminum in China is expected to increase mining expenditure in near future and thus increase the application of foundation works in Asia Pacific.

Increasing product usage in commercial structures, residential premises, manufacturing facilities, wind farms, mining bases, solar power plants, drilling platforms, and power transmission plants is expected to fuel the growth over the forecast period. Furthermore, rapid expansion in social infrastructure, transportation, defense infrastructure, government accommodation, transport, energy, and water is projected to create immense growth opportunities for the piling machine market over the forecast period.

Rotary boring method is likely to gain traction in future on account of its excellent boring capabilities in highly challenging soil conditions. Air-lift RCD is expected to witness favorable growth on account of better penetration performance as compared to rotary and impact boring. Piling rigs is expected to be the fastest growing product segment owing to increasing application. However, products like vibratory drivers can witness a negative growth owing to rising concerns over adverse effects of piling operations on marine life in underwater operations.

The governments of countries such as U.S., U.K., Germany, Australia, and New Zealand have set restrictions on the noise produced by underwater operations to safeguard marine life. Noise restrictions in the construction work at residential areas, coupled with stringent emission regulatory norms in Europe and North America, are expected to foresee increasing expenditure by companies to purchase new generation piling machines with lower noise and vibration levels.

Growing construction sector mainly in U.S. and Mexico is expected to drive the demand in North America. Moreover, government regulations restricting the maximum limits of sound exposure has in turn, increased the demand for low noise machines, which is expected to favorably impact the market growth.

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https://www.grandviewresearch.com/industry-analysis/piling-machines-market

Further key findings from the study suggest:

On the basis of product, vibratory drivers held 20.3% market share in terms of revenue in 2018 and is expected to witness steady growth owing to excellent penetration speed of the product. Application of piling rigs is expected to increase over the forecast period owing to their high flexibility
Rotary boring method is expected to expand at a CAGR of 3.9% from 2019 to 2025 owing to its growing application in foundation work and fast boring speed. Air-lift RCD was valued at USD 259.4 million in 2018 and is projected to grow substantially due to its increasing application in foundation for construction
Asia Pacific was valued at USD 2.0 billion in 2018 and is expected to grow on account favorable government policies to expand infrastructure in India and China. MEA is anticipated to expand at a CAGR of 4.7% from 2019 to 2025 owing to favorable government policies for the development of infrastructure and tourism
Few of the key participants in the piling machine market are Casagrande S.p.A, Bauer AG, Atlas Copco, Sinomach, Tescar, Delmag, FAE, and BSP International Foundations.

Wood & Laminate Flooring Market Size Worth $90.46 Billion By 2025

The global wood and laminate flooring market size is expected to reach USD 90.46 billion by 2025, expanding at a CAGR of 5.3%, according to a new report by Grand View Research Inc. Factors such as the natural look and feel offered by solid wood flooring coupled with the growing need for aesthetic improvements in the construction interiors is likely to augment the growth.

Solid wood flooring is commercially available in various wood species, patterns, and designs, thus is gaining traction in high-end construction applications. Engineered wood flooring is composed of multiple wood layers and can provide look and feel similar to solid wood floors. Durability, high-gloss and colored and textured finishes of laminate floors are some of the properties expected to drive the growth.

Improved acoustics, combined with ease of refinishing over a period of time are the major contributing factors for the growing demand for solid wood floorings. The pricing structure varies according to the wood species used. However, high cost associated with solid wood flooring is anticipated to divert the consumer base toward laminated variant.

The market is characterized by several multinational and a large number of domestic players engaged in the production and distribution of wood flooring. Prominent market players focus on providing installation and maintenance services to the customers to sustain in the highly competitive industry.

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https://www.grandviewresearch.com/industry-analysis/wood-and-laminate-flooring-market

Further key findings from the report suggest:

Wood flooring segment is expected to expand at the fastest CAGR of 5.5% over the forecast period owing to the product properties that result in the superior aesthetics in residential and commercial building interiors
Residential flooring application for wood and laminate flooring dominated the market with a share of 70.11% in 2018 and is anticipated to witness a considerable CAGR owing to increasing construction of single-family and multi-family structures
The revenue for laminate flooring in North America stood at USD 3.48 billion in 2018 and is likely to register notable growth over the forecast period on account of growing trend of using wood-like flooring available at lower cost
Europe accounted for the a revenue share of 40.3% in 2018 owing to the abundant availability of varied wood species and a wide acceptance of the products to prevent cold temperature
In November 2017, Mohawk Industries, Inc. acquired Godfrey Hirst Group. This acquisition enhanced Mohawk’s products reach and geographical presence, especially in Australia and New Zealand

Diabetic Footwear Market Worth $9.65 Billion By 2025

The global diabetic footwear market size is expected to reach USD 9.65 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.6% during the forecast period. Rising importance of specialty footwear which improves the lower body posture and protect the feet from fungal infection is expected to remain a favorable factor. Furthermore, rising concerns over adverse effects associated with obesity are expected to promote the use of diabetic footwear as a preventive measure.

Shoes are expected to generate revenue of USD 3.31 billion by 2025. The segment is expected to lead the market in light of its increased utility among office-going population. Furthermore, fluctuating diet patterns and hectic lifestyle among middle class population in emerging economies including China and India is expected to encourage consumers to use diabetic shoes as a regular footwear option.

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https://www.grandviewresearch.com/industry-analysis/diabetic-footwear-market

Further key findings from the report suggest:

Sandals is expected to witness a CAGR of 7.3% from 2019 to 2025, owing to increased usage of these products as casual footwear by people in the age group of 45+ in developed economies including Germany and U.K.
Slippers generated revenue of USD 1.99 billion in 2018. The segment is expected to hold more than 30% of global market share on account of predominant usage as daily home footwear among health conscious consumers
Online segment is expected to remain the most lucrative distribution channel over the next eight years. These channels are expected to remain a preferred choice on account of various value-added benefits including cash benefits and free-home delivery by the footwear companies and e-commerce portals
Europe is expected to remain one of the largest markets, accounting for more than USD 1.93 billion by 2025. The region is expected to lead on account of increasing health consciousness of consumers from prominent markets such as Germany, U.K., France, and Italy
The diabetic footwear market is highly competitive in nature with the main players including DJO Global Inc.; Drew Shoes; I-Runner; and Dr. Zen Products, Inc. Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to cater to the existing and future demand from new application segments.