17:30 | 21.10.2019
Directional Drilling Market Procurement Intelligence Report | Directional Drilling Price Trends, Directional Drilling Supplier Selection Criteria and Regional Spend Segmentation Insights Now Available From SpendEdge
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Directional Drilling Market – Procurement Intelligence Report.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191021005390/en/Global Directional Drilling Market Procurement Intelligence Report. (Graphic: Business Wire)
The directional drilling price trends will be majorly impacted by the growing stringency in the regulatory framework in this market. Lack of adaptability of the procurement strategies to such dynamic regulations is posing as a critical challenge in the directional drilling market. In terms of spend growth, the directional drilling market is expected to touch a value of more than USD 2 billion owing to the rise in the oil and gas E&P projects following the recovery of the oil and gas prices. This will create substantial requirements for directional drilling services during the forecast period.
Insights offered into the regional spend segmentation for this market hints at North America to be the dominant region in this market owing to the presence of major players in shale E&P in the oil and gas industry.
Download a free sample of this directional drilling market procurement intelligence report to know more about the top regions, and access region-specific spend analysis in the directional drilling market.
“Despite predictions of an impressive spend growth, the directional drilling spend analysis offered in this report reveals a substantial increase in the procurement expenditure incurred by buyers in this market,” says SpendEdge procurement expert Tridib Bora.
What does the Directional Drilling Spend Analysis Imply?
Motivated by the gradual recovery of the oil and gas prices, suppliers are expected to increase the costs of their services. With a low level of competition in the supply market, the directional drilling spend analysis states that this factor will increase the procurement expenditure to be incurred by buyers in the directional drilling industry.
An increase in expenses on training and retaining skilled employees are adding to supplier’s employee expenditure. According to the directional drilling spend analysis offered in this procurement intelligence report, such an increasing employee expenditure will exert an inflationary impact on the procurement expenditure in the directional drilling industry.
Insights into Directional Drilling Supplier Selection Criteria to Optimize Procurement Spend
The adoption of a global sourcing model, along with a centralized purchasing strategy, can help buyers to achieve efficient management of contracts as well as save costs as it eliminates the need to manage multiple contracts with suppliers.
Cost-benefit analysis of various market growth-promoting factors forms the podium of every procurement strategy. Stay a step ahead by requesting complimentary access to our procurement platform.
Buyers must determine their directional drilling demands across their operating regions before engaging with a supplier. This will enable them to maintain a limited number of suppliers for their entire drilling operations, which will consequently facilitate supply base rationalization and provide cost-saving opportunities.
Request for information to get real-time insights into cost drivers that are impacting the supplier cost structure in today’s markets. You may also like:Global Propane Market – Procurement Intelligence ReportGlobal Industrial Gases Market – Procurement Intelligence ReportAbout SpendEdge: SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal
View source version on businesswire.com: https://www.businesswire.com/news/home/20191021005390/en/