Global geosteering market was valued at US$ 7,776.4 Mn in 2018, increasing from US$ 7,218.7 Mn in 2017. By 2027, the market is projected to reach US$ 17,071.2 Mn, exhibiting a CAGR of 9.2% over the forecast period (2019–2027). Among tools, rotary steerable systems segment accounted for the largest market share in 2017 and is expected to retain its dominance throughout the forecast period. Rotating steerable systems are available in the market at high cost and owning the system increases initial cost and maintenance cost.
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