Global Managed Pressure Drilling (MPD) Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Managed Pressure Drilling (MPD) Services Market Overview
“The global Managed Pressure Drilling (MPD) Services market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global managed pressure drilling services market report has been segmented on the basis of technology, application, and region.
Managed pressure drilling (MPD) is a drilling process used to control the annular pressure profile throughout the wellbore. The primary objectives of MPD are to ascertain the downhole pressure environment limits and to manage the annular hydraulic pressure profile accordingly.
The use of MPD at the wellbore provides many benefits such as reduced potential damage to the reservoir, improving the rate of penetration (ROP), detecting loss situations early, and reducing the number of casing strings.
MPD includes a continuous circulating system, non-return valves, downhole deployment valves, surface phase separation, ECD reduction tools, nitrogen generation, pressure monitoring, and hydraulic flow modeling for drilling.
Growing energy consumption and increasing demand for the same coupled with rising onshore and offshore drilling activities are key factors driving the growth of the global managed pressure drilling services market.
In addition, increasing oil & gas exploration and production (E&P) activities and growing shale gas projects across the globe are other factors expected to fuel the growth of the global managed pressure drilling market over the forecast period.
Growing sub-sea construction activities is a major factor expected to create high revenue potential opportunities for existing as well as new players in the global market over the forecast period.
However, high costs associated with procurement and use of the product are a major factor restraining the growth of the global managed pressure drilling services market. Additionally, lack of a professional workforce and stringent environmental regulations are other factors expected to hamper the growth of the global managed pressure drilling market over the forecast period.
The market in North America is expected to account for the highest share in terms of revenue and is expected to maintain its dominance over the forecast period. This dominance can be attributed to the increasing number of deep water offshore wells in countries in the region.
The market in the Asia Pacific and Europe is expected to register significant growth in the target market over the forecast period, owing to increasing deep-water production and exploration activities in the region. Moreover, the market in Middle East & Africa is projected to register moderate growth over the forecast period, owing to the presence of untapped hydrocarbon reserves in the region.
Global managed pressure drilling services market segmentation:
- Constant Bottom Hole Pressure (CBHP)
- Return Flow Control Drilling (RFCD)
- Mud Cap Drilling (MCD)
- Dual Gradient Drilling (DGD)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Weatherford International Ltd.
- Halliburton Company
- Baker Hughes Incorporated
- Schlumberger Limited
- National Oilwell Varco, L.P.
- Aker Solutions
- Ensign Energy Services Inc.
- STRATA Energy Services Inc.
- Blade Energy Partners, Ltd.
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