The global demand for Managed Pressure Drilling (MPD) Services Market is presumed to reach the valuation of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period of 2020 - 2027.
Managed pressure drilling (MPD) refers to a method for drilling wells with fracture-gradient windows and narrow pore-pressure. MPD makes a closed-loop circulation system where formation fracture pressure, pore pressure, and bottom hole pressure are balanced and managed at the surface. It also acts as a performance-enhancing solution. Due to the depletion of existing wells, search for new locations has strengthened. It is difficult to operate in new locations as they are mostly found in ultra-deep or deep seas. This necessitates the utilization of sophisticated drilling and extracting technologies like managed pressures drilling. MPD efficiently minimizes drilling hazards, which includes lost circulation, fluid loss, differential sticking, kicks, and nuisance gas zones by accurately managing the pressure.
The constant demand for fossil fuel coupled with reduction in the creation of onshore oil & gas reserves is projected to impel the market growth over the forecast period. Also, various countries' governments are encouraging the exploration and production of natural gas. This support will lead to increased adoption of advanced drilling techniques such as managed pressure drilling for the development of exceptional gases in the future. Rising health and environment safety concerns in drilling operations are anticipated to turn the market saturation mainly in countries such as Algeria, Norway, China, Mexico, and the U.S. where new exploration & production projects are either in their initial or development phase.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each segment in the global market of managed pressure drilling (MPD) services.
This section of the managed pressure drilling (MPD) services market report provides detailed data on the segments by analyzing them geographically, thereby assisting the strategist in identifying the target demographics for the respective product or service.
- Constant Bottom Hole Pressure
- Mud Cap Drilling
- Dual Gradient Drilling
- Return Flow Control Drilling
- Rotating Control Device (RCD)
- Non-Return Valves (NRV)
- Choke Manifold Systems
- Land Oil and Gas
This section covers regional segmentation which accentuates on current and future demand for managed pressure drilling (MPD) services market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Managed Pressure Drilling (MPD) Services Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the managed pressure drilling (MPD) services market include GE(Baker Hughes), Halliburton(US), Schlumberger(US), Weatherford International(US), National Oilwell Varco(US), Archer Limited(US), Aker Solutions(Norway), Ensign Energy Services(Canada), Strata Energy Services(Canada), Enhanced Drilling(Norway), Blade Energy Partners(US), Oilfield Services(China), Petrolor Oilfield Services(China), Sinopec Oilfield Service Co(China), Nabors(US). This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.