Market Snapshot, Global managed pressure drilling (MPD) market is projected to exhibit a CAGR of 3.92% during the forecast period (2018-2023). In 2017, world crude oil production rose by approximately 0.6 million barrels, per day. As exiting wells deplete, search for new locations further intensify. However, these new locations are limited and difficult to operate in, many a times, they are found in deep or ultra-deep seas. This necessitates deployment of advanced drilling and extracting technologies such as managed pressures drilling. , Synopsis, This MRFR report offers a holistic assessment of the global manage pressure drilling market along the five-year forecast, which ends at 2023. In the report, all the important market elements are discussed at length. The scope of the discussion covers different types managed pressure drilling technologies such as constant bottom hole pressure, dual gradient drilling, mud cap drilling and return flow control drilling. A revenue analysis based on different MPD tools such as rotating control device (RCD), choke manifold systems and non-return valves (NRV) is also available in the report. Both onshore and offshore application of MPD has been considered for the market assessment., Report Coverage, Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the market, Companies Covered, Air Drilling Associates, Inc., Schlumberger Limited, Weatherford International, Oilserv, Beyond Energy, AFGlobal, Nabors Industries Ltd., Halliburton Inc., Ensign Energy Services, Enhanced Drilling Services, National Oilwell Varco., Research Methodology, MRFR employs cutting-edge algorithms for offering a detailed market breakdown and forecast. Every micro and macroeconomic indicator of the market is studied for drawing an informative insight into the market. The process involves exhaustive primary and secondary research for conducting a detailed study of the market, which encompasses sources such as in Market Snapshot

Global managed pressure drilling (MPD) market is projected to exhibit a CAGR of 3.92% during the forecast period (2018-2023). In 2017, world crude oil production rose by approximately 0.6 million barrels, per day. As exiting wells deplete, search for new locations further intensify. However, these new locations are limited and difficult to operate in, many a times, they are found in deep or ultra-deep seas. This necessitates deployment of advanced drilling and extracting technologies such as managed pressures drilling.

Synopsis

This MRFR report offers a holistic assessment of the global manage pressure drilling market along the five-year forecast, which ends at 2023. In the report, all the important market elements are discussed at length. The scope of the discussion covers different types managed pressure drilling technologies such as constant bottom hole pressure, dual gradient drilling, mud cap drilling and return flow control drilling. A revenue analysis based on different MPD tools such as rotating control device (RCD), choke manifold systems and non-return valves (NRV) is also available in the report. Both onshore and offshore application of MPD has been considered for the market assessment.

Report Coverage

Historical market trends, market dynamics, forecast, market value by region as well as by segmentation, country-level analysis for each market segment, key player’s market share analysis and market factor analysis which covers supply chain and Porter’s five forces analysis of the market

Companies Covered

Air Drilling Associates, Inc., Schlumberger Limited, Weatherford International, Oilserv, Beyond Energy, AFGlobal, Nabors Industries Ltd., Halliburton Inc., Ensign Energy Services, Enhanced Drilling Services, National Oilwell Varco.

Research Methodology

MRFR employs cutting-edge algorithms for offering a detailed market breakdown and forecast. Every micro and macroeconomic indicator of the market is studied for drawing an informative insight into the market. The process involves exhaustive primary and secondary research for conducting a detailed study of the market, which encompasses sources such as interviews with top-level executives, surveys, questionnaires, SEC filings, paid database services, whitepaper references, and published annual reports among others. In addition, the raw data collected is filtered several times for the extraction of validated information. A combination of top-down and bottom-up approaches is employed for affirming the accuracy of the extrapolated data points. Furthermore, a multi-layer verification process authenticates the premium quality of market assessment.

Other Description



Market Denomination- USD Mn



Base Year- 2017



Forecast Period- from 2018 to 2023



For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for managed pressure drilling

By Technology



Constant Bottom Hole Pressure



Mud Cap Drilling



Dual Gradient Drilling



Return Flow Control Drilling



By Tool



Rotating Control Device (RCD)



Non-Return Valves (NRV)



Choke Manifold Systems



By Application



Onshore



Offshore



By Region



North America



Europe



Asia Pacific (APAC)



The Middle East & Africa (MEA)



Latin America



Global managed pressure drilling market is projected to witness 3.92% CAGR during the forecast period (2018-2023) and reach a valuation in excess of USD 4,700 Mn. Managed pressure drilling is commonly used in deep offshore oil and gas wells. It is one of the most safe and efficient system. Oil and gas extraction entails a certain degree of caution given the high volatility of such substances. Managed pressure drilling facilitates simulation programs in a controlled environment, which allows oil and gas companies to draw appropriate conclusions.

Globally, half of the offshore projects are un-drillable due to the technical constraints. Drilling-related problems raise the issue of loss of circulation, stuck pipe, twisting off, kick/loss scenarios, which increase the cost of drilling in various projects. This is where managed pressure drilling (MPD) plays an important role in overcoming many of the aforementioned obstacles. There are several benefits of MPD such as avoid kick loss, improved rate of penetration, drilling with narrow pressure window, accurately managed mud programs, reduced number of casing, early identification of wellbore ballooning, reduced nonproductive time and improved drilling efficiency.

The arrival of advanced MPD is allowing companies to perform exploration and extraction procedures that are extremely critical in nature. With oil and gas companies aiming to become more competitive, adoption of MPD systems is likely to remain strong during the forecast period.

Segmental Analysis

The segmental analysis of the global managed pressure drilling market has been conducted on the basis of technology, application and region.

Based on the technology, the market is segmented into constant bottom hole pressure, mud cap drilling, dual gradient drilling, and return flow control drilling. The constant bottom hole pressure segment is expected to remain highly attractive during the assessment period. In 2017, the segment accounted for 57.53% market share and is set to exhibit a CAGR of 4.67% till 2023. The dual gradient segment currently accounts for the second largest market and is likely to grow at a steady pace over the next several years.

On the basis of tool, global managed pressure drilling market is segmented into rotating control device (RCD), non-return valves (NRV), and choke manifold systems. The rotating control device segment currently accounts for more than 40% share of the market and is projected to attain a valuation of over USD 2,000 Mn by the 2023. The non-return valve segment holds the second spot and is likely to post a CAGR of 3.94% during the forecast period.

On the basis of application, the market has been segmented into onshore and offshore. The later will continue to outperform the former throughout the assessment period. In 2017, the offshore segment accounted for 65.27% share of the market and is likely to post a CAGR of 4.02% till 2023.

Regional Outlook

On the basis of region, the market is segmented into North America, Asia Pacific, Europe, Latin America and the Middle East & Africa (MEA). North America currently accounts for more than one-third share of the global market in terms of revenue. The market in North America stood at a valuation of USD 1,801.9 Mn in 2017 and is projected to post a CAGR of 4.15% during the forecast period. According to BP statistical review, North America had crude oil production of 820,000 barrels per day in the year 2017. Faster adoption of drilling technologies coupled with increased exploration of wells in deepwater and ultra-deepwater in North America is supporting the growth of the market in the region. North America followed by Asia Pacific and Europe respectively. In 2017, Asia Pacific accounted for 27.65% market share while Europe accounted 16.10% market share.

Competition Tracking

Some top-notch companies operating in the global managed pressure drilling market include Ensign Energy Services, Air Drilling Associates, Inc., Enhanced Drilling Services, Schlumberger Limited, Halliburton Inc., Weatherford International, National Oilwell Varco, Nabors Industries Ltd., Oilserv, AFGlobal, and Beyond Energy.

