Managed Pressure Drilling Market Synopsis:
The global managed pressure drilling (MPD) market is projected to exhibit a CAGR of 3.92% during the forecast period (2018-2023). The transition of managed pressure drilling from a solution for undrillable wells to an active approach to well control has increased the development of the market substantially over the past few years. As managed pressure drilling (MPD) can considerably decrease the possibility of drilling-related problems and help reduce nonproductive time, the implementation of MPD technology has grown considerably.
The MPD activities have been evolving very swiftly in the offshore region due to the increased hydrocarbon exploration and the production operators who are focusing on increasing their production rate. The growing technical developments for high-pressure drilling and high-temperature (HPHT) wells which are spurred by casing buckling and rock collapse is also considered an important stimulus of market demand for managed pressure drilling. The exploration in the deepest locations in ultradeep water and the shale oil and gas fields are also expected to create a favorable impetus for the market. This development is expected to create high demand for MPD services as conventional underbalanced drilling can lead to breakdowns in drilling operations in extreme drilling conditions.
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Competitive Dashboard:
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.
Managed Pressure Drilling Market Segments Analysis:
The segmental analysis of the market for managed pressure drilling is segmented on the basis of tool, technology, application, and regions.
The segmentation of the managed pressure drilling market on the basis of tool comprises of rotating control device (RCD), non-return valves (NRV), and choke manifold systems.
On the basis of technology, the managed pressure drilling market is segmented into constant mud cap drilling, dual gradient drilling, bottom hole pressure, and return flow control drilling.
The application basis of segmentation of the market comprises of onshore and offshore.
Managed Pressure Drilling Regional Market Analysis:
The regional assessment of the managed pressure drilling market includes regions such as Latin America, North America, Europe, Asia Pacific, Middle East, and Africa.
The North American region is accredited for the major market share of 47.50% and the Asia Pacific region narrowly takes the second position with 27.65% and the European region comes in third with 16.10% of the market share. In the North American region, the companies have been implementing the managed pressure drilling technology to make exploration and drilling operations simpler along with the alleviation of risks related to drilling operations.
The Asia Pacific region is replete of hydrocarbon resources in areas such as Malaysia, Gulf of Thailand, Indonesia, have a huge potential for shale in countries such as India and China. The chief reasons for the concentration of drilling operators in the Asia Pacific region are the enormous confirmed reserves, which are still uncharted in the region.
In the European region, the North Sea has grown into a hub for novel discoveries in the oil and gas sector. The incessant discoveries have led to elevated competition amongst the competitors and they are responding to the situation by increasing the rate of production with the newest technologies. Therefore, the European MPD market is anticipated to observe steady growth in the forecast period.
List of Tables
Table 1 Market Synopsis
Table 2 List Of Assumptions
Table 3 Global Managed Pressure Drilling Market, By Technology, 2016 To 2023 (USD Million)
Table 4 Global Managed Pressure Drilling Market, By Tool, 2016 To 2023 (USD Million)
Table 5 Global Managed Pressure Drilling Market, By Application, 2016 To 2023 (USD Million)
Table 6 Global Managed Pressure Drilling Market, By Region, 2016 To 2023 (USD Million)
Table 7 North America Managed Pressure Drilling Market, By Country, 2016 To 2023 (USD Million)
Table 8 North America Managed Pressure Drilling Market, By Technology, 2016 To 2023 (USD Million)
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List of Figures
Figure 1 Global Managed Pressure Drilling Market: Market Structure
Figure 2 Key Adoption Criteria Of Global Managed Pressure Drilling Market
Figure 3 Research Process Of MRFR
Figure 4 Top Down & Bottom Up Approach
Figure 5 Global Offshore Rig Count, As On January 2018
Figure 6 Drivers Impact Analysis: Global MPD Market
Figure 7 Restraint Impact Analysis: Global MPD Market
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