Report ID : AMR1004166 | Industries : | Published On :December 2023 | Page Count : 240
Global Managed Pressure Drilling Services Market Size, Trends & Growth Opportunity, By Tool (Rotating Control Device, Non-Return Valves, and Choke Manifold Systems), By Technology (Constant Bottom Hole Pressure, Mud Cup Drilling, Dual Gradient Drilling, and Return Flow Control Drilling), By Application (Onshore and Offshore), By Region (North America, Europe, Asia Pacific, Latin America, Middle East) and forecast till 2030.
Global Managed Pressure Drilling Services Market
The Managed Pressure Drilling Services Market was valued at USD 3.25 Billion in 2022 and is expected to reach USD 5.18 Billion in 2030 at a CAGR of 5.40% during the forecast period 2023- 2030.
Market Overview
Managed pressure drilling (MPD) assists in precisely managing the annular pressure profile throughout the wellbore. It prevents the continual influx of formation fluids to the surface and allows for more accurate bottom hole pressure management, resulting in fewer pressure variations and enhanced well control. It makes it easier for operators to drill difficult onshore wells and for employees to drill from mobile offshore drilling units (MODUs) equipped with a surface blowout preventer (BOP).
Market Drivers
Improved Drilling Efficiency: Managed pressure drilling techniques enhance drilling efficiency by optimizing wellbore pressure. Precise pressure control achieved through managed pressure drilling can lead to improved wellbore integrity and increase hydrocarbon production rates during drilling and production phases.
Increasing drilling activities: Oil and gas companies are increasingly drilling in challenging environments, such as deepwater and ultra-deepwater formations, and areas with narrow pressure margins. Managed pressure drilling can help to mitigate the risks associated with drilling in these challenging environments.
Market Opportunities
Advancements in digital technologies and automation enable more efficient and accurate control of managed pressure drilling systems. Utilizing data analytics and machine learning for real-time monitoring and predictive maintenance can enhance safety and efficiency while reducing downtime. Moreover, managed pressure drilling services can be integrated with other drilling technologies, such as Managed Pressure Cementing and Managed Pressure Reservoir Drill stem Testing, offering comprehensive solutions for challenging drilling scenarios.
Market Restraints
High cost: Managed pressure drilling services are more expensive than conventional drilling services due to the specialized equipment and expertise required. This can be a barrier to adoption for some oil and gas companies.
Operational complexity: Managed pressure drilling operations are more complex than conventional drilling operations. This requires specialized training for drilling personnel and can lead to increased operational time and risk.
Impact of Covid-19
Supply Chain Disruptions: The pandemic caused disruptions to the global supply chain, which created challenges for oil and gas companies to obtain the equipment and supplies needed for managed pressure drilling operations.
Reduced Drilling Activity: The pandemic led to a significant reduction in drilling activity worldwide as oil prices plummeted and demand for oil and gas products declined. Many exploration and production projects were delayed or canceled, directly impacting the demand for managed pressure drilling services.
Workforce Challenges: The pandemic created workforce challenges, including quarantine measures and labor shortages. It also led to travel restrictions worldwide, which made it difficult for oil and gas companies to mobilize their workforce and equipment to drilling sites.
Market Segmentation
Global Managed Pressure Drilling Services Market is segmented into Tool, Technology, and Application. Based on Tool, the Global Managed Pressure Drilling Services Market is segmented into Rotating Control Device, Non-Return Valves, and Choke Manifold Systems. Based on Technology, the Global Managed Pressure Drilling Services Market is segmented into Constant Bottom Hole Pressure, Mud Cup Drilling, Dual Gradient Drilling, and Return Flow Control Drilling. Based on Application, the Global Managed Pressure Drilling Services Market is segmented into Onshore and Offshore.
Regional Analysis
Global Managed Pressure Drilling Services Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to account for the largest market over the forecast period with a growing CAGR of 5.37% in Global Managed Pressure Drilling Services Market. Managed Pressure Drilling Services in North America are experiencing robust growth, driven by increased demand for cost-effective, environmentally friendly drilling techniques, and expanding energy exploration activities across the region.
Market Key Players
Various key players are discussed in this report such as Baker Hughes Inc., Halliburton Company, Weatherford International Limited, Schlumberger Limited –SLB, National Oilwell Varco –NOV Inc., Archer Limited, Ensign Energy Services Inc., Air Drilling Associates, Inc., Blade Energy Partners, and Aker Solutions.
Market Taxonomy
By Tool
• Rotating Control Device
• Non-Return Valves
• Choke Manifold Systems
By Technology
• Constant Bottom Hole Pressure
• Mud Cup Drilling
• Dual Gradient Drilling
• Return Flow Control Drilling
By Application
• Onshore
• Offshore
By Region
• North America
o U.S.
o Canada
o Mexico
• Latin America
o Brazil
o Argentina
o Colombia
o Peru
o Chile
o Venezuela
o Rest of Latin America
• Europe
o Germany
o France
o UK
o Russia
o Italy
o Spain
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o New Zealand
o Singapore
o Malaysia
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest Middle East & Africa
Key Questions Addressed by the Report
• What are the Key Opportunities in Global Managed Pressure Drilling Services Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have highest growth?
• What are the factors that will impact/drive the Market?
• What is the competitive Landscape in the Industry?
• What is the role of key players in the value chain?
• What are the strategies adopted by key players?
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Global Managed Pressure Drilling Services Market
1 Introduction
1.1 Objective of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Managed Pressure Drilling Services Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to Recent Energy Crisis
4.2.5 Cumulative Impact due to Nearing Economic Downturn
4.2.6 Post Covid-19 World Supply & Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Managed Pressure Drilling Services Market, By Tool
5.1 Y-o-Y Growth Comparison, By Tool
5.2 Global Managed Pressure Drilling Services Market Share Analysis, By Tool
5.3 Global Managed Pressure Drilling Services Market Size and Forecast, By Tool
5.3.1 Rotating Control Device
5.3.2 Non-Return Valves
5.3.3 Choke Manifold Systems
6 Global Managed Pressure Drilling Services Market, By Technology
6.1 Y-o-Y Growth Comparison, By Technology
6.2 Global Managed Pressure Drilling Services Market Share Analysis, By Technology
6.3 Global Managed Pressure Drilling Services Market Size and Forecast, By Technology
6.3.1 Constant Bottom Hole Pressure
6.3.2 Mud Cup Drilling
6.3.3 Dual Gradient Drilling
6.3.4 Return Flow Control Drilling
7 Global Managed Pressure Drilling Services Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Managed Pressure Drilling Services Market Share Analysis, By Application
7.3 Global Managed Pressure Drilling Services Market Size and Forecast, By Application
7.3.1 Onshore
7.3.2 Offshore
8 Global Managed Pressure Drilling Services Market, By Region
8.1 Global Managed Pressure Drilling Services Market Share Analysis, By Region
8.2 Global Managed Pressure Drilling Services Market Size and Forecast, By Region
8.3 Global Managed Pressure Drilling Services Market Trends and Forecast, By Region
9 North America Managed Pressure Drilling Services Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Managed Pressure Drilling Services Market Size and Forecast, By Tool
9.3 North America Managed Pressure Drilling Services Market Size and Forecast, By Technology
9.4 North America Managed Pressure Drilling Services Market Size and Forecast, By Application
9.5 North America Managed Pressure Drilling Services Market Size and Forecast, By Country
9.5.1 U.S.
9.5.1.1 Market Size and Forecast, By Tool
9.5.1.2 Market Size and Forecast, By Technology
9.5.1.3 Market Size and Forecast, By Application
9.5.2 Canada
9.5.2.1 Market Size and Forecast, By Tool
9.5.2.2 Market Size and Forecast, By Technology
9.5.2.3 Market Size and Forecast, By Application
9.5.3 Mexico
9.5.3.1 Market Size and Forecast, By Tool
9.5.3.2 Market Size and Forecast, By Technology
9.5.3.3 Market Size and Forecast, By Application
10 Europe Managed Pressure Drilling Services Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Managed Pressure Drilling Services Market Size and Forecast, By Tool
10.3 Europe Managed Pressure Drilling Services Market Size and Forecast, By Technology
10.4 Europe Managed Pressure Drilling Services Market Size and Forecast, By Application
10.5 Europe Managed Pressure Drilling Services Market Size and Forecast, By Country
10.5.1 Germany
10.5.1.1 Market Size and Forecast, By Tool
10.5.1.2 Market Size and Forecast, By Technology
10.5.1.3 Market Size and Forecast, By Application
10.5.2 France
10.5.2.1 Market Size and Forecast, By Tool
10.5.2.2 Market Size and Forecast, By Technology
10.5.2.3 Market Size and Forecast, By Application
10.5.3 UK
10.5.3.1 Market Size and Forecast, By Tool
10.5.3.2 Market Size and Forecast, By Technology
10.5.3.3 Market Size and Forecast, By Application
10.5.4 Russia
10.5.4.1 Market Size and Forecast, By Tool
10.5.4.2 Market Size and Forecast, By Technology
10.5.4.3 Market Size and Forecast, By Application
10.5.5 Italy
10.5.5.1 Market Size and Forecast, By Tool
10.5.5.2 Market Size and Forecast, By Technology
10.5.5.3 Market Size and Forecast, By Application
10.5.6 Spain
10.5.6.1 Market Size and Forecast, By Tool
10.5.6.2 Market Size and Forecast, By Technology
10.5.6.3 Market Size and Forecast, By Application
10.5.7 Rest of Europe
10.5.7.1 Market Size and Forecast, By Tool
10.5.7.2 Market Size and Forecast, By Technology
10.5.7.3 Market Size and Forecast, By Application
11 Asia Pacific Managed Pressure Drilling Services Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Managed Pressure Drilling Services Market Size and Forecast, By Tool
11.3 Asia Pacific Managed Pressure Drilling Services Market Size and Forecast, By Technology
11.4 Asia Pacific Managed Pressure Drilling Services Market Size and Forecast, By Application
11.5 Asia Pacific Managed Pressure Drilling Services Market Size and Forecast, By Country
11.5.1 China
11.5.1.1 Market Size and Forecast, By Tool
11.5.1.2 Market Size and Forecast, By Technology
11.5.1.3 Market Size and Forecast, By Application
11.5.2 Japan
11.5.2.1 Market Size and Forecast, By Tool
11.5.2.2 Market Size and Forecast, By Technology
11.5.2.3 Market Size and Forecast, By Application
11.5.3 India
11.5.3.1 Market Size and Forecast, By Tool
11.5.3.2 Market Size and Forecast, By Technology
11.5.3.3 Market Size and Forecast, By Application
11.5.4 South Korea
11.5.4.1 Market Size and Forecast, By Tool
11.5.4.2 Market Size and Forecast, By Technology
11.5.4.3 Market Size and Forecast, By Application
11.5.5 Australia
11.5.5.1 Market Size and Forecast, By Tool
11.5.5.2 Market Size and Forecast, By Technology
11.5.5.3 Market Size and Forecast, By Application
11.5.6 New Zealand
11.5.6.1 Market Size and Forecast, By Tool
11.5.6.2 Market Size and Forecast, By Technology
11.5.6.3 Market Size and Forecast, By Application
11.5.7 Singapore
11.5.7.1 Market Size and Forecast, By Tool
11.5.7.2 Market Size and Forecast, By Technology
11.5.7.3 Market Size and Forecast, By Application
11.5.8 Malaysia
11.5.8.1 Market Size and Forecast, By Tool
11.5.8.2 Market Size and Forecast, By Technology
11.5.8.3 Market Size and Forecast, By Application
11.5.9 Rest of Asia
11.5.9.1 Market Size and Forecast, By Tool
11.5.9.2 Market Size and Forecast, By Technology
11.5.9.3 Market Size and Forecast, By Application
12 Latin America Managed Pressure Drilling Services Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Managed Pressure Drilling Services Market Size and Forecast, By Tool
12.3 Latin America Managed Pressure Drilling Services Market Size and Forecast, By Technology
12.4 Latin America Managed Pressure Drilling Services Market Size and Forecast, By Application
12.5 Latin America Managed Pressure Drilling Services Market Size and Forecast, By Country
12.5.1 Brazil
12.5.1.1 Market Size and Forecast, By Tool
12.5.1.2 Market Size and Forecast, By Technology
12.5.1.3 Market Size and Forecast, By Application
12.5.2 Argentina
12.5.2.1 Market Size and Forecast, By Tool
12.5.2.2 Market Size and Forecast, By Technology
12.5.2.3 Market Size and Forecast, By Application
12.5.3 Colombia
12.5.3.1 Market Size and Forecast, By Tool
12.5.3.2 Market Size and Forecast, By Technology
12.5.3.3 Market Size and Forecast, By Application
12.5.4 Peru
12.5.4.1 Market Size and Forecast, By Tool
12.5.4.2 Market Size and Forecast, By Technology
12.5.4.3 Market Size and Forecast, By Application
12.5.5 Chile
12.5.5.1 Market Size and Forecast, By Tool
12.5.5.2 Market Size and Forecast, By Technology
12.5.5.3 Market Size and Forecast, By Application
12.5.6 Venezuela
12.5.6.1 Market Size and Forecast, By Tool
12.5.6.2 Market Size and Forecast, By Technology
12.5.6.3 Market Size and Forecast, By Application
12.5.7 Rest of Latin America
12.5.7.1 Market Size and Forecast, By Tool
12.5.7.2 Market Size and Forecast, By Technology
12.5.7.3 Market Size and Forecast, By Application
13 Middle East Managed Pressure Drilling Services Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Middle East Managed Pressure Drilling Services Market Size and Forecast, By Tool
13.3 Middle East Managed Pressure Drilling Services Market Size and Forecast, By Technology
13.4 Middle East Managed Pressure Drilling Services Market Size and Forecast, By Application
13.5 Middle East Managed Pressure Drilling Services Market Size and Forecast, By Country
13.5.1 Saudi Arabia
13.5.1.1 Market Size and Forecast, By Tool
13.5.1.2 Market Size and Forecast, By Technology
13.5.1.3 Market Size and Forecast, By Application
13.5.2 UAE
13.5.2.1 Market Size and Forecast, By Tool
13.5.2.2 Market Size and Forecast, By Technology
13.5.2.3 Market Size and Forecast, By Application
13.5.3 Egypt
13.5.3.1 Market Size and Forecast, By Tool
13.5.3.2 Market Size and Forecast, By Technology
13.5.3.3 Market Size and Forecast, By Application
13.5.4 Kuwait
13.5.4.1 Market Size and Forecast, By Tool
13.5.4.2 Market Size and Forecast, By Technology
13.5.4.3 Market Size and Forecast, By Application
13.5.5 South Africa
13.5.5.1 Market Size and Forecast, By Tool
13.5.5.2 Market Size and Forecast, By Technology
13.5.5.3 Market Size and Forecast, By Application
13.5.6 Rest of Middle East & Africa
13.5.6.1 Market Size and Forecast, By Tool
13.5.6.2 Market Size and Forecast, By Technology
13.5.6.3 Market Size and Forecast, By Application
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Baker Hughes Inc.
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Halliburton Company
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Weatherford International Limited
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Schlumberger Limited –SLB
15.4.1 Overview
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 National Oilwell Varco –NOV Inc
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Archer Limited
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Ensign Energy Services Inc.
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Air Drilling Associates, Inc.
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Blade Energy Partners
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Aker Solutions.
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
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