Managed Pressure Drilling Market Revenue Analysis of Top Key Players | Baker Hughes (U.S.), National Oilwell Varco (U.S.), Halliburton (U.S.), Schlumberger (U.S.), Weatherford International (U.S.)

Global Managed Pressure Drilling Market by Technology, Applications (Offshore, Onshore), and Region– Forecast till 2023

Market Overview:-

The global managed pressure drilling market is projected to reach USD ~3.5 billion with a CAGR of ~4.0% during the forecast period.
The main drivers of this global managed pressure drilling market are increased exploration and production activities, growth in energy demands in developing countries, increase in shale gas productions, increase in count of wellbores drilling activities, and innovative technologies that help improve operational efficiency, cost of production, and time reduction.

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Top Key Players:-

The major key player in global managed pressure drilling market are Baker Hughes (U.S.), National Oilwell Varco (U.S.), Halliburton (U.S.), Schlumberger (U.S.), Weatherford International (U.S.), and Ensign Energy Services (Canada). STRATA Energy Services Inc. (Canada), Enhanced Drilling (Norway), Petrolor Oilfield Services Co Ltd (China), Archer (Bermuda), Blade Energy Partners (U.S), and GE Oil & Gas (U.S.). They are highly capable to offer the finest service in the industry.

Managed Pressure drilling Market - Segmentation

The global managed pressure drilling market is segmented on the basis of technology as constant bottom hole pressure, mud cap drilling, dual gradient drilling and return flow control drilling, on the basis of applications as Offshore and Onshore, and on the basis of Region as North America, Europe, Asia Pacific, and Rest of the World.

Industry News:-

In June 2017, Noble Corporation plc has awarded AFGlobal a contract for the provision of an integrated deepwater managed pressure drilling (MPD) system. The contract include the supply and installation of a completely integrated, next-generation MPD system.
In July 2016, AFGlobal Corp. has agreed to acquire Managed Pressure Operations (MPO), a subsidiary of MHWirth. This acquisition helps the company to solidify their position as a specialized original equipment manufacturer (OEM).

EFC Group, has developed a long-term relationship with Weatherford, leading to multiple contract awards for Managed Pressure Drilling equipment supply to support the Weatherford Secure Drilling services business. These contract include the design and supply of direct hydraulic controls, hydraulic power units, choke, flow metering and buffer manifolds as well as integrated reelers, umbilicals, hoses & stab plates.

Global Managed Pressure Drilling Market Analysis:-

The global managed pressure drilling market is projected to reach USD ~3.5 billion with a CAGR of ~4.0% during the forecast period. This market will grow because it permits efficient and safe drilling activities from few to zero losses, which is quite cost effective than any other conventional drilling methods.

Based on technology, Constant Bottom Hole Pressure will have dominance during forecast period as it makes possible to drill narrow casing. Otherwise, it would have been difficult to drill unconventional resources in less duration of time. Constant Bottom Hole Pressure accounts for over ~40% with a CAGR of ~4.0% during forecast period.

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Based on application, the offshore segment held the largest market share in 2016, which is expected to continue during the forecast period. This segment marked its growth because of the deepwater exploration activities, across the world. In 2015, the global offshore production from deepwater projects reached ~9.5 million barrels, per day.

Based on region, North America accounted for the largest share in terms of revenue, as compared to other regions. This is because of the increased drilling activities, presence of prominent players such as Schlumberger, and Halliburton, followed by Asia Pacific, which is expected to record growth in oil and gas exploration activities, especially in India and China.

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