Managed Pressure Drilling Market 2018 Flourishes with International Prestigious Players | Baker Hughes, National Oilwell Varco, Halliburton, Schlumberger, Weatherford International, and Ensign Energy Services, Etc.

Managed Pressure Drilling Market Overview:
Managed Pressure Drilling Market is projected to reach USD 3.5 Billion with a CAGR of 4.0% during the forecast period.

Managed Pressure Drilling (MPD) is a drilling technique that uses enclosed and pressurized circulation system to provide precise wellbore control. MPD is applicable in severe conditions, such as fluid loss, tight pore pressure, high-pressure, high-temperature drilling, differential sticking, unknown pore pressure, and various other conditions.

Managed Pressure Drilling is booming and expected to gain prominence over the forecast period. The global Managed Pressure drilling market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2018 – 2023).

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Managed Pressure Drilling Market Application:
Based on application, the offshore segment held the largest market share in 2017, which is expected to continue during the forecast period. This segment marked its growth because of the Deepwater exploration activities, across the world. In 2016, the global offshore production from Deepwater projects reached 9.5 Million barrels, per day.

Managed Pressure Drilling (MPD) is commonly known as integrated method drilling is drilling with precisely controlled BHP to avoid influx, fluid loss or borehole instability. Pressure profile managed by addition of surface pressure or by change in hydrostatics or friction pressure. It is a special drilling system developed to overcome the excessive costs of non-productive time because of near vicinity within the fracture and pore pressures in both onshore and offshore drilling. MPD can be expressed generally as a technique for management of wellbore pressure. This technique along with developed equipment has broad to constraint well kick, lost mud circulation, degree of difference pressure sticking and to bring reduction in addition of casings string needed to get the total depth. MPD eases the difficulties of great losses related in drilling fractured zone and karstic reservoir.

Global increasing demand for energy has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the Managed Pressure drilling market. Moreover, new oil reserve discoveries increase the drilling and exploration activities in coming years which upsurge the demand for the market. Additionally, increasing Deepwater drilling activities in Africa and Latin America is also expected to boost the demand for managed pressure drilling services during the forecast period. However, environmental risks and strict government regulations for drilling as well as increasing focus on renewable energy may hinder the market growth of the market.

Managed Pressure Drilling Market Key Players:
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), Petrol or 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.

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Managed Pressure Drilling Market Synopsis & Scenario:
Managed pressure drilling services are primarily used to control wellbore pressure. The growing energy demand coupled with the maturing onshore oilfields is generating the demand for new oil & gas discoveries. Additionally, the success of managed pressure drilling in fields that were earlier considered uneconomical to drill would provide an impetus to the managed pressure drilling market

Managed pressure drilling is preferred more in offshore when compared with onshore due to the high-cost associated with managed pressure drilling. The offshore application of the managed pressure drilling market is growing at a rapid pace. This growth is attributed by the augmented offshore exploration and recent discoveries in countries like Saudi Arabia, Angola and Nigeria to name a few have also contributed to the growth of the market.

Managed Pressure Drilling Market Regional Analysis:
North America dominates the Managed Pressure drilling market. The U.S. accounts for the largest market share in the North American region. The advancements in unconventional drilling technologies, which have attracted capital for oil and gas drilling projects. Additionally, vast hydrocarbon resources in the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand of the market.

Africa is other major market for the Managed Pressure drilling. Increasing offshore discoveries in countries such as Nigeria, Angola, and Tanzania driving the growth of the market in the region. Asia Pacific and Europe are also an important market for the Managed Pressure drilling.  Increasing demand for energy due to urbanization & industrialization from the countries such as India, China, and Indonesia among others driving the demand of the market in Asia Pacific region. The Europe Managed Pressure drilling market is expected to be dominated by countries such as U.K, Norway and Russia. The development of unconventional oil and gas exploration activities such as shale, is driving the market in the region. It is expected to contribute significantly during the forecast period.

Managed Pressure Drilling Market Segmentation:
Managed Pressure Drilling Market is segmented in to two key dynamics for an easy grasp and enhanced understanding.

Segmentation:
Based on Technology, the market has been segmented into Mudcap Drilling, Constant Bottom Hole Pressure and Return Flow control Drilling. Constant Bottom Hole Pressure dominates the technology segment of the market and is expected to grow at highest CAGR during the forecast period. CBHP technique provides site safety by monitoring the annular pressure while detecting kicks and fluid losses early and drilling. This technology is used extensively in the North American continent for drilling offshore wells in the Gulf of Mexico, where drilling conditions are tough.

Based on Well Type, the market has been segmented land and offshore. The offshore segment held the largest share in the managed pressure drilling market and is expected to grow at highest CAGR during the forecast period.  The growth is attributed to the frequent use of managed pressure drilling in High Pressure High Temperature (HPHT) wells and Deepwater resources.

Managed Pressure Drilling Market Table of Content:
1 Executive Summary

2 Scope of The Report
2.1 Market Definition

2.2 Scope of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model3 Market Landscape

3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants

3.1.2 Bargaining Power of Buyers

3.1.3 Bargaining Power of Suppliers

3.1.4 Threat of Substitutes

3.1.5 Segment Rivalry

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics
4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

4.5 Market Trends

5 Global Managed Pressure Drilling Market, By Technology
5.1 Introduction

5.2 Constant Bottom Hole Pressure

5.2.1 Market Estimates & Forecast, 2018-2023

5.2.2 Market Estimates & Forecast by Region, 2018-2023

5.3 Mud Cap Drilling

5.3.1 Market Estimates & Forecast, 2018-2023

5.3.2 Market Estimates & Forecast by Region, 2018-2023

5.4 Dual Gradient Drilling

5.4.1 Market Estimates & Forecast, 2018-2023

5.4.2 Market Estimates & Forecast by Region, 2018-2023

5.5 Return Flow Control Drilling

5.5.1 Market Estimates & Forecast, 2018-2023

5.5.2 Market Estimates & Forecast by Region, 2018-2023

Managed Pressure Drilling Market Table of Content to be Continue….,

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