Managed Pressure Drilling Services Market 2022-2027 | Industry Overview, Growth, Trends, Size and Forecast Report

The latest research study "Managed Pressure Drilling Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds the global managed pressure drilling services market reached a value of US$ 3.41 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.45 Billion by 2027, exhibiting a CAGR of 4.35% during 2022-2027.

Industry Definition and Application:

Managed pressure drilling (MPD) services assist in controlling the annular force profile precisely throughout the wellbore. They utilize various technologies, such as mud cap, return flow control, constant bottom hole pressure, dual gradient, etc. Managed pressure drilling services aid in avoiding the continuous influx of formation fluids to the surface and enable a more accurate force control, resulting in fewer fluctuations and improved well management. They facilitate operators digging complex onshore wells and workers from mobile offshore drilling units (MODUs) with a surface blowout preventer (BOP). As a result, managed pressure drilling services find widespread applications in the oil and gas sector as they are cost-effective and reliable.

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What are the major drivers for the managed pressure drilling services market?

The escalating offshore oil and gas exploration and production (E&P) activities across the globe are primarily driving the managed pressure drilling services market. Besides this, the elevating demand for these solutions, as they rely on a closed-loop system that assists in determining the downhole force limits, managing the annular pressure profile, and allowing quicker action to deal with observed pressure variations, is further augmenting the market growth.

Moreover, the increasing advancements and innovations in managed pressure drilling technologies, processes, and techniques that facilitate onshore and offshore activities are also catalyzing the global market. Apart from this, these solutions offer several benefits in terms of project economics and reduced non-productive time (NPT), which is expected to bolster the managed pressure drilling services market in the coming years.

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Report Segmentation:

The report has segmented the market on the basis of region, technology and application.

Breakup by Technology:
• Constant Bottom Hole Pressure
• Mud Cap Drilling
• Dual Gradient Drilling
• Return Flow Control Drilling

Breakup by Application:
• Onshore
• Offshore

Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:
• Air Drilling Associates Inc.
• Blade Energy Partners Ltd.
• Global MPD Services Inc.
• Halliburton Company
• Nabors Industries Ltd.
• Nov Inc.
• Pruitt Tool & Supply Co Inc.
• Schlumberger Limited
• Weatherford International plc.
• Enhanced Well Technologies AS
• Ensign Energy Services Inc.
• Exceed (XCD) Holdings Ltd.

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This release was published on openPR.