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Managed Pressure Drilling Services Market Size, Growth Rate, Top Companies, Regional Outlook And Forecast To 2032
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Managed Pressure Drilling Services Global Market Report 2023 identifies growing energy demand as the major driver for the managed pressure drilling services market's growth in the forecast period. An increase in energy demand due to increasing industrial activity and advances in both developing and developed countries will result in increased extraction and drilling activities, thereby driving the market.
The global managed pressure drilling services market size will grow from $3.7 billion in 2022 to $3.93 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global managed pressure drilling services is expected to grow to $4.87 billion in 2027 at a CAGR of 5.5%.
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Major competitors in the managed pressure drilling services market are Schlumberger Limited, Weatherford International PLC., Nabors Industries Ltd., Ensign Energy Services, Halliburton Inc., National Oilwell Varco.
A key trend in the managed pressure drilling services market includes technological advancement. Major companies operating in the drilling services sector are focused on developing new technological solutions such as FlexJoint technology in drilling activities to strengthen their position in the market. For instance, in May 2022, OIL STATES INDUSTRIES, a US-based company providing integrated energy systems and solutions, introduced new Managed Pressure Drilling and Riser Gas Handling ("MPD" and "RGH") System, which integrates managed pressure drilling and riser gas handling into the deepwater drilling riser in order to unlock greater speed, economy, performance and safety. The system also promotes long bearing life with FlexJoint technology to further decrease maintenance requirements and includes key features that remove workers from the red zone to significantly and thereby increase safety.
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The managed pressure drilling services market is segmented -
1) By Technology: Constant Bottom Hole Pressure (CBHP), Mud Cap Drilling (MCD), Dual Gradient Drilling (DGD), Return Flow Control Drilling (RFCD)
2) By Tool: Rotating Control Device (RCD), Non-Return Valves (NRV), Choke Manifold Systems
3) By Application: Onshore, Offshore
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the managed pressure drilling services market.
The Business Research Company's "Global Managed Pressure Drilling Services Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Managed Pressure Drilling Services Market Include:
1. Executive Summary
2. Managed Pressure Drilling Services Market Characteristics
3. Managed Pressure Drilling Services Market Trends And Strategies
4. Managed Pressure Drilling Services Market - Macro Economic Scenario
5. Managed Pressure Drilling Services Market Size And Growth
…….
26. Africa Managed Pressure Drilling Services Market
27. Managed Pressure Drilling Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Managed Pressure Drilling Services Market
29. Managed Pressure Drilling Services Market Future Outlook and Potential Analysis
30. Appendix
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