Global Managed Pressure Drilling Market Synopsis:
The global Managed
Pressure Drilling Market is estimated to expand at a CAGR of 3.92%
during the review period from 2018 to 2023. It is projected to achieve a
revenue of USD 4,750.1 million by 2023.
The acceleration in ultra-deepwater exploration and deep water and
drilling operations executed by emerging economies and industrialization are
the major factors aiding in the growth of managed pressure drilling market
2020. The increased technical advancements for high-pressure drilling and
high-temperature (HPHT) wells are stimulated by casing buckling and rock
collapse is also believed to be a significant stimulus of market demand for
managed pressure drilling.
Globally,
half of the offshore projects are un-drillable due to the technical
constraints. Drilling-related problems raise the issue of loss of circulation,
stuck pipe, twisting off, kick/loss scenarios, which increase the cost of
drilling in various projects. This is where managed pressure drilling (MPD)
plays an important role in overcoming many of the aforementioned obstacles.
There are several benefits of MPD such as avoid kick loss, improved rate of
penetration, drilling with narrow pressure window, accurately managed mud
programs, reduced number of casing, early identification of wellbore
ballooning, reduced nonproductive time and improved drilling efficiency.
Leading Players:
· Weatherford
International (US),
· Air
Drilling Associates (US),
· Ensign
Energy Services (Canada),
· Nabors
Industries Limited (Bermuda),
· National
Oilwell Varco (US),
· Schlumberger
Limited (US),
· Oilserv
(UAE),
· Halliburton
Inc (US),
· Enhanced
Drilling Services (Norway),
· AFGlobal
(US) and
· Beyond
Energy (US).
Segmental
Analysis
The
segmental evaluation of the Managed
Pressure Drilling Industry has
been performed on the basis of application, technology, and region.
On
the basis of the technology, the market for managed pressure drilling is
segmented into dual gradient drilling, mud cap drilling, constant bottom hole
pressure, and return flow control drilling.
Based
on the tools, the managed pressure drilling market is segmented into non-return
valves (NRV), rotating control device (RCD), and choke manifold systems.
The
application basis of segmenting the managed pressure drilling market has been
divided into onshore and offshore.
The
regional basis of market segmentation consists of North America, Asia Pacific,
Middle East, Latin America, Europe, and Africa.
Regional
Analysis
The regional analysis of the
managed pressure drilling market consists of regions like Africa, Latin
America, Europe, North America, Asia Pacific, and the Middle East.
The North American regions
hold the maximum managed pressure drilling market share, of about 47.05% and
the Asia Pacific market holds the second position with the market share of
about 27.65% and the European market stands at the third position with 16.10%
of the market share.
The companies in the North
American region have been integrating the managed pressure drilling technology
to execute the drilling operations simple along with reducing the risk
associated with drilling operations. The utilization of MPD in several projects
to add to the capacity of production while assuring seamless experience,
efficiency, especially by paying attention to angles such as rate of
penetration, the weight of mud is expected to propel the advancement of the
managed pressure drilling market in the assessment period.
The APAC region is abundant
in hydrocarbon resources in regions like Indonesia, the Gulf of Thailand,
Malaysia and are potent enough for rocks like shale in countries like China and
India. The major reason for the accumulation of drilling operators in the APAC
region is due to huge reserves, which are yet to be explored. Moreover, the
continuous production of shale production in South Asia and Central Asia is
also adding to the progress of the maximum managed pressure drilling industry
in the APAC region.
In the European region, the
North Sea has become an epicenter for discoveries in the gas and oil sector.
The constant discoveries have resulted in fierce competition and they are
reacting to the situation by increasing the rate of production with advanced technology.
Hence, the European market is estimated to witness during the assessment
period. Additionally, the advancement of new policies can aid to increase the
investment in offshore projects in the Latin American region during the review
period.
Browse Complete Managed Pressure Drilling Market
Report Details at: https://www.marketresearchfuture.com/reports/managed-pressure-drilling-market-1586
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