Global Managed Pressure Drilling (MPD) Services Market by Technology (Return Flow Control Drilling, Constant Bottom Hole Pressure, Dual Gradient Drilling, Mud Cap Drilling) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2015, the global managed pressure drilling services market was worth USD 3.70 billion. The market is expected to grow due to a sustained demand for fossil fuels and declining production of oil & natural gas reserves. These services are primarily used to monitor and regulate wellbore pressures. Market penetration will also be boosted by the increasing success rate for managed drilling services over conventional methods.

Different countries have adopted a number of regulatory initiatives to support the exploration and production of natural gases. This support will result in increased use of operations like managed pressure drilling to develop unconventional gases in the future.

The market penetration is expected to be influenced by safety, health and environmental concerns. This includes countries like China, Norway, Algeria and the U.S. Mexico where new E&P projects may be in the development phase or in the initiation phase. MPD reduces drilling risks, such as fluid loss, differential sticking and lost circulation. It also kicks off by precisely managing pressure.

This allows for continuous drilling of long sections, and allows for high flexibility in casing design to drill deeper wells. MPD is expected to provide a safer drilling environment by reducing the risk of blowouts or other uncontrolled pressure fluctuations.

These methods allow for safe and efficient drilling in areas with severe or total loss. They are also highly cost-effective compared to conventional methods. Drill string can be easily moved and shifted around, which reduces the risk of differential sticking. This could lead to significant cost savings.

Over the forecast period, industry participants will face key challenges due to ineffective training and lack of technical knowledge. Managed pressure drilling is a different type of drilling than conventional oilfield equipment. This technique requires a high level understanding of bore well pressure issues.

Technology Insights

The global managed pressure drilling services market is segmented on the basis of technology into mud cap drilling, dual gradient drilling and constant bottom hole pressure (CBHP), return flow control drilling (RFCD), and mud drilling (MCD).

CBHP is widely used to drill wells that have higher uncertainty due to the tight mud weight window, pressure limits with kicks/losses, and pressure limits. This technology is used extensively in North America, including offshore wells in Mexico. These areas have challenging drilling conditions. This technology can also be used to overcome operational problems such as lost circulation, gas influxes and other non-productive time due to high-pressure formations or procedures.

CBHP technology provides site safety by monitoring annular pressure and detecting kicks early on and drilling. The hydrostatic pressure of drilling mud and friction pressure created by pumps operating determine the bottom hole pressure. CBHP technology was dominant in the market, accounting for more than 40%. It is expected to grow at a CAGR 4.1% between 2016 and 2024.

Market trends are shifting towards high automation, where all MPD process components can operate and be controlled from one interface point. This allows for faster response times and requires less human resource.

DGD is used to create multiple pressure gradients in select sections of the annulus to manage its pressure profile. DGD uses pumps and fluids with different densities to operate. DGD services are growing in importance. It is predicted to grow at the second highest growth rate in the future.

A method that uses pressurized mud caps drilling (PMCD), which is where drilling is done without any returns to the surface and with an annulus fluid column. This is supported by surface pressure, which is possible through the use of a rotating control system. The lost circulation zone accepts a sacrificial fluid and cuttings. These techniques are used in cases of high lost circulation, which prevents the use of traditional wellbore construction methods.

PMCD is expected grow at a rapid pace and is widely used around the globe to drill through fractured and vugular carbonate formations, where circulation losses can simultaneously be severe and abrupt. PMCD allows drilling to continue at a greater depth, despite any losses.

Application Insights

Because of its high cost, managed pressure drilling is mostly used for offshore drilling. The overall market growth is expected to be driven by increased exploration in deep and ultra-deep sea regions, especially in Africa and Europe that have recently experienced oil & gas discoveries offshore.

The market's growth can be attributed to the growing demand for pressure drilling in high-temperature high-pressure deep water resources and wells. Over the forecast period, this application segment will account for more than two-thirds of the global market.

MPD technology can be used to provide safe and efficient operations onshore for wells that have been drilled. MPD technology can offer onshore capabilities that range from pressure management to an automated response.

Over the next seven year, technological advancements and innovative solutions are expected to increase MPD's use. Recent advances in managed pressure drilling have been made. To gain a competitive advantage over their peers, many industry players are developing new technologies.

Regional Insights

The North American managed pressure drilling services market was dominant in 2015 accounting for more than 35% of global revenue. There is a rising demand for safe and cost-effective pressure drilling techniques, accompanied by favorable government initiatives like capital incentives and easy FDI flow. The United States is expected to have the largest share of this region, with a net worth of USD 1,329.5million by 2024.

Canada will experience a significant increase in its oil production over the next seven year due to the development of alternative sources such as tight oil and tarsands. Industry players in Canada include Shantos, ConocoPhilips, Medco Energi, InterOil, Tately, JVPC Hess. Over 600 operations are performed every day using MPD with closed-wellbore solutions. The latest discoveries in offshore areas such as Mozambique and Tanzania have led to a significant increase in Africa's growth rate.

The Asia Pacific market for MPD service was dominated in 2015 by India, Australia, and China. They accounted for more that 80% of the regional market. With the rise of energy demand from the developing countries in the region, the market is expected to grow.

The Middle East MPD services market is expected to be driven by offshore developments and discoveries, particularly in the Red Sea area, by countries like Qatar, UAE and Saudi Arabia. The Saudi Arabia market is expected to grow to USD 319.1million by 2024.

Market Share insights on Managed Pressure Drilling Services

Weatherford International and Halliburton are the key vendors in the global managed-pressure drilling services market. Aker Solutions, Baker Hughes, Schlumberger and Baker Hughes are other industry players.

Leading players adopt different strategies through innovation and expansion of their portfolio worldwide. Globally, the market is dominated in oilfield service providers companies like Schlumberger, Halliburton and BJ Services. FTS International accounted for more than half of global revenue in 2015.

To expand their product and services portfolio, major market leaders are buying smaller companies. Schlumberger Limited, for example, acquired Meta Downhole Limited in March 2016, to expand its downhole completions technology portfolio.

The report covers segments

This report predicts revenue growth and volume growth at the global, regional and country levels. It also provides analysis on industry trends for each sub-segment from 2014-2024. Grand View Research has divided the global managed pressure drilling service market based on technology, application, region, and country.

• Technology Outlook (Revenue USD Million; 2014-2024)

  • Drilling mud caps

  • Constant bore hole pressure

  • Dual gradient drilling

  • Drilling to control return flow

• App Outlook (Revenue USD Million; 2014-2024)

  • Offshore

  • Offshore

• Regional Outlook (Revenue USD Million; 2014-2024)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Russia

    • Norway

  • Asia Pacific

    • China

    • Australia

    • India

  • Cental & South America

    • Brazil

    • Argentina

  • Middle East

    • UAE

    • Saudi Arabia

    • Kuwait

  • Africa

    • Nigeria

    • Angola

    • Algeria

Up Market Research published a new report titled “Managed Pressure Drilling (MPD) Services Market research report which is segmented by Technology (Return Flow Control Drilling, Constant Bottom Hole Pressure, Dual Gradient Drilling, Mud Cap Drilling), By Players/Companies Baker Hughes, Halliburton, Archer Well Services, Aker Solutions, Weatherford International Other industry participants include Schlumberger”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Managed Pressure Drilling (MPD) Services Market Report Segments:

The market is segmented by Technology (Return Flow Control Drilling, Constant Bottom Hole Pressure, Dual Gradient Drilling, Mud Cap Drilling).

Managed Pressure Drilling (MPD) Services Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Managed Pressure Drilling (MPD) Services Market

Overview of the regional outlook of the Managed Pressure Drilling (MPD) Services Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Managed Pressure Drilling (MPD) Services Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Managed Pressure Drilling (MPD) Services Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Return Flow Control Drilling

                2. Constant Bottom Hole Pressure

                3. Dual Gradient Drilling

                4. Mud Cap Drilling

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Managed Pressure Drilling (MPD) Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Managed Pressure Drilling (MPD) Services Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.