PUBLISHER: Market Research Future | PRODUCT CODE: 1490762
PUBLISHER: Market Research Future | PRODUCT CODE: 1490762
Analysis of the Managed Pressure Drilling Market Research Report The global forecast for drilling technology, tools, applications, and regions is as follows: by technology (constant bottom hole pressure, CBHP, mud cap drilling, MGD, DGD, RFCD), by tool (rotating control device, non-return valves, choke manifold systems), by application (onshore, offshore), and by region (to 2032).
In 2024, the controlled pressure drilling market size was estimated to be worth USD 5895.05 million. The managed pressure drilling market is anticipated to expand at a compound annual growth rate (CAGR) of 4.39% from 2024 to 2032, or USD 8,314.8 million. According to the market analysis and worldwide trends, the market will be driven during the projected period by an increase in deepwater and ultra-deepwater exploration and drilling activities.
An adaptive drilling technique is managed pressure drilling (MPD). It is employed to regulate the annular pressure profile in the wellbore exactly. The primary goal of the MPD process is to establish a pressure profile in the well that will allow it to remain at the boundary of the operation envelope, which is determined by the fracture pressure, pore pressure, and hole stability envelope, and within tight tolerances. Through the management of the annular pressure profile, MPD employs a variety of techniques to reduce the risks and expenses related to well drilling. These methods involve regulating the combination of backpressure, circulation friction, fluid density, fluid rheology, annular fluid level, and hole geometry.
The primary industries propelling the growth of the managed pressure drilling market are exploration and oil and gas extraction, pushing the market to its maximum potential over time. As to the World Energy & Climate Statistics Yearbook 2023, the worldwide crude oil output surged at a historic 5.4% rate in 2022, surpassing the growth of 1.6% in 2021. The market for controlled pressure drilling is growing as a result of an increase in drilling operations for oil and gas production and exploration in deep and ultra-deep waters.
Insights on market segments
The market for controlled pressure drilling has been divided into four segments: return flow control drilling (RFCD), dual gradient drilling (DGD), mud cap drilling (MCD), and constant bottom hole pressure (CBHP).
The non-return valve, choke manifold systems, and rotating control device segments of the managed pressure drilling market are based on tool.
The managed pressure drilling market has been divided into two segments: offshore and onshore, based on the application industry.
Regional Perspectives
With a share of 47.9%, North America emerged as the top segment. By the conclusion of the forecast year, the segment is expected to be valued USD 2,609.5 million. The region also saw the fastest segment growth, with a robust CAGR of 4.7%.
Principal Players
Air Drilling Associates (US), Ensign Energy Services (Canada), Enhanced Drilling Services (Norway), Schlumberger Limited (US), Halliburton Inc. (US), Weatherford International (US), National Oilwell Varco (US), Nabors Industries Limited (Bermuda), Oilserv (UAE), AFGlobal (US), and Beyond Energy (US) are some of the major players in the managed pressure drilling market.