Managed Pressure Drilling Market SIZE, SHARE, FACTS & FIGURES | INDUSTRY GROWTH REPORT FORECAST TO 2

Managed Pressure Drilling Market Research Report- Forecast to 2021

Managed Pressure Drilling Market SIZE, SHARE,

FACTS & FIGURES | INDUSTRY GROWTH REPORT FORECAST TO

2021.

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Copyright © 2018 Market Research Future.

Managed Pressure Drilling Market Research Report- Forecast to 2021

1 Summary The demand for energy and power is ever increasing and has resulted in increasing exploration activities both onshore and offshore. Exploration has resulted in increasing drilling activities which is pushing the demand in the Managed Pressure drilling market. Increasing exploration activities in deep water and ultradeep water will significantly contribute towards the growth and development of the Managed Pressure drilling market.

Key Players: Some of the key players in the managed pressure drilling market are Weatherford International (Ireland), Archer Well Services (U.K.), Schlumberger Limited (U.S.), Halliburton (U.S.) and Baker Hughes (U.S.).

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Managed Pressure Drilling Market Research Report- Forecast to 2021

2

Market Overview

Global increasing demand for energy has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the Managed Pressure drilling market. Moreover, new oil reserve discoveries increase the drilling and exploration activities in coming years which upsurge the demand for the market. Additionally, increasing deepwater drilling activities in Africa and Latin America is also expected to boost the demand for managed pressure drilling services during the forecast period. However, environmental risks and strict government regulations for drilling as well as increasing focus on renewable energy may hinder the market growth of the market.

Segments:Based on Technology, the market has been segmented into Mudcap Drilling, Constant Bottom Hole Pressure and Return Flow control Drilling. Constant Bottom Hole Pressure dominates the technology segment of the market and is expected to grow at highest CAGR during the forecast period. CBHP technique provides site safety by monitoring the annular pressure while detecting kicks and fluid losses early and drilling. This technology is used extensively in the North American continent for drilling offshore wells in the Gulf of Mexico, where drilling conditions are tough.

Based on Well Type, the market has been segmented land and offshore. The offshore segment held the largest share in the managed pressure drilling market and is expected to grow at highest CAGR during the forecast period. The growth is attributed to the frequent use of managed pressure drilling in High Pressure High Temperature (HPHT) wells and deepwater resources.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, Asia Pacific, Middle East & Africa and South America.

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Managed Pressure Drilling Market Research Report- Forecast to 2021

3 Market Research Analysis North America dominates the Managed Pressure drilling market. The U.S. accounts for the largest market share in the North American region. The advancements in unconventional drilling technologies, which have attracted capital for oil and gas drilling projects. Additionally, vast hydrocarbon resources in the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand of the market.

Africa is other major market for the Managed Pressure drilling. Increasing offshore discoveries in countries such as Nigeria, Angola, and Tanzania driving the growth of the market in the region. Asia Pacific and Europe are also an important market for the Managed Pressure drilling. Increasing demand for energy due to urbanization & industrialization from the countries such as India, China, and Indonesia among others driving the demand of the market in Asia Pacific region. The Europe Managed Pressure drilling market is expected to be dominated by countries such as U.K, Norway and Russia. The development of unconventional oil and gas exploration activities such as shale, is driving the market in the region. It is expected to contribute significantly during the forecast period.

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Copyright Š 2018 Market Research Future.

Managed Pressure Drilling Market Research Report- Forecast to 2021

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Copyright Š 2018 Market Research Future.