Managed Pressure Drilling (MPD) Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Energy and Power | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC388

Introduction

A subtle shrink in production of onshore oil & gas reserves coupled with persistent demand for fossil fuel is anticipated to escalate the growth of managed pressure drilling (MPD) market in the coming years. A managed pressure drill is the modern technique of extracting fuels. In contrast to the traditional system, the managed pressure drill offers a good control over the precision of wellbore pressure profile. Moreover, managed pressure drilling modifies the visibility of circulated fluid system into a pressure vessel. MPD is more effective in certain conditions such as single phased fluid. Additionally, it also provides persisting drilling of long sections & great flexibility in casing design for deeper drilling.

Market Dynamics

The MPD services are primarily utilized for control and monitoring of wellbore pressures, because it effectively moderates the drilling hazards such as differential sticking, fluid loss, nuisance gas zones, lost circulation by reducing the possibilities of blowouts and other unrestrained fluctuations of bottom whole pressure. As healthy environment and safety have become major concerns in drilling process, the MPD services’ ability to govern the drilling process in more controlled and precise manner, which indeed is expected to catalyse the MPD services market growth in the nearing future. Also, it is highly cost efficient than the other conventional drilling methods. The drilling shift of MPD is portable and thus it can be moved and shifted every time. Lack of understanding regarding the bore well pressure and technicality of the system coupled with futile training in functional organizations are predicted to be the major challenges in the market. As MPD demands specific tools and instruments in addition to the traditional oil field equipment, it requires highly skilled professionals. Further, demand for drilling technologies in complicated formations and rising number of mature wells are expected to generate growth opportunities for the market during the forecast period.

Market Classification and Segment Overview

The managed pressure drilling market is broadly segmented in accordance with different kinds of technologies and its applications. By technology, the market is segmented into dual gradient drilling (DGD), return flow drilling (RFCD), constant bottom hole drilling (CBHP) and mud cap drilling (MCD). Constant bottom hole drilling is the most extensively used technology for drilling wells owing to its capability to overcome certain operational challenges like wastage of time due to gas influx formations and high pressure or lost circulation. North America is the major consumer of this service, especially in the tough drilling areas of the region such as Mexico. On-shore and off-shore are the two major application segments of the market, where off-shore MPD is anticipated to dominate the market due to its major demand for pressure drilling in high pressure, high temperature and deep water sources.

Globally, the market is fragment into five major regions comprising North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa (MEA). Presently, North America is the leading region owing to the rising demand for safe pressure and cost effective drilling techniques along with positive government initiatives that include easy capital incentives and FDI flow. Further, developments on off-shore sites and discoveries, specifically in Red Sea region are projected to the drive the MEA market during the forecast period.

Report Coverage

Market

Global Managed Pressure Drilling Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Technology, Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

The market comprises various leading vendors such as Weatherford International, Halliburton, Baker Hughes, Schlumberger and Aker Solutions. These leading players in the market have adopted for distinct strategies in order to maintain their position in the market, for instance by expanding their network or through innovations. The market globally is ruled by oil field service providing companies that include BJ Services, FTS International, Schlumberger and Halliburton, which collaboratively capture approximately half of the global market for managed pressure drilling.

Market Segmentation

Market by Technology

·         Dual gradient drilling (DGD)

·         Return flow drilling (RFCD)

·         Constant bottom hole drilling (CBHP)

·         Mud cap drilling (MCD)

Market by Application

·         On-shore

·         Off-shore

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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