Managed Pressure Drilling (MPD) Services Market to Register Substantial Expansion by 2024


The global managed pressure drilling (MPD) services market is expected to reach USD 5.06 billion by 2024, according to a new report by Grand View Research, Inc. Factors such as rising hydrocarbon production cost coupled with depleting extraction rates in conventional onshore wells have led to increasing offshore exploration activities. This is likely to have a significant impact on the managed pressure drilling market. The success of these extraction techniques in areas which were previously considered to be uneconomical has stimulated the market growth. 
MPD techniques do not provide any surface return; this restricts the sampling sources for geologists. A significant amount of drill fluids required and variation in MPD techniques is likely to limit the market growth during the forecast period. Technological advancements along with coupling MPD techniques with horizontal drilling in tight formations is anticipated to create new avenues for industry participants in the near future. 
Constant bottom hole pressure (CBHP) emerged as the leading technology segment and accounted for 43.3% of the global revenue in 2015. This technique facilitates better safety of the sites by controlling the pressure and detecting early fluid losses. Mud cap drilling (MCD) technique is likely to lose share to CBHP and dual gradient drilling (DGD) technologies owing to the high cost associated with this technology. 

Full Research Report On Global Managed Pressure Drilling Services Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/managed-pressure-drilling-mpd-services-market

Further key findings from the report suggest:

  • Onshore oilfields were the leading application segment and accounted for over 58% of the total industry revenue in 2015. Offshore operations are expected to witness the highest growth of 4.0% over the forecast period.
  • The U.S. offshore MPD services industry is estimated to witness the fastest growth over the next eight years to reach a net worth of USD 585 million by 2024. Significant development of offshore oil & gas wells in the Gulf of Mexico along with extremely complicated formations in the region is anticipated to drive managed pressure drilling services demand.
  • North America dominated the global demand accounting for 37.3% of total market revenue in 2015. Technological advancements along with deployment of advanced drilling techniques in complex formations such as tar sands, tight oil, etc. in the U.S. and Canada are key factors for high industry penetration in the region.
  • Africa is estimated to grow at a CAGR of 4.9% from 2016 to 2024 on account of increasing offshore activities in regions of Angola, and Mozambique. Algeria MDP services industry is estimated to reach a net worth of USD 110 million by 2024, at a CAGR of 5.4%.
  • Key market players include operating in the global managed pressure drilling services market include Archer Well services, Baker Hughes, Halliburton, Weatherford International, Schlumberger Limited.
Browse More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/conventional-energy

Grand View Research has segmented the global managed pressure drilling (MPD) services market on the basis of technology and application

Global Managed Pressure Drilling (MPD) Services Technology Outlook (Revenue, USD Million, 2014 - 2024)
  • Mud cap drilling (MCD)
  • Constant bore hole pressure (CBHP)
  • Dual gradient drilling (DGD)
  • Reverse flow control drilling (RFCD)
Global Managed Pressure Drilling (MPD) Services Application Outlook (Revenue, USD Million, 2014 - 2024)
  • Offshore
  • Onshore
Global Managed Pressure Drilling (MPD) Services Regional Outlook (Revenue, USD Million, 2014- 2024)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Norway
    • UK
    • Russia
  • Asia Pacific
    • China
    • Australia
    • India
  • Central & South America
    • Argentina
    • Brazil
  • Middle East
    • Saudi Arabia
    • UAE
    • Kuwait
  • Africa
    • Nigeria
    • Angola
    • Algeria
Access Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-managed-pressure-drilling-mpd-services-market

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

Comments

Post a Comment

Popular posts from this blog

Wave and Tidal Energy Market Set for Rapid Growth By 2025: Grand View Research, Inc.

Image
The global  wave and tidal energy market   size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 42.5% CAGR during the forecast period. Need to reduce dependency on fossil fuels, increasing investments, and supportive government regulations are likely to fuel market growth over the coming years. The renewable energy sector has witnessed significant expansion in terms of installations worldwide in 2016. The capacities in wind, marine, solar, waste-to-energy, small geothermal and hydro sources, and biomass combined added up to 138.5 GW in 2016, up from 127.5 GW in 2015. Investments in electricity generation through novel renewable sources was twice in comparison to fossil fuels. Ocean energy is witnessing significant development in terms of new projects in various economies including U.K., Ireland, Sweden, Portugal, Thailand, India, Japan, China, Canada, and U.S., which is likely to fuel market growth over...
Read more

Well Cementing Services Market Estimated To Reach $11.08 Billion By 2024 | Key Industry Players Schlumberger Ltd., Baker Hughes Inc., Halliburton

San Francisco, 18 December 2018 - The global  well cementing services market  is expected to reach USD 11.08 billion by 2024, according to a new report by Grand View Research, Inc. Rising drilling activities to recover unconventional hydrocarbons such as shale and tight gas coupled with rehabilitation activities in existing oil & gas fields is expected to remain a key driving factor for the global market. A large number of unexplored reserves particularly in Brazil, Russia, and China, coupled with technological advancements in well cementing equipment and services provided by oil service providers is projected to have a positive impact on the market growth in near future. Stringent environmental regulations coupled with low crude oil prices are expected to hindermarket growth over the next eight years. Low crude oil prices are anticipated to support stronger economic growth, but it may hamper growth among energy producing states. Primary cementing was the leading ...
Read more

Electrostatic Precipitator Market Size To Reach $14.97 Billion By 2025 | Key Industry Players Mutares AG., ELEX AG

Image
San Francisco, 30 October 2018 - The global  electrostatic precipitator market  size is projected to be valued at USD 14.97 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.3% over the forecast period. Rising consumer awareness, inclination towards healthy lifestyle, and rise in air pollution are expected to drive the market growth. Rising adoption of air pollution control equipment, coupled with stringent government regulations, is expected to boost the global electrostatic precipitator market by 2025. Industrialization of energy and manufacturing industries is predicted to further enhance business growth over the forecast period. Increasing investments and technological advancements are expected to encourage expansion of the market for electrostatic precipitator in the forthcoming years. Critical air pollution level caused by vehicles and industries coupled with high demand for pollution controllin...
Read more