“The global managed pressure drilling services market exhibits a lucrative growth potential of >10% for the next five years. The growth of this market is propelled by the rise in concerns about safety & environment and the increasing capital expenditure in E&P operations being carried out across the globe. The market is further driven by factors such as increasing cost of traditional drilling operations and day rates of rigs. The high growth potential in emerging markets, increased use of MPD with horizontal drilling for mature wells provides new growth opportunity to players in the MPD services market.
Increasing number of ageing and maturing wells, and successful implementation in deepwater HPHT wells is bound to increase the market of MPD services, slated to be valued about $17 billion by 2019. North America, with its increased focus on technological innovations in oil & gas industry, is expected to experience highest revenue growth during the next five years.
With increasing cost involved in traditional drilling, and also increasing day rates of rental rigs, operators are looking for increased use of MPD services in order to reach target depth as early and safely. North America would be the largest market for MPD services because of the willingness of the companies in the region to take up capital intensive projects, along with the availability of technical expertise in the region.
MPD services, due to their increased use in offshore wells are expected to dominate the global drilling market. Within MPD by technology CBHP is supposed to have the largest marekt. Subsequently in applications, offshore MPD services will dominate the MPD services market.
The report covers the global MPD market in major regions namely Asia-Pacific, Europe, North America, South & Central America, Middle East, and Africa under major technology CBHP, DGD, MCD, RFCD.
This report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. Major companies such as Halliburton (U.S.), MI-SWACO (U.S.), Weatherford International Ltd (Switzerland), and Baker Huges (Canada), etc. have also been profiled in this report.
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