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The managed pressure drilling market size is expected to reach US$ 7.22 billion by 2031 from US$ 4.85 billion in 2023. The market is estimated to record a CAGR of 5.1% during 2023–2031. The growing adoption of modern drilling equipment for high-pressure and high-temperature wells is likely to bring new trends to the market in the coming years.
Managed Pressure Drilling Market Analysis
The key stakeholders in the managed pressure drilling market ecosystem include raw material suppliers, managed pressure drilling equipment and machinery manufacturers, service providers, and end users. The raw material providers supply various types of materials, including steel and aluminum, to managed pressure drilling equipment and machinery manufacturers for manufacturing managed pressure drillings integrated with different technologies. Constant bottom hole pressure (CBHP), mud cap drilling (MCD), dual gradient drilling (DGD), and return flow control drilling (RFCD) are a few technologies for managed pressure drilling.
Service providers offer managed pressure drilling services to the end users, such as onshore and offshore oil extraction companies. Managed pressure drilling services are being adopted by many companies owing to rising drilling activities and significant investments in oil and gas projects. For instance, in 2024, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that Nigeria has been offered 12 oil blocks in a new licensing round. In 2023, the Nigerian Oil Ministry announced that the award of licenses for seven offshore blocks offered in a 2022 licensing round is likely to be commissioned entirely with the round held in 2024, reserving the combined licenses of 19 oil blocks for capable investors. Similarly, in April 2023, the Oil and Natural Gas Corporation (ONGC) collected US$ 7 billion in investments for the next 3–4 years to support oil and gas production. A few managed pressure drilling equipment and machinery manufacturers are Ensign Energy Services, ADS Services LLC, Archer, Blade Energy Partners, Nabors Industries Ltd, Air Drilling Associates Inc, Halliburton Co, SLB Weatherford International Plc, and NOV Inc.
Managed Pressure Drilling Market Overview
The managed pressure drilling process is used to control the annular pressure levels precisely across the wellbore length by managing the downhole pressure environment. It is an essential technique for drilling wells with narrow pore-pressure and fracture-gradient windows. Ranging from automated to intelligent, the managed pressure drilling systems help enhance safety, lower well construction costs, reduce well control risks, and increase the production of oil and gas. The major application of managed pressure drilling systems is in deep offshore gas and oil wells. The oil and gas extraction process requires cautionary measures as these substances are highly volatile. With a rise in onshore and offshore drilling activities across the globe, the demand for managed pressure drilling equipment is also increasing. For instance, in April 2023, BP commenced oil production at its Argos platform located in the Gulf of Mexico. The Argos platform is a deepwater facility situated ~200 miles south of New Orleans, Louisiana.
The global managed pressure drilling market is segmented into North America, Europe, the Middle East and Africa, and South & Central America. North America is expected to dominate the managed pressure drilling market during the forecast period. This is owing to a rise in oil and gas drilling activities. U.S. Energy Development Corporation (U.S. Energy) aims to expand its operations in the prolific Permian basin, one of the most productive oil and gas areas in the US. Over the next 12 months in 2024, the corporation expects to deploy a capital of US$ 750 million, with the majority of this fund dedicated to projects in the Permian. Furthermore, U.S. Energy has invested, operated, and drilled ~4,000 wells in 13 US states and Canada. Such increasing investment in the oil and gas sector across the US, Canada, and Mexico drives the demand for managed pressure drilling products.
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Managed Pressure Drilling Market: Strategic Insights
Market Size Value in US$ 4,298.97 million in 2021 Market Size Value by US$ 6,004.50 million by 2028 Growth rate CAGR of 4.9% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Managed Pressure Drilling Market: Strategic Insights
| Market Size Value in | US$ 4,298.97 million in 2021 |
| Market Size Value by | US$ 6,004.50 million by 2028 |
| Growth rate | CAGR of 4.9% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Managed Pressure Drilling Market Drivers and Opportunities
Growing Use of Modern Drilling Equipment for High-Pressure and High-Temperature Wells
Many countries are increasingly drilling high-pressure, high-temperature (HPHT) wells. Loss of circulation, stuck pipe, twisting off, kick, or loss scenarios are a few issues associated with drilling activities. A managed pressure drilling system is usually used in the HPHT well drilling activities as the equipment helps resolve these issues by improving penetration rate, avoiding kick or loss, narrowing passage window drilling, managing mud programs, allowing early identification of wellbore ballooning, ensuring high efficiency, and reducing non-productive time. Thus, the growing use of managed pressure drilling techniques for high-pressure, high temperature (HPHT) well drilling is expected to provide significant growth opportunities for managed pressure drilling equipment providers during the forecast period.
Increasing Adoption of Strategic Initiatives to Develop Innovative Products
Several major players are adopting strategies such as mergers, acquisitions, partnerships, and collaboration to develop advanced managed pressure drilling equipment, which is expected to create ample opportunities for the managed pressure drilling market growth during the forecast period. For instance, in September 2024, Seadrill, a Bermuda-based offshore drilling contractor, collaborated with Oil States International, an offshore drilling company headquartered in Texas. This collaboration aims to transform offshore drilling efficiency by adopting managed pressure drilling (MPD) into its mainstream operations. Similarly, in July 2024, Archer signed an agreement with Air Drilling Associates, Inc. to acquire their Managed Pressure Drilling subsidiary, ADA Argentina. The subsidiary offers MPD services to Archer’s customers in the Vaca Muerta basin in Argentina. Managed pressure drilling is an adaptive drilling process that helps control the annular pressure profile precisely throughout the drilled wellbore. Further, ADA owns and operates three MPD systems.
Managed Pressure Drilling Market Report Segmentation Analysis
Key segments that contributed to the derivation of the managed pressure drilling market analysis are technology and application.
- In terms of technology, the market is categorized into constant bottom hole pressure, mud cap drilling, dual gradient drilling, and return flow control drilling. The constant bottom hole pressure segment dominated the market in 2023.
Based on application, the market is divided into onshore and offshore. The onshore segment dominated the market in 2023.
Managed Pressure Drilling Market Share Analysis by Geography
The managed pressure drilling market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Asia Pacific and the Middle East and Africa.
The managed pressure drilling market in the Middle East and Africa (MEA) market is projected to proliferate owing to increasing investments in the oil and gas sector. The oil & gas sector contributes a substantial share of the GDP of these countries. In 2024, Abu Dhabi National Oil Company (ADNOC) has planned to invest more than US$ 13 billion between 2024 and 2029 for the LNG gas exploration expansion. In 2023, Aramco’s, an oil and gas company in the Middle East, total capital investments totaled US$ 49.7 billion, an increase of 28% compared to 2022. In 2024, the company's capital investments are expected to reach between US$ 48 billion and US$ 58 billion. The boost in per capita income, recovering economic conditions, and government spending on infrastructure development are among the factors contributing to the demand for managed pressure drilling services. Oil and gas production is one of the prominent businesses in the region. Saudi Arabia, Libya, Iran, the UAE, and Qatar are a few countries that have witnessed growth in the oil business. Despite the slowdown in economic growth and substantial macroeconomic imbalances from lower oil prices in the last few years, oil and gas-producing countries in the MEA are focusing on achieving greater oil and gas production by partnering with foreign firms to scale up their activities at huge offshore and onshore oil and gas fields.
Managed Pressure Drilling Market Report Scope
Managed Pressure Drilling Market News and Recent Developments
The managed pressure drilling market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the key developments in the managed pressure drilling market are listed below:
- Nabors Industries Ltd and SLB announced a collaboration to scale the adoption of automated drilling solutions for oil and gas operators and drilling contractors. The agreement will enable customers to seamlessly integrate the companies’ drilling automation applications and rig operating systems to deliver improved well construction performance and efficiency.
(Source: Nabors Industries Ltd, Press Release, January 2024)
- Halliburton Company and Oil States Industries, Inc. announced a strategic collaboration that combines two award-winning technology sets to provide customers with innovative deepwater managed pressure drilling (MPD) solutions.
(Source: Halliburton, Press Release, November 2023)
Managed Pressure Drilling Market Report Coverage and Deliverables
The "Managed Pressure Drilling Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- Managed pressure drilling market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Managed pressure drilling market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Managed pressure drilling market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the managed pressure drilling market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Growing use of modern drilling equipment for high-pressure and high-temperature wells is expected to be the key opportunity in the market.
Ensign Energy Services; ADS Services, LLC; CATL; Archer; Blade Energy Partners; Nabors Industries Ltd; Air Drilling Associates, Inc; Halliburton Co; Ameresco Inc.; ESS, Inc.; SLB; Weatherford International Plc; NOV Inc. are the key market players operating in the Global Managed Pressure Drilling Market.
The rise in onshore and offshore drilling activities is contributing to the growth of the Global Managed Pressure Drilling Market.
Proliferation of Industry 4.0 to stimulate the Global Managed Pressure Drilling Market growth in the coming years.
Constant Bottom Hole Pressure is expected to dominate the market over the forecast period.
The List of Companies - Managed Pressure Drilling Market
- Ensign Energy Services
- ADS Services, LLC
- Archer
- Blade Energy Partners
- Nabors Industries Ltd
- Air Drilling Associates, Inc
- Halliburton Co
- SLB
- Weatherford International Plc
- NOV Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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