Managed pressure drilling (MPD) services are primarily used for controlling and monitoring wellbore pressures. Maintaining a constant downhole pressure minimizes damage, prevent mud loss, and avoids formation fluid influx. MPD methods mainly use closed systems that deploy a rotating control device (RCD) to divert formation and drilling fluid flow to a separator. MPD includes control of backpressure, circulating friction, fluid density, fluid rheology, and annular fluid level.
Major factors driving growth of the global managed pressure drilling services market are growing energy demand and increasing oil and gas exploration and production activities globally. Additionally, increasing number of bore-well drilling activities, increasing shale gas projects, and increasing demand for innovative technologies for drilling activities are other factors expected to drive growth of the global market over the forecast period.
High procurement and maintenance costs are key factors restraining growth of the global managed pressure drilling services market. In addition, stringent environmental rules and problems associated with use of managed pressure drilling services are other factors expected to hamper growth of the global market over the forecast period.
The global managed pressure drilling services market is segmented on the basis of technology, application, and region. On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Do Inquiry of the Report Here: https://marketresearch.biz/report/managed-pressure-drilling-mpd-services-market/#inquiry
North America market accounted for highest share in terms of revenue in the global market, as compared to that of markets in other regions. This can be attributed to increasing number of deep-water drilling activities and presence of prominent players in countries in the region. The market in Asia Pacific is expected to register considerable growth in the global market over the forecast period, owing to increasing oil and gas exploration activities in emerging economies such as China and India. Also, the market in Middle East is projected to register moderate growth in the target market over the forecast period.
Prominent players in the global managed pressure drilling services market include Weatherford International Ltd., Halliburton Company, Baker Hughes Incorporated, Schlumberger Limited, National Oilwell Varco, L.P., Aker Solutions, Ensign Energy Services Inc., STRATA Energy Services Inc., Blade Energy Partners, Ltd., and Archer.