Managed Pressure drilling Market Analysis

Global Managed Pressure Drilling Market Overview

The managed pressure drilling market Size was valued at USD 5895.05 Million in 2024. The managed pressure drilling market is projected to grow USD 8,314.8 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.39% during the forecast period (2024 - 2032). The market analysis and the global trends suggest that with the rising deep water and ultra-deep-water exploration and drilling operations will drive the market during the forecast period.

Managed pressure drilling (MPD) is an adaptive drilling process. It is used to precisely control the annular pressure profile throughout the wellbore. The main idea behind the MPD process is to create a pressure profile in the well to stay within close tolerances and close to the boundary of the operation envelope defined by the pore pressure, hole stability envelope and fracture pressure. MPD uses many tools to attenuate the risks and costs associated with drilling wells by managing the annular pressure profile. These techniques include controlling backpressure, fluid density, fluid rheology, annular fluid level, circulating friction, and hole geometry in any combination.

Rise in deep water and ultra-deep-water exploration and drilling operations id driving the demand of Managed Pressure Drilling. The oil and gas extraction and exploration industries are the prime drivers of the managed pressure drilling market growth, which pushes the market growth to optimum limits over the years. The increasing drilling activities in deep seas and ultra-deep seas for oil and gas extraction and exploration result in expanding the managed pressure drilling market size. The managed pressure drilling industry enables exploration and extraction activities that are difficult to perform in nature and allows drilling offshore projects which have many technical constraints. The oil and gas drilling activities include certain cautionary measures as these substances are highly volatile and therefore require managed pressure drilling systems that are efficient and safe. These features encourage increasing the market value.

managed pressure drilling market  Trends

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  Rising Deep Water and Ultra-Deep-Water Exploration and Drilling Operations

  
  

The oil and gas extraction and exploration industries are the prime drivers of the managed pressure drilling market  growth, which pushes the market growth to optimum limits over the years. According to World Energy & Climate Statistics Yearbook 2023, In 2022, global crude oil production increased by a record 5.4% rate, much above its 2021 growth (+1.6%) . The increasing drilling activities in deep seas and ultra-deep seas for oil and gas extraction and exploration result in expanding the managed pressure drilling market  size.

The existing wells are depleting day by day, and therefore, it requires new locations. These new locations are extremely critical to operating as they are mostly found in deep seas. The managed pressure drilling industry facilitates advanced extraction and drilling technologies that enable companies to execute difficult tasks. According to U.S. Energy Information Administration, global liquid fuels production was increased from 95.71 million barrels/day in 2021 to 99.94  million barrels/day in 2022. The managed pressure drilling industry enables exploration and extraction activities that are difficult to perform in nature and allows drilling offshore projects which have many technical constraints. The oil and gas drilling activities include certain cautionary measures as these substances are highly volatile and therefore require managed pressure drilling systems that are efficient and safe. MPD is becoming go-to solution and in some cases necessity to cater the increasing demands and challenges of the drilling industry, both onshore and offshore.

Rising Technical Developments for Drilling High-Pressure High-Temperature (HPHT) Wells

Drilling under HPHT conditions requires specialised equipment and proper tools. Drilling a HPHT well is a unique challenge combining technical and commercial elements. MPD technique was originated as a solution to “undrillable “wells, currently wells of all types can use the technique to manage critical downhole pressure more effectively, leading to improved drilling efficiency and enhanced safety. Managed Pressure Drilling is a safer and more effective drilling technique compared to conventional drilling, especially in wells with NMWW (Narrow Mud weight Window) and downhole hazards. Research paper published in SPE/IADC Middle East Drilling Technology Conference and Exhibition in May 2021, stated that there was a successful application of MPD technology to reach target depth (TD) in a narrow margin HPHT well in the North Sea.

Modern technological advancements for high-pressure, high-temperature (HPHT) drilling of wells will continue to drive the market during the forecast period (2023-2032) The drilling activities are extremely critical to perform as it raises a lot of problems such as loss of circulation, twisting off, stuck pipe, kick or loss scenarios, and many more. The market acts as a helping hand in resolving all these issues and advantages in improved penetration rate, narrow passage window drilling, avoid kick or loss, managing mud programs, wellbore ballooning early identification, less casing number, high efficiency, and less non-productive time. According to Journal of Petroleum technology, integrating MPD into HPHT drilling operation can offer significant operational benefit.

Automated Managed Pressure Drilling services offers a solution to mitigate many of the critical risks associated with HPHT drilling and thereby reduce drilling costs. Volume control is a major component of well control alongside keeping the bottom-hole pressure constant. With this advantage, MPD is available on all rig types ranging from Land Rigs, Jack Up Rigs, Semi-Submersibles, Tender Rigs and Dynamically Positioned drill Ships. Rising technical developments for drilling high-pressure high-temperature (HPHT) wells will escalate the managed pressure drilling growth during forecast period.

managed pressure drilling market  Segment Insights

managed pressure drilling market  By Technology Insights

The managed pressure drilling market  has been segmented into Constant Bottom Hole Pressure (CBHP), Mud Cap Drilling (MCD), Dual Gradient Drilling (DGD), and Return Flow Control Drilling (RFCD). In 2022, the CBHP segment drove the managed pressure drilling market  by holding a substantial market share of 69.64% with a market value of USD 627.2 million. It is projected to register a CAGR of 21.29% during the projected timeframe.

managed pressure drilling market  by Tool Insights

Based on Tool, the Managed pressure drilling market  has been segmented into Rotating Control Device, Non-Return Valves, Choke Manifold Systems. In 2022, the rotating control device drove the managed pressure drilling market  by holding a substantial market share of 61.1% with a market value of USD 3,329.3 million. It is projected to register a CAGR of 5.7% during the projected timeframe.

managed pressure drilling market  by Application Industry Insights

Based on Application industry, the Managed pressure drilling market  has been segmented into Onshore, Offshore. In 2022, the offshore segment drove the managed pressure drilling market  by holding a substantial market share of 65.9% with a market value of USD 3,587.5 million. It is projected to register a CAGR of 4.5% during the projected timeframe.

managed pressure drilling market  Regional Insights

By region, the global market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East & Africa. Among these, the North America emerged as the leading segment with a share of 47.9%. The segment is projected to reach a value of USD 2,609.5 million by the end of the forecast period and the region also witnessed the fastest segment with a healthy CAGR of 4.7%.

Managed pressure drilling Key Market Players & Competitive Insights

The global managed pressure drilling market is characterized by the presence of many regional and local players. The market is highly competitive, with all the players continually competing to gain a larger market share. The demand for managed pressure drilling services is increasing substantially from the oil & gas industry. As the global demand for energy continues to grow, there is a constant need for the exploration and production of oil and natural gas resources. Managed pressure drilling is a key stage in the drilling process that prepares the well for production, making it a fundamental aspect of oil and gas operations. Managed pressure drilling techniques play a significant role in optimizing reservoir performance. Companies are looking to maximize production rates, improve recovery factors, and effectively manage reservoir pressure, driving the demand for innovative managed pressure drilling technologies.

The growth of the vendors is dependent on market conditions, government support, and industrial development. Thus, the vendors should focus on expanding their presence and improving their services. Halliburton, Schlumberger, and Weatherford are some of the key players operating in the global market. These companies compete in terms of availability, quality, price, and technology. They consider product development as their key strategy in the global managed pressure drilling market. 

Additionally, the companies are following both organic and inorganic strategies to strengthen their presence in the global market. They are focusing on acquisitions and agreements to diversify their service offerings along with enhancing their customer relationship. Additionally, companies are also adopting various business development strategies that will further help in growing their business.

Companies adopt various strategies to achieve leading market positions in Managed pressure drilling market, or to retain and/or expand their market share. The key strategies followed by most companies within the global expansions market were followed by the merger and acquisition.

Key Companies in the managed pressure drilling market  includes:

• Air Drilling Associates (US)


• Ensign Energy Services (Canada)


• Enhanced Drilling Services (Norway)


• Schlumberger Limited (US)


• Halliburton Inc (US)


• Weatherford International (US)


• National Oilwell Varco (US)


• Nabors Industries Limited (Bermuda)


• Oilserv (UAE)


• AFGlobal (US) and Beyond Energy (US)

Managed pressure drilling Industry Developments

February 2022: NOV's MPD packages is a leader in drilling technology, will offer add-on services including NOVOS and real-time monitoring, which delivers full rig integration and removing the guesswork from operations. Additionally, the company’s full MPD system will be integrated with its wired pipe and Max platform, that will creates the world's most complete automated drilling package and allowing the operator to adjust in real-time, improving the overall well construction process. 

February 2023: Donaldson Company Inc announced the acquisition of Isolere Bio, Inc. (Isolere), a Choke Manifold Systems company that is engaged in the development of proprietary IsoTag reagents as well as accompanying Rotating Control Device processes for the purification Tools and for streamlined manufacturing of bioOnshore. This acquisition will help the Donaldson Company Inc to strengthen its technological capabilities.

August 2022: Schlumberger, Aker Solutions and Subsea 7 had announced an agreement to form a joint venture to drive innovation and efficiency in subsea production by helping its customers to unlock reserves and reduce cycle time. The agreement will bring together a portfolio of innovative technologies such as subsea gas compression, all-electric subsea production systems and other electrification capabilities that help customers meet their decarbonization goals.

Managed pressure drilling Segmentation

Managed pressure drilling Technology Outlook

• Constant Bottom Hole Pressure (CBHP)


• Dual Gradient Drilling (DGD)


• Mud Cap Drilling (MCD)


• Return Flow Control Drilling (RFCD)

Managed pressure drilling Tool Outlook

• Rotating Control Device


• Non-Return Valves


• Choke Manifold Systems

Managed pressure drilling Application Industry Outlook

• Onshore


• Offshore

Managed pressure drilling Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • Russia
  
  
  • UK
  
  
  • Italy
  
  
  • France
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Rest of Asia Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • RoMEA
  
  
  • South America
  
  
  
  


• Brazil
  
  
  
  • Argentina
  
  
  • Rest of South America