DUBLIN, Jan. 22, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/lgrnqn/managed_pressure) has announced the addition of the "Managed Pressure Drilling Services Market by Technology, by Application and by Geography - Global Trends and Forecasts to 2019" report to their offering.
MPD Managed Pressure Drilling (MPD) is an adaptive drilling process used to precisely control the annular pressure profile throughout the wellbore. The objectives are to ascertain the downhole pressure environment limits and to manage the annular hydraulic pressure profile accordingly.
The global MPD services market is projected grow on account of rising offshore development activities, increasing energy demands in emerging economies, rising capital expenditure in E&P operations, and rising sub-sea construction activities. The MPD services market will grow from an estimated $11.4 Billion in 2014 to $16.9 Billion by 2019 with a CAGR of 8.2% from 2014 to 2019, owing to the increase in the use of MPD technology in drilling HPHT wells, globally.
North America holds major market share followed by South & Central America. In terms of country-level scenario, the market is dominated by U.S. on account of increasing number of deep water offshore wells due to which demand for MPD services is increasing.
Due to rising energy demand and redevelopment of mature oilfield wells, the demand for MPD is high even in Asia-Pacific and Europe. China and Russia are big markets for the MPD service providers. Increased offshore activities in the Gulf of Mexico and E&P activities in South & Central American countries such as Brazil, Venezuela and Mexico is increasing the demand for MPD services in the region.
By application, offshore MPD is estimated to dominate the market in terms of growth rate. The Americas currently lead the offshore MPD market in terms of market value. Because, of the high cost of the technology it is mainly used in offshore applications only. The use of MPD for onshore wells is very rare and is used with horizontal drilling for extracting oil & gas from matured wells. With respect to market by technology, CBHP and DGD are leading in terms of market share because of the various applications of the technologies in drilling.
MPD service is a growing market, due to the increasing investments by E&P companies and the expectations of oil price hike in the long run. This can be seen from the strategies adopted by the key players operating in this industry. Companies are looking forwarding to investing in different countries and expanding their businesses.
The top five companies in the MPD services industry include Halliburton (U.S.), Schlumberger (U.S.), Baker Hughes (U.S.), Aker Solutions (Norway), NOV (U.S.).
Key Topics Covered:
2 Executive Summary
3 Research Methodology
4 Premium Insights
5 Market Overview
6 Industry Trends
7 MPD Services Market, By Application
8 Managed Pressure Drilling Services, By Technology
9 MPD Services, By Region
10 Company Profiles
11 Competitive Landscape
- Aker Solutions
- Baker Hughes Inc.
- Blade Energy Partners
- Enhanced Drilling (EDS Group)
- Ensign Energy Services Inc.
- M-I Swaco (A Schlumberger Company)
- National Oilwell Varco
- Strata Energy Services Inc.
- Weatherford International Limited
For more information visit http://www.researchandmarkets.com/research/lgrnqn/managed_pressure
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets