Managed pressure drilling is the process used to control bottom hole pressure, formation fracture pressure and pore pressure in the well. The technology helps the exploration companies mitigate the risks while drilling and reduce downtime. The technology helps in determining the downhole pressure and manages the annular pressure accordingly. Managed pressure drilling system can automatically detect influxes and losses in real time.
Rising deep-water and ultra-deepwater exploration activities is a major factor driving the growth of the global managed pressure drilling market. In 2017, Canada had about 7,550 wells drilled and the explorers required high rate of efficiency to produce oil efficiently, which is increasing the demand for the managed pressure drilling market. Drilling activities in harsh environments are growing at a substantial rate in regions, including Norwegian continental shelf and Indonesia. These factors are further driving the growth of the global managed pressure drilling market.

For the purpose of the study the global managed pressure drilling market has been segmented by technology, tool and application. Based on technology the market has been segmented as constant bottom hole pressure, mud cap drilling, dual gradient drilling, and return flow gradient drilling. Constant bottom hole pressure segment dominated the market in 2017 and is expected to remain dominant during the forecast period as constant bottom hole pressure method is a very common technology used for almost all the drilling wells. Based on tools, the market has been segmented as rotating control device, non-return valve, and choke manifold system. Rotating control device segment dominated the market in 2017 and is expected to hold the largest market share during the forecast period as the rotating control devices are vastly used for pressure management. Based on applications, the market is segmented as onshore and offshore. The offshore segment has been dominating the market in 2017 and is expected to remain dominant during the forecast period. The offshore application has more extensive use of managed pressure drilling techniques as recently there has been a number of offshore discoveries with the decline in crude oil resources and exploration companies looking for oilfields offshore. Based on region, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world.