Managed Pressure Drilling Services Market worth $16.9 Billion by 2019, Says the New Study on ASDReports

Friday 23 January 2015, Amsterdam

The report now available on ASDReports defines and segments the market with regional forecast and segment revenue estimates through to 2019.

Top market players from the industry segment have been studies in order to track developments, technologies and other key business strategies that define the protective relay market environment. 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.

North America: The largest market for Managed Pressure Drilling Services market

The North-America region holds the largest market for MPD services, driven largely by availability of huge capital and advanced technology required for MPD services. Also, the use of MPD with horizontal drilling, has helped to extract oil & gas from mature wells, increasing the market for MPD in the region.

Offshore MPD services: Biggest market by application

MPD was first applied in offshore wells to reach the target. MPD systems in marine risers below sea level provide a flexible solution that enhances drilling capabilities in difficult formations and improve safety and efficiency through early kick detection, riser gas handling. MPD also made drilling wells in difficult deepwater and high-pressure, high-temperature (HPHT) wells easier. As, there is very limited pre-drill information, and the potential for severe kick/loss conditions is very high in offshore drilling MPD is extensive used in offshore drilling by operators. This is a major driver of the offshore MPD services market. Top players of the MPD services market are Weatherford (Ireland), MI- SWACO (U.S.), and Halliburton (U.S.).