Global Managed Pressure Drilling Services Market is valued approximately at USD 2.19 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.20% over the forecast period 2020-2027. Managed pressure drilling is referred as a drilling process which is used to efficiently control the annual pressure profile all over the wellbore. It provides closed-loop circulation system which manages and balanced pore pressure, formation fracture pressure and a bottom hole pressure in the wellbore. Due to such features of managed pressure drilling services, the market is expected to grow over the forecast years with rapid growth in oil & gas industries. For instance: According to International Energy Agency, the global crude oil production accounted for 80,622,000 barrel per day (b/d) in the year 2019. United states was also the leading producer of crude oil among both developed and developing nations. According to International Energy Agency, the crude oil production accounted for about 10.99 million barrel per day (b/d) in the year 2018 which rose to around 12.33 million barrel per day (b/d) in the year 2019 registering a growth of about 11%. Managed pressure drilling is gaining application in oil & gas extraction plants to improve wellbore stability, improve rate of penetration while drilling and reducing influx & looses. In addition, need for optimized drilling operation is expected to propel the growth of market. However, high cost of managed pressure drilling services is the factor hampering the market growth.

The regional analysis of global Managed Pressure Drilling Services Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in production of crude oil in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing number of mature wells would create lucrative growth prospects for the Managed Pressure Drilling Services Market across Asia-Pacific region.

Major market player included in this report are:
Weatherford International Limited
Halliburton Company
Baker Hughes Inc.
Schlumberger Limited
National Oilwell Varco
Archer Limited
Aker Solutions
Ensign Energy Services Inc.
Eds Group as
Strata Energy Services Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology Type offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Technology Type:
Lithium Ion (Li-ion) Batteries
Lead-acid Batteries
Others

By Application:
Offshore
Onshore

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027

Target Audience of the Global Managed Pressure Drilling Services Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors