New Market Report: Managed Pressure Drilling Services Market - Global Trends and Forecasts to 2021

Managed Pressure Drilling Services Market by Technology (Constant Bottom Hole Pressure, Dual Gradient Drilling, Mud Cap Drilling, Return Flow Control Drilling, by Application (Onshore & Offshore) and by Region - Global Trends and Forecasts to 2021

"The managed pressure drilling services market is expected to grow at a CAGR of 3.8% during the forecast period"

The global managed pressure drilling services market is estimated to be at USD 3.81 billion in 2016, and is projected to reach USD 4.60 billion by 2021, at a CAGR of 3.8% from 2016 to 2021. Managed pressure drilling services are primarily used to control wellbore pressure. The growing energy demand coupled with the maturing onshore oilfields is leading to the requirement for new oil & gas discoveries. Regions such as Africa and Latin America have emerged as attractive prospects for offshore E&P activities, due to their vast unexplored hydrocarbons reserves.

Full Report Details at
- http://www.fastmr.com/prod/1157692_managed_pressure_drilling.aspx?afid=301

The offshore application of the managed pressure drilling services market is growing at a rapid pace

In terms of application, the offshore segment is expected to have the fastest market growth during the forecast period as managed pressure drilling is preferred in offshore more than onshore because of the high-cost associated with managed pressure drilling. The growth in offshore exploration & recent discoveries in countries such as Angola, Nigeria, and Saudi Arabia and increase in deepwater & ultra deepwater explorations have also contributed to the growth of the market.

North America would continue to dominate the managed pressure drilling services market, but Africa would have the highest growth rate by 2021

Towards the end of 2015, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field in Gulf of Mexico. Offshore drilling activities in the Gulf of Mexico are one of the major reasons for North America being the largest user of managed pressure drilling services. Meanwhile, discovery of new oil & gas reserves in offshore Africa is one of the major reasons behind the growth of the African market, which is expected to grow at the highest rate among all regions. The presence of international oil companies such as Royal Dutch Shell (The Netherlands), British Petroleum (U.K.), and ENI SPA (Italy) among others has brought in technical expertise into the region. Countries such as Angola, Nigeria, Tanzania, and Mozambique are believed to contain some of the largest offshore reserves in the world.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, and C-level executives of key market players and industry consultants among other experts to obtain & verify critical qualitative & quantitate information as well as assess future market prospects. Distribution of primary interviews is as follows:

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Oilfield Services Market - Global trends & Forecast to 2020
- South & Central American Drilling Services Market - Regional Trends & Forecasts to 2019
- South American Oilfield Services Market - Trends and forecasts to 2019
- Europe Drilling Services Market - Trends & Forecasts To 2019
- Coiled Tubing Market - Global Trends & Forecasts to 2020