SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Managed Pressure Drilling Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 1302
Companies: 12 - Players covered include Aker Solutions ASA; Archer; Baker Hughes, a GE company; Blade Energy Partners; Eds Group As (Enhanced Drilling); Ensign Energy Services Inc.; Halliburton; National Oilwell Varco, Inc.; Schlumberger Ltd.; Weatherford International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Technology (Constant Bottom Hole Pressure, Dual Gradient Drilling, Return Flow Control Drilling, Mud Cap Drilling)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Managed Pressure Drilling Services Market to Reach $5.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Managed Pressure Drilling Services estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$5.1 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. Constant Bottom Hole Pressure, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$2.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dual Gradient Drilling segment is readjusted to a revised 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $914.7 Million by 2026
The Managed Pressure Drilling Services market in the U.S. is estimated at US$1.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$914.7 Million by the year 2026 trailing a CAGR of 3.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.
Return Flow Control Drilling Segment to Reach US$534.3 Million by the year 2026
In the global Return Flow Control Drilling segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$347.6 Million in the year 2020 will reach a projected size of US$445.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.