Middle East and Africa Managed Pressure Drilling Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology [Constant Bottom Hole Pressure (CBHP), Mud Cap Drilling (MCD), Dual Gradient Drilling (DGD), and Return Flow Control Drilling (RFCD)] and Application (Onshore and Offshore)
Market Introduction
The managed pressure drilling market in the Middle East & Africa is further segmented into South Africa, the UAE, Saudi Arabia, and the rest of Middle East & Africa. The region is projected to have a rapid rise in urbanization and industrialization, which would further drive the growth of the regional economy. Gulf countries are economically advanced, while the African countries are yet to match their economic status. Similarly, the boost in per capita income, recovering economic conditions, and government spending on infrastructure development are among the factors contributing to the demand for managed pressure drilling operations. Oil & gas production is one of the prominent businesses in the region. Saudi Arabia, Libya, Iran, the UAE, and Qatar are a few countries that have seen growth in the oil business. Despite the slowdown in economic growth and substantial macroeconomic imbalances from lower oil prices in the last few years, oil & gas producing countries in the Middle East & Africa are focusing on achieving greater oil & gas production by partnering with foreign firms to scale-up their activities at huge offshore and onshore oil & gas fields. The oil & gas sector contributes a substantial share to the gross domestic product (GDP) of these countries. A few of the key managed pressure drilling manufacturers present in the Middle East & Africa are Blade Energy Partners, Ltd.; Nabors Industries Ltd.; Schlumberger Limited; and Weatherford International plc. These manufacturers provide managed pressure drillings products and services for several applications, including offshore and onshore operations.
The Middle East & Africa comprises South Africa, the UAE, Saudi Arabia, and other countries. South Africa recorded the highest number of COVID-19 cases in the Middle East & Africa region, followed by Saudi Arabia and the UAE. Further, the Middle East & Africa region, especially the Gulf Cooperation Council (GCC) countries, witnessed a notable decline in their oil sector, owing to a sharp decline in demand for oil from major end-user countries across Asia, Europe, and North America. As a result, the countries registered a lowered volume of oil production and construction of oil-related projects, which subsequently decreased the demand for managed pressure drilling. Countries such as Saudi Arabia, the UAE, Qatar, and selected other members of the Organization of the Petroleum Exporting Countries (OPEC) also observed similar trends during the early months of the outbreak. Hence, the region also witnessed a significant decline in demand for managed pressure drillings during the first quarter of 2020. However, in 2021, with the relaxation of lockdown measures and resumption of MPD equipment & machinery manufacturing, the managed pressure drilling market in the Middle East & Africa region is anticipated to grow.
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Market Overview and Dynamics
The managed pressure drilling market in Middle East & Africa is expected to grow from US$ 621.33 million in 2021 to US$ 849.76 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028. Rising use of modern drilling equipment for high-pressure, high-temperature wells; elevation of use of modern technology for high-pressure, high-temperature (HPHT) wells drilling is creating an opportunity for using managed pressure drilling equipment. The drilling activities associates with many problems, including loss of circulation, stuck pipe, twisting off, kick, or loss scenarios. Thus, the advanced drilling equipment are used for safer drilling environment. Further, the number of high-pressure, high-temperature (HPHT) wells has been rising year on year, and many more are planned for the near future. Extreme conditions in these wells trigger the potential for disaster and further minimize the margin of error. Managed pressure drilling is usually used in the HPHT well drilling activities as the equipment helps resolve these issues by improving penetration rate, avoiding kick or loss, narrowing passage window drilling, managing mud programs, allowing early identification of wellbore ballooning, ensuring high efficiency, and reducing non-productive time. Thus, the suitability of managed pressure drilling technique for high-pressure, high-temperature (HPHT) well drilling is providing significant growth opportunities for the managed pressure drilling equipment providers, which in turn driving the Middle East & Africa managed pressure drilling market.
Key Market Segments
Middle East & Africa managed pressure drilling market is segmented into technology, application, and country. Based on technology, the managed pressure drilling market is segmented into constant bottom hole pressure (CBHP), mud cap drilling (MCD), dual gradient drilling (DGD), and return flow control drilling (RFCD). Return Flow Control Drilling (RFCD) is expected to the fastest growing segment over the forecast period. Based on application, the managed pressure drilling market is bifurcated into onshore and offshore. The offshore segment accounts for largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the managed pressure drilling market in Middle East & Africa are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Air Drilling Associates, Inc.; Archer; Blade Energy Partners; Ensign Energy Services; Halliburton Energy Services, Inc; Nabors Industries Ltd; NOV Inc; Schlumberger Limited; and Weatherford International plc among others.
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- To understand the Middle East & Africa managed pressure drilling market landscape and identify market segments that are most likely to guarantee a strong return
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MIDDLE EAST & AFRICA MANAGED PRESSURE DRILLING MARKET SEGMENTATION
- Constant Bottom Hole Pressure (CBHP)
- Mud Cap Drilling (MCD)
- Dual Gradient Drilling (DGD)
- Return Flow Control Drilling (RFCD)
- Onshore
- Offshore
By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Company Profiles
- Air Drilling Associates, Inc.
- Archer
- Blade Energy Partners
- Ensign Energy Services
- Halliburton Energy Services, Inc
- Nabors Industries Ltd
- NOV Inc
- Schlumberger Limited
- Weatherford International plc
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Managed Pressure Drilling Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 MEA
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Managed Pressure Drilling Market Key Market Dynamics
5.1 Market Drivers
5.1.1 Continuous Surge in Onshore and Offshore Drilling Activities
5.2 Market Restraints
5.2.1 Volatility of Crude Oil Prices
5.3 Market Opportunities
5.3.1 Rising Use of Modern Drilling Equipment for High-Pressure, High-Temperature Wells
5.4 Future Trends
5.4.1 Proliferation of Industry 4.0
5.5 Impact Analysis of Drivers and restraints
6. Managed pressure drilling MEA Market Analysis
6.1 Managed Pressure Drilling MEA Overview
6.2 MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
7. MEA Managed Pressure Drilling Market Analysis By Technology
7.1 Overview
7.2 MEA Managed Pressure Drilling Market Breakdown, by Technology, 2020 & 2028
7.3 Constant Bottom Hole Pressure (CBHP)
7.3.1 Overview
7.3.2 Constant Bottom Hole Pressure (CBHP): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
7.4 Mud Cap Drilling (MCD)
7.4.1 Overview
7.4.2 Mud Cap Drilling (MCD): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
7.5 Dual Gradient Drilling (DGD)
7.5.1 Overview
7.5.2 Dual Gradient Drilling (DGD): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
7.6 Return Flow Control Drilling (RFCD)
7.6.1 Overview
7.6.2 Return Flow Control Drilling (RFCD): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
8. MEA Managed Pressure Drilling Market Analysis By Application
8.1 Overview
8.2 MEA Managed Pressure Drilling Market, By Application (2020 and 2028)
8.3 Onshore
8.3.1 Overview
8.3.2 Onshore: MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
8.4 Offshore
8.4.1 Overview
8.4.2 Offshore: MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
9. MEA Managed Pressure Drilling Market Country Analysis
9.1 MEA Managed Pressure Drilling Market Revenue and Forecast to 2028
9.1.1 Overview
9.1.2 MEA Managed Pressure Drilling Market Breakdown, By Country
9.1.2.1 UAE Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
9.1.2.1.1 UAE Managed Pressure Drilling Market Breakdown, By Technology
9.1.2.1.2 UAE Managed Pressure Drilling Market Breakdown, By Technology
9.1.2.2 Saudi Arabia Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
9.1.2.2.1 Saudi Arabia Managed Pressure Drilling Market Breakdown, By Technology
9.1.2.2.2 Saudi Arabia Managed Pressure Drilling Market Breakdown, By Application
9.1.2.3 South Africa Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
9.1.2.3.1 South Africa Managed Pressure Drilling Market Breakdown, By Technology
9.1.2.3.2 South Africa Managed Pressure Drilling Market Breakdown, By Application
9.1.2.4 Rest of MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
9.1.2.4.1 Rest of MEA Managed Pressure Drilling Market Breakdown, By Technology
9.1.2.4.2 Rest of MEA Managed Pressure Drilling Market Breakdown, By Application
10. Impact of COVID-19 Pandemic on MEA Managed Pressure Drilling Market
10.1 MEA: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Ensign Energy Services
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Archer
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Blade Energy Partners
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nabors Industries Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Air Drilling Associates, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Halliburton Energy Services, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Schlumberger Limited
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Weatherford International plc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 NOV Inc.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. About The Insight Partners
13.1 Word Index
LIST OF TABLES
Table 1. MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
Table 2. UAE Managed Pressure Drilling Market Revenue and Forecast to 2028 By Technology (US$ Mn)
Table 3. UAE Managed Pressure Drilling Market Revenue and Forecast to 2028 By Technology (US$ Mn)
Table 4. Saudi Arabia Managed Pressure Drilling Market Revenue and Forecast to 2028 By Technology (US$ Mn)
Table 5. Saudi Arabia Managed Pressure Drilling Market Revenue and Forecast to 2028 By Application (US$ Mn)
Table 6. South Africa Managed Pressure Drilling Market Revenue and Forecast to 2028 By Technology (US$ Mn)
Table 7. South Africa Managed Pressure Drilling Market Revenue and Forecast to 2028 By Application (US$ Mn)
Table 8. Rest of MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 By Technology (US$ Mn)
Table 9. Rest of MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 By Application (US$ Mn)
Table 10. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Managed Pressure Drilling Market Segmentation
Figure 2. MEA Managed Pressure Drilling Market Segmentation By Country
Figure 3. MEA Managed Pressure Drilling Market Overview
Figure 4. MEA Managed Pressure Drilling Market, By Technology
Figure 5. MEA Managed Pressure Drilling Market, By Application
Figure 6. MEA Managed Pressure Drilling Market, By Country
Figure 7. MEA PEST Analysis
Figure 8. MEA Managed Pressure Drilling Market Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. MEA Managed Pressure Drilling Market Impact Analysis of Drivers and Restraints
Figure 11. MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
Figure 12. MEA Managed pressure drilling Market Breakdown, by Technology (2020 and 2028)
Figure 13. Constant Bottom Hole Pressure (CBHP): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028(US$ Million)
Figure 14. Mud Cap Drilling (MCD): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028(US$ Million)
Figure 15. Dual Gradient Drilling (DGD): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028(US$ Million)
Figure 16. Return Flow Control Drilling (RFCD): MEA Managed Pressure Drilling Market Revenue and Forecast to 2028(US$ Million)
Figure 17. MEA Managed Pressure Drilling Market Revenue Share, by Application (2020 and 2028)
Figure 18. Onshore: MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Offshore: MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. MEA Managed Pressure Drilling Market Revenue by Country to 2028 (US$ Mn)
Figure 21. MEA Managed Pressure Drilling Market Breakdown, By Country, 2020 & 2028(%)
Figure 22. UAE Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
Figure 23. Saudi Arabia Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
Figure 24. South Africa Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
Figure 25. Rest Of MEA Managed Pressure Drilling Market Revenue and Forecast to 2028 (US$ Mn)
Figure 26. Impact of COVID-19 Pandemic in MEA Country Markets
2. Archer
3. Blade Energy Partners
4. Ensign Energy Services
5. Halliburton Energy Services, Inc
6. Nabors Industries Ltd
7. NOV Inc
8. Schlumberger Limited
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Middle East & Africa Managed Pressure Drilling Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the Managed Pressure Drilling market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution