PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1933214
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1933214
The global managed pressure drilling (MPD) market is witnessing steady growth, driven by increasing exploration activities, rising offshore investments, and the growing complexity of drilling operations worldwide. According to Fortune Business Insights, the global managed pressure drilling market size was valued at USD 3.51 billion in 2025. The market is projected to grow from USD 3.69 billion in 2026 to USD 5.14 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 4.23% during the forecast period. In 2025, North America dominated the market with a share of 38.44%, supported by strong shale gas drilling activities and technological adoption.
Managed pressure drilling is an advanced drilling technique that precisely controls the annular pressure profile throughout the wellbore. MPD enables operators to drill safely within narrow pressure windows, improve wellbore stability, reduce non-productive time, and enhance kick detection and management. Owing to its ability to manage bottom-hole pressure effectively, MPD is increasingly deployed across both onshore and offshore drilling operations.
Market Trends
One of the key trends shaping the managed pressure drilling market is favorable government initiatives aimed at meeting rising oil and gas demand. Governments across multiple regions are investing heavily in new oil and gas exploration projects to strengthen energy security. For instance, in 2020, Egypt announced an investment of USD 1.4 billion for oil and gas exploration across the Mediterranean Sea and the Red Sea, involving the drilling of 23 new wells. MPD plays a crucial role in such projects by enabling precise pressure control during drilling operations.
Additionally, the rise in shale gas drilling activities is significantly contributing to market growth. Shale gas exploration requires advanced drilling technologies due to complex geological formations. According to the IEA, global shale gas reserves amount to approximately 16,103 trillion cubic feet, with China emerging as the largest producer. The growing number of unconventional wells worldwide continues to boost demand for MPD services.
Market Growth Factors
Discoveries of New Oil Fields to Drive Market Growth
Rising investments in discovering new oil and gas fields to meet growing global energy demand are key growth drivers. Continuous geological surveys, wildcat drilling, and offshore exploration are creating strong demand for advanced drilling solutions such as MPD. For example, in October 2020, Odfjell Drilling secured a 15-well contract from Equinor for its Breidablikk project in the North Sea, highlighting the increasing adoption of advanced drilling technologies.
Increased Offshore Investment to Support Market Expansion
Offshore oil and gas production is expected to grow rapidly due to substantial untapped hydrocarbon reserves beneath the seabed. According to the World Investment Report, global investment in offshore oil and gas projects increased from USD 61.5 billion in 2018 to USD 93.3 billion in 2019, driving demand for drilling services and MPD technologies.
Restraining Factors
Despite favorable growth prospects, the market faces challenges due to the rising adoption of renewable energy technologies. Several governments are setting ambitious renewable energy targets to reduce carbon emissions and limit dependence on fossil fuels. This transition toward low-emission energy sources may restrain long-term growth of drilling-related services, including MPD.
By technology, the market is segmented into Constant Bottom-Hole Pressure (CBHP), Pressurized Mud-Cap Drilling (PMCD), and Dual Gradient (DG). The CBHP segment dominated the market with a share of 47.43% in 2026, owing to its effectiveness in drilling depleted reservoirs with narrow pressure windows.
Based on application, the market is divided into onshore and offshore. The onshore segment accounted for the largest share, supported by higher onshore exploration activities and the fact that onshore operations contribute 81.84% of global oil and gas production.
North America led the market with a valuation of USD 1.35 billion in 2025, driven by rising shale gas production and increasing unconventional drilling activities. The U.S. market is projected to reach USD 1.12 billion by 2026.
Asia Pacific is the fastest-growing region due to increasing exploration investments in China and India. The China market is projected to reach USD 0.88 billion by 2026, while India is expected to reach USD 0.075 billion.
Middle East & Africa holds significant growth potential due to OPEC-led production targets and ongoing drilling activities. Europe is witnessing growth driven by shale exploration in Russia and surrounding regions, while Latin America is benefiting from deepwater drilling projects in Brazil and Mexico.
Key Industry Players
Major companies operating in the managed pressure drilling market include Halliburton, Schlumberger, Weatherford, Nabors Industries, Stena Drilling, Aker Solutions, and Enhanced Drilling, among others. These players focus on technological innovation and expanding service portfolios to strengthen their market presence.
Conclusion
The global managed pressure drilling market is set to experience steady growth from 2025 to 2034, supported by increasing exploration activities, rising offshore investments, and the growing complexity of drilling operations. With the market projected to grow from USD 3.51 billion in 2025 to USD 5.14 billion by 2034, managed pressure drilling will remain a critical technology for safe and efficient well construction. Although the shift toward renewable energy poses long-term challenges, sustained demand for oil and gas, coupled with technological advancements in drilling techniques, is expected to support continued market expansion across key regions.
Segmentation By Technology
By Application
By Geography