Global Underbalanced Drilling Market Size Study, By Technology (Gas Injection, Foam Injection, Aerated Fluid Injection, Mist Drilling), By Application (Onshore, Offshore), and Regional Forecasts 2022-2032

March 2025 | 285 pages | ID: G3E1BEACED66EN
Bizwit Research & Consulting LLP

Abstracts

The global underbalanced drilling (UBD) market was valued at approximately USD 3.86 billion in 2023 and is projected to grow at a CAGR of 6.2% during the forecast period from 2024 to 2032. The increasing adoption of underbalanced drilling techniques is driven by the need to enhance hydrocarbon recovery while minimizing formation damage. UBD is particularly beneficial in depleted or low-pressure reservoirs, as it reduces drilling-related issues such as differential sticking and lost circulation while improving well productivity. The advancements in managed pressure drilling (MPD) technologies have further accelerated the widespread adoption of UBD across both onshore and offshore drilling applications.

A surge in global energy demand and the need for more efficient drilling solutions have encouraged the industry to shift toward cost-effective and innovative techniques. UBD allows for better control over formation pressure, reducing the risk of wellbore instability and enhancing penetration rates. Technological advancements such as real-time pressure monitoring, automated drilling control systems, and AI-driven predictive analytics are transforming the UBD market, making drilling operations safer and more efficient. Additionally, environmental regulations promoting sustainable extraction methods are fostering greater adoption of underbalanced drilling technologies.

With increasing investments in unconventional oil and gas resources, particularly in shale formations and deepwater reservoirs, UBD is gaining prominence. Key drilling operators and service providers are focusing on integrating artificial intelligence (AI) and automation technologies into drilling operations to improve efficiency and optimize drilling parameters. Furthermore, the expansion of offshore exploration activities in regions such as the Gulf of Mexico, North Sea, and Asia Pacific is expected to fuel market growth.

Regional Insights- North America is the leading region in the underbalanced drilling market, with the U.S. at the forefront due to its well-established oil and gas sector. The rising production of unconventional hydrocarbons, coupled with extensive investments in advanced drilling technologies, has significantly driven the demand for UBD solutions.

Asia Pacific is expected to witness the fastest growth rate over the forecast period, attributed to rising offshore exploration projects in China, India, and Southeast Asia. The growing need for efficient reservoir management solutions and the expansion of oil and gas infrastructure in these economies will support the growth of UBD technologies.

In Europe, there is increasing acceptance of UBD due to the push for sustainable drilling solutions and the rising number of offshore drilling projects in the North Sea. The region is expected to see steady growth as operators focus on enhancing extraction efficiency and reducing formation damage.

Major Market Players Included in This Report:

• Weatherford
• Halliburton
• Viking Services
• International Snubbing Services
• Air Drilling Associates
• Strata Energy Services Inc.
• Blade Energy Partners, Ltd
• Reform Energy Services
• Menicon Co., Ltd.
• Schlumberger
• Baker Hughes Company
• Precision Drilling Corporation
• Superior Energy Services
• Calfrac Well Services Ltd
• Archer Limited

The Detailed Segments and Sub-Segments of the Market are Explained Below:

By Technology:

• Gas Injection
• Foam Injection
• Aerated Fluid Injection
• Mist Drilling

By Application:

• Onshore
• Offshore

By Region:

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• UK
• France
• Italy
• Norway
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Chile
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• Qatar
• South Africa
• Rest of the Middle East & Africa

Years considered for the study are as follows:

• Historical year – 2022
• Base year – 2023
• Forecast period – 2024 to 2032

Key Takeaways:

• Market estimates & forecasts for 10 years (2022-2032).
• Annualized revenues and regional-level analysis for each market segment.
• In-depth analysis of the geographical landscape with country-level insights.
• Competitive landscape overview with insights into major market players.
• Strategic recommendations on future market approaches.
• Demand-side and supply-side analysis of the underbalanced drilling market.

Contents

CHAPTER 1. GLOBAL UNDERBALANCED DRILLING MARKET EXECUTIVE SUMMARY

1.1. Global Underbalanced Drilling Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Technology
  1.3.2. By Application
1.4. Key Market Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL UNDERBALANCED DRILLING MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory Frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL UNDERBALANCED DRILLING MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Growing Demand for Hydrocarbon Recovery in Depleted Reservoirs
  3.1.2. Advancements in Managed Pressure Drilling (MPD) Technologies
  3.1.3. Increasing Adoption of AI and Automation in Drilling Operations
3.2. Market Challenges
  3.2.1. High Initial Investment and Operational Costs
  3.2.2. Complexity of Underbalanced Drilling Operations
3.3. Market Opportunities
  3.3.1. Expansion of Offshore Exploration Activities
  3.3.2. Growing Demand for Sustainable Drilling Technologies
  3.3.3. Integration of Digital Solutions and Predictive Analytics

CHAPTER 4. GLOBAL UNDERBALANCED DRILLING MARKET INDUSTRY ANALYSIS

4.1. Porter’s Five Forces Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political Factors
  4.2.2. Economic Factors
  4.2.3. Social Factors
  4.2.4. Technological Factors
  4.2.5. Environmental Factors
  4.2.6. Legal Factors
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL UNDERBALANCED DRILLING MARKET SIZE & FORECASTS BY TECHNOLOGY (2022-2032)

5.1. Segment Dashboard
5.2. Global Underbalanced Drilling Market: Technology Revenue Trend Analysis (2022 & 2032)
  5.2.1. Gas Injection
  5.2.2. Foam Injection
  5.2.3. Aerated Fluid Injection
  5.2.4. Mist Drilling

CHAPTER 6. GLOBAL UNDERBALANCED DRILLING MARKET SIZE & FORECASTS BY APPLICATION (2022-2032)

6.1. Segment Dashboard
6.2. Global Underbalanced Drilling Market: Application Revenue Trend Analysis (2022 & 2032)
  6.2.1. Onshore
  6.2.2. Offshore

CHAPTER 7. GLOBAL UNDERBALANCED DRILLING MARKET SIZE & FORECASTS BY REGION (2022-2032)

7.1. North America Underbalanced Drilling Market
  7.1.1. U.S. Underbalanced Drilling Market
    7.1.1.1. Technology Breakdown Size & Forecasts (2022-2032)
    7.1.1.2. Application Breakdown Size & Forecasts (2022-2032)
  7.1.2. Canada Underbalanced Drilling Market
  7.1.3. Mexico Underbalanced Drilling Market
7.2. Europe Underbalanced Drilling Market
  7.2.1. Germany Underbalanced Drilling Market
  7.2.2. UK Underbalanced Drilling Market
  7.2.3. France Underbalanced Drilling Market
  7.2.4. Italy Underbalanced Drilling Market
  7.2.5. Norway Underbalanced Drilling Market
  7.2.6. Rest of Europe Underbalanced Drilling Market
7.3. Asia Pacific Underbalanced Drilling Market
  7.3.1. China Underbalanced Drilling Market
  7.3.2. India Underbalanced Drilling Market
  7.3.3. Japan Underbalanced Drilling Market
  7.3.4. Australia Underbalanced Drilling Market
  7.3.5. South Korea Underbalanced Drilling Market
  7.3.6. Rest of Asia Pacific Underbalanced Drilling Market
7.4. Latin America Underbalanced Drilling Market
  7.4.1. Brazil Underbalanced Drilling Market
  7.4.2. Argentina Underbalanced Drilling Market
  7.4.3. Chile Underbalanced Drilling Market
  7.4.4. Rest of Latin America Underbalanced Drilling Market
7.5. Middle East & Africa Underbalanced Drilling Market
  7.5.1. Saudi Arabia Underbalanced Drilling Market
  7.5.2. UAE Underbalanced Drilling Market
  7.5.3. Qatar Underbalanced Drilling Market
  7.5.4. South Africa Underbalanced Drilling Market
  7.5.5. Rest of Middle East & Africa Underbalanced Drilling Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. Weatherford
  8.1.2. Halliburton
  8.1.3. Viking Services
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. Reform Energy Services
  8.3.2. International Snubbing Services
  8.3.3. Air Drilling Associates
  8.3.4. Strata Energy Services Inc.
  8.3.5. Blade Energy Partners, Ltd
  8.3.6. Menicon Co., Ltd.

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes

List Of Tables

LIST OF TABLES

1. GLOBAL UNDERBALANCED DRILLING MARKET, REPORT SCOPE

2. GLOBAL UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS BY REGION (2022-2032) (USD BILLION)

3. GLOBAL UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS BY TECHNOLOGY (2022-2032) (USD BILLION)

4. GLOBAL UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS BY APPLICATION (2022-2032) (USD BILLION)

5. NORTH AMERICA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

6. U.S. UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS BY TECHNOLOGY (2022-2032) (USD BILLION)

7. U.S. UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS BY APPLICATION (2022-2032) (USD BILLION)

8. CANADA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

9. EUROPE UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

10. GERMANY UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

11. UK UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

12. FRANCE UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

13. ITALY UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

14. SPAIN UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

15. ASIA PACIFIC UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

16. CHINA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

17. INDIA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

18. JAPAN UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

19. LATIN AMERICA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

20. BRAZIL UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

21. MIDDLE EAST & AFRICA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

22. SAUDI ARABIA UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

23. UAE UNDERBALANCED DRILLING MARKET ESTIMATES & FORECASTS (2022-2032) (USD BILLION)

24. MARKET SHARE ANALYSIS OF TOP COMPANIES IN THE GLOBAL UNDERBALANCED DRILLING MARKET (2022-2032) (%)

25. INVESTMENT TRENDS & FUNDING IN UNDERBALANCED DRILLING MARKET (2022-2032) (USD MILLION)

This list is not complete; the final report contains more than 100 tables. The list may be updated in the final deliverable.

List Of Figures

LIST OF FIGURES

1. GLOBAL UNDERBALANCED DRILLING MARKET, RESEARCH METHODOLOGY

2. GLOBAL UNDERBALANCED DRILLING MARKET, MARKET ESTIMATION TECHNIQUES

3. GLOBAL MARKET SIZE ESTIMATES & FORECAST METHODS

4. GLOBAL UNDERBALANCED DRILLING MARKET, KEY TRENDS (2022-2032)

5. GLOBAL UNDERBALANCED DRILLING MARKET, GROWTH PROSPECTS (2022-2032)

6. GLOBAL UNDERBALANCED DRILLING MARKET, PORTER’S FIVE FORCE MODEL

7. GLOBAL UNDERBALANCED DRILLING MARKET, PESTEL ANALYSIS

8. GLOBAL UNDERBALANCED DRILLING MARKET, VALUE CHAIN ANALYSIS

9. GLOBAL UNDERBALANCED DRILLING MARKET BY TECHNOLOGY (2022 & 2032) (USD BILLION)

10. GLOBAL UNDERBALANCED DRILLING MARKET BY APPLICATION (2022 & 2032) (USD BILLION)

11. NORTH AMERICA UNDERBALANCED DRILLING MARKET GROWTH TRENDS (2022-2032)

12. EUROPE UNDERBALANCED DRILLING MARKET GROWTH TRENDS (2022-2032)

13. ASIA PACIFIC UNDERBALANCED DRILLING MARKET GROWTH TRENDS (2022-2032)

14. LATIN AMERICA UNDERBALANCED DRILLING MARKET GROWTH TRENDS (2022-2032)

15. MIDDLE EAST & AFRICA UNDERBALANCED DRILLING MARKET GROWTH TRENDS (2022-2032)

16. MARKET SHARE OF LEADING PLAYERS IN GLOBAL UNDERBALANCED DRILLING MARKET (2022-2032) (%)

17. INVESTMENT TRENDS IN UNDERBALANCED DRILLING MARKET BY REGION (2022-2032) (USD BILLION)

18. TECHNOLOGICAL INNOVATIONS IN UNDERBALANCED DRILLING SYSTEMS (2022-2032)

19. REGULATORY DEVELOPMENTS IMPACTING UNDERBALANCED DRILLING MARKET (2022-2032)

20. ENVIRONMENTAL IMPACT ANALYSIS OF UNDERBALANCED DRILLING TECHNIQUES (2022-2032)

This list is not complete; the final report contains more than 50 figures. The list may be updated in the final deliverable.