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Offshore Drilling Rigs Market

Offshore Drilling Rigs Market Forecasts to 2028 – Global Analysis By Type (Bottom-Supported Rigs and Floating Rigs), Application (Deepwater, Shallow Water and Ultra-Deep Water) and By Geography

4.1 (29 reviews)
Published: August 2021 ID: SMRC20884
4.1 (29 reviews)
Published: August 2021 ID: SMRC20884

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Offshore Drilling Rigs Market is accounted for $112,002.99 million in 2020 and is expected to reach $263,749.06 million by 2028 growing at a CAGR of 11.3% during the forecast period. Increasing energy demand from emerging countries, rise in exploration & production expenditures and regulations of prices of oil drive offshore exploration activities are driving the market growth. However, environmental concerns and government regulations are hampering the growth of the market.

Offshore drilling rigs is a drilling method which is an essential part of drilling below the seabed. This method is used to extract natural sources of oil and gas from earth. Offshore drilling rigs provides facilities to extract, store and process natural gas and petroleum.

Based on the type, the floating rigs segment is going to have lucrative growth during the forecast period owing to increasing shallow and deepwater explorations. The increase in the number of investments from operators, especially for deep and ultra-deep water activities, fuels the growth of the segment.

By geography, Asia Pacific is going to have high growth during the forecast period owing to the rise in demand for deepwater activities in the region. Moreover, growing investments in exploration and production Capex in emerging countries in the region is also boosting the market growth.

Some of the key players profiled in the Offshore Drilling Rigs Market include Aban Offshore Limited, Atwood Oceanics, China Oilfield Services Limited, Diamond Offshore Drilling Inc., Ensco PLC, Hercules Offshore Inc., KCA Deutag, Maersk Drilling, Nabors Industries Ltd., Noble Corporation, Pacific Drilling, Rowan Companies PLC, Seadrill Limited, Transocean Ltd. and Vantage Drilling.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 112,002.99 million

Estimated Period:

2020

Compound Annual Growth Rate (CAGR) from 2020 to 2028:

11.3%

Predicted 2028 Value:

USD 263,749.06 million

Forecast Years:

2021-2028

Tables, Graphs & Figures

78

Chapters Covered:

Type, Application and Region

Core Drivers and Opportunities:

  • Increasing energy demand from emerging countries
  • Rise in exploration & production expenditures
  • Regulations of prices of oil drive offshore exploration activities

Restraining Factors & Market Threats:

  • Environmental concerns
  • Government regulations


Types Covered:
• Bottom-Supported Rigs
• Floating Rigs

Applications Covered:
• Deepwater
• Shallow Water
• Ultra-Deep Water

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Key Questions Answered In The Report

The Global Offshore Drilling Rigs Market is majorly driven by increasing energy demand from emerging countries, rise in exploration & production expenditures and regulations of prices of oil drive offshore exploration activities.

The floating rigs segment is growing at a highest CAGR owing to increasing shallow and deepwater explorations. The increase in the number of investments from operators, especially for deep and ultra-deep water activities, fuels the growth of the segment.

Asia Pacific dominated with a significant market share owing to the rise in demand for deepwater activities in the region. Moreover, growing investments in exploration and production Capex in emerging countries in the region is also boosting the market growth.

South America market is growing at a highest CAGR as the region has abundant high offshore potential reserves of oil and gas along with key market players.

Key players in Offshore Drilling Rigs Market include Aban Offshore Limited, Atwood Oceanics, China Oilfield Services Limited, Diamond Offshore Drilling Inc., Ensco PLC, Hercules Offshore Inc., KCA Deutag, Maersk Drilling, Nabors Industries Ltd., Noble Corporation, Pacific Drilling, Rowan Companies PLC, Seadrill Limited, Transocean Ltd. and Vantage Drilling.

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