Offshore Drilling Rigs Market
PUBLISHED: 2021 ID: SMRC20884
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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

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4.1 (29 reviews)
Published: 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.

Table of Contents

1 Executive Summary     
      
2 Preface     

 2.1 Abstract    
 2.2 Stake Holders    
 2.3 Research Scope    
 2.4 Research Methodology    
  2.4.1 Data Mining   
  2.4.2 Data Analysis   
  2.4.3 Data Validation   
  2.4.4 Research Approach   
 2.5 Research Sources    
  2.5.1 Primary Research Sources   
  2.5.2 Secondary Research Sources   
  2.5.3 Assumptions   
      
3 Market Trend Analysis     
 3.1 Introduction    
 3.2 Drivers    
 3.3 Restraints    
 3.4 Opportunities    
 3.5 Threats    
 3.6 Application Analysis    
 3.7 Emerging Markets    
 3.8 Impact of Covid-19    
      
4 Porters Five Force Analysis     
 4.1 Bargaining power of suppliers    
 4.2 Bargaining power of buyers    
 4.3 Threat of substitutes    
 4.4 Threat of new entrants    
 4.5 Competitive rivalry    
      
5 Global Offshore Drilling Rigs Market, By Type     
 5.1 Introduction    
 5.2 Bottom-Supported Rigs    
  5.2.1 Jackup Rigs   
  5.2.2 Platform Rigs   
 5.3 Floating Rigs    
  5.3.1 Drillships   
  5.3.2 Semi-Submersible Rigs   
  5.3.3 Tender Assist Rig   
      
6 Global Offshore Drilling Rigs Market, By Application     
 6.1 Introduction    
 6.2 Deepwater    
 6.3 Shallow Water    
 6.4 Ultra-Deep Water    
      
7 Global Offshore Drilling Rigs Market, By Geography     
 7.1 Introduction    
 7.2 North America    
  7.2.1 US   
  7.2.2 Canada   
  7.2.3 Mexico   
 7.3 Europe    
  7.3.1 Germany   
  7.3.2 UK   
  7.3.3 Italy   
  7.3.4 France   
  7.3.5 Spain   
  7.3.6 Rest of Europe   
 7.4 Asia Pacific    
  7.4.1 Japan   
  7.4.2 China   
  7.4.3 India   
  7.4.4 Australia   
  7.4.5 New Zealand   
  7.4.6 South Korea   
  7.4.7 Rest of Asia Pacific   
 7.5 South America    
  7.5.1 Argentina   
  7.5.2 Brazil   
  7.5.3 Chile   
  7.5.4 Rest of South America   
 7.6 Middle East & Africa    
  7.6.1 Saudi Arabia   
  7.6.2 UAE   
  7.6.3 Qatar   
  7.6.4 South Africa   
  7.6.5 Rest of Middle East & Africa    
      
8 Key Developments     
 8.1 Agreements, Partnerships, Collaborations and Joint Ventures    
 8.2 Acquisitions & Mergers    
 8.3 New Product Launch    
 8.4 Expansions    
 8.5 Other Key Strategies    
      
9 Company Profiling     
 9.1 Aban Offshore Limited    
 9.2 Atwood Oceanics    
 9.3 China Oilfield Services Limited    
 9.4 Diamond Offshore Drilling Inc.    
 9.5 Ensco PLC    
 9.6 Hercules Offshore Inc.    
 9.7 KCA Deutag    
 9.8 Maersk Drilling    
 9.9 Nabors Industries Ltd.    
 9.10 Noble Corporation    
 9.11 Pacific Drilling    
 9.12 Rowan Companies PLC    
 9.13 Seadrill Limited    
 9.14 Transocean Ltd.    
 9.15 Vantage Drilling    


List of Tables      
1 Global Offshore Drilling Rigs Market Outlook, By Region (2019-2028) (US $MN)      
2 Global Offshore Drilling Rigs Market Outlook, By Type (2019-2028) (US $MN)     
3 Global Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2019-2028) (US $MN)     
4 Global Offshore Drilling Rigs Market Outlook, By Jackup Rigs (2019-2028) (US $MN)     
5 Global Offshore Drilling Rigs Market Outlook, By Platform Rigs (2019-2028) (US $MN)     
6 Global Offshore Drilling Rigs Market Outlook, By Floating Rigs (2019-2028) (US $MN)     
7 Global Offshore Drilling Rigs Market Outlook, By Drillships (2019-2028) (US $MN)     
8 Global Offshore Drilling Rigs Market Outlook, By Semi-Submersible Rigs (2019-2028) (US $MN)     
9 Global Offshore Drilling Rigs Market Outlook, By Tender Assist Rig (2019-2028) (US $MN)     
10 Global Offshore Drilling Rigs Market Outlook, By Application (2019-2028) (US $MN)     
11 Global Offshore Drilling Rigs Market Outlook, By Deepwater (2019-2028) (US $MN)     
12 Global Offshore Drilling Rigs Market Outlook, By Shallow Water (2019-2028) (US $MN)     
13 Global Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2019-2028) (US $MN)     
14 North America Offshore Drilling Rigs Market Outlook, By Country (2019-2028) (US $MN)      
15 North America Offshore Drilling Rigs Market Outlook, By Type (2019-2028) (US $MN)     
16 North America Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2019-2028) (US $MN)     
17 North America Offshore Drilling Rigs Market Outlook, By Jackup Rigs (2019-2028) (US $MN)     
18 North America Offshore Drilling Rigs Market Outlook, By Platform Rigs (2019-2028) (US $MN)     
19 North America Offshore Drilling Rigs Market Outlook, By Floating Rigs (2019-2028) (US $MN)     
20 North America Offshore Drilling Rigs Market Outlook, By Drillships (2019-2028) (US $MN)     
21 North America Offshore Drilling Rigs Market Outlook, By Semi-Submersible Rigs (2019-2028) (US $MN)     
22 North America Offshore Drilling Rigs Market Outlook, By Tender Assist Rig (2019-2028) (US $MN)     
23 North America Offshore Drilling Rigs Market Outlook, By Application (2019-2028) (US $MN)     
24 North America Offshore Drilling Rigs Market Outlook, By Deepwater (2019-2028) (US $MN)     
25 North America Offshore Drilling Rigs Market Outlook, By Shallow Water (2019-2028) (US $MN)     
26 North America Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2019-2028) (US $MN)     
27 Europe Offshore Drilling Rigs Market Outlook, By Country (2019-2028) (US $MN)      
28 Europe Offshore Drilling Rigs Market Outlook, By Type (2019-2028) (US $MN)     
29 Europe Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2019-2028) (US $MN)     
30 Europe Offshore Drilling Rigs Market Outlook, By Jackup Rigs (2019-2028) (US $MN)      
31 Europe Offshore Drilling Rigs Market Outlook, By Platform Rigs (2019-2028) (US $MN)     
32 Europe Offshore Drilling Rigs Market Outlook, By Floating Rigs (2019-2028) (US $MN)     
33 Europe Offshore Drilling Rigs Market Outlook, By Drillships (2019-2028) (US $MN)     
34 Europe Offshore Drilling Rigs Market Outlook, By Semi-Submersible Rigs (2019-2028) (US $MN)     
35 Europe Offshore Drilling Rigs Market Outlook, By Tender Assist Rig (2019-2028) (US $MN)     
36 Europe Offshore Drilling Rigs Market Outlook, By Application (2019-2028) (US $MN)     
37 Europe Offshore Drilling Rigs Market Outlook, By Deepwater (2019-2028) (US $MN)     
38 Europe Offshore Drilling Rigs Market Outlook, By Shallow Water (2019-2028) (US $MN)     
39 Europe Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2019-2028) (US $MN)     
40 Asia Pacific Offshore Drilling Rigs Market Outlook, By Country (2019-2028) (US $MN)      
41 Asia Pacific Offshore Drilling Rigs Market Outlook, By Type (2019-2028) (US $MN)     
42 Asia Pacific Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2019-2028) (US $MN)     
43 Asia Pacific Offshore Drilling Rigs Market Outlook, By Jackup Rigs (2019-2028) (US $MN)     
44 Asia Pacific Offshore Drilling Rigs Market Outlook, By Platform Rigs (2019-2028) (US $MN)     
45 Asia Pacific Offshore Drilling Rigs Market Outlook, By Floating Rigs (2019-2028) (US $MN)     
46 Asia Pacific Offshore Drilling Rigs Market Outlook, By Drillships (2019-2028) (US $MN)     
47 Asia Pacific Offshore Drilling Rigs Market Outlook, By Semi-Submersible Rigs (2019-2028) (US $MN)     
48 Asia Pacific Offshore Drilling Rigs Market Outlook, By Tender Assist Rig (2019-2028) (US $MN)     
49 Asia Pacific Offshore Drilling Rigs Market Outlook, By Application (2019-2028) (US $MN)     
50 Asia Pacific Offshore Drilling Rigs Market Outlook, By Deepwater (2019-2028) (US $MN)     
51 Asia Pacific Offshore Drilling Rigs Market Outlook, By Shallow Water (2019-2028) (US $MN)     
52 Asia Pacific Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2019-2028) (US $MN)     
53 South America Offshore Drilling Rigs Market Outlook, By Country (2019-2028) (US $MN)      
54 South America Offshore Drilling Rigs Market Outlook, By Type (2019-2028) (US $MN)     
55 South America Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2019-2028) (US $MN)     
56 South America Offshore Drilling Rigs Market Outlook, By Jackup Rigs (2019-2028) (US $MN)     
57 South America Offshore Drilling Rigs Market Outlook, By Platform Rigs (2019-2028) (US $MN)     
58 South America Offshore Drilling Rigs Market Outlook, By Floating Rigs (2019-2028) (US $MN)     
59 South America Offshore Drilling Rigs Market Outlook, By Drillships (2019-2028) (US $MN)      
60 South America Offshore Drilling Rigs Market Outlook, By Semi-Submersible Rigs (2019-2028) (US $MN)     
61 South America Offshore Drilling Rigs Market Outlook, By Tender Assist Rig (2019-2028) (US $MN)     
62 South America Offshore Drilling Rigs Market Outlook, By Application (2019-2028) (US $MN)     
63 South America Offshore Drilling Rigs Market Outlook, By Deepwater (2019-2028) (US $MN)     
64 South America Offshore Drilling Rigs Market Outlook, By Shallow Water (2019-2028) (US $MN)     
65 South America Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2019-2028) (US $MN)     
66 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Country (2019-2028) (US $MN)      
67 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Type (2019-2028) (US $MN)     
68 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2019-2028) (US $MN)     
69 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Jackup Rigs (2019-2028) (US $MN)     
70 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Platform Rigs (2019-2028) (US $MN)     
71 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Floating Rigs (2019-2028) (US $MN)     
72 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Drillships (2019-2028) (US $MN)     
73 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Semi-Submersible Rigs (2019-2028) (US $MN)     
74 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Tender Assist Rig (2019-2028) (US $MN)     
75 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Application (2019-2028) (US $MN)     
76 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Deepwater (2019-2028) (US $MN)     
77 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Shallow Water (2019-2028) (US $MN)     
78 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2019-2028) (US $MN)  

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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