Global Offshore Drilling Rigs Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2026, at a CAGR of XX % during a forecast period.
Global Offshore Drilling Rigs Market Dynamics
The progress of the offshore rigs market greatly depends on the growing exploration activities across the globe. The discoveries of oil and gas reserves in remote areas combined with rising technological advancements mostly in terms of equipment have made drilling operations much more viable and cost-effective. But current oil spill incidents and strict environment regulations on drilling activities can restrain the growth of offshore drilling rigs market.
Offshore drilling market are concerns of environmental influence of offshore drilling and threat to marine life. Also, the complications related to offshore drilling and extra cost required for activation of stacked rigs are probable to pose a threat for the expansion of global offshore drilling rigs market throughout the forecast period.
Global Offshore Drilling Rigs Market Segment Analysis
According to type, jack up rigs represents the leading segment regarding revenue. The jack up rigs segment is anticipated to represent XX % of the overall market by 2019. Expanding at a CAGR of XX% between 2019 and 2027, the jack up rigs segment is projected to be worth US$ XX Mn by the end of 2027 representing XX % of the overall market.
Global Offshore Drilling Rigs Market Regional Insights
Geographically, Asia Pacific held the largest market share in 2019. There has been rise in demand for offshore oil and gas production to suffice the energy needs, particularly from the emerging countries. Furthermore, increasing fuel consumption is also driving the need for offshore drilling. Latin America is expected to be the largest market in the offshore drilling industry, followed by Asia-Pacific. The Asia-Pacific market is anticipated to lead the offshore drilling rigs market by the year 2019, with projected market size of $XX Million, followed by Latin America with $XX Million, and Africa with $XX Million.
The report looks into key market segments and offers market size estimates and estimates of revenue contribution of each of the foremost segments over the forecast period. Following this, the report discusses industry statutes and industry policies that are in the purview of oil and gas exploration activities that market contributors need to observe to. This is followed by a market attractiveness analysis that is represented pictorially that existing as well as new market participants can leverage for business decision making.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global offshore drilling rigs market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global offshore drilling rigs market.
Global Offshore Drilling Rigs Market, Key Highlights:
• Global Offshore Drilling Rigs Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Offshore Drilling Rigs Market
• Global Offshore Drilling Rigs Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Offshore Drilling Rigs Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Offshore Drilling Rigs Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Offshore Drilling Rigs Market are also profiled.
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Scope of Global Offshore Drilling Rigs Market
Global Offshore Drilling Rigs Market, By Type
• Jack up
• Drill Ships
Global Offshore Drilling Rigs Market, By Application
• Shallow Water
• Deep Water
• Ultra Deep Water
Global Offshore Drilling Rigs Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Offshore Drilling Rigs Market
• Aban Offshore Limited
• Diamond Offshore Drilling Inc.
• Ensco PLC
• Hercules Offshore Inc.
• KCA Deutag
• China Oilfield Services Limited.
• Maersk Drilling
• Pacific Drilling
• Seadrill Limited
• Vantage Drilling
• Atwood Oceanics
• Nabors Industries Ltd
• Rowan Companies PLC
• Transocean Ltd.
• Weatherford International Inc
• Aban Offshore Limited
• Ensco plc
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