Global Deepwater And Ultra-Deepwater Drilling Market Report and Forecast 2023-2028

Global Deepwater and Ultra-Deepwater Drilling Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global deepwater and ultra-deepwater drilling market is projected to grow at a CAGR of 9% between 2023 and 2028. Aided by the rising energy demands and technological advancements facilitating offshore exploration, the market is expected to grow significantly by 2028.

Deepwater and ultra-deepwater drilling refer to offshore drilling activities that occur at depths of 400 meters to 1,500 meters and beyond 1,500 meters, respectively. Such drilling activities are vital for extracting petroleum and natural gas located beneath the seabed. The progression into deeper waters is seen as a natural evolution in offshore drilling, as easily accessible reserves deplete and the quest for new, untapped reservoirs intensifies. This type of drilling, while technologically challenging, offers enormous potential in terms of hydrocarbon production.

The driving force behind the global deepwater and ultra-deepwater drilling market growth is the incessant demand for energy resources. As the global population burgeons and economies grow, the quest for reliable energy sources continues unabated. Deepwater reservoirs, often untapped due to the inherent complexities and high costs, now present a promising frontier, especially given the advancements in drilling technologies and strategies.

Technological strides play an integral role in facilitating deep and ultra-deepwater drilling operations. Innovations in dynamic positioning systems, blowout preventers, and advanced drilling techniques have made it feasible to access reserves in challenging terrains, previously considered unviable. These advancements have been boosting the global deepwater and ultra-deepwater drilling market demand. Moreover, sophisticated subsea infrastructure, such as risers, umbilicals, and flowlines, ensures efficient transportation of the extracted hydrocarbons to the surface.

Furthermore, the transition towards renewable energy and a global emphasis on reducing carbon footprints may affect long-term prospects for the industry. However, the immediate and medium-term need for oil and gas, combined with declining onshore reserves, underscores the significance of offshore reservoirs.

The financial dimension of deep and ultra-deepwater drilling is further influencing the global deepwater and ultra-deepwater drilling market outlook. The capital-intensive nature of these operations means that fluctuations in oil prices can significantly impact the feasibility of new projects. Oil majors and independent operators tread cautiously, balancing the potential yields against the steep investments required.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application
  • Deepwater Drilling
  • Ultra-Deepwater Drilling
  • Others
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global deepwater and ultra-deepwater drilling market. Some of the major players explored in the report by Expert Market Research are as follows:
  • Diamond Offshore Drilling, Inc.
  • Valaris Limited
  • Saipem S.p.A.
  • Schlumberger Limited
  • Transocean Ltd.
  • Nabors Industries Ltd.
  • Seadrill Limited
  • Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.


1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Deepwater and Ultra-Deepwater Drilling Market Analysis
8.1 Key Industry Highlights
8.2 Global Deepwater and Ultra-Deepwater Drilling Historical Market (2018-2022)
8.3 Global Deepwater and Ultra-Deepwater Drilling Market Forecast (2023-2028)
8.4 Global Deepwater and Ultra-Deepwater Drilling Market by Application
8.4.1 Deepwater Drilling
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Ultra-Deepwater Drilling
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Others
8.5 Global Deepwater and Ultra-Deepwater Drilling Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
9 North America Deepwater and Ultra-Deepwater Drilling Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Deepwater and Ultra-Deepwater Drilling Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Deepwater and Ultra-Deepwater Drilling Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Deepwater and Ultra-Deepwater Drilling Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Deepwater and Ultra-Deepwater Drilling Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Diamond Offshore Drilling, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Valaris Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Saipem S.p.A.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Schlumberger Limited
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Transocean Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Nabors Industries Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Seadrill Limited
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Deepwater and Ultra-Deepwater Drilling Market: Key Industry Highlights, 2018 and 2028
2. Global Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Application (USD Million), 2018-2022
3. Global Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Application (USD Million), 2023-2028
4. Global Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Region (USD Million), 2018-2022
5. Global Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Region (USD Million), 2023-2028
6. North America Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Country (USD Million), 2018-2022
7. North America Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Country (USD Million), 2023-2028
8. Europe Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Country (USD Million), 2018-2022
9. Europe Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Asia Pacific Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Country (USD Million), 2018-2022
11. Asia Pacific Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Latin America Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Country (USD Million), 2018-2022
13. Latin America Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Middle East and Africa Deepwater and Ultra-Deepwater Drilling Historical Market: Breakup by Country (USD Million), 2018-2022
15. Middle East and Africa Deepwater and Ultra-Deepwater Drilling Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Global Deepwater and Ultra-Deepwater Drilling Market Structure

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