Global Offshore Drilling Rigs Market Analysis 2022
The Global Offshore Drilling Rigs Market is expected to reach $178.76 billion by 2028 growing at a CAGR of 10.3% from 2021 to 2028. Offshore drilling is the process of extracting petroleum from rock formation, which lies beneath the seabed. This method is used to extract natural sources of oil and gas from earth. These vessels are used for excavation and construction purposes. Offshore drilling rigs provide facilities to extract, store and process natural gas and petroleum. Moreover, the offshore drilling rigs are capable of reaching the farthest and deepest locations. These rigs are very robust and can withstand harsh environmental conditions.
Factors such as increasing energy demand from emerging countries, growing demand for oil and gas, rise in exploration & production expenditures and regulations of prices of oil drive offshore exploration activities are driving the growth of the market. However, environmental concerns and government regulations is restraining the growth of the market.
Based on the type, the floating rigs segment is going to have lucrative growth during the forecast period, due to rising shallow and deepwater explorations and increase in the number of investments from operators, especially for deep and ultra-deep water activities. It is one of the most important segments of oil field production chain as it provides services and equipments to oil explorers, producers and transportation of crude oil and natural gas. Floating rigs are not resting on the seafloor which includes semi-submersible and drill ship. Rigs are huge structures that are used in the process of extraction of crude oil from oil wellbore.
The key vendors mentioned are Weatherford International Inc, Nobel Corporation, Vantage Drilling Co., Keppel Corporation Limited, Aban Offshore Limited, Schlumberger, Sembcorp Marine Ltd, Nabors Industries, Ensco plc, Samsung Heavy Industries Co. Ltd, Halliburton, Damen Shipyards Group, Transocean Ltd, Seadrill Ltd, Irving Shipbuilding Inc., Friede & Goldman Ltd, Hyundai Heavy Industries Co. Ltd, and Hercules Offshore Inc.
Types Covered:
- Floating Rigs
- Bottom-Supported Rigs
- Deep Water
- Shallow Water
- Ultra-Deep Water
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- How this market evolved since the year 2020
- Market size estimations, forecasts and CAGR for all the segments presented in the scope
- Key Market Developments and financials of the key players
- Opportunity Analysis for the new entrants
- SWOT Analysis of the key players
- Fastest growing markets analyzed during the forecast period
- 1 Market Synopsis
- 2 Research Outline
- 2.1 Research Snapshot
- 2.2 Research Methodology
- 2.3 Research Sources
- 2.3.1 Primary Research Sources
- 2.3.2 Secondary Research Sources
- 3 Market Dynamics
- 3.1 Drivers
- 3.2 Restraints
- 4 Market Environment
- 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 Floating Rigs
- 5.3 Bottom-Supported Rigs
- 6 Global Offshore Drilling Rigs Market, By Application
- 6.1 Introduction
- 6.2 Deep Water
- 6.3 Shallow Water
- 6.4 Ultra-Deep Water
- 7 Global Offshore Drilling Rigs Market, By Geography
- 7.1 Introduction
- 7.2 North America
- 7.3 Europe
- 7.4 Asia Pacific
- 7.5 South America
- 7.6 Middle East & Africa
- 8 Strategic Benchmarking
- 9 Vendors Landscape
- 9.1 Weatherford International Inc
- 9.2 Nobel Corporation
- 9.3 Vantage Drilling Co.
- 9.4 Keppel Corporation Limited
- 9.5 Aban Offshore Limited
- 9.6 Schlumberger
- 9.7 Sembcorp Marine Ltd
- 9.8 Nabors Industries
- 9.9 Ensco plc
- 9.10 Samsung Heavy Industries Co. Ltd
- 9.11 Halliburton
- 9.12 Damen Shipyards Group
- 9.13 Transocean Ltd
- 9.14 Seadrill Ltd
- 9.15 Irving Shipbuilding Inc.
- 9.16 Friede & Goldman Ltd
- 9.17 Hyundai Heavy Industries Co. Ltd
- 9.18 Hercules Offshore Inc.
- List of Data Tables
- Table 1 Global Offshore Drilling Rigs Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Offshore Drilling Rigs Market Outlook, By Type (2020-2028) ($MN)
- Table 3 Global Offshore Drilling Rigs Market Outlook, By Floating Rigs (2020-2028) ($MN)
- Table 4 Global Offshore Drilling Rigs Market Outlook, By Bottom-Supported Rigs (2020-2028) ($MN)
- Table 5 Global Offshore Drilling Rigs Market Outlook, By Application (2020-2028) ($MN)
- Table 6 Global Offshore Drilling Rigs Market Outlook, By Deep Water (2020-2028) ($MN)
- Table 7 Global Offshore Drilling Rigs Market Outlook, By Shallow Water (2020-2028) ($MN)
- Table 8 Global Offshore Drilling Rigs Market Outlook, By Ultra-Deep Water (2020-2028) ($MN)
- Table 9 North America Offshore Drilling Rigs Market Outlook, By Type (2020-2028) ($MN)
- Table 10 North America Offshore Drilling Rigs Market Outlook, By Application (2020-2028) ($MN)
- Table 11 Europe Offshore Drilling Rigs Market Outlook, By Type (2020-2028) ($MN)
- Table 12 Europe Offshore Drilling Rigs Market Outlook, By Application (2020-2028) ($MN)
- Table 13 Asia Pacific Offshore Drilling Rigs Market Outlook, By Type (2020-2028) ($MN)
- Table 14 Asia Pacific Offshore Drilling Rigs Market Outlook, By Application (2020-2028) ($MN)
- Table 15 South America Offshore Drilling Rigs Market Outlook, By Type (2020-2028) ($MN)
- Table 16 South America Offshore Drilling Rigs Market Outlook, By Application (2020-2028) ($MN)
- Table 17 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Type (2020-2028) ($MN)
- Table 18 Middle East & Africa Offshore Drilling Rigs Market Outlook, By Application (2020-2028) ($MN)
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