The global offshore drilling rigs market size was estimated to be US$ 95.3 billion in 2020 and is expected to reach US$ 150 billion by 2031 at a CAGR of 4.2%.
The expansion in the quantity of ventures from operators, particularly for deep level and super deep water level exercises, energizes the development of the offshore drilling rigs market. Semi-submarines and jackups overwhelm the worldwide offshore drilling rigs market, attributable to expanding shallow and deep-water investigations.
Offshore drilling rigs are utilized for drilling and investigation practices in the offshore field. The appeal for unrefined petroleum, alongside the developing of inland oil and gas wells, is driving the market for offshore drilling rigs since the past few decades. Offshore drilling rigs are the critical piece of equipment required for drilling underneath the seabed. These drilling methods are utilized to remove regular reserves of oil and gas from the earth.
Offshore drilling rigs can be grouped into semi-submersible, lift, and drill ships. The offshore drilling rigs are utilized in deep water level, shallow water level, and super profound water level. Semi-submersible type rigs are utilized in the deep water level drilling, lift rigs types are utilized in shallow water level drilling, and drill ships are utilized in the super deep water level drilling of the offshore regions.
Jackup rigs are offshore rigs regularly furnished with legs that can be brought down to the seabed to such an extent that an establishment is set up to help the drilling stage. When the establishment is introduced, the drilling stage is additionally raised to the normal most elevated waves based on the leg length. By and large, jack up rigs can work in water profundities going from 350 to 450 feet.
Semi-submersibles are a kind of offshore rigs that are lowered through a water weight framework, to such an extent that during drilling activities, the lower body segment is beneath the water surface. These rigs drift over the well using a securing framework or a PC controlled DP engine framework. The greater parts of the semi-subs are not versatile and are moved with the assistance of pulls. Some semi-submarines move between areas, utilizing their own force when above water on the boats. Semi-submarines are ordinarily utilized in more testing water conditions than drill ships and in water profundities going from 500 feet to 8,000+ feet.
In January 2021, the US President Joe Biden briefly ended the drilling on government lands which leaves by far most of US unrefined creation immaculate. It might go about as a significant blow for the possibilities of the Bay of Mexico's as of now lessening yield.
A portion of the cardinal aspects liable for this development remember elevated consumption for investigation and creation along with the acclivitous demand noted for energy from rapidly developing economies namely, Africa, Brazil, and the U.S. Mexican Gulf. The vital worries for the offshore drilling rigs industry incorporate different ecological concerns and other related regulations implemented worldwide.
Global Offshore Drilling Rigs Market Value Share Analysis, by Geography (2021)
The report titled “Global Offshore Drilling Rigs Market - Global Market Share, Trends, Analysis and Forecasts, 2022-2032”, wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Offshore Drilling Rigs Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Offshore Drilling Rigs market is segmented as type, water depth, and region. Based on type, the Offshore Drilling Rigs market is segmented into Jackups, Semisubmersibles, Drill Ships, Other. Based on water depth, the Offshore Drilling Rigs market is segmented into Shallow Water Deep, Deep, Ultra-deep water, other.
Based on geography, the Global Offshore Drilling Rigs Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Offshore Drilling Rigs Market. Further, market share of prominent companies in the Global Offshore Drilling Rigs Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Offshore Drilling Rigs companies. The Global Offshore Drilling Rigs Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Offshore Drilling Rigs business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Offshore Drilling Rigs Market.
The key players of the Global Offshore Drilling Rigs Market are KCA Deutag, Ensco, Noble Corporation, Nabors Industries, Pacific Drilling, China Oilfield Services Limited, Rowan Companies, Seadrill, Transocean, Vantage Drilling, Maersk Drilling, Hercules Offshore, Aban Offshore, Atwood Oceanics, Diamond Offshore Drilling, and others.
Global Offshore Drilling Rigs Market Key Segments:
Based on type
Based on water depth
By Region
The global Offshore Drilling Rigs market size was estimated to be US$ 95.3 billion in 2020.
The global Offshore Drilling Rigs market is expected to register a CAGR of 4.2% between 2022 and 2032.
Africa, Brazil, and the U.S is the principal contributor to the global Offshore Drilling Rigs market
KCA Deutag, Ensco, Noble Corporation, Nabors Industries, Pacific Drilling are the top 5 Offshore Drilling Rigs manufacturers.
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