Global Offshore Drilling Rigs Market Research Report: Information by Type (drillship, jack-up rig, semi-submersible), Operating Depth and Region (North America, Asia Pacific, Europe, RoW) – Forecast till 2023
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Offshore Drilling Rigs Market– Overview:-
The offshore drilling rigs market is fragmented on the basis of type as Jackups, Semi-Submersibles, Drillships, Platform Rigs, and Tender Assist Rig. Semi-submersibles and jackups dominate the global offshore drilling rigs market, owing to increasing shallow and deepwater explorations. The semi-submersibles are a type of offshore rigs that are submerged by means of a water ballast system, such that during drilling operations, the lower hull portion is below the water surface. Most of the semi-submersibles are not mobile and are relocated with the help of tugs. Jackup rigs are offshore rigs typically equipped with legs that can be lowered to the seabed such that a foundation is established to support the drilling platform.
Globally, there is an increase in the number of investments from operators, especially for deep and ultra-deep water activities, fuels the growth of the offshore drilling rigs market. The crude prices have started to increase after mid-2017 and so the offshore oil & gas industry activities started to stabilize. The price crossed USD 60 per barrel mark in November 2017. In 2017, the rig contacting activity and utilization also showed improvements. Additionally, increasing investments with high E&P Capex in these regions are also propelling the growth of the deepwater market. However, concerns of environmental impact of offshore drilling and threat to marine life acts as restraint to the market.
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Offshore Drilling Rigs Global Market – Competitive Analysis
These players have adopted growth strategies such as new product launches, contracts & agreements, partnerships, collaborations, alliances, and joint ventures, mergers & acquisitions, and investments & expansions to capture a larger share of the offshore drilling rigs market
Some of the leading players in the offshore drilling rigs market, on the basis of their recent developments and other strategic industrial activities, are Aban Offshore Limited (India), Atwood Oceanics (U.S.), China Oilfield Services Limited. (China), Diamond Offshore Drilling Inc. (U.S.), Ensco PLC (U.K.), Hercules Offshore Inc. (U.S.), KCA Deutag (U.K.), Maersk Drilling (Denmark), Nabors Industries Ltd. (Bermuda), Noble Corporation (U.K), Rowan Companies PLC (U.S.), Seadrill Limited (Bermuda), Transocean Ltd. (Switzerland) and Pacific Drilling (Luxemborg) and others.
Global Offshore Drilling Rigs Market– Segmentation
The scope of global offshore drilling rigs market is segmented into four major segments which are explained below:
By Type
Jackups
Semi-Submersibles
Drillships
Platform Rigs
Tender Assist Rig
By Application
Shallow water
Deepwater
Ultra-deep water
By Regions
North America
Europe
Asia Pacific
Major points of TOC:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
4 Global Offshore Drilling Rigs Market, By Type
4.1 Introduction
4.2 Drillships
5 Global Offshore Drilling Rigs Market, By Operating Depth
5.1 Introduction
5.2 Shallow Water
To be continued…….
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Offshore Drilling Rigs Market – Regional Analysis
Latin American is the leading region due to high offshore potential reserves of oil and gas. Moreover, factors such as high investments in exploration & production (E&P) lead to an increase in demand for drilling equipment and offshore rigs. The increase in production of oil & gas in North America and the Middle East has driven operators to focus on offshore markets. Secondly, liberalization of the Mexican oil & gas sector drives the demand for offshore drilling.
Asia Pacific is one of the leading regions for growth in offshore drilling rigs market. The growing demand for energy coupled with the increasing investment in offshore exploration activities will drive the market in the forecast period. Asia Pacific is among the largest consumers of oil & gas. This demand will lead to more exploration and production in the region.
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