Offshore drilling rigs are used for drilling and exploration activities in the offshore arena. The high demand for crude oil, along with the maturing of onshore oil and gas wells is driving the market for offshore drilling rigs. The 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. Semi-submersibles and jackups dominate the global offshore drilling rigs market, owing to increasing shallow and Deepwater explorations. The major regions of the offshore drilling rigs market are Latin America, the Gulf of Mexico, and Western Africa; most offshore explorations and drilling activities take place in these regions.
Transocean (Switzerland), COSL (China), Nabors (Bermuda), Ensco plc. (U.K.), Diamond Offshore Drilling (U.S.), KCA Deutag (U.K.), and Maersk Drilling (Denmark), are the major players that constitute a significant share of the global offshore drilling rigs market. These players are concentrating on growing markets and are investing heavily to meet the demand from these markets and to reduce contract backlogs.
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Growing demand for deepwater activities in the Asia-Pacific region and further drilling into mid ocean is driving the demand for mid and deep water floaters. Additionally, increasing investments with high E&P Capex in these regions are also propelling the growth of the deepwater market. Drillships currently have the largest market size because of increasing ultra-deep water activities in growing offshore regions across the world.
The growth of the offshore drilling rigs market in these regions is propelled by factors such as growing offshore activities in the harsh environmental conditions of North Sea and depleting oil and gas reserves in the U.S. The CAGR of the European region is determined by growing offshore activities in the North Sea.
Table of Contents
- Introduction
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Market Segmentation
- Competitive Landscape
- Company Profiles
- Appendix
- List of Tables
- List of Figures
Browse 84 market data tables and 29 figures spread through 199 pages and in-depth TOC on “Offshore Drilling Rigs Market - Global Forecast to 2019”
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Scope of the Report:
The global offshore drilling rigs market is analyzed in terms of revenue ($Million) for the aforesaid applications, types, and by region.
By Geography
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East
• Africa
• Rest of the World (RoW)
By Application
• Shallow water
• Deepwater
• Ultra-Deep water
By Type
• Jackup Rigs
• Semi-Submersible Rigs
• Drillships
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The global offshore drilling rigs market value is expected to reach $102,473 million by 2019, growing at a CAGR of 9.27% from 2014 to 2019. Some of the factors responsible for this growth include increasing expenditure on exploration and production and the rising demand for energy from emerging economies like Africa, Brazil, and the U.S. Gulf of Mexico. The key concerns for the offshore drilling rigs industry include various environmental concerns and other related government regulations.
The Latin American region has abundant high offshore potential reserves of oil and gas. Furthermore, factors such as increasing investments in E&P CAPEX in the region are leading to growing offshore exploration and production activities, thereby increasing the demand for drilling equipment and offshore rigs.
The progress of the offshore rigs market largely depends on growing exploration activities across the globe. The recent discoveries of oil and gas reserves in remote areas, along with increasing technological advancements in terms of equipment have made drilling operations more feasible and cost-effective.
This report also includes market share, value-chain analysis, Porters Five Force Analysis, and market metrics such as drivers, restraints, burning issues, winning imperative, and opportunities. In addition, it presents the competitive landscape and company profiles of 15 players in the market, including major companies providing contract-drilling services.
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