Offshore Drilling Rigs Market Scope
Offshore drilling rigs are the mechanical process of drilling below the seabed to access a natural resource. Offshore drilling involves the exploration and extraction of petroleum, which often lies beneath rock formations that are found below the seabed. Offshore drilling rigs provide more domestic self-sufficiency for natural resources and can reduce the costs of oil-related products for consumers. Geographically, latin american region is due to the presence of abundant high offshore potential reserves of oil & gas and energy and the rising number of investments from operators in deep-water drilling activities. Hence this factor is triggering the market growth over the forecast period.
The Offshore Drilling Rigs market study is segmented, by Application (Oil and gas, Marine and Power and Energy) and major geographies with country level break-up.
The market is expected to grow in the oil and gas industry. It has wide application in oil production and marine is driving the demand for the market. Several companies are operating in the market to provide customers with better offer with various features & unique offerings. The market is a consolidated market with the presence of several market players. Which is triggering the market growth over the forecast period
Schlumberger (United States), Halliburton (United States), Baker Hughes (United States), Petrofac (United Kingdom), Weatherford (United States), China Oilfield Services Limited (COSL) (China), Nabors Offshore (United States), Transocean (Switzerland), Fluor Corporation (United States), Ensco Plc (United Kingdom), Seadrill (Bermuda), Noble Corporation (United Kingdom), Diamond Offshore Drilling (United States), Rowan (United States) and Maersk Drilling (Denmark) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Offshore Drilling Rigs market by Type, Application and Region.
On the basis of geography, the market of Offshore Drilling Rigs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 17th September 2021, Halliburton (HAL) acquires a well-drilling contract in Israel. The company will provide services such as project management, directional drilling, drill bits, drilling fluids, cementing, solids control, wireline, slick line, completions, production enhancement, and subsea services.
Fully-automated drilling aboard a semisubmersible or jack-up drill rig powered by batteries is more demanding from customer
- The rising large demand for mobile offshore drilling vessels
- Offshore drilling reduces the oil prices if the oil is being produced on home soil rather than the foreign countries
- It provides more domestic self-sufficiency for natural resources.
- Offshore oil rigs market and drilling help to create jobs and boost the economy of the country
- It creates pollution hazard
- Offshore oil and gas production is more challenging than land-based installations
- The initial investment is huge and huge maintenances cost
Key Target AudienceOEM (Original Equipment Manufacturer), Freelancer, Trader, Regulatory authorities, New entrants/investors, Strategic business planners, Governments and End use industry
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Offshore Drilling Rigs Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.