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    Offshore Drilling Rigs Market | Covid-19 Impact Analysis

    Offshore Drilling Rigs Market | Covid-19 Impact Analysis

    Offshore Drilling Rigs Market | Covid-19 Impact Analysis
    Report code - SROG135 Delivery - 2 Weeks
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    Offshore Drilling Rigs Market Size, Share, Trend, Forecast, & Industry Analysis &ndash See more...
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    Impact of COVID-19 on Offshore Drilling Rigs Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Offshore Drilling Rigs Market

    Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Offshore Drilling Rigs Market Insights

    Offshore drilling rigs market is likely to witness an impressive CAGR of 9.1% during the forecast period. The demand for offshore drilling rigs is driven mainly by rising expenditure on production and exploration coupled with the growing demand for energy from emerging economies.

    Offshore Drilling Rigs Market – Snapshot

    Growth

    9.1% for the next five years

    Major Device  Type

    Jackup Rigs

    Dominant Application Type

    Deepwater

    Region with the highest demand

    Asia-Pacific

    Key Players

    Aban Offshore Limited, Atwood Oceanics, China Oilfield Services    Limited, Diamond Offshore Drilling Inc., Ensco PLC, Hercules         Offshore Inc., KCA Deutag, Maersk Drilling, Nabors Industries Ltd.,    Noble Corporation, Pacific Drilling, Rowan Companies PLC, Seadrill Limited, Transocean Ltd., and Vantage Drilling.

     

    Market Share Analysis

    Offshore-Drilling-Rigs-Market-Dominant-Segments

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    Offshore Drilling Rigs Market Share: By Device Type

    Based on the device type, the market is segmented as jackup rigs, semi-submersible rigs, and drillships. The jackup rigs segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. This segment is expected to expand with a lucrative CAGR owing to technological improvements and increasing viability of offshore oil & gas projects.

    Offshore Drilling Rigs Market Share: By Application Type

    Based on the application type, the market is segmented as shallow water, deepwater, and ultra-deep water. The deepwater segment is projected to expand with a significant CAGR over the forecast period owing to huge demand from the upcoming exploration and production projects in countries such as Brazil, Nigeria, and others.

    Offshore Drilling Rigs Market Share: By Region

    In terms of regions, Asia-Pacific is projected to be the largest and fastest-growing market for offshore drilling rigs during the forecast period. The Asia-Pacific’s market is expected to expand with a lucrative CAGR due to growing shallow and deepwater explorations in western Africa. The Latin American region and the Gulf of Mexico are also expected to contribute for significant demand.

    Offshore-Drilling-Rigs-Market-By-Region

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    Some of the major offshore drilling rig players are-

    • Aban Offshore Limited
    • Atwood Oceanics
    • China Oilfield Services Limited
    • Diamond Offshore Drilling Inc.
    • Ensco PLC
    • Hercules Offshore Inc.
    • KCA Deutag
    • Maersk Drilling
    • Nabors Industries Ltd.
    • Noble Corporation
    • Pacific Drilling
    • Rowan Companies PLC
    • Seadrill Limited
    • Transocean Ltd.
    • Vantage Drilling.

     

    Market Scope & Segmentation

    Offshore drilling rigs are also called oil platforms or offshore platform. Offshore drilling rigs are large-structured with facilities for well drilling to extract, explore, process, and store petroleum and natural gas that lie in rock formations beneath the seabed.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market

    Offshore Drilling Rigs Market Research Report – Features

    Market Segmentation

    3

    Regions Covered

    4

    Countries/Sub-Regions Covered

    17

    No. of Figures & Tables

    >150

    Company Profiles

    9

     

    The offshore drilling rigs market is segmented into the following categories. 

    Offshore Drilling Rigs Market Size, Share, & Forecast, by Device Type:

    • Jackup Rigs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Semi-submersible rigs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Drillships (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Offshore Drilling Rigs Market Size, Share, & Forecast, by Application Type:

    • Shallow Water (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Deepwater (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Ultra-Deep Water (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Offshore Drilling Rigs Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    Offshore-Drilling-Rigs-Market-Segmentation

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    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

     

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, material launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the device types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]


    Frequently Asked Questions (FAQs)

    What will be the growth of Offshore Drilling Rigs Market in the foreseeable future?

    The offshore drilling rigs market is expected to witness an impressive growth of 9.1% CAGR in the foreseeable future.

    Who are the key players in the Offshore Drilling Rigs Market?

    Aban Offshore Limited, Atwood Oceanics, China Oilfield Services Limited, Diamond Offshore Drilling Inc., Ensco PLC, Hercules Offshore Inc., KCA Deutag, Maersk Drilling, Nabors Industries Ltd., Noble Corporation, Pacific Drilling, Rowan Companies PLC, Seadrill Limited, Transocean Ltd., and Vantage Drilling are among the key players in the offshore drilling rigs market.

    Which country/region is expected to be the largest Offshore Drilling Rigs Market?

    Asia-Pacific is expected to be the largest offshore drilling rigs market during the next five years.

    Which device type is expected to remain dominant in the Offshore Drilling Rigs Market?

    The jackup rigs segment is expected to remain dominant segment in the offshore drilling rigs market in the coming years.

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