Offshore Drilling Rigs Market Expected to Inflate at a CAGR of 11.25% % CAGR by Forecast to 2023 | Global Top Key Players: Halliburton , Schlumberger, Vantage Drilling Co., Pacific Drilling

Global Offshore Drilling Rigs Market Top Key Players:-

The major player operating in the market of offshore drilling rigs are Halliburton (U.S.), Schlumberger (U.S.), Weatherford International Inc (U.S.), Seadrill (Bermuda), and Aban Offshore Limited (India). China Oilfield Services Ltd. (China), Ensco plc (UK), Diamond Offshore Drilling Inc. (U.S.), Vantage Drilling Co. (U.S.), Pacific Drilling (U.S.), KCA Deutag (UK), Maersk Drilling (Denmark), and Nabors Industries Ltd (Bermuda), Nobel Corporation (U.K.) are among others.

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Market Highlights:-

The global market of offshore drilling rigs is growing rapidly due to increased oil & gas exploration activities around the world. The high demand for crude oil, along with the maturing of onshore oil and gas wells is fostering the growth of Offshore Drilling Rigs market. Moreover, factors such as continuous development of offshore reserves and rising deep water production are likely to influence the growth of the global offshore drilling market positively. Recent discoveries of offshore energy reserves in regions have triggered the growth in the offshore drilling rigs market. Offshore drilling rigs systems are implemented to maximize oil and gas extraction. The existing supply and demand gap in the oil & gas sector has increased the need for efficient search and extraction of oil and gas. Additionally, a renewed interest in shale gas extraction has also driven the offshore drilling rigs market. The high demand for crude oil, along with the maturing of onshore oil and gas wells is driving the market for offshore drilling rigs.

Offshore Drilling Rigs Market - Segmentation

Global Offshore Drilling Rigs Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Type : Comprises - Drillships, Jackup Rigs, and Semi-Submersibles.

Segmentation By Operating Depth : Comprises - Shallow Water, Deep Water, Ultra Water.

Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Segment Jackup Rigs is anticipated to be the largest market during the anticipated period.

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Offshore Drilling Rigs Global Market:-

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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