Offshore Drilling Rigs 2018 Market Top Key Players and Competitive Strategies: Ensco plc, Diamond Offshore Drilling Inc. , Vantage Drilling Co. , Pacific Drilling ,Halliburton , Schlumberger , Weatherford International Inc

Offshore Drilling Rigs Market Overview:-

The global market of offshore drilling rigs is growing rapidly due to increased oil & gas exploration activities around the world. 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.

The global offshore drilling rigs market is expected to expand at ~11.25%

CAGR during the forecast period.
Offshore drilling rigs industry is expected to have a huge number of advancements over the forecast period owing to continuous developments in end-use industry coupled with growing demand for exploration and production expenditure in oil industry. The market is also expected to have high expansion activities by multinationals and well-established companies.

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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.

Industry News:-

In July, 2017 – GE (NYSE: GE) and Maersk Drilling extended the scope of their digital partnership. The collaboration brings the next big step in innovative efficiency services to the offshore market and constitutes great value for customers by enhancing drilling productivity.

In January, 2017 – China Oilfield Services (COSL), the Chinese dominant offshore oil and gas drilling services provider, plans a substantial increase its revenue contribution from overseas projects in coming years, as it gradually recovers from the worst industry downturn since going public in 2002.

Offshore Drilling Rigs Market Segmentation:-

The offshore drilling rigs market is segments on the basis of type, operating depth, and region. On the basis of type the market is classified as drillship, jackup rigs, and semi-submersible rigs. Amongst these, semisubmersible segments holds the largest market share due to its capability of withstanding the harshest conditions and ultra-deepwater at the depth of more than 3000 km based on operating depth, the offshore drilling rigs market is segmented into three segments, which are shallow water, deep water, and ultra-deepwater. Ultra-deepwater segment is dominating the market position due to increasing discoveries from ultra-deepwater.

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Market Research Future Analysis:

Market Research Future analysis show that the global market of offshore drilling rigs market is estimated to grow at significant growth by the end of year 2022.

The demand for offshore drilling rigs in the Asia Pacific region is expected to rise the demand for growing exploration activities in Southeast Asia. Latin America is leading the market of offshore drilling rigs due to equipped with increased cargo capacity and enhanced crew amenities and automation system. Offshore drilling rigs are used for drilling and exploration activities in the offshore arena. The market is also expected to gain traction from the rising investments in oil and gas activities. Moreover, growth of the offshore drilling rigs market 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. Growing demand for deep-water activities in the Asia-Pacific region and further drilling into mid ocean are driving the demand for jackup rigs in the region. 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.

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