Press release
Growth Dynamics on Offshore Drilling Rigs Market 2019-2025| Key Players: Transocean, Ensco, Seadrill, COSL, Diamond Offshore, Paragon Offshore, Ocean Rig, and Nabors Industries Limited. Among others.
Offshore Drilling Rigs
Imbalance in the demand and supply is observed over past three years. Moreover, aging and maturing onshore oilfields have opportunities for development of offshore drilling rigs over the past few decades and is anticipated to grow at a fast pace over the forecast period. Increasing environmental concerns and regulations are restraining the growth of offshore drilling rigs market.
Global Offshore Drilling Rigs Market Taxonomy:
On the basis of type, the global offshore drilling rigs are segmented as:
Jackup Rigs
Fixed Platform rigs
Submersible
Ultradeepwater units
Tender Assist Drilling
Semisubmersible Rigs
Drillships
Others
On the basis of application depth, the global offshore drilling rigs are segmented as:
Shallow Water Depth
Deep Water
Ultra-Deep Water
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Jackup rigs segment hold the largest share in the global offshore drilling rigs market, owing to its easy installation and low cost as compared to other rig types. Jackup rigs segment has opportunities for advancement and development.
Deep and Ultra-Deep waters are projected to be grow at a fast pace over the forecast period, owing to the major investment in this segment especially in regions such as Africa, North-America, and Europe.
Global Offshore Drilling Rigs Market Outlook
The North America & Latin America are projected to be the significant markets in the offshore drilling rigs market and they are anticipated to grow rapidly over the forecast period. Advancement in technology and development in offshore facilities is expected to further eliminate the regions dependency on foreign petroleum products.
Asia Pacific is witnessed to have a fast growth in offshore drilling rigs market, owing to rising energy demand, high consumption rate, development of the emerging economies in offshore drilling activities, and major investments in deep and ultra-deep water have driven the offshore drilling rigs market in this region.
Europe has witnessed a significant growth in offshore drilling rigs market followed by Africa. The burgeoning growth in North Sea, rising offshore exploration and production activities in Nigeria have further enhanced the offshore drilling rigs market.
In March 2017, Ensco claimed 200% increase in number of jackup rig count.
The major players operating the global offshore drilling rigs market are Transocean, Ensco, Seadrill, COSL, Diamond Offshore, Paragon Offshore, Ocean Rig, and Nabors Industries Limited.
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