Offshore Drilling Rigs Market is driving by increasing demand for energy, rise in oil & gas exploration activities and need for energy security | Says GIS Analyst

Global Offshore Drilling Rigs Market report from Global Insight Services is the single authoritative source of intelligence on Offshore Drilling Rigs Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Offshore drilling rigs are used for extracting oil and gas from the seabed. They are designed to operate in harsh environments and can be used in water depths up to 3,000 meters. The first offshore drilling rig was built in the early 20th century and since then, they have become an essential part of the oil and gas industry.

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Covid 19 Impact

The impact of COVID-19 on the offshore drilling rigs industry has been significant. The pandemic has resulted in a decrease in demand for oil and gas, as well as a decrease in the price of oil and gas. This has led to a decrease in the number of rigs that are operating, as well as the number of rigs that are being built. The pandemic has also resulted in a decrease in the number of workers that are employed in the offshore drilling rigs industry.

Key Trends

Offshore drilling rigs are used for drilling operations in bodies of water more than 500 feet deep. The first offshore drilling rig was built in the 1930s, and the technology has since evolved to allow for operations in ever-increasing water depths. Today, offshore drilling rigs are used in a variety of settings, from the shallow waters of the Gulf of Mexico to the deepwater drilling taking place in the Gulf of Guinea.

Key Drivers

The major drivers for this market are the increasing demand for energy, the rise in oil & gas exploration activities, and the need for energy security.

The demand for offshore drilling rigs is increasing due to the rise in oil & gas exploration activities. The major oil & gas producing regions are the North Sea, the Gulf of Mexico, and the Asia Pacific. The North Sea is the largest market for offshore drilling rigs, followed by the Gulf of Mexico and the Asia Pacific.

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Market Segments

- By Water Depth:
Shallow water
Deepwater
Ultra-Deep water

- By Type:
Jackup Rigs
Semi-Submersible Rigs
Drillships

Leading Key Players:

- Transocean
- Royal Dutch Shell
- Chevron
- ExxonMobil
- BP
- Anadarko Petroleum
- Total SA
- Statoil
- Marathon Oil
- Noble Corporation

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