Semi-Submersible Rigs market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2014 - 2020

Transparency Market Research has created an organized collection of data on the industries of energy and mining. These reports shed light on the global or specific regional markets. One of the globally envisioned reports in the database is “Semi-Submersible Rigs market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast, 2014 – 2020.” This report takes into consideration the dynamic nature of the market while providing appropriate forecasts for the market’s future.

The global semi-submersible rigs market is primarily being driven by the growing number of exploration and production efforts in offshore oil and gas. This market is experiencing a high growth rate due to the number of advantages that semi-submersible rigs offer over conventional and fully submersible rigs. The biggest advantage they can offer is that of being disjointed, which allows semi-submersible rigs to operate at depths much lower than other rigs. At the same time, they can also offer a greater amount of stability in deep waters in comparison to other, fully submersible rigs.

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Semi-submersible rigs offer much more mobility than other types of rigs, as they can be towed at faster speeds. The increasing towing speed can allow semi-submersible rigs to operate in larger areas.

The global semi-submersible rigs market faces two major restraints. One of them is the high initial cost of building semi-submersible rigs. This can be easily mitigated by the overall savings earned by the operators over time, when compared to other rigs. The other restraint is more pressing, since it is virtually unavoidable. It pertains to the presence of a dry dock close by for maintenance efforts. Semi-submersible rigs require massive dry docks. If one is not available close by, semi-submersible rigs need to be towed to farther locations for repair and maintenance, costing the operators a lot more.

Geographically speaking, the global semi-submersible rigs market is being boosted by the high activity rate seen in the Rest of the World, the region that holds the largest deposits of oil and gas. The countries included in this leading region are Venezuela, Mexico, and Brazil. On the whole, the most promising regional segments of the global semi-submersible rigs market are South America and Central America.

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On the other hand, the market for offshore rigs in Europe is closing in on maturity and is already showing signs of slowing down. However, Asia Pacific is another region that is expected to show a higher rate of offshore explorations and production, thereby facilitating a better growth rate for the global semi-submersible rigs market.

The key players in the global semi-submersible rigs market are CIMC Group, Ocean Rig, Huisman Equipment B.V., and Aker Engineering and Technology.

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