Press release
Steady Expansion Forecast for Offshore Drilling Rigs Market, Projected to Reach $129.76 Billion by 2029
Offshore Drilling Rigs Market
Offshore Drilling Rigs Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for offshore drilling rigs has seen robust growth in the past few years. The market value is projected to rise from $92.83 billion in 2024 to $100.03 billion in 2025, with a compound annual growth rate (CAGR) of 7.7%. This growth during the historic period is due to factors such as oil and gas consumption, global energy patterns, and the regulatory landscape.
Offshore Drilling Rigs Market Size Forecast: What's the Projected Valuation by 2029?
The market for offshore drilling rigs is anticipated to experience significant growth in the upcoming years, with its size projected to reach $129.76 billion by 2029, boasting a compound annual growth rate (CAGR) of 6.7%. Economic issues, environmental awareness and sustainability, geopolitical influences and the transition to renewable energy are all factors contributing to this growth within the forecast period. Key trends during this period are expected to include the utilization of floating rig technology, digitalization and automation, exploration of alternative energies, collaborative business models, and remote monitoring and maintenance.
View the full report here:
https://www.thebusinessresearchcompany.com/report/offshore-drilling-rigs-global-market-report
What Are the Drivers Transforming the Offshore Drilling Rigs Market?
The offshore drilling rigs market is set for expansion due to the expected increase in exploratory wells. These are intensive testing pits dug both onshore and offshore by oil and gas exploration firms to find confirmed volumes of gas and oil that can be recovered. To illustrate, the U.S. Energy Information Administration, a governing body based in the US, stated in December 2023 that in December 2022 there was a rise in oil production to 12.1 million b/d, and an increase in natural gas production to 121.1 Bcf/d. As a result, the rise in the count of exploratory wells is fueling the growth of the offshore drilling rigs market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7462&type=smp
What Long-Term Trends Will Define the Future of the Offshore Drilling Rigs Market?
Prominent offshore drilling rigs firms are putting their efforts into developing advanced technology such as broad-ranged emissions management systems to aid in environmental compliance, streamline operations, and lessen the carbon footprint tied to their operations. This is in line with observing regulatory requirements and fostering sustainability in the sector. A system for managing emissions in offshore oil and gas integrates tools and technologies aiming at observing, reporting, and mitigating greenhouse gas emissions from drilling and production procedures. For instance, in August 2024, Honeywell Technology Inc., a multinational conglomerate based in the US and servicing a wide array of industries like aerospace, building technologies, performance materials, and safety and productivity solutions, rolled out an all-encompassing emissions management system for offshore oil and gas. It offers integrated tools for on-the-go monitoring, reporting, and data analysis of greenhouse gas emissions, thereby supporting companies in maintaining regulatory compliance and reducing their environmental footprint.
Which Segments in the Offshore Drilling Rigs Market Offer the Most Profit Potential?
The offshore drilling rigs market covered in this report is segmented -
1) By Type: Jackups, Semisubmersibles, Drill Ships, Other Types
2) By Application: Shallow Water, Deepwater, Ultra-Deep Water
Subsegments:
1) By Jackups: Independent Leg Jackups, Mat Supported Jackups, Tender-Assisted Jackups
2) By Semisubmersibles: Column Stabilized Semisubmersibles, Deepwater Semisubmersibles
3) By Drill Ships: Ultra-Deepwater Drill Ships, Deepwater Drill Ships
4) By Other Types: Platform Rigs, Submersible Rigs, Floating Production Storage And Offloading (FPSO) Units
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=7462&type=smp
Which Firms Dominate the Offshore Drilling Rigs Market by Market Share and Revenue in 2025?
Major companies operating in the offshore drilling rigs market include Samsung Heavy Industries Co. Ltd., Rowan Companies Inc., Keppel Corporation Limited, Hyundai Heavy Industries Co. Ltd., Schlumberger NV, TRINIDAD DRILLING Ltd., Halliburton Company, Baker Hughes Company, Transocean Ltd., Diamond Offshore Drilling Inc., Noble Corporation, Seadrill, Weatherford International plc, Stena Drilling Ltd, China Oilfield Services Limited, Nabors Industries Limited, Saipem s. p. a., KCA Deutag, Parker Drilling Company, Sembcorp Marine Ltd., COSCO Shipyard Group Co. Ltd., NOV Inc., Pacific Drilling Company LLC, Hanwha Ocean Co. Ltd., Aban Offshore Limited, Maersk Drilling
Which Regions Offer the Highest Growth Potential in the Offshore Drilling Rigs Market?
North America was the largest region in the offshore drilling rigs market in 2024.Middle East and Africa are expected to be the fastest growing regions in the forecast period. The regions covered in the offshore drilling rigs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7462
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Steady Expansion Forecast for Offshore Drilling Rigs Market, Projected to Reach $129.76 Billion by 2029 here
News-ID: 4078907 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Drill
What Is Difference Between HSS Twist Drill Bits And Cobalt Drill Bits?
Welcome to our product introduction on twist drill bits and cobalt drill bits. In the world of drilling tools, these two types of drill bits have become quite popular among professionals and DIY enthusiasts alike. They are known for their durability, versatility, and efficiency when it comes to drilling through various materials, including metal, wood, and plastic.
The purpose of this introduction is to explain the key differences between twist drill…
Construction Industry Core Drill Market, By Type (Wet Drill Bits and Dry Drill B …
With thorough company profiles, recent developments, and other information, the Construction Industry Core Drill Market Report provides an in-depth analysis of major trends, motivating reasons, obstacles, segmentation, regulatory policies, and important players. The Construction Industry Core Drill Market Report offers a thorough synopsis of the product portfolio, including product development, planning, and positioning of products with emerging technologies, impending opportunities, and problems. The market's views and viewpoints assess the potential…
Drill Collars in Oilfield Market: Players Tapping Emerging Markets | Drill Pipe …
Market Description -
Los Angeles, (United States) - The information made available in the Drill Collars in Oilfield report will definitely facilitate to increase the knowledge and decision-making skills of the business, thus providing an immense opportunity for growth. This will at last increase the return rate and drive the competitive edge within. Being a custom market report, it provides services tailored to the exact challenge. Whether it is survey work,…
Boring Tools Market Report 2018: Segmentation by Type (Drill Bits, Drilling Tubu …
Global Boring Tools market research report provides company profile for NACHI-FUJIKOSHI, OSG, Sandvik, BIG KAISER, Kennametal and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the basis…
Drill Pipe Market Countering growth 2025 | Tenaris S. A, Drill Pipe Internationa …
Global Drill Pipe Market: Snapshot
Drill pipes are hollow pipes, usually made of aluminum alloys or steel and are a core component in the drilling process. The hollow drill pipes enable for the transfer of drilling fluids downwards towards the drill point or back upwards through the annulus. Although a standard length for drill pipes is up to 32 feet, there are longer pipes that could stretch till 45 feet and…
Drill Bits Market Research Report- Forecast to 2027 | Global Drill Bits Industry
Global Drill Bits Market Information Report by Type (rolling cutter and fixed cutter bits), by End Market (land and offshore.) and by Region - Forecast to 2027
Increasing demand for energy has been a major factor in the significant growth of the drill bits market In recent times. Furthermore the recent expansion and exploratory activities undertaken across the globe are expecte4d to positively influence the Drill Bits market.
Get a sample copy…
