Press release
Offshore Drilling Rigs Market to Partake Significant Development During 2016 - 2022
Offshore Drilling Rigs Market
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 prominent players in the offshore drilling rigs market includes Aban Offshore Limited, China Oilfield Services Ltd, Ensco plc, Diamond Offshore Drilling Inc., Vantage Drilling Co., Pacific Drilling, KCA Deutag, Maersk Drilling, Nabors Industries Ltd, Nobel Corporation and others.
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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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Global Offshore Drilling Rigs Market- Regional Analysis
Latin American is the leading region due to high offshore potential reserves of oil and gas. Moreover, factors such as increasing investments in exploration & production (E&P) lead to the increase the demand for drilling equipment and offshore rigs. The increase in global oil & gas production from North America and the Middle East has made operators focus on offshore markets. Secondly, liberalization of the Mexican oil & gas industry drives the demand for offshore drilling. Latin America is leading the market of offshore drilling rigs due to equipped with increased cargo capacity and enhanced crew amenities and automation system.
Asia-Pacific is one of the leading regions for growth in offshore drilling rigs market. The growing demand for energy coupled with the increasing investment in offshore exploration activities will drive the market in the forecast period. Asia-Pacific is among the largest consumers of oil & gas following North America. This demand will lead to more exploration and production in the region. The demand for offshore drilling rigs in the Asia Pacific region is expected to rise the demand for growing exploration activities in Southeast Asia.
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