(MENAFN- PR Newswire)
DUBLIN, Jan. 23, 2023 /PRNewswire/ -- The 'global offshore oil & gas rig market, by type (jackups, semisubmersibles, drill ships, and others), by water depth (shallow water, deepwater and ultra-deepwater), by region, competition, forecast and opportunities, 2017-2027' report has been added to ResearchAndMarkets.com's offering.
The Global Offshore Oil & Gas Rig Market is expected to grow at a steady CAGR of 5.69% in the forecast period to reach USD22,522.64 million by 2027.
The market is driven by the rise in the demand for oil & gas across the globe and increasing investments by the public and private players to boost the oil & gas industry. Also, the positive economic growth worldwide and volatile oil process and exhausting oil reserves are expected to propel the demand for the Global Offshore Oil & Gas Rig Market over the next five years.
Rapid industrialization and urbanization are generating the demand for fuel across the globe. Oil & gas production is necessary to provide energy to run the operations. They find wide applications in transportation, power production, manufacturing industry and other applications and with the growth of the industries, the demand for offshore oil & gas rigs is expected to grow at a significant rate in the forecast period.
Several government authorities across the globe are raising their capital expenditure (CAPEX) to attract the energy investors into their country. Market players are investing to find new innovative solutions to fulfil the energy requirements across the globe.
Jackups was the dominant segment in 2021 and held 66.02% of the overall market share
The segment is expected to maintain its dominance through the next five years. Jackups offers several advantages over the other offshore drilling platforms including their ability to be quickly deployed and easy movement between locations. They are the most cost-effective offshore drilling platform as they require fewer crew as compared to its counterparts.
Objective of the Study:
To analyze the historical growth in the market size of the Global Offshore Oil & Gas Rig Market from 2017 to 2021. To estimate and forecast the market size of the Global Offshore Oil & Gas Rig Market from 2022E to 2027F and growth rate until 2027F. To classify and forecast the Global Offshore Oil & Gas Rig Market based on type, water depth, regional distribution, and company. To identify drivers and challenges for the Global Offshore Oil & Gas Rig Market. To examine competitive developments such as expansions, new product launches, mergers, and acquisitions, etc., in the Global Offshore Oil & Gas Rig Market. To conduct pricing analysis for the global offshore oil and gas rig market. To identify and analyze the profile of leading players operating in the Global Offshore Oil & Gas Rig Market.
Company Profiles: Detailed analysis of the major companies present in the Global Offshore Oil & Gas Rig Market.
Halliburton Co. Valaris Limited Baker Hughes Company Sembcorp Marine Ltd Schlumberger Limited China Oilfield Services Limited Samsung Heavy Industries Co. Ltd indal Drilling & Industries Limited Keppel Offshore & Marine ADNOC Drilling Arabian Drilling Company Shelf Drilling, Ltd Saipem S.p.A. Maersk Drilling A/S Transocean Ltd Scientific Drilling International Leam Drilling Systems, Inc. Nov Inc. Petroleo Brasileiro S.A. Nabors Industries Ltd. Seadrill Limited
Years considered for this report:
Historical Years: 2017-2020 Base Year: 2021 Estimated Year: 2022E Forecast Period: 2023F-2027F
Offshore Oil & Gas Rig Market, By Type:
Jackups Semisubmersibles Drill Ships Others
Offshore Oil & Gas Rig Market, By Water Depth:
Shallow Water Deepwater Ultra-deepwater
Offshore Oil & Gas Rig Market, By Region:
Asia-Pacific China India Malaysia Singapore Indonesia South Korea Australia Rest of Asia-Pacific Middle East & Africa Saudi Arabia UAE Qatar Iran Egypt Bahrain Rest of Middle East & Africa Europe Norway United Kingdom Spain Azerbaijan Turkey Russia Netherlands Rest of Europe North America United States Mexico Canada South America Brazil Trinidad Colombia Rest of South America
For more information about this report visit
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets