(MENAFN- Market Press Release) February 1, 2023 11:01 pm - Offshore Drilling Rigs Market size Witness Steady Expansion during 2031 Report Description
A recent market intelligence report that is published by Data Insights Partner on Offshore Drilling Rigs Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international. The research study also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and world Offshore Drilling Rigs Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of international Offshore Drilling Rigs Market is offered.
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In accordance with the report, the Offshore Drilling Rigs Market is projected to expand at a CAGR of X.X% over the period of forecast. The global Offshore Drilling Rigs Market was valued at USD XX.X Mn in 2019 and is expected to reach USD XX.X Mn in 2031, growing with a significant CAGR rate during the forecast period. The demand for natural gas and crude oil is always rising. The rise of the offshore drilling rigs industry is primarily being fueled by rising demand, expanding offshore discoveries, and stringent government restrictions on onshore natural gas and oil projects. The global market is divided into the following geographical regions: North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. Due to the substantial offshore natural gas and oil deposits, the Middle East and Africa will experience the fastest growth in the offshore drilling rigs market. The South Pars Gas Complex is situated in the Persian Gulf, the world's largest gas field. In several African nations, including Ghana, Angola, Namibia, and Nigeria, new oil reserves have been found and offshore drilling projects have begun. The market size for offshore drilling rigs will increase during the projection period as a result of several planned offshore exploration and production activities, particularly in the West African region.
Research Methodology:
To compile the detailed study of the global Offshore Drilling Rigs Market, a robust research methodology has been adopted that aids in determining the key insights and also evaluates the growth prospects of the Offshore Drilling Rigs Market. Comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our research methodology implements a mix of primary as well as secondary research. Our projects are initiated with secondary research, where we refer to a variety of sources including trade databases; government published documents, investor presentations, company annual reports, Industrial papers, and paid databases. To carry out secondary research, the analysts have collected the information through company annual reports, journals, company press releases, and paid databases that were referred to gain and identify better opportunities in the Offshore Drilling Rigs Market.
COVID-19 Scenario Analysis:
The COVID-19 outbreak has shaken the whole economy in the world. In this scenario some industries are doing quite well while others have been crushed. This section of the report has explored the overall status of the COVID-19 scenario. The industry witnessed a huge decline in terms of sales. Likewise, the Offshore Drilling Rigs Market was affected negatively due to the shutdown of manufacturing/processing facilities for some time. The analysts have also focused on the key measures that the companies are opting to withstand the harsh scenario.
Segment Covered:
Offshore Drilling Rigs Market Compounded annual growth rates for all segments have also been provided for 2019 to 2031. This report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
Key Segments:
Request for Sample with Complete TOC and Figures & Graphs @ Drilling Rigs Market research report includes an in-depth coverage of the industry with estimates & forecast from 2023 to 2031, for the following segments:
Offshore Drilling Rigs Market, By Type, 2023-2031 (USD Million)
Drillship
Jack-up Rig
Semi-submersible
Offshore Drilling Rigs Market, By Operating Depth, 2023-2031 (USD Million)
Shallow Water
Deep Water
Ultra-Water
Report Highlights:
The prime objective of the Offshore Drilling Rigs Market report is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing with different major regions and more than 30 major countries across the globe. During the report's production, extensive research and analysis were conducted. This research will assist readers in gaining a thorough understanding of the market.
Offshore Drilling Rigs Market, By Region, 2023-2031 (USD Million)
North America ( United States, Canada, Mexico)
Europe (Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
South Asia ( India, Pakistan and Bangladesh)
East Asia (China, Japan and South Korea)
South East Asia (Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
Middle East (Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
Africa (Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
South America (Brazil, Argentina, Colombia, Chile, and Rest of SA)
Oceania (Australia and New Zealand)
Companies Profiled:
To enhance their position in the global market, key suppliers/manufacturers are concentrating on business expansion and product innovation. Manufacturers/producers are also working on boosting their manufacturing capacity and product quality to gain a competitive advantage. The following are some of the prominent manufacturers in the worldwide Offshore Drilling Rigs Market:
Halliburton (U.S.)
Schlumberger (U.S.)
Weatherford International Inc (U.S.)
Seadrill (Bermuda)
Aban Offshore Limited (India)
China Oilfield Services Ltd. (China)
Ensco plc (UK)
Diamond Offshore Drilling Inc. (U.S.)
Vantage Drilling Co. (U.S.)
Pacific Drilling (U.S.)
KCA Deutag (UK)
Maersk Drilling (Denmark)
Nabors Industries Ltd (Bermuda)
Nobel Corporation (U.K.)
Full View of Report Description: Drilling Rigs Market Report Highlights:
Detailed analysis of the parent market
Key players' strategies and products supplied in the competitive landscape
Market segmentation in depth analysis
Market size in terms of volume and value, past, present, and future scenario
Potential and specialty areas, as well as geographical regions with promising growth prospects
Market players use this information to maintain and expand their market presence, thus it's important to have an unbiased perspective on market performance.
Recent advancements and technological trends in the industry