Offshore Drilling Rigs Industry Global Market Research Report Studies The Latest Offshore Drilling Rigs Industry aspects Market Share, Business Growth, Size, Trends, Demands, Business Overview and Offshore Drilling Rigs Industry Scenario During the Forecast 2023.
Overview:
The global offshore drilling rigs market report declares that the market can achieve a CAGR of 11.25% during the forecast period of 2018 to 2023. Market Research Future (MRFR), in their assessment, reveals possibilities that could transform the market outcome.
The Offshore Drilling Rigs Market outlook reveals factors like the inclusion of top-end instruments to increase safety and reduce cost, which would bring down the cost. The market is also banking on investments in the sector that are rising due to the interests shown by governments and private organizations. Also, it is going to profit from the competition of the giants.
However, the plummet in demand during the pandemic can initiate changes in the Offshore Drilling Rigs Market.
Competitive Landscape:
Schlumberger (U.S.), Weatherford International Inc (U.S.), Halliburton (U.S.), China Oilfield Services Ltd. (China), Seadrill (Bermuda), Aban Offshore Limited (India), Vantage Drilling Co. (U.S.), Ensco plc (UK), Diamond Offshore Drilling Inc. (U.S.), Maersk Drilling (Denmark), Pacific Drilling (U.S.), KCA Deutag (UK), Nabors Industries Ltd (Bermuda), Nobel Corporation (U.K.) and others are companies that can impact the global market of offshore drilling rigs with proper tactical moves. MRFR adds value to the analysis by recording the recent performances of all these companies to understand how the market is shaping up after getting impacted by trends and various strategic mechanisms. These mechanisms often include merger, tie-up, acquisition, and others.
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Industry News:
The slow downturn that started taking place in 2014 had hit hard the offshore drilling rigs this year. Since March, there were more than 40 terminations of various types of deals. This happened mostly in Africa and Western Europe. The year started on a positive note with promises of drilling corporations resuming their work in erstwhile closed areas. However, the market had to witness a global plummet in the demand for oil due to the pandemic attack. Regions like the US Gulf of Mexico, Canada, the Mediterranean, Latin America, India, Southeast Asia, Middle East, and Australia/New Zealand witnessed cancellation of contracts. The loss due to the COVID-19 crisis was so huge that several companies failed to cope with the situation. Noble Corp. a major company with influence on the market had to file bankruptcy.
In July 2020, the Danish company, Maersk Drilling, announced that they are planning to introduce technologies that would reduce the carbon emission rate. The company had announced that they intend to invest USD 1m in the California-based company Clean Energy Systems. This is to develop a path-breaking technology called Carbon-Negative Energy
Segmentation:
The offshore drilling rigs market has been segmented by MRFR analysts to understand details of the market and devise better strategies. These segments are operating depth and type.
By type, the global market report on the offshore drilling rigs can be segmented into jackup rigs, drillship, and semi-submersible rigs. Among these, the semi-submersible segments had the largest market share due to its ability to withstand the harshest conditions and ultra-deepwater where the depth is more than 3000 km.
By operating depth, the study on the global offshore drilling rigs market reveals three segments, deep water, shallow water, and ultra-deepwater. The ultra-deepwater segment had the better market coverage as most of the explorations are now happening in the ultra-deepwater area.
Regional Analysis:
Latin America is leading the global market as the region is witnessing a huge spur in offshore drilling rig market activities. Countries like Brazil is making an impact on the market. Liberalization of Mexican oil is also going to influence the market outcome.
Table Of Contents:
- Report Overview
- Offshore Drilling Rigs Market Trends and Competitive Landscapes
- Segmentation of Market by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Offshore Drilling Rigs Landscapes Analysis
- Europe Offshore Drilling Rigs Landscapes Analysis
- Asia Pacific Offshore Drilling Rigs Landscapes Analysis
- Latin America, Middle East & Africa Offshore Drilling Rigs Landscapes Analysis
- Major Players Profile
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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