Offshore Drilling Rigs Market, By Type (Semi-Submersible, Jackup Rigs, and Drill Ships), By Application (Shallow Water Drilling, Deep Water Drilling, and Ultra Deep Water Drilling), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Trends, Analysis and Forecast Till 2029

Report Code: PMI41019 | Publish Date: June 2023 | No. of Pages: 168

Global Offshore Drilling Rigs Market Overview

Introduction:

An offshore drilling rig is also known as offshore platform or oil platform. Offshore drilling rig is a large structural facility for well drilling in order to explore, extract, store as well as process natural gas and petroleum which lies in rock formations beneath the seabed. An offshore drilling rig is fixed to ocean floor and it may consist of an artificial island or float. The drill operates through a hole in the hull. Drill ships can pilot to the drill site and then use a combination of anchors and propellers to correct for drift as the rig drills for oil. They can operate in deep water conditions. Semisubmersibles float on the surface of the ocean on top of huge, submerged pontoons. Depending on the terrain, you can choose between different types of drilling rigs: rotary drilling rigs, percussion drilling rigs, down the hole drilling rigs, top hammer drilling rigs etc. The global offshore drilling rigs market accounted for US$ 11092.5 million in 2020 and is estimated to be US$ 26825.5 million by 2030 and is anticipated to register a CAGR of 9.3%.

Global Offshore Drilling Rigs Market Dynamics

 

Rising demand oil across the globe

Increasing technological advancements in offshore drilling rig in order to face harsh environment, to meet increasing demand for oil and gas, and strict regulations against onshore drilling projects are some among the major factors propelling growth of the global market. Offshore natural oil and gas reservoirs have longer lifespan than onshore which is creating interest in the manufacturers to improve its production. This is propelling growth of the global offshore drilling rigs market. Government initiatives and bond with other countries on the export and import of oil is another driving factor for the growth of the target market. Increasing development in the technology of offshore drilling to meet the enormous demand for hydrocarbons is expected to increase the growth of offshore drilling rigs.

However, the adverse of such activities on the environment and unbalancing the natural process of the oceans, are the major factor hampering the growth of the target market.

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Global Offshore Drilling Rigs Market Segmentation

The global offshore drilling rigs market is segmented based on type, application, and region.

On the basis of type of global offshore drilling rigs market the target market has been segmented into semi-submersible, jack up rigs, and drill ships. On the basis of application, the target market has been segmented into shallow water drilling, deep water drilling, and ultra-deep-water drilling.

Regional Insights:

The global offshore drilling rigs market accounted for US$ 11092.5 million in 2020 and is estimated to be US$ 26825.5 million by 2030 and is anticipated to register a CAGR of 9.3%. On region the global offshore drilling rigs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  Asia Pacific is currently dominating the global offshore drilling rigs market due to abundant energy are available in these region and government support are expected to boost the growth of the target market. Latin America is expected to account major market share in terms of revenue as compared to that of other regions. The Gulf of Mexico is a large basin for oil production since the last decade. Offshore oil and gas production constitutes an indigenous energy source of hydrocarbon in Europe.

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Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2030

Market representation

Revenue in USD Million & CAGR from 2020 – 2030

Market Segmentation

By Type- Semi-Submersible, Jack up Rigs, and Drill Ships

By Application– Shallow Water Drilling, Deep Water Drilling, and Ultra Deep-Water Drilling

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global offshore drilling rigs market report based on type, application, and region

Global Offshore Drilling Rigs Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Offshore Drilling Rigs Market Key Players

 

The key players operating in the global offshore drilling rigs market includes Halliburton Company, Schlumberger Limited, Weatherford International Inc, Seadrill Ltd., 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., and Nobel Corporation.

Shell PLC:

They announced a significant oil and gas discovery in an offshore well in Namibia. The drilling started for the Graff-1 well in December 2021 and has found resources estimated at 250-300 million barrels of oil and gas equivalent

Global Offshore Drilling Rigs Market Company Profile

  • Halliburton Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Schlumberger Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Weatherford International Inc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Seadrill Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Aban Offshore Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • China Oilfield Services Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Ensco plc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Diamond Offshore Drilling Inc.,
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Vantage Drilling Co.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Pacific Drilling
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  KCA Deutag
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Maersk Drilling
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nabors Industries Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nobel Corporation.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Global Offshore Drilling Rigs Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Offshore Drilling Rigs Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Offshore Drilling Rigs Market, By Type 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Semi-Submersible
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Jack up Rigs
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Drill Ships
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  6. Global Offshore Drilling Rigs Market, By Application 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Segment Trends
    • Shallow Water Drilling
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Deep Water Drilling
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
    • Ultra-Deep-Water Drilling
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
  7. Global Offshore Drilling Rigs Market, By Region, 2020 – 2030, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
      • Y-o-Y Growth Analysis (%), 2020 – 2030
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • UK
        • France
        • Germany
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • India
        • Japan
        • South Korea
        • China
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Application, 2020 – 2030
      • Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  9. Company Profiles
  • Halliburton Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Schlumberger Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Weatherford International Inc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Seadrill Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Aban Offshore Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • China Oilfield Services Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Ensco plc
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Diamond Offshore Drilling Inc.,
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Vantage Drilling Co.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  Pacific Drilling
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  •  KCA Deutag
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Maersk Drilling
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nabors Industries Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nobel Corporation.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  1. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The Global Offshore Drilling Rigs Market report segments the market basis into type, application and region.

Increasing technological improvements in offshore drilling rigs to cope with severe environments, rising demand for oil and gas, and strict laws against onshore drilling projects are some of the primary drivers driving global market growth.

Middle-East and Africa is growing at the highest CAGR over 2021- 2026.

The leading players operating in the Global Offshore Drilling Rigs Market Halliburton Company, Schlumberger Limited, Weatherford International Inc, Seadrill Ltd., 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., and Nobel Corporation.