Offshore Drilling Rigs Market by Type (Jackup, Semi-Submersibles, Drillships), by Application (Shallow Water, Deepwater, Ultra-Deepwater) & Geography (North America, Latin America, Europe, the Middle East, Asia-Pacific, Africa, ROW) - Global Forecast to 2019
Offshore drilling rigs play a key role in oil and gas development. The ever-increasing offshore exploration and production activities across the globe and the drilling activities taking place at ultra-deep water depths are driving the market. On the other hand, issues associated with the environment, geopolitical turmoil, and a lack of skilled professionals, are adversely affecting market growth. Semi-submersibles have the highest growth rate, and are the most preferred rigs deployed for drilling. They are operational at water depths up to 7500 feet and are in high demand across the globe wherever offshore explorations and production activities take place. Drillships are also exhibiting a decent growth rate vis-à-vis ultra-deep water drilling activities. Drilling contractors are currently placing more orders for jackups due to increasing shallow water exploration activities in emerging markets.
Various secondary sources such as encyclopedias, directories, and databases have been used to identify and collect information that was useful for this extensive commercial study of the global offshore drilling rigs market. The primary sources—experts and suppliers from the industry—have all been interviewed to obtain and verify critical information, as well as to assess the future prospects of the offshore drilling rigs market. This report estimates the offshore drilling rigs market in terms of value. The market value is derived on the basis of average day rates for each rig and the utilization rates of a particular rig of a particular region with respect to a particular year.
We have also profiled leading players in this industry, noting their recent developments and other strategic industry activities. Some of the key companies profiled include Aban Offshore (India), Atwood Oceanics (U.S.), China Oilfield Services Ltd. (China), Diamond Offshore Drilling (U.S.), Ensco plc. (U.K.), Hercules Offshore Inc.(U.S.), KCA Deutag (U.K.), Maersk Drilling (Denmark), Nabors(Bermuda), Pacific Drilling (Luxemborg), Parker Drilling(U.S.), Rowan Companies Inc.(U.S.), Seadrill(Bermuda), Transocean(Switzerland), and Vantage Drilling (U.S.).
Latin America dominates the global offshore drilling rigs market. In Latin America, Brazil is the largest market and is led by Petrobras (Brazil), with investments in offshore regions for drilling and production. Asia-Pacific has the highest growth rate because of increasing shallow water explorations in the waters of Indonesia, Malaysia, and Australia.
The offshore drilling rigs market is segmented into six regions, namely, North America, Latin America, Europe, Africa, Asia-Pacific, the Middle East, and RoW. The offshore drilling rigs market is further segmented by types and application.
The report also touches upon various important aspects of the market. These include analysis of the value chain, Porter’s Five Forces model, the competitive landscape, and raw materials.