Offshore Drilling - Global Market Outlook (2016-2022)
According to Stratistics MRC, the Global Offshore Drilling market is accounted for $83.95 billion in 2015 and is expected to reach $124.56 billion by 2022 growing at a CAGR of 5.8%. The offshore drilling market is expected to show moderate growth over the forecast period. Some of the primary factors driving the offshore drilling market are increasing demand for oil & gas and huge investments on new offshore reserves. However, offshore drilling market is inhibited by the regulations regarding environment & low oil prices which favors environment and affect the market.
Offshore contract drilling segment among services, is expected to dominate the market followed by offshore directional drilling. This proliferating market is set by the less oil prices since mid-2014, either postponement or cancellations of contract lead by lower day rates are further boasting the market demand. The present ongoing activities around South China Sea is the one of the main factors favoring the Asia Pacific market, due to which the market is expected to grow with highest rate.
Some of the key players of the Offshore Drilling market include Atwoods Oceanics, Baker Hughes Incorporated, China Oilfield Services Limited, Diamond Offshore Drilling Inc., Dolphin Drilling, Ensco PLC., Halliburton Company, KCA Deutag, Maersk Drilling, Nabors Industries Ltd, Noble Corporation, Paragon Offshore PLC., Schlumberger Limited, Scientific Drilling International, Seadrill Limited, Superior Energy Services, Transocean Ltd. and Weatherford International Ltd.
Applications Covered: Deepwater Drilling Shallow Water Drilling Ultra-Deepwater Drilling
Services Covered: Offshore Contract Drilling Offshore Directional Drilling Offshore Logging While Drilling (LWD) Offshore Measurement While Drilling (MWD) Subsea Production & Processing
Regions Covered: North America US Canada Mexico Europe Germany France Italy UK Spain Rest of Europe Asia Pacific Japan China India Australia New Zealand Rest of Asia Pacific Rest of the World Middle East Brazil Argentina South Africa Egypt
What our report offers: Market share assessments for the regional and country level segments Market share analysis of the top industry players Strategic recommendations for the new entrants Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations) Strategic recommendations in key business segments based on the market estimations Competitive landscaping mapping the key common trends Company profiling with detailed strategies, financials, and recent developments Supply chain trends mapping the latest technological advancements