Market Overview:
The global deepwater and ultra-deepwater drilling service market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The market growth is attributed to the increasing demand for oil and gas across the globe. In addition, the increasing exploration and production activities in deepwater and ultra-deepwater regions are also contributing to the growth of this market. The global deepwater drilling service market is segmented by type into drillship, semisubmersible, and other vessels. The drillship segment is expected to hold the largest share of the global deepwater drilling service market during the forecast period. This can be attributed to its ability to operate in harsh environments and drill wells up to 10,000 feet below sea level. The global ultra-deepwater drilling service market is segmented by type into drillship, semisubmersible, tender assist rigs (TAR), dynamically positioned (DP) vessels, floating production storage & offloading (FPSO) units,,and other vessels .
Product Definition:
Drillship:
Drillship is a vessel type that has the ability to perform undersea operations for oil & gas E&P companies. It can also be used in other industries such as marine, wind energy and renewable energy among others. Drilling vessels are specialized vessels designed to carry out drilling operations using rotary drilling equipment at greater depths for both offshore and onshore oilfields.
Semisubmersible:
Semisubmersible drilling equipment is a type of drilling machinery that consists of a cylindrical shell with internal rams and pistons which are used to create a vacuum and then pull the drill string down into the wellbore. The drill string is made up of cables or pipes which transmit torque from the rotary table to bit or auger, this in turn creates enough force to drive the drill bit into the target formation.
Application Insights:
Ultra-deepwater drilling is anticipated to witness the highest growth over the forecast period owing to rising demand for oil and gas from countries, such as China, India, Japan and South Korea. In addition, ultra-deepwater drilling rigs are used in high risk deep water environments where a blowout can occur at any time. Drilling fluids are required to keep the drill bit cool during its long journey through rock layers containing natural gas and petroleum deposits. The use of different types of muds with different properties provides enhanced efficiency in drilling operations at greater depths compared with conventional onshore techniques.
Deepwater is expected to be fastest growing application segment due Deep Water Institute (DWI), which was established by Schlumberger Limited in 2016 as part of its initiative towards improving ultra-deepwater technology development for global energy access along with industry participants including BHP Billiton Ltd., StatoilHydro ASA., Repsol SACO E&P Mexico SA de CV., CNOOC Ltd.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has witnessed a significant increase in deepwater drilling activities owing to high oil & gas exploration activities across countries such as China, India, Indonesia, Vietnam and Philippines. Moreover, increasing offshore projects along with rising demand for energy is anticipated to drive ultra-deepwater drilling services market growth over the forecast period.
The North America deepwater and ultra-deep water drilling services industry accounted for a share of 24% of total revenue in 2017 owing to growing offshore E&P activity coupled with strong economic conditions that have led major companies involved in this business cycle. Furthermore, technological advancements associated with subsea engineering are also expected fuel industry growth over the coming years.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising prices of crude oil in the international market
- Proliferation of new exploration and production (E&P) technologies that enable drilling in deepwater and ultra-deepwater areas
- Stringent environmental regulations that promote the use of more advanced drilling technologies
- Consolidation among drilling service providers, which leads to increased efficiency, economies of scale, and improved competitiveness
Scope Of The Report
Report Attributes
Report Details
Report Title
Deepwater and Ultra-Deepwater Drilling Service Market Research Report
By Type
Drillship, Semisubmersible, Other
By Application
Deepwater, Ultra-Deepwater
By Companies
Schlumberger, BHGE, Halliburton, Diamond Offshore Drilling, Ensco Rowan, Saipem, Transocean
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Deepwater and Ultra-Deepwater Drilling Service Market Report Segments:
The global Deepwater and Ultra-Deepwater Drilling Service market is segmented on the basis of:
Types
Drillship, Semisubmersible, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Deepwater, Ultra-Deepwater
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Schlumberger
- BHGE
- Halliburton
- Diamond Offshore Drilling
- Ensco Rowan
- Saipem
- Transocean
Highlights of The Deepwater and Ultra-Deepwater Drilling Service Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Drillship
- Semisubmersible
- Other
- By Application:
- Deepwater
- Ultra-Deepwater
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Deepwater and Ultra-Deepwater Drilling Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Deepwater and ultra-deepwater drilling service is a specialized industry that provides drilling services for wells in deep water. These wells can be located anywhere in the world, but are typically found offshore. Deepwater and ultra-deepwater drilling service companies use specialized equipment and techniques to drill these difficult-to-reach wells.
Some of the major companies in the deepwater and ultra-deepwater drilling service market are Schlumberger, BHGE, Halliburton, Diamond Offshore Drilling, Ensco Rowan, Saipem, Transocean.
The deepwater and ultra-deepwater drilling service market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Deepwater and Ultra-Deepwater Drilling Service Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Deepwater and Ultra-Deepwater Drilling Service Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Deepwater and Ultra-Deepwater Drilling Service Market - Supply Chain
4.5. Global Deepwater and Ultra-Deepwater Drilling Service Market Forecast
4.5.1. Deepwater and Ultra-Deepwater Drilling Service Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Deepwater and Ultra-Deepwater Drilling Service Market Size (000 Units) and Y-o-Y Growth
4.5.3. Deepwater and Ultra-Deepwater Drilling Service Market Absolute $ Opportunity
5. Global Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Type
5.3.1. Drillship
5.3.2. Semisubmersible
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Application
6.3.1. Deepwater
6.3.2. Ultra-Deepwater
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Deepwater and Ultra-Deepwater Drilling Service Demand Share Forecast, 2019-2026
9. North America Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Application
9.4.1. Deepwater
9.4.2. Ultra-Deepwater
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Type
9.7.1. Drillship
9.7.2. Semisubmersible
9.7.3. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Deepwater and Ultra-Deepwater Drilling Service Demand Share Forecast, 2019-2026
10. Latin America Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Application
10.4.1. Deepwater
10.4.2. Ultra-Deepwater
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Type
10.7.1. Drillship
10.7.2. Semisubmersible
10.7.3. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Deepwater and Ultra-Deepwater Drilling Service Demand Share Forecast, 2019-2026
11. Europe Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Application
11.4.1. Deepwater
11.4.2. Ultra-Deepwater
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Deepwater and Ultra-Deepwater Drilling Service Market Sizeand Volume Forecast by Type
11.7.1. Drillship
11.7.2. Semisubmersible
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Deepwater and Ultra-Deepwater Drilling Service Demand Share, 2019-2026
12. Asia Pacific Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Application
12.4.1. Deepwater
12.4.2. Ultra-Deepwater
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Type
12.7.1. Drillship
12.7.2. Semisubmersible
12.7.3. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Deepwater and Ultra-Deepwater Drilling Service Demand Share, 2019-2026
13. Middle East & Africa Deepwater and Ultra-Deepwater Drilling Service Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Application
13.4.1. Deepwater
13.4.2. Ultra-Deepwater
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Deepwater and Ultra-Deepwater Drilling Service Market Size and Volume Forecast by Type
13.7.1. Drillship
13.7.2. Semisubmersible
13.7.3. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Deepwater and Ultra-Deepwater Drilling Service Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Deepwater and Ultra-Deepwater Drilling Service Market: Market Share Analysis
14.2. Deepwater and Ultra-Deepwater Drilling Service Distributors and Customers
14.3. Deepwater and Ultra-Deepwater Drilling Service Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Schlumberger
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. BHGE
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Halliburton
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Diamond Offshore Drilling
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Ensco Rowan
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Saipem
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Transocean
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
