Market Overview:
The global deepwater drilling market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increasing investment in deepwater drilling projects is also contributing to the growth of this market. The global deepwater drilling market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into fixed platform, floating platform, and others. The floating platform segment is expected to grow at a higher CAGR during the forecast period as compared to other segments owing to its advantages such as easy installation and low cost per barrel drilled (CPD). By application, it can be classified into deepwater drilling and ultra-deepwater drilling segments.
Product Definition:
Deepwater drilling is the process of extracting oil and gas from beneath the ocean floor, typically at depths of more than 1,000 feet. The practice has come under fire in recent years for its role in contributing to climate change, as well as its potential to cause environmental disasters. However, deepwater drilling remains an important source of energy for many countries around the world.
Fixed Platform:
Fixed platform is a structure that is fixed in the drilling location and used to lower or raise the drilling equipment. It can be permanent or portable depending on the type of operation. The market size spans global demand for oil & gas, renewable energy, mining and others.
Floating Platform:
Floating platform is a structure that is moored to the seabed and used for drilling purposes. It allows to carry out operations at greater depth, which would otherwise be impossible or difficult with conventional equipment. The main advantages of floating platforms are cost-effectiveness and ease of use in deep water conditions.
The market for floating platforms has been growing steadily over the past few years owing to its increasing demand from oil & gas companies operating in offshore locations across the globe.
Application Insights:
Ultra-deepwater drilling is anticipated to witness the fastest growth over the forecast period. This can be attributed to increasing demand for oil and gas from countries, such as China, India and Japan. Furthermore, ultra-deepwater drilling rigs are more expensive than their counterparts owing to advanced technologies being used in its construction. For instance, while a conventional deepwater drilling rig costs around USD 250 million, an ultra-deepwater one goes up into the range of USD 450 million.
Fixed platform drills are widely used for both deep and ultra-deep water applications owing to their low cost structure as compared with other types of offshore rigs. These platforms can be deployed in waters ranging from shallow coastal waters where there is ample space available onshore for them (upcoming or existing facilities) or where they would like access remote areas with minimal environmental impact (coastal zones).
Regional Analysis:
Asia Pacific dominated the global deepwater drilling market in 2016 with a revenue share of over 45%. The region is expected to continue its dominance over the forecast period. This can be attributed to increasing exploration activities in countries such as China, India, and Australia. Moreover, technological advancements coupled with rising demand for energy are expected to drive the regional market growth.
The Asia Pacific region is characterized by growing demand from end-users such as oil & gas companies and other industries that require access to ultra-deepwater resources for their operations. Rising investments by industry players are anticipated to further boost growth across this region during the forecast period. For instance, In January 2017, Royal Dutch Shell announced plans of investing USD X billion between 2017 and 2019 on developing offshore basins in Indonesia’s South Sea province which includes East Natuna Archipelago (ENA) block where deepwater drilling will be carried out after 2018 field development plan finalization and approval process is complete).
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising investment in deepwater drilling by oil and gas companies to explore new reserves
- Technological advancements in deepwater drilling that improve efficiency and safety
- Proliferation of floating production, storage, and offloading (FPSO) vessels that support deepwater drilling operations
- Growing focus on renewable energy sources such as wind and solar, which could lead to reduced demand for oil over the long term
Scope Of The Report
Report Attributes
Report Details
Report Title
Deepwater Drilling Market Research Report
By Type
Fixed Platform, Floating Platform, Others
By Application
Deepwater Drilling, Ultra-Deepwater Drilling
By Companies
Halliburton, Diamond Offshore, TransOcean, Subsea Geoservices, Schlumberger, Baker Hughes, Nabors Industries, China Oilfield Services, EnscoRowan, Saipem, Hercules Offshore
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
240
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Deepwater Drilling Market Report Segments:
The global Deepwater Drilling market is segmented on the basis of:
Types
Fixed Platform, Floating Platform, Others
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 Drilling, Ultra-Deepwater Drilling
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:
- Halliburton
- Diamond Offshore
- TransOcean
- Subsea Geoservices
- Schlumberger
- Baker Hughes
- Nabors Industries
- China Oilfield Services
- EnscoRowan
- Saipem
- Hercules Offshore
Highlights of The Deepwater Drilling 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:
- Fixed Platform
- Floating Platform
- Others
- By Application:
- Deepwater Drilling
- Ultra-Deepwater Drilling
- 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 Drilling 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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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?
Some of the major companies in the deepwater drilling market are Halliburton, Diamond Offshore, TransOcean, Subsea Geoservices, Schlumberger, Baker Hughes, Nabors Industries, China Oilfield Services, EnscoRowan, Saipem, Hercules Offshore.
The deepwater drilling market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Deepwater Drilling 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 Drilling Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Deepwater Drilling Market - Supply Chain
4.5. Global Deepwater Drilling Market Forecast
4.5.1. Deepwater Drilling Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Deepwater Drilling Market Size (000 Units) and Y-o-Y Growth
4.5.3. Deepwater Drilling Market Absolute $ Opportunity
5. Global Deepwater Drilling 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 Drilling Market Size and Volume Forecast by Type
5.3.1. Fixed Platform
5.3.2. Floating Platform
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Deepwater Drilling 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 Drilling Market Size and Volume Forecast by Application
6.3.1. Deepwater Drilling
6.3.2. Ultra-Deepwater Drilling
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Deepwater Drilling 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 Drilling 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 Drilling 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 Drilling 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 Drilling Demand Share Forecast, 2019-2026
9. North America Deepwater Drilling 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 Drilling 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 Drilling Market Size and Volume Forecast by Application
9.4.1. Deepwater Drilling
9.4.2. Ultra-Deepwater Drilling
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Deepwater Drilling Market Size and Volume Forecast by Type
9.7.1. Fixed Platform
9.7.2. Floating Platform
9.7.3. Others
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 Drilling Demand Share Forecast, 2019-2026
10. Latin America Deepwater Drilling 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 Drilling 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 Drilling Market Size and Volume Forecast by Application
10.4.1. Deepwater Drilling
10.4.2. Ultra-Deepwater Drilling
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Deepwater Drilling Market Size and Volume Forecast by Type
10.7.1. Fixed Platform
10.7.2. Floating Platform
10.7.3. Others
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 Drilling Demand Share Forecast, 2019-2026
11. Europe Deepwater Drilling 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 Drilling 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 Drilling Market Size and Volume Forecast by Application
11.4.1. Deepwater Drilling
11.4.2. Ultra-Deepwater Drilling
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Deepwater Drilling Market Size and Volume Forecast by Type
11.7.1. Fixed Platform
11.7.2. Floating Platform
11.7.3. Others
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 Drilling Demand Share, 2019-2026
12. Asia Pacific Deepwater Drilling 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 Drilling 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 Drilling Market Size and Volume Forecast by Application
12.4.1. Deepwater Drilling
12.4.2. Ultra-Deepwater Drilling
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Deepwater Drilling Market Size and Volume Forecast by Type
12.7.1. Fixed Platform
12.7.2. Floating Platform
12.7.3. Others
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 Drilling Demand Share, 2019-2026
13. Middle East & Africa Deepwater Drilling 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 Drilling 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 Drilling Market Size and Volume Forecast by Application
13.4.1. Deepwater Drilling
13.4.2. Ultra-Deepwater Drilling
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Deepwater Drilling Market Size and Volume Forecast by Type
13.7.1. Fixed Platform
13.7.2. Floating Platform
13.7.3. Others
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 Drilling Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Deepwater Drilling Market: Market Share Analysis
14.2. Deepwater Drilling Distributors and Customers
14.3. Deepwater Drilling Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Halliburton
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Diamond Offshore
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. TransOcean
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Subsea Geoservices
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Schlumberger
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Baker Hughes
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Nabors Industries
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. China Oilfield Services
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. EnscoRowan
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Saipem
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Hercules Offshore
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
