Market Overview:
The global floating rig market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increase in exploration and production activities in deepwater and ultra-deepwater areas is also fueling the growth of the floating rig market. However, volatility in oil prices may restrain the growth of this market during the forecast period. The global floating rig market can be segmented based on type, application, and region. Based on type, it can be divided into jackup rigs, semi-submersible rigs, and drillships. In terms of application, it can be classified into shallow water drilling rigs (SWD), deepwater drilling rigs (DWD), and ultra-deepwater drilling rigs (UDW). Geographically speaking, it has been analyzed across North America (the U.S., Canada., Mexico.), Latin America (Brazil., Argentina.), Europe(Norway., UK.), Asia Pacific(China., India.) ,and Middle East & Africa(Saudi Arabia.).
Product Definition:
A Floating Rig is a type of offshore drilling rig that floats on the surface of the sea. This type of rig is used to drill for oil and gas in shallow water. The importance of Floating Rig is that it can be moved to different locations easily, which makes it ideal for drilling in areas with limited access.
Jackup:
The Jackup is a drilling platform that is used in offshore oilfields. It can be considered as an alternative to theFloating Rig (FR). The jackup rig has advantages over the FR including lower cost of operation, and it's capability to operate in deeper waters. In addition, it can also function under harsh conditions such as high waves and strong currents.
Semi-Submersibles:
Semi-submersibles are a type of drilling equipment that is used to drill wells but can be lowered below the surface of the water or land for part of its operation. The semi-submersible rig consists of a cylindrical base with an attached well head, which is lowered into the borehole by means of chains or cables.
The advantage offered by this type over conventional subsea rigs is that it reduces cost and time associated with deploying.
Application Insights:
The global floating rig market has been segmented into three applications namely, shallow water, deepwater and ultra-deepwater. The shallow water segment dominated the overall application sector in 2017 with a share of over 60% in terms of revenue. This is attributed to the extensive use of these rigs for oil & gas exploration activities at various stages such as pre-salt, primary and secondary recovery among others.
Ultra-deepwater is anticipated to be the fastest growing application sector over the forecast period owing to increasing demand from countries including China India Japan South Korea Saudi Arabia United Arab Emirates among others. These are also known as HYSYC or hyperbaric ships which were designed for drilling operations at extreme depths below sea level where access to land would be difficult or impossible due to geographical constraints such as remote locations within oceans or on islands far from shorelines.
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 rig activities after years of stagnant growth. Countries such as China, India, South Korea, and Japan are witnessing an increasing demand for such vessels owing to their expanding oil & gas industries at sea.
The Middle East & Africa is anticipated to be the fastest-growing regional market from 2018 to 2030 due to growing offshore projects across countries such as Saudi Arabia and UAE. In addition, rising exploration activities off the coast of Angola will drive this industry further over the next eight years. Moreover, with growing investments from National Oil Companies (NOCs), including Royal Dutch Shell Plc., Total SA., ExxonMobil Corp., British Petroleum PLC., Eni SPA; Italy's Enel SpA; France's EDF Group; Russia's Gazprom Neft LLC.; Malaysia's Petronas Carigali Berhad; Kuwait Petroleum Corp.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries.
- Rising investment in exploration and production activities by oil and gas companies to meet the growing demand for energy.
- Proliferation of floating rigs as a more cost-effective option over traditional fixed rigs, which is driving their adoption by drilling contractors.
- Technological advancements that are making floating rigs more efficient and reliable, thereby increasing their attractiveness to drillers worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Floating Rig Market Research Report
By Type
Jackup, Semi-Submersibles, Drillships
By Application
Shallow Water, Deepwater, Ultra-Deepwater
By Companies
Transocean, Ensco, Noble Corporation, Nabors Industries, Seadrill
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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Floating Rig Market Report Segments:
The global Floating Rig market is segmented on the basis of:
Types
Jackup, Semi-Submersibles, Drillships
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
Shallow Water, 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:
- Transocean
- Ensco
- Noble Corporation
- Nabors Industries
- Seadrill
Highlights of The Floating Rig 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:
- Jackup
- Semi-Submersibles
- Drillships
- By Application:
- Shallow Water
- 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 Floating Rig 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
A floating rig is a type of offshore drilling rig that uses buoyancy to maintain its position in the water.
Some of the key players operating in the floating rig market are Transocean, Ensco, Noble Corporation, Nabors Industries, Seadrill.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Floating Rig 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. Floating Rig Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Floating Rig Market - Supply Chain
4.5. Global Floating Rig Market Forecast
4.5.1. Floating Rig Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Floating Rig Market Size (000 Units) and Y-o-Y Growth
4.5.3. Floating Rig Market Absolute $ Opportunity
5. Global Floating Rig 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. Floating Rig Market Size and Volume Forecast by Type
5.3.1. Jackup
5.3.2. Semi-Submersibles
5.3.3. Drillships
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Floating Rig 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. Floating Rig Market Size and Volume Forecast by Application
6.3.1. Shallow Water
6.3.2. Deepwater
6.3.3. Ultra-Deepwater
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Floating Rig 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. Floating Rig 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 Floating Rig 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. Floating Rig 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 Floating Rig Demand Share Forecast, 2019-2026
9. North America Floating Rig 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 Floating Rig 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 Floating Rig Market Size and Volume Forecast by Application
9.4.1. Shallow Water
9.4.2. Deepwater
9.4.3. Ultra-Deepwater
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Floating Rig Market Size and Volume Forecast by Type
9.7.1. Jackup
9.7.2. Semi-Submersibles
9.7.3. Drillships
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 Floating Rig Demand Share Forecast, 2019-2026
10. Latin America Floating Rig 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 Floating Rig 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 Floating Rig Market Size and Volume Forecast by Application
10.4.1. Shallow Water
10.4.2. Deepwater
10.4.3. Ultra-Deepwater
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Floating Rig Market Size and Volume Forecast by Type
10.7.1. Jackup
10.7.2. Semi-Submersibles
10.7.3. Drillships
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 Floating Rig Demand Share Forecast, 2019-2026
11. Europe Floating Rig 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 Floating Rig 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 Floating Rig Market Size and Volume Forecast by Application
11.4.1. Shallow Water
11.4.2. Deepwater
11.4.3. Ultra-Deepwater
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Floating Rig Market Size and Volume Forecast by Type
11.7.1. Jackup
11.7.2. Semi-Submersibles
11.7.3. Drillships
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potetial 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 Floating Rig Demand Share, 2019-2026
12. Asia Pacific Floating Rig 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 Floating Rig 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 Floating Rig Market Size and Volume Forecast by Application
12.4.1. Shallow Water
12.4.2. Deepwater
12.4.3. Ultra-Deepwater
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Floating Rig Market Size and Volume Forecast by Type
12.7.1. Jackup
12.7.2. Semi-Submersibles
12.7.3. Drillships
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 Floating Rig Demand Share, 2019-2026
13. Middle East & Africa Floating Rig 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 Floating Rig 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 Floating Rig Market Size and Volume Forecast by Application
13.4.1. Shallow Water
13.4.2. Deepwater
13.4.3. 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 Floating Rig Market Size and Volume Forecast by Type
13.7.1. Jackup
13.7.2. Semi-Submersibles
13.7.3. Drillships
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 Floating Rig Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Floating Rig Market: Market Share Analysis
14.2. Floating Rig Distributors and Customers
14.3. Floating Rig Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Transocean
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Ensco
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Noble Corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Nabors Industries
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Seadrill
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
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
