Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Floating Rig Market by Type (Jackup, Semi-Submersibles, Drillships), By Application (Shallow Water, Deepwater, Ultra-Deepwater) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Floating Rig Market by Type (Jackup, Semi-Submersibles, Drillships), By Application (Shallow Water, Deepwater, Ultra-Deepwater) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 155670 3300 Machinery & Equipment 377 237 Pages 4.9 (43)

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.).

Global Floating Rig Industry Outlook

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.


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 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


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


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:


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.


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:

  1. Transocean
  2. Ensco
  3. Noble Corporation
  4. Nabors Industries
  5. Seadrill

Global Floating Rig Market Overview

Highlights of The Floating Rig Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Jackup
    2. Semi-Submersibles
    3. Drillships
  1. By Application:

    1. Shallow Water
    2. Deepwater
    3. Ultra-Deepwater
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. 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

Global Floating Rig Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. 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 Overview Financials Developments Strategic Outlook
      14.4.2. Ensco Overview Financials Developments Strategic Outlook
      14.4.3. Noble Corporation Overview Financials Developments Strategic Outlook
      14.4.4. Nabors Industries Overview Financials Developments Strategic Outlook
      14.4.5. Seadrill Overview Financials Developments Strategic Outlook
      14.4.6. COMPANY6 Overview Financials Developments Strategic Outlook
      14.4.7. COMPANY7 Overview Financials Developments Strategic Outlook
      14.4.8. COMPANY8 Overview Financials Developments Strategic Outlook
      14.4.9. COMPANY9 Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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