Market Overview:
The global deep well rig market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe. Additionally, the growing demand for deep well rigs from mining coal applications is also contributing to the growth of this market. However, volatility in crude oil prices may restrain the growth of this market in some regions during certain periods over the forecast period. The global deep well rig market can be segmented on the basis of type into rotary drilling rigs, impact rigs and compound drilling rigs. Rotary drilling rigs are expected to dominate this market throughoutthe forecast period owingto their high efficiency and productivity levels as comparedto other typesofrigs available in themarketplace . Regionally, themarketis segmentedin North America, Latin America, Europe Asia Pacific and Middle East & Africa (MEA).
Product Definition:
A deep well rig is a type of drilling equipment that is used to drill wells that are deeper than traditional shallow wells. These rigs can be used to extract water, oil, or gas from underground reservoirs. They are typically mounted on large trailers and can be moved from place to place as needed.
Rotary Drilling Rig:
Rotary drilling rig is a device used for drilling and extracting oil & gas resources from the earth's surface. It consists of rotary drill string, which is suspended above the ground by means of a cable or chain. The main components of rotary rigs include base, mast, control console, spade handle assembly (shovel), motor/gearbox and chainsaw.
The global market for rotary drilling rig was valued at USD 8.5 billion in 2016.
Impact Rig:
The impact rig is a device used to lower the drilling equipment into the wellbore. It helps in creating a stable platform for drilling operations and also provides safety measures to the workers operating around it. The impact rigs are lowered into wells by means of elevators or hydraulic systems.
There are two types of impact rigs, namely conventional and suspended rig, which differ in terms of design and operation capabilities respectively.
Application Insights:
The application segment is segregated into detection of oil and gas, mining coal, and others. The other applications include construction and geothermal energy production. Detection of oil and gas was the dominant application in 2017 with a market share of over 60%. This is attributed to the rising global production coupled with an increase in exploration activities for new reserves.
The increasing need for efficient drilling techniques to extract hydrocarbons from beneath the surface has been driving demand for DWRs across various applications globally. Furthermore, technological advancements have also played a significant role in increasing penetration rates across various regions due to innovations such as advanced mud motors that can operate at high rotational speeds while drilling through rock without any additional equipment cost or complex procedures required before.
Regional Analysis:
Asia Pacific dominated the global deep well rig market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for oil and gas, mining coal, and other minerals across emerging economies such as China, India, Indonesia among others. In addition, factors such as rising government initiatives for exploration of oil & gas reserves are anticipated to drive regional demand over the forecast period.
The Middle East & Africa region is also estimated to grow at a considerable rate due to increasing investments in offshore projects along with growing petroleum industry across countries including Saudi Arabia and UAE among others.
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
- Technological advancements in deep well drilling rigs that improve efficiency and reduce costs
- Growing investments by oil and gas companies in exploration and production activities
- Expansion of shale gas production in North America
Scope Of The Report
Report Attributes
Report Details
Report Title
Deep Well Rig Market Research Report
By Type
Rotary Drilling Rig, Impact Rig, Compound Drilling Rig
By Application
Detection of Oil and Gas, Mining Coal, Other
By Companies
Acker Drill Company, Boart Longyear, Comacchio Srl, Herrenknecht, EMCI, Deep Rock, Everdigm, Maersk Drilling, Total, Massenza Impianti di Perforazione, SOILMEC S.P.A.
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
219
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Deep Well Rig Market Report Segments:
The global Deep Well Rig market is segmented on the basis of:
Types
Rotary Drilling Rig, Impact Rig, Compound Drilling Rig
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
Detection of Oil and Gas, Mining Coal, Other
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:
- Acker Drill Company
- Boart Longyear
- Comacchio Srl
- Herrenknecht
- EMCI
- Deep Rock
- Everdigm
- Maersk Drilling
- Total
- Massenza Impianti di Perforazione
- SOILMEC S.P.A.
Highlights of The Deep Well 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:
- Rotary Drilling Rig
- Impact Rig
- Compound Drilling Rig
- By Application:
- Detection of Oil and Gas
- Mining Coal
- Other
- 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 Deep Well 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
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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?
Deep Well Rig is a platform that connects drilling contractors and oil and gas producers. It helps them find qualified drillers, manage their projects, and track the progress of their work.
Some of the major companies in the deep well rig market are Acker Drill Company, Boart Longyear, Comacchio Srl, Herrenknecht, EMCI, Deep Rock, Everdigm, Maersk Drilling, Total, Massenza Impianti di Perforazione, SOILMEC S.P.A..
The deep well rig market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Deep Well Rig Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Deep Well Rig Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Deep Well Rig Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Deep Well Rig Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Deep Well Rig Market Size & Forecast, 2020-2028
4.5.1 Deep Well Rig Market Size and Y-o-Y Growth
4.5.2 Deep Well Rig Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Rotary Drilling Rig
5.2.2 Impact Rig
5.2.3 Compound Drilling Rig
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Detection of Oil and Gas
6.2.2 Mining Coal
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Deep Well Rig Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Deep Well Rig Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Rotary Drilling Rig
9.6.2 Impact Rig
9.6.3 Compound Drilling Rig
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Detection of Oil and Gas
9.10.2 Mining Coal
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Rotary Drilling Rig
10.6.2 Impact Rig
10.6.3 Compound Drilling Rig
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Detection of Oil and Gas
10.10.2 Mining Coal
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Rotary Drilling Rig
11.6.2 Impact Rig
11.6.3 Compound Drilling Rig
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Detection of Oil and Gas
11.10.2 Mining Coal
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Rotary Drilling Rig
12.6.2 Impact Rig
12.6.3 Compound Drilling Rig
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Detection of Oil and Gas
12.10.2 Mining Coal
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Rotary Drilling Rig
13.6.2 Impact Rig
13.6.3 Compound Drilling Rig
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Detection of Oil and Gas
13.10.2 Mining Coal
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Deep Well Rig Market: Competitive Dashboard
14.2 Global Deep Well Rig Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Acker Drill Company
14.3.2 Boart Longyear
14.3.3 Comacchio Srl
14.3.4 Herrenknecht
14.3.5 EMCI
14.3.6 Deep Rock
14.3.7 Everdigm
14.3.8 Maersk Drilling
14.3.9 Total
14.3.10 Massenza Impianti di Perforazione
14.3.11 SOILMEC S.P.A.
