Market Overview:
The global drilling rigs 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 increasing exploration and production activities in offshore areas are also contributing to the growth of this market. The global drilling rigs market is segmented on the basis of type, application, and region. On the basis of type, it is divided into land rigs, barge rigs, platform rigs, drillship, and others. The land rig segment dominates this market owing to its low cost as compared to other types of drilling rigs available in this market.
Product Definition:
A drilling rig is a large, heavy piece of equipment that is used to drill holes in the earth. Drilling rigs are often used to extract oil and gas from the ground, or to drill water wells.
Land Rigs:
Land rigs are a type of drilling rig that is used to drill and produce oil & gas from the ground. It's primary function is to lower the drilling bit into the well, which allows for extraction of hydrocarbons such as natural gas and crude oil. The land rig can be distinguished from other types of rigs such as offshore rigs, where it operates on water; and icebreakers, which operate on frozen water or sea ice.
Barge Rigs:
Barge rigs are floating structures used to transfer drilling rig equipment and supplies to and from the drilling site. They are also used as a base for supply deliveries, allowing the drill pipes to be laid on top of them. The term “barge” is generally associated with large flat-bottomed boats that carry heavy loads over water; however, in this case it refers to a specialized type of floatation mechanism that is used in offshore oil & gas operations.
Application Insights:
The petroleum industry accounted for the largest revenue share of over 40% in 2017 and is expected to continue its dominance over the forecast period. The growth of this segment can be attributed to increasing demand for oil & gas from emerging economies such as China, India and Brazil. Furthermore, technological advancements coupled with high efficiency drilling rigs has led to a significant increase in production across all major regions including North America, Europe, Asia Pacific and Middle East & Africa.
Water well drilling application segment is expected register a CAGR around 5% from 2018 to 2030 owing to increased use of advanced technology water well drilling rigs across various regions including North America, Latin America and Middle East & Africa.
Regional Analysis:
North America dominated the global drilling rigs market in 2016 with a revenue share of over 35%. The growth is attributed to the presence of large oil & gas reserves and increasing offshore drilling activities. Moreover, technological advancements such as autonomous vehicles for rig operations are anticipated to drive industry growth. Asia Pacific is expected to witness significant growth over the forecast period owing to rapid development in economies such as China and India. In addition, growing demand for energy due to population increase will propel industry expansion.
The Middle East & Africa region is anticipated witness high gains owing to huge oil reserves present across several countries including Saudi Arabia.
The Latin American regional market has witnessed an increase in exploration activities mainly due rising petroleum reserve estimates across countries like Brazil.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising investments in drilling activities by oil and gas companies to meet the growing demand for energy
- Proliferation of new drilling technologies that improve efficiency and reduce costs
- Stringent environmental regulations that promote the use of more advanced drilling rigs
- Growing demand from offshore drilling operations
Scope Of The Report
Report Attributes
Report Details
Report Title
Drilling Rigs Market Research Report
By Type
Land Rigs, Barge Rigs, Platform Rigs, Drillship, Others
By Application
Petroleum Drilling Industry, Water Well Drilling, Mining Drilling Industry, Others
By Companies
Transocean, Ensco, Noble Corporation, Nabors Industries, Seadrill, 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
250
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Drilling Rigs Market Report Segments:
The global Drilling Rigs market is segmented on the basis of:
Types
Land Rigs, Barge Rigs, Platform Rigs, Drillship, 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
Petroleum Drilling Industry, Water Well Drilling, Mining Drilling Industry, Others
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
- Transocean
Highlights of The Drilling Rigs 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:
- Land Rigs
- Barge Rigs
- Platform Rigs
- Drillship
- Others
- By Application:
- Petroleum Drilling Industry
- Water Well Drilling
- Mining Drilling Industry
- Others
- 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 Drilling Rigs 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
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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?
Drilling rigs are large, heavy machines used to drill holes in the ground. They can be either stationary or mobile.
Some of the major companies in the drilling rigs market are Transocean, Ensco, Noble Corporation, Nabors Industries, Seadrill, Transocean.
The drilling rigs market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Drilling Rigs 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 Drilling Rigs Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Drilling Rigs 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 Drilling Rigs 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 Drilling Rigs Market Size & Forecast, 2020-2028
4.5.1 Drilling Rigs Market Size and Y-o-Y Growth
4.5.2 Drilling Rigs 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 Land Rigs
5.2.2 Barge Rigs
5.2.3 Platform Rigs
5.2.4 Drillship
5.2.5 Others
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 Petroleum Drilling Industry
6.2.2 Water Well Drilling
6.2.3 Mining Drilling Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Drilling Rigs 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 Drilling Rigs 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 Land Rigs
9.6.2 Barge Rigs
9.6.3 Platform Rigs
9.6.4 Drillship
9.6.5 Others
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 Petroleum Drilling Industry
9.10.2 Water Well Drilling
9.10.3 Mining Drilling Industry
9.10.4 Others
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 Land Rigs
10.6.2 Barge Rigs
10.6.3 Platform Rigs
10.6.4 Drillship
10.6.5 Others
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 Petroleum Drilling Industry
10.10.2 Water Well Drilling
10.10.3 Mining Drilling Industry
10.10.4 Others
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 Land Rigs
11.6.2 Barge Rigs
11.6.3 Platform Rigs
11.6.4 Drillship
11.6.5 Others
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 Petroleum Drilling Industry
11.10.2 Water Well Drilling
11.10.3 Mining Drilling Industry
11.10.4 Others
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 Land Rigs
12.6.2 Barge Rigs
12.6.3 Platform Rigs
12.6.4 Drillship
12.6.5 Others
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 Petroleum Drilling Industry
12.10.2 Water Well Drilling
12.10.3 Mining Drilling Industry
12.10.4 Others
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 Land Rigs
13.6.2 Barge Rigs
13.6.3 Platform Rigs
13.6.4 Drillship
13.6.5 Others
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 Petroleum Drilling Industry
13.10.2 Water Well Drilling
13.10.3 Mining Drilling Industry
13.10.4 Others
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 Drilling Rigs Market: Competitive Dashboard
14.2 Global Drilling Rigs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Transocean
14.3.2 Ensco
14.3.3 Noble Corporation
14.3.4 Nabors Industries
14.3.5 Seadrill
14.3.6 Transocean
