Market Overview:
The global geological drilling 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 mineral and coal resources is also propelling the growth of this market. The global geological drilling rig market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into core drilling rigs, water source drilling rigs, prospecting rigs, and others. The core drilling rigs segment is anticipated to hold a major share in terms of revenue in 2018 owing to its widespread use in various applications such as coal field exploration & development activities; oilfield exploration & production; metallurgy (steelmaking); mineral resource exploration (gold/silver/copper deposits etc.), nuclear industry (uranium mining), among others). On the basis of application, it can be classified into six segments: Coal Field; Oil Field; Metallurgy Industry; Mineral Resources Exploration Industry ; Nuclear Power Plant Industry ; Others . Among these segments , Coal Field Segment will have highest CAGR due high consumption rate all over world specially in China .
Product Definition:
A geological drilling rig is a machine that is used to drill into the earth to collect information about its composition and structure. This information can be used to help map out the earth's subsurface and identify potential mineral deposits.
Core Drilling Rig:
Core drilling rig is a equipment used in petroleum and natural gas extraction. It's main function is to extract the resource from the ground by making multiple holes along a wellbore. The resource can be oil, gas or both petroleum and natural gas. Core drilling rigs are mainly used for exploration, development as well as production of these resources but they can also be used for other applications like water wells (for groundwater exploration) or coal bed methane extraction (if we are talking about shale beds).
Water Source Drilling Rig:
Water source drilling rig is used to obtain water for hydraulic fracturing or fracking operation. It is a device that extracts oil and gas from the ground by means of wells. The main function of this rig includes installation, design, and maintenance of wellbores in order to extract hydrocarbons such as oil & gas.
Application Insights:
The market is segmented on the basis of application into coal field, oil & gas, metallurgy, mineral exploration and others. The coal field was estimated as the largest segment in 2017 owing to its rising demand across various countries including China, India and Japan. Moreover, increasing use of drilling rigs for Coal Bed Methane (CBM) extraction is expected to drive the product demand over the forecast period.
Coal bed methane or CBM is a fossil fuel extracted from coal formations containing methane gas which can be used directly as a fuel or converted into methanol which has a higher energy content than normal petrol/gasoline derivatives. Increasing use of CBM in power generation applications coupled with growing need for electricity across various regions including Asia Pacific will further boost industry growth over the coming years.
Regional Analysis:
North America dominated the global market in 2017. The U.S., specifically, is one of the most prominent regional markets owing to its extensive use for unconventional drilling activities, such as shale gas and tight oil extraction from wells. Europe accounted for a significant share of global revenue in 2017 due to the presence of major players such as Halliburton and TechnipFMC; however, it is expected to lose out on market share over the forecast period owing to rising competition from other regions.
Asia Pacific region is anticipated to witness lucrative growth over the forecast period with China at its forefront.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Rising investment in oil & gas exploration and production
- Proliferation of shale gas exploration and development
- Stringent environmental regulations for drilling operations that promote the use of more efficient rigs
- Technological advancements that improve the safety, efficiency, and productivity of drilling rigs
Scope Of The Report
Report Attributes
Report Details
Report Title
Geological Drilling Rig Market Research Report
By Type
Core Drilling Rig, Water Source Drilling Rig, Prospecting Rig, Others
By Application
Coal Field, Oil, Metallurgy, Mineral, Nuclear Industry, Others
By Companies
Oil States International, Veristic Technologies, Terra Sonic International, American Jereh International, Liebherr, Gonzales Electrical Systems, Basic Equipment, Diedrich Drill, Loos & Co, Axon Energy Products, Oil States International, Service King Mfg, Soilmec North America, Gus Pech Mfg, Schramm, STI
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
211
Number of Tables & Figures
148
Customization Available
Yes, the report can be customized as per your need.
Global Geological Drilling Rig Market Report Segments:
The global Geological Drilling Rig market is segmented on the basis of:
Types
Core Drilling Rig, Water Source Drilling Rig, Prospecting Rig, 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
Coal Field, Oil, Metallurgy, Mineral, Nuclear 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:
- Oil States International
- Veristic Technologies
- Terra Sonic International
- American Jereh International
- Liebherr
- Gonzales Electrical Systems
- Basic Equipment
- Diedrich Drill
- Loos & Co
- Axon Energy Products
- Oil States International
- Service King Mfg
- Soilmec North America
- Gus Pech Mfg
- Schramm
- STI
Highlights of The Geological Drilling 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:
- Core Drilling Rig
- Water Source Drilling Rig
- Prospecting Rig
- Others
- By Application:
- Coal Field
- Oil
- Metallurgy
- Mineral
- Nuclear 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 Geological Drilling 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.
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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?
A geological drilling rig is a large, heavy machine used to drill into the earth's surface. The rig typically consists of a number of platforms that can be raised and lowered using hydraulic jacks, allowing the operator to drill down into the ground at various depths.
Some of the major companies in the geological drilling rig market are Oil States International, Veristic Technologies, Terra Sonic International, American Jereh International, Liebherr, Gonzales Electrical Systems, Basic Equipment, Diedrich Drill, Loos & Co, Axon Energy Products, Oil States International, Service King Mfg, Soilmec North America, Gus Pech Mfg, Schramm, STI.
The geological drilling 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 Geological Drilling 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 Geological Drilling Rig Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Geological Drilling 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 Geological Drilling 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 Geological Drilling Rig Market Size & Forecast, 2018-2028
4.5.1 Geological Drilling Rig Market Size and Y-o-Y Growth
4.5.2 Geological Drilling Rig Market Absolute $ Opportunity
Chapter 5 Global Geological Drilling Rig 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 Geological Drilling Rig Market Size Forecast by Type
5.2.1 Core Drilling Rig
5.2.2 Water Source Drilling Rig
5.2.3 Prospecting Rig
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Geological Drilling Rig 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 Geological Drilling Rig Market Size Forecast by Applications
6.2.1 Coal Field
6.2.2 Oil
6.2.3 Metallurgy
6.2.4 Mineral
6.2.5 Nuclear Industry
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Geological Drilling 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 Geological Drilling 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 Geological Drilling Rig Analysis and Forecast
9.1 Introduction
9.2 North America Geological Drilling Rig 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 Geological Drilling Rig Market Size Forecast by Type
9.6.1 Core Drilling Rig
9.6.2 Water Source Drilling Rig
9.6.3 Prospecting Rig
9.6.4 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 Geological Drilling Rig Market Size Forecast by Applications
9.10.1 Coal Field
9.10.2 Oil
9.10.3 Metallurgy
9.10.4 Mineral
9.10.5 Nuclear Industry
9.10.6 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 Geological Drilling Rig Analysis and Forecast
10.1 Introduction
10.2 Europe Geological Drilling Rig 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 Geological Drilling Rig Market Size Forecast by Type
10.6.1 Core Drilling Rig
10.6.2 Water Source Drilling Rig
10.6.3 Prospecting Rig
10.6.4 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 Geological Drilling Rig Market Size Forecast by Applications
10.10.1 Coal Field
10.10.2 Oil
10.10.3 Metallurgy
10.10.4 Mineral
10.10.5 Nuclear Industry
10.10.6 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 Geological Drilling Rig Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Geological Drilling Rig 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 Geological Drilling Rig Market Size Forecast by Type
11.6.1 Core Drilling Rig
11.6.2 Water Source Drilling Rig
11.6.3 Prospecting Rig
11.6.4 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 Geological Drilling Rig Market Size Forecast by Applications
11.10.1 Coal Field
11.10.2 Oil
11.10.3 Metallurgy
11.10.4 Mineral
11.10.5 Nuclear Industry
11.10.6 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 Geological Drilling Rig Analysis and Forecast
12.1 Introduction
12.2 Latin America Geological Drilling Rig 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 Geological Drilling Rig Market Size Forecast by Type
12.6.1 Core Drilling Rig
12.6.2 Water Source Drilling Rig
12.6.3 Prospecting Rig
12.6.4 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 Geological Drilling Rig Market Size Forecast by Applications
12.10.1 Coal Field
12.10.2 Oil
12.10.3 Metallurgy
12.10.4 Mineral
12.10.5 Nuclear Industry
12.10.6 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) Geological Drilling Rig Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Geological Drilling Rig 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) Geological Drilling Rig Market Size Forecast by Type
13.6.1 Core Drilling Rig
13.6.2 Water Source Drilling Rig
13.6.3 Prospecting Rig
13.6.4 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) Geological Drilling Rig Market Size Forecast by Applications
13.10.1 Coal Field
13.10.2 Oil
13.10.3 Metallurgy
13.10.4 Mineral
13.10.5 Nuclear Industry
13.10.6 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 Geological Drilling Rig Market: Competitive Dashboard
14.2 Global Geological Drilling Rig Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Oil States International
14.3.2 Veristic Technologies
14.3.3 Terra Sonic International
14.3.4 American Jereh International
14.3.5 Liebherr
14.3.6 Gonzales Electrical Systems
14.3.7 Basic Equipment
14.3.8 Diedrich Drill
14.3.9 Loos & Co
14.3.10 Axon Energy Products
14.3.11 Oil States International
14.3.12 Service King Mfg
14.3.13 Soilmec North America
14.3.14 Gus Pech Mfg
14.3.15 Schramm
14.3.16 STI
