Market Overview:
The global land 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, metal and mining, and construction and building applications across the globe. Additionally, the growing population and rapid industrialization in emerging economies are also propelling the demand for land drilling rigs in these regions. However, volatility in crude oil prices may restrain the growth of this market to some extent during the forecast period. On basis of type, conventional rigs accounted for a larger share of the global land drilling rigs market in 2017. This segment is projected to grow at a CAGR of 5% during 2018-2030 owing to its high efficiency as compared with mobile rigs. Mobile rigs are gaining popularity due their easy transportation ability; they are expected to grow at a higher CAGR than conventional rigs over next 10 years . On basis on application ,the oil & gas industry held majority share (in terms revenue)of global land drilling rig s mar ket i n 201 7 . I t i s projected t o maintain its dominance throughout th e forecast period owing t o rising demand f or energy worldwide . However ,metal & mining industry is anticipated t o witness highest growth rate duri ng th e forecas t per iod as it undergoes rapid expansion due t o increase in consumption of metals globally .
Product Definition:
A land drilling rig is a large, mobile piece of equipment used to drill for oil or natural gas. Land drilling rigs are typically used in areas where there is no access to a waterway for offshore rigs. They are also used when the terrain is too difficult or expensive to build an offshore rig.
Conventional Rigs:
Conventional rigs are the most widely used drilling equipment in the global market. It is a rig that consists of a horizontal drill pipe, which is suspended above the surface of the ground by means of steel cables or rods. The conventional rig has witnessed significant changes over its lifetime owing to technological innovations and developments in oilfield services.
The conventional rigs were first developed during World War 2 as an alternative to rotary rigs for use on land surfaces with low permeability.
Mobile Rigs:
Mobile rigs are used in drilling rigs to provide support for the drilling rig and it's equipment. The mobile rig is a self-propelled chassis that can be moved around the site to allow access for maintenance, repairs, and changing of positions according to requirements. It also helps in carrying heavy loads at low speed which increases operational efficiency by reducing wear & tear on drill pipes & other equipment.
The global market size was valued at USD 1,849 million in 2016.
Application Insights:
The oil and gas industry accounted for the largest market share in 2017. The growth of this segment is attributed to the increasing demand for petroleum products, such as natural gas and crude oil, across the globe. In addition, growing investments by various companies in exploration activities are expected to drive the global land drilling rigs market over the forecast period.
The metal and mining industry is anticipated to witness significant growth over the forecast period owing to rising demand for metals from various end-use industries worldwide. Increasing investment by governments of different countries in order to increase mineral production is also a key factor driving this segment globally. For instance, according with data published by World Bank regarding government expenditure on extractive sector (excluding subsidies), China invested around USD 100 billion between January 2014 and December 2015 which was more than double than that spent during previous years (between January 2000 and December 2002).
Regional Analysis:
North America dominated the global land drilling rigs market in 2016 with a revenue share of over 35%. The growth is attributed to the presence of prominent players such as Halliburton, Schlumberger and bitumen. These companies are engaged in extensive R&D activities to develop advanced technologies for enhanced oil recovery. This has resulted in increased adoption of land drilling rigs for onshore and offshore applications across North America.
The Asia Pacific region is expected to witness significant growth over the forecast period owing to increasing government spending on infrastructure projects coupled with rising energy demand from developing economies such as China and India. In addition, growing exploration activities across this region will drive product demand further contributing towards regional growth during the forecast period.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Rising investments in oil & gas exploration and production
- Proliferation of unconventional hydrocarbon resources such as shale gas and tight oil
- 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
Land Drilling Rigs Market Research Report
By Type
Conventional Rigs, Mobile Rigs
By Application
Oil and Gas industry, Metal and Mining Industry, Construction and Building
By Companies
Archer, Helmerich & Payne, KCA Deutag, Nabors Industries, National Oilwell Varco, Weatherford, Archer
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
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Land Drilling Rigs Market Report Segments:
The global Land Drilling Rigs market is segmented on the basis of:
Types
Conventional Rigs, Mobile Rigs
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
Oil and Gas industry, Metal and Mining Industry, Construction and Building
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:
- Archer
- Helmerich & Payne
- KCA Deutag
- Nabors Industries
- National Oilwell Varco
- Weatherford
- Archer
Highlights of The Land 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:
- Conventional Rigs
- Mobile Rigs
- By Application:
- Oil and Gas industry
- Metal and Mining Industry
- Construction and Building
- 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 Land 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
- 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 land drilling rig is a large, heavy machine used to drill holes in the ground. The rig typically consists of a drill bit, a motor, and other equipment mounted on an arm or platform.
Some of the key players operating in the land drilling rigs market are Archer, Helmerich & Payne, KCA Deutag, Nabors Industries, National Oilwell Varco, Weatherford, Archer.
The land drilling rigs 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 Land 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 Land Drilling Rigs Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Land 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 Land 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 Land Drilling Rigs Market Size & Forecast, 2018-2028 4.5.1 Land Drilling Rigs Market Size and Y-o-Y Growth 4.5.2 Land Drilling Rigs Market Absolute $ Opportunity
Chapter 5 Global Land Drilling Rigs 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 Land Drilling Rigs Market Size Forecast by Type
5.2.1 Conventional Rigs
5.2.2 Mobile Rigs
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Land Drilling Rigs 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 Land Drilling Rigs Market Size Forecast by Applications
6.2.1 Oil and Gas industry
6.2.2 Metal and Mining Industry
6.2.3 Construction and Building
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Land 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 Land 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 Land Drilling Rigs Analysis and Forecast
9.1 Introduction
9.2 North America Land Drilling Rigs 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 Land Drilling Rigs Market Size Forecast by Type
9.6.1 Conventional Rigs
9.6.2 Mobile Rigs
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 Land Drilling Rigs Market Size Forecast by Applications
9.10.1 Oil and Gas industry
9.10.2 Metal and Mining Industry
9.10.3 Construction and Building
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 Land Drilling Rigs Analysis and Forecast
10.1 Introduction
10.2 Europe Land Drilling Rigs 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 Land Drilling Rigs Market Size Forecast by Type
10.6.1 Conventional Rigs
10.6.2 Mobile Rigs
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 Land Drilling Rigs Market Size Forecast by Applications
10.10.1 Oil and Gas industry
10.10.2 Metal and Mining Industry
10.10.3 Construction and Building
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 Land Drilling Rigs Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Land Drilling Rigs 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 Land Drilling Rigs Market Size Forecast by Type
11.6.1 Conventional Rigs
11.6.2 Mobile Rigs
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 Land Drilling Rigs Market Size Forecast by Applications
11.10.1 Oil and Gas industry
11.10.2 Metal and Mining Industry
11.10.3 Construction and Building
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 Land Drilling Rigs Analysis and Forecast
12.1 Introduction
12.2 Latin America Land Drilling Rigs 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 Land Drilling Rigs Market Size Forecast by Type
12.6.1 Conventional Rigs
12.6.2 Mobile Rigs
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 Land Drilling Rigs Market Size Forecast by Applications
12.10.1 Oil and Gas industry
12.10.2 Metal and Mining Industry
12.10.3 Construction and Building
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) Land Drilling Rigs Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Land Drilling Rigs 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) Land Drilling Rigs Market Size Forecast by Type
13.6.1 Conventional Rigs
13.6.2 Mobile Rigs
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) Land Drilling Rigs Market Size Forecast by Applications
13.10.1 Oil and Gas industry
13.10.2 Metal and Mining Industry
13.10.3 Construction and Building
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 Land Drilling Rigs Market: Competitive Dashboard
14.2 Global Land Drilling Rigs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Archer
14.3.2 Helmerich & Payne
14.3.3 KCA Deutag
14.3.4 Nabors Industries
14.3.5 National Oilwell Varco
14.3.6 Weatherford
14.3.7 Archer