Market Overview:
The global multi-function 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, rising investments in infrastructure development, and growing urbanization. Based on type, the global multi-function drilling rig market is segmented into mobile drilling rigs and fixed drilling rigs. The mobile drilling rigs segment is expected to grow at a higher CAGR than the fixed drilling rigs segment during the forecast period from 2018 to 2030. This can be attributed to the increasing demand for onshore as well as offshore oil and gas exploration activities across different regions of the world. Based on application, the global multi-function drilling rig market is divided into municipal, building & construction, mining & quarrying, oil & gas production (onshore/offshore), and other applications such as water well boring etc.).
Product Definition:
A multi-function drilling rig is a piece of equipment used to drill holes in the ground for various purposes. This type of rig can be used for both oil and gas drilling, as well as water well drilling. Multi-function rigs are important because they can be used to do multiple tasks, which saves time and money.
Mobile Drilling Rig:
Mobile drilling rig is a equipment used for drilling, well logging and cementing in one system. It includes downhole tools such as electric motors, pumps & valves and surface tools including workover rigs or bitumen emulsions. The primary function of mobile drilling rig is to allow oilfield operators to carry out exploration & production activities with greater efficiency by reducing time-on-site associated with traditional systems.
Fixed Drilling Rig:
Fixed drilling rig is a type of drilling equipment used to drill, bore, and carry out other operations in the earth. It is designed for use where the depth of penetration or depth of cut cannot be changed while working in a particular area. The fixed drilling rigs are equipped with downhole tools including rotary table, bitumen rams and perforating guns among others which help in making accurate holes at required depths.
Application Insights:
The municipal segment accounted for the largest revenue share in 2017 and is anticipated to maintain its dominance over the forecast period. The growth of this application can be attributed to increasing urbanization across various regions, coupled with favorable government policies that promote investments in infrastructure development.
Building and other applications are projected to witness significant growth over the forecast period owing to rising demand for multi-function rigs for drilling, blasting & crushing operations on construction sites. Rig Type-building also provides flexibility in changing work schedules due to its mobile nature which helps operators cater to fluctuating customer requirements without having idle rigs at their disposal.
The oil and gas segment is expected register a CAGR of XX% from 2018to 2030 as operators continue their search for hydrocarbons despite numerous successful drilling campaigns across several basins including Persian Gulf, North Sea, South China Sea & East Africa Liard Basin among others globally.
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 significant demand for multi-function drilling rigs from countries such as China, India, Japan, South Korea, Australia and New Zealand. This can be attributed to increasing infrastructure activities coupled with growing oil & gas exploration activities in these regions.
The Asia Pacific regional market was followed by Europe which accounted for a share of over 20% in terms of revenue in 2017 owing to increased focus on infrastructural development projects across European countries such as Turkey and Russia that are anticipated to boost product demand during the forecast period. In addition, rising number of construction projects undertaken by public agencies including local government units (LGUs) is expected favorably impact industry growth during the projected period.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization
- Rising investments in drilling activities by oil and gas companies
- Technological advancements in drilling rigs that improve efficiency and safety
- Growing exploration of unconventional reserves such as shale gas and tight oil
- Expansion of the global fleet of multi-function drilling rigs
Scope Of The Report
Report Attributes
Report Details
Report Title
Multi-function Drilling Rig Market Research Report
By Type
Mobile Drilling Rig, Fixed Drilling Rig
By Application
Municipal, Building, Mining, Oil And Gas, Other
By Companies
Caterpillar, SANY, XCMG, Comacchio, BAUER Maschinen GmbH, CASAGRANDE, Epiroc, IMT SPA, EMCI, Wolf Metallurgical, Caterpillar, Sandvik Mining and Rock Technology, Foremost Industries, CUBEX, Stenuick International, IHC Fundex Equipment, Mait, Chicago Pneumatic, HUTTE Bohrtechnik, SUNWARD INTELLIGENT EQUIPMENT, Acker Drill, Fravizel, Beretta Alfredo, Furukawa Rock Drill, APAGEO
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
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Multi-function Drilling Rig Market Report Segments:
The global Multi-function Drilling Rig market is segmented on the basis of:
Types
Mobile Drilling Rig, Fixed 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
Municipal, Building, Mining, Oil And Gas, 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:
- Caterpillar
- SANY
- XCMG
- Comacchio
- BAUER Maschinen GmbH
- CASAGRANDE
- Epiroc
- IMT SPA
- EMCI
- Wolf Metallurgical
- Caterpillar
- Sandvik Mining and Rock Technology
- Foremost Industries
- CUBEX
- Stenuick International
- IHC Fundex Equipment
- Mait
- Chicago Pneumatic
- HUTTE Bohrtechnik
- SUNWARD INTELLIGENT EQUIPMENT
- Acker Drill
- Fravizel
- Beretta Alfredo
- Furukawa Rock Drill
- APAGEO
Highlights of The Multi-function 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:
- Mobile Drilling Rig
- Fixed Drilling Rig
- By Application:
- Municipal
- Building
- Mining
- Oil And Gas
- 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 Multi-function 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 multi-function drilling rig is a specialized drilling rig that can perform multiple tasks, such as drilling, blasting and well completion.
Some of the major companies in the multi-function drilling rig market are Caterpillar, SANY, XCMG, Comacchio, BAUER Maschinen GmbH, CASAGRANDE, Epiroc, IMT SPA, EMCI, Wolf Metallurgical, Caterpillar, Sandvik Mining and Rock Technology, Foremost Industries, CUBEX, Stenuick International, IHC Fundex Equipment, Mait, Chicago Pneumatic, HUTTE Bohrtechnik, SUNWARD INTELLIGENT EQUIPMENT, Acker Drill, Fravizel, Beretta Alfredo, Furukawa Rock Drill, APAGEO.
The multi-function 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 Multi-function 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 Multi-function Drilling Rig Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Multi-function 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 Multi-function 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 Multi-function Drilling Rig Market Size & Forecast, 2018-2028
4.5.1 Multi-function Drilling Rig Market Size and Y-o-Y Growth
4.5.2 Multi-function Drilling Rig Market Absolute $ Opportunity
Chapter 5 Global Multi-function 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 Multi-function Drilling Rig Market Size Forecast by Type
5.2.1 Mobile Drilling Rig
5.2.2 Fixed Drilling Rig
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Multi-function 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 Multi-function Drilling Rig Market Size Forecast by Applications
6.2.1 Municipal
6.2.2 Building
6.2.3 Mining
6.2.4 Oil And Gas
6.2.5 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Multi-function 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 Multi-function 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 Multi-function Drilling Rig Analysis and Forecast
9.1 Introduction
9.2 North America Multi-function 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 Multi-function Drilling Rig Market Size Forecast by Type
9.6.1 Mobile Drilling Rig
9.6.2 Fixed 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 Multi-function Drilling Rig Market Size Forecast by Applications
9.10.1 Municipal
9.10.2 Building
9.10.3 Mining
9.10.4 Oil And Gas
9.10.5 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 Multi-function Drilling Rig Analysis and Forecast
10.1 Introduction
10.2 Europe Multi-function 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 Multi-function Drilling Rig Market Size Forecast by Type
10.6.1 Mobile Drilling Rig
10.6.2 Fixed 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 Multi-function Drilling Rig Market Size Forecast by Applications
10.10.1 Municipal
10.10.2 Building
10.10.3 Mining
10.10.4 Oil And Gas
10.10.5 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 Multi-function Drilling Rig Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Multi-function 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 Multi-function Drilling Rig Market Size Forecast by Type
11.6.1 Mobile Drilling Rig
11.6.2 Fixed 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 Multi-function Drilling Rig Market Size Forecast by Applications
11.10.1 Municipal
11.10.2 Building
11.10.3 Mining
11.10.4 Oil And Gas
11.10.5 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 Multi-function Drilling Rig Analysis and Forecast
12.1 Introduction
12.2 Latin America Multi-function 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 Multi-function Drilling Rig Market Size Forecast by Type
12.6.1 Mobile Drilling Rig
12.6.2 Fixed 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 Multi-function Drilling Rig Market Size Forecast by Applications
12.10.1 Municipal
12.10.2 Building
12.10.3 Mining
12.10.4 Oil And Gas
12.10.5 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) Multi-function Drilling Rig Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Multi-function 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) Multi-function Drilling Rig Market Size Forecast by Type
13.6.1 Mobile Drilling Rig
13.6.2 Fixed 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) Multi-function Drilling Rig Market Size Forecast by Applications
13.10.1 Municipal
13.10.2 Building
13.10.3 Mining
13.10.4 Oil And Gas
13.10.5 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 Multi-function Drilling Rig Market: Competitive Dashboard
14.2 Global Multi-function Drilling Rig Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Caterpillar
14.3.2 SANY
14.3.3 XCMG
14.3.4 Comacchio
14.3.5 BAUER Maschinen GmbH
14.3.6 CASAGRANDE
14.3.7 Epiroc
14.3.8 IMT SPA
14.3.9 EMCI
14.3.10 Wolf Metallurgical
14.3.11 Caterpillar
14.3.12 Sandvik Mining and Rock Technology
14.3.13 Foremost Industries
14.3.14 CUBEX
14.3.15 Stenuick International
14.3.16 IHC Fundex Equipment
14.3.17 Mait
14.3.18 Chicago Pneumatic
14.3.19 HUTTE Bohrtechnik
14.3.20 SUNWARD INTELLIGENT EQUIPMENT
14.3.21 Acker Drill
14.3.22 Fravizel
14.3.23 Beretta Alfredo
14.3.24 Furukawa Rock Drill
14.3.25 APAGEO
