Market Overview:
The global offshore rigs market is expected to grow from USD XX million in 2018 to USD XX million by 2030, at a CAGR of X.X%. The growth of the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the increasing exploration and production activities in deepwater and ultra-deepwater regions are also contributing to the growth of the market. However, volatility in crude oil prices may restrain the growth of this market during the forecast period. The global offshore rigs market is segmented on basis of type, application, and region. On basis of type, it is segmented into jackups, semisubmersibles, drill ships,,and other types. On basis if application,,it is segmented into gas and oil,,mining,,and other applications,.Region wise,.the global offshore rigsmarketis dividedinto North America,.Latin America,.Europe.,Asia Pacific.,and Middle East & Africa. Some key players operating in this market include Schlumberger Limited.,Baker Hughes Incorporated.,Halliburton Company.,National Oilwell Varco Incorporated.,Weatherford International Ltd.
Product Definition:
Offshore rigs are oil and gas drilling platforms located in bodies of water away from the shoreline. Offshore rigs are used to extract oil and natural gas from beneath the ocean floor. The importance of offshore rigs is that they allow drilling in deep waters where there is an abundance of these resources.
Jackups:
The Jackups are floating production storage and offloading units. They are used in offshore rigs for the storage of oil and gas during transportation, production, refining processes. The main function of a jackup rig is to facilitate the process of drilling and also provide facilities for storing produced oil & gas along with facilities for loading/unloading onto supply vessels at the end of each day's work.
Semisubmersibles:
Semisubmersibles are floating structures that consist of a cylindrical portion called the cylinder, which is mounted on top of an elongated flat surface called the pylon. The cylinders used in semisubmersibles can be pre-manufactured and stored in the pylons until they are needed for installation.
The structure has several advantages over traditional subsea systems including reduced operational cost due to lower personnel requirement, simplified installation process with reduced mooring lines.
Application Insights:
The oil and gas segment dominated the global offshore rigs market in 2017, accounting for over 60.0% of the revenue share. The growth can be attributed to an increase in demand for drilling fluids, which is resulting in an upsurge in offshore rig activities across various regions including Latin America and Asia Pacific.
Offshore rigs are majorly used for exploration & production of oil & gas; however, their use is declining gradually across all other applications owing to technological advancements coupled with cost-effectiveness benefits offered by onshore platforms and facilities. Drilling fluids are required only during the process of drilling a well; thus, their requirement reduces significantly after a while if any platform or facility is located onshore as compared to its offshore counterpart.
Regional Analysis:
Asia Pacific offshore rigs market is expected to grow at the highest CAGR of XX% from 2018 to 2030. The growth can be attributed to increasing offshore drilling activities in countries, such as China and India. In 2017, China accounted for the maximum number of rig starts across the globe with jackup rig starts exceeding 1,200 units while semi-submersible rig starts exceeded 500 units in 2017. Furthermore, Asia Pacific is estimated to have around 60% of total oil & gas reserves and 50% total known petroleum reserves are located off its coast which makes it a lucrative destination for investment purposes.
The Middle East & Africa region accounted for over 25% share in global revenue in 2017 owing to rising demand from various sectors including energy sector and marine industry coupled with government support towards development projects especially related to offshore drilling activities along with other M&A deals between operators/builders.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries
- Rising investment in exploration and production activities by oil and gas companies
- Proliferation of new offshore drilling technologies that improve efficiency and reduce costs
- Stringent safety regulations for offshore drilling operations that increase the demand for rigs
- Growing trend of using floating rigs instead of fixed platforms to drill in deepwater areas
Scope Of The Report
Report Attributes
Report Details
Report Title
Offshore Rigs Market Research Report
By Type
Jackups, Semisubmersibles, Drill Ships, Other Types
By Application
Gas and Oil, Mining, Other
By Companies
Sembcorp, Keppel, COSCO, TSC, CPLEC, Blooming Drilling Rig, Shanghai Habo Offshore Engineering, Wison, Honghua Group
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
193
Number of Tables & Figures
136
Customization Available
Yes, the report can be customized as per your need.
Global Offshore Rigs Market Report Segments:
The global Offshore Rigs market is segmented on the basis of:
Types
Jackups, Semisubmersibles, Drill Ships, Other Types
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
Gas and Oil, Mining, 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:
- Sembcorp
- Keppel
- COSCO
- TSC
- CPLEC
- Blooming Drilling Rig
- Shanghai Habo Offshore Engineering
- Wison
- Honghua Group
Highlights of The Offshore 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:
- Jackups
- Semisubmersibles
- Drill Ships
- Other Types
- By Application:
- Gas and Oil
- Mining
- 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 Offshore 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.
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- 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?
Offshore rigs are oil and gas drilling platforms that are located offshore.
Some of the major companies in the offshore rigs market are Sembcorp, Keppel, COSCO, TSC, CPLEC, Blooming Drilling Rig, Shanghai Habo Offshore Engineering, Wison, Honghua Group.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Offshore 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 Offshore Rigs Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Offshore 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 Offshore 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 Offshore Rigs Market Size & Forecast, 2020-2028
4.5.1 Offshore Rigs Market Size and Y-o-Y Growth
4.5.2 Offshore 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 Jackups
5.2.2 Semisubmersibles
5.2.3 Drill Ships
5.2.4 Other Types
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 Gas and Oil
6.2.2 Mining
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Offshore 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 Offshore 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 Jackups
9.6.2 Semisubmersibles
9.6.3 Drill Ships
9.6.4 Other Types
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 Gas and Oil
9.10.2 Mining
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 Jackups
10.6.2 Semisubmersibles
10.6.3 Drill Ships
10.6.4 Other Types
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 Gas and Oil
10.10.2 Mining
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 Jackups
11.6.2 Semisubmersibles
11.6.3 Drill Ships
11.6.4 Other Types
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 Gas and Oil
11.10.2 Mining
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 Jackups
12.6.2 Semisubmersibles
12.6.3 Drill Ships
12.6.4 Other Types
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 Gas and Oil
12.10.2 Mining
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 Jackups
13.6.2 Semisubmersibles
13.6.3 Drill Ships
13.6.4 Other Types
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 Gas and Oil
13.10.2 Mining
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 Offshore Rigs Market: Competitive Dashboard
14.2 Global Offshore Rigs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sembcorp
14.3.2 Keppel
14.3.3 COSCO
14.3.4 TSC
14.3.5 CPLEC
14.3.6 Blooming Drilling Rig
14.3.7 Shanghai Habo Offshore Engineering
14.3.8 Wison
14.3.9 Honghua Group
