Market Overview:
The global oil and gas 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 investments in exploration and production activities are also contributing to the growth of this market. The global oil rig market is segmented on the basis of type into oil rigs and gas rigs. The oil rig segment is further sub-segmented into land-based rigs, offshore drilling platforms, and floating production storage & offloading (FPSO) vessels. The gas rig segment is further sub-segmented into onshore drilling rigs and offshore drilling platforms. On the basis of application,the global oi lrigsmarketis dividedinto OEMsand aftermarket segments .The OEMs seg ment i s di vi ded int o newbuildand replacementrigs .Th e af termark et segm ent i s di vi ded int o serviceand parts&maint enance .Th e North America region dominates th e glob al ol ibr igsm ar ket ,follow ed by Europe an d Asia Pacific regions .
Product Definition:
Oil and gas rigs are structures used in the drilling and production of oil and natural gas. The most common type of rig is the offshore platform, which is a large structure that supports a drilling deck, production facilities, living quarters for workers, as well as other support systems.
Oil rig:
An oil rig is a structure used to drill for oil or natural gas. It consists of a platform, which is built on the sea/ocean bed and suspended by chains or cables from large floating platforms. The rig's equipment includes one or more drilling pipes, which are lowered into the well by means of a cable attached to them; these pipes are then inserted into pre-drilled holes in the target formation and begin drilling.
Gas rig:
A gas rig is a device used for extracting petroleum or natural gas from the ground. It consists of several components including well head, processing plant, storage facilities and pipelines among others. The primary function of a gas rig is to extract the hydrocarbon from the ground by drilling and pumping techniques using various tools like hydraulic fracturing or fracking which involves high-pressure water injection into wells to create fractures in order to allow easier extraction of oil or natural gas.
Application Insights:
OEMs held the largest market share of over 80% in 2017. The major reason for this is that these are the rigs that are used in extreme cases, when there is no readymade solution for a particular task. For instance, if an offshore oil rig needs to be relocated because of an emergency situation such as a fire break out then it can only be done by means of an OEM.
The aftermarket segment is expected to grow at the fastest CAGR during the forecast period owing to increasing demand from existing and new wells across various regions including North America and Asia Pacific. This growth can be attributed to growing investments by operators in order to maintain their current production levels coupled with technological advancements made possible through advanced data analytics services offered by service providers onshore and offshore facilities respectively.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to witness moderate growth over the forecast period owing to a decline in oil rig count from 2013 to 2018. However, increasing shale gas exploration and production coupled with growing offshore drilling activities are anticipated to drive the regional market over the forecast period.
The Asia Pacific is estimated to be one of the fastest-growing regions during the forecast years due to rising demand for new wells and other associated activities across countries such as China, India, Indonesia, Malaysia and Vietnam. In addition, factors such as government support for hydrocarbon resources development are projectededto boost industry expansion over coming years. For instance; In January 2016; Government of India allowed 100% FDI in Oil & Gas sector which will help foreign companies invest up front capital into projects thereby boosting overall production levels within a given field or country (India).
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries.
- Rising prices of oil and gas, which encourages exploration and development of new reserves.
- Technological advances that make drilling faster, safer, and more efficient.
- Growing investment in the oil and gas industry by governments and private companies.
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil and Gas Rigs Market Research Report
By Type
Oil rig, Gas rig
By Application
OEMs, Aftermarket
By Companies
A.P. MOLLER - MAERSK, DIAMOND OFFSHORE DRILLING, Nabors Industries, Noble, Seadrill, TRANSOCEAN, A.P. MOLLER - MAERSK
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
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Oil and Gas Rigs Market Report Segments:
The global Oil and Gas Rigs market is segmented on the basis of:
Types
Oil rig, Gas 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
OEMs, Aftermarket
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:
- A.P. MOLLER - MAERSK
- DIAMOND OFFSHORE DRILLING
- Nabors Industries
- Noble
- Seadrill
- TRANSOCEAN
- A.P. MOLLER - MAERSK
Highlights of The Oil and Gas 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:
- Oil rig
- Gas rig
- By Application:
- OEMs
- Aftermarket
- 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 Oil and Gas 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?
Oil and gas rigs are large, mobile platforms used for extracting oil and natural gas from the ground.
Some of the major companies in the oil and gas rigs market are A.P. MOLLER - MAERSK, DIAMOND OFFSHORE DRILLING, Nabors Industries, Noble, Seadrill, TRANSOCEAN, A.P. MOLLER - MAERSK.
The oil and gas 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 Oil and Gas 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 Oil and Gas Rigs Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Oil and Gas 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 Oil and Gas 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 Oil and Gas Rigs Market Size & Forecast, 2020-2028
4.5.1 Oil and Gas Rigs Market Size and Y-o-Y Growth
4.5.2 Oil and Gas 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 Oil rig
5.2.2 Gas rig
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 OEMs
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Oil and Gas 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 Oil and Gas 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 Oil rig
9.6.2 Gas 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 Market Size Forecast by Applications
9.10.1 OEMs
9.10.2 Aftermarket
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 Oil rig
10.6.2 Gas 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 Market Size Forecast by Applications
10.10.1 OEMs
10.10.2 Aftermarket
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 Oil rig
11.6.2 Gas 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 Market Size Forecast by Applications
11.10.1 OEMs
11.10.2 Aftermarket
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 Oil rig
12.6.2 Gas 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 Market Size Forecast by Applications
12.10.1 OEMs
12.10.2 Aftermarket
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 Oil rig
13.6.2 Gas 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) Market Size Forecast by Applications
13.10.1 OEMs
13.10.2 Aftermarket
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 Oil and Gas Rigs Market: Competitive Dashboard
14.2 Global Oil and Gas Rigs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 A.P. MOLLER - MAERSK
14.3.2 DIAMOND OFFSHORE DRILLING
14.3.3 Nabors Industries
14.3.4 Noble
14.3.5 Seadrill
14.3.6 TRANSOCEAN
14.3.7 A.P. MOLLER - MAERSK
