Market Overview:
The global jack-up rig market is expected to grow from USD 9.5 billion in 2018 to USD 15.8 billion by 2030, at a CAGR of 5.7% from 2018 to 2030. The growth of the global jack-up rig market can be attributed to the increasing demand for oil and gas across the globe and rising investments in offshore drilling activities. Based on type, the global jack-up rig market is segmented into mobile offshore drilling units (MODU), turbine installation vessels (TIV), and barges. In terms of application, the global jack-up rig market is segmented into oil & gas and construction segments.
Product Definition:
A jack-up rig is a type of offshore drilling platform that is composed of a self-propelled floating hull fitted with legs, or jacks, that are raised to the surface and rest on the seabed to provide stability. Jack-up rigs are used for shallow water drilling applications in areas where there is relatively low wave action and seabed conditions permit the use of such a platform.
Mobile offshore Drilling Units (MODU):
Mobile offshore drilling units (MODU) is a type of mobile drilling platform used for oil and gas exploration in the water. It consists of an accommodation module, which can be used as a hotel, and two or four cylindrical modules connected by flexible shafts. The cylindrical modules are filled with oil-drilling equipment such as rotary drill pipes, reamers, artificial lift pumps etc., while the accommodation module contains living quarters and kitchen facilities.
Turbine Installation Vessel (TIV):
The turbine installation vessel (TIV) is a large, hollow metal cylinder that is used to lower the turbine onto the sea-bed during its installation. The TIV holds the turbine in position while it is lowered by means of a hydraulic mechanism and then raised to the surface for maintenance work or for extracting energy from turbines.
Application Insights:
The oil & gas application segment accounted for the largest revenue share in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for deep-water drilling from major oil companies such as BP, Statoil, Repsol, ConocoPhillips and ExxonMobil.
The rising need to develop new sources of energy along with growing concerns regarding climate change has led major economies including U.S., China, India and Brazil to increase their focus on renewable energy generation which is likely to boost offshore wind power generation projects across the world thereby driving demand for jacks-up rigs over the coming years.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has a large number of offshore projects, which are likely to be completed by 2030. Furthermore, increasing investments in offshore projects by China and India are anticipated to drive demand for jack-up rigs over the next eight years.
The Middle East & Africa is also expected to witness significant growth over the coming years owing to ongoing developments in countries such as Saudi Arabia and Qatar. In addition, upcoming oil & gas exploration activities off coast of Egypt are further anticipated boost regional growth during the forecast period.
North America accounted for more than 10% share of total revenue generated from 2016 to 2017; however, this region is projected witness sluggish growth rate compared with other regions due high maturity level of offshore industry within U.S.
Growth Factors:
- Increasing demand for oil and gas due to population growth and industrialization in developing countries.
- Rising prices of crude oil which is encouraging the exploration and production activities in offshore areas.
- Proliferation of new jack-up rigs with enhanced capabilities such as higher drilling depths, increased accommodation capacity, etc., is resulting in an increase in their demand across the globe.
- Stringent safety norms and regulations by various regulatory authorities are prompting operators to opt for safer jack-up rigs for their offshore operations thereby driving the market growth further.
Scope Of The Report
Report Attributes
Report Details
Report Title
Jack-Up Rig Market Research Report
By Type
Mobile offshore Drilling Units (MODU), Turbine Installation Vessel (TIV), Barges
By Application
Oil & Gas, Construction
By Companies
DSME, Maersk, Fox Oil Drilling, Seatrade Maritime, Shelf Drilling, Rowan, Kuok (PaxOcean), KCA DEUTAG, Diamond Offshore Drilling, COSL, Transocean, Seadrill, ENSCO, Halliburton, Noble, CIMC, Keppel, Sembcorp Marine Industries
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
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Jack-Up Rig Market Report Segments:
The global Jack-Up Rig market is segmented on the basis of:
Types
Mobile offshore Drilling Units (MODU), Turbine Installation Vessel (TIV), Barges
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 & Gas, Construction
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:
- DSME
- Maersk
- Fox Oil Drilling
- Seatrade Maritime
- Shelf Drilling
- Rowan
- Kuok (PaxOcean)
- KCA DEUTAG
- Diamond Offshore Drilling
- COSL
- Transocean
- Seadrill
- ENSCO
- Halliburton
- Noble
- CIMC
- Keppel
- Sembcorp Marine Industries
Highlights of The Jack-Up 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 offshore Drilling Units (MODU)
- Turbine Installation Vessel (TIV)
- Barges
- By Application:
- Oil & Gas
- Construction
- 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 Jack-Up 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 jack-up rig is a type of offshore drilling rig that uses a lifting mechanism to raise and lower the drill pipe. This allows the rig to access deeper waters or areas that are difficult or impossible to reach by other means.
Some of the major companies in the jack-up rig market are DSME, Maersk, Fox Oil Drilling, Seatrade Maritime, Shelf Drilling, Rowan, Kuok (PaxOcean), KCA DEUTAG, Diamond Offshore Drilling, COSL, Transocean, Seadrill, ENSCO, Halliburton, Noble, CIMC, Keppel, Sembcorp Marine Industries.
The jack-up rig market is expected to grow at a compound annual growth rate of 5.7%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Jack-Up Rig Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Jack-Up Rig Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Jack-Up Rig Market - Supply Chain
4.5. Global Jack-Up Rig Market Forecast
4.5.1. Jack-Up Rig Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Jack-Up Rig Market Size (000 Units) and Y-o-Y Growth
4.5.3. Jack-Up Rig Market Absolute $ Opportunity
5. Global Jack-Up Rig Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Jack-Up Rig Market Size and Volume Forecast by Type
5.3.1. Mobile offshore Drilling Units (MODU)
5.3.2. Turbine Installation Vessel (TIV)
5.3.3. Barges
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Jack-Up Rig Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Jack-Up Rig Market Size and Volume Forecast by Application
6.3.1. Oil & Gas
6.3.2. Construction
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Jack-Up Rig Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Jack-Up Rig Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Jack-Up Rig Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Jack-Up Rig Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Jack-Up Rig Demand Share Forecast, 2019-2026
9. North America Jack-Up Rig Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Jack-Up Rig Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Jack-Up Rig Market Size and Volume Forecast by Application
9.4.1. Oil & Gas
9.4.2. Construction
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Jack-Up Rig Market Size and Volume Forecast by Type
9.7.1. Mobile offshore Drilling Units (MODU)
9.7.2. Turbine Installation Vessel (TIV)
9.7.3. Barges
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Jack-Up Rig Demand Share Forecast, 2019-2026
10. Latin America Jack-Up Rig Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Jack-Up Rig Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Jack-Up Rig Market Size and Volume Forecast by Application
10.4.1. Oil & Gas
10.4.2. Construction
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Jack-Up Rig Market Size and Volume Forecast by Type
10.7.1. Mobile offshore Drilling Units (MODU)
10.7.2. Turbine Installation Vessel (TIV)
10.7.3. Barges
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Jack-Up Rig Demand Share Forecast, 2019-2026
11. Europe Jack-Up Rig Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Jack-Up Rig Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Jack-Up Rig Market Size and Volume Forecast by Application
11.4.1. Oil & Gas
11.4.2. Construction
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Jack-Up Rig Market Size and Volume Forecast by Type
11.7.1. Mobile offshore Drilling Units (MODU)
11.7.2. Turbine Installation Vessel (TIV)
11.7.3. Barges
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potenial Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Jack-Up Rig Demand Share, 2019-2026
12. Asia Pacific Jack-Up Rig Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Jack-Up Rig Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Jack-Up Rig Market Size and Volume Forecast by Application
12.4.1. Oil & Gas
12.4.2. Construction
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Jack-Up Rig Market Size and Volume Forecast by Type
12.7.1. Mobile offshore Drilling Units (MODU)
12.7.2. Turbine Installation Vessel (TIV)
12.7.3. Barges
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Jack-Up Rig Demand Share, 2019-2026
13. Middle East & Africa Jack-Up Rig Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Jack-Up Rig Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Jack-Up Rig Market Size and Volume Forecast by Application
13.4.1. Oil & Gas
13.4.2. Construction
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Jack-Up Rig Market Size and Volume Forecast by Type
13.7.1. Mobile offshore Drilling Units (MODU)
13.7.2. Turbine Installation Vessel (TIV)
13.7.3. Barges
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Jack-Up Rig Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Jack-Up Rig Market: Market Share Analysis
14.2. Jack-Up Rig Distributors and Customers
14.3. Jack-Up Rig Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. DSME
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Maersk
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Fox Oil Drilling
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Seatrade Maritime
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Shelf Drilling
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Rowan
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Kuok (PaxOcean)
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. KCA DEUTAG
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Diamond Offshore Drilling
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COSL
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Transocean
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Seadrill
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. ENSCO
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Halliburton
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Noble
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. CIMC
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Keppel
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Sembcorp Marine Industries
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
