Market Overview:
The global offshore drilling market is expected to grow from USD XX billion in 2018 to USD XX billion 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, factors such as high capital expenditure and environmental concerns may restrain the growth of this market during the forecast period. The global offshore drilling market can be segmented on basis of type, application, and region. On basis of type, it can be divided into jackups, semi-submersible rigs, drillships,. On basis if application,, it can be classified into oil & gas production,, natural gas transportation,, others (such as power generation). Regionally speaking,, th emarket has been segmented int North America,, Latin America,,,, Europe,,,, Asia Pacific,,,, Middle East & Africa,. Among these regions,. North America is expected t o hold th elargest share in terms o f revenue during th eforecast period. owing t o th e presence o f major players operating i n this region an dth e increase i n exploratory activities i n deepwater an dultra-deepwater regions.
Product Definition:
Offshore drilling is the process of searching for, extracting and producing oil and gas from beneath the seabed. Offshore drilling can be done in water that is a few feet deep or in water that is thousands of feet deep. The main reason companies drill offshore is because there are large amounts of oil and gas reserves located below the seabed.
Jackups:
The jackups are floating structures used for drilling purposes in offshore locations. They are a crucial component of the oil & gas industry and have been witnessing significant growth over the past few years. The global market is expected to grow at an estimated CAGR of XX% from 2016 to 2024, owing to increasing demand from various end-use industries including energy, construction, marine and transportation among others.
Semi-submersible:
Semi-submersible drilling equipment is a type of offshore drilling machinery that can be used for both, surface and underwater operations. It has the ability to operate at greater depths and can also function in shallower water than a submersible rig. Semi-submersible rigs are capable of performing under most conditions but they are not as efficient as submersibles in extreme conditions.
Application Insights:
The oil and gas segment accounted for the largest revenue share of over 60% in 2017. The growth can be attributed to the growing demand for petroleum products across the globe. Rapidly increasing urbanization, industrialization and infrastructure development in emerging economies including China, India, Brazil is expected to propel demand for drilling equipment over the coming years.
The others segment which includes renewable energy & power generation as well as marine applications is projected to witness significant growth owing to increased government spending on developing new sources of energy including wind and solar power generation along with other forms of marine transportation such as ferries and cruise ships. Increasing focus on reducing greenhouse emissions coupled with a growing global population has led major governments worldwide towards investing more in alternative & renewable sources of energy such as wind turbines and solar panels which will further drive offshore drilling activities over the forecast period.
Regional Analysis:
Asia Pacific offshore drilling market is expected to grow at the highest CAGR of XX% over the forecast period owing to increasing oil and gas demand from emerging economies such as China, India, Indonesia, Vietnam and Philippines. The region is home to some of the major E&P companies such as ConocoPhilips (COP), Shell (Royal Dutch Shell Plc.), ExxonMobil Corp., Total SA and BP p.l.c.
The Middle East & Africa accounted for a significant share in 2016 OSS Drilling Contractors Report with respect to revenue generation on account of growing oil & gas industry across countries including Saudi Arabia; Kuwait; UAE; Qatar; Iran among others will drive growth over next eight years or so.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Rising prices of crude oil and natural gas
- Proliferation of new technologies that can help increase the efficiency of offshore drilling operations
- Stringent environmental regulations that promote the use of more environmentally-friendly drilling technologies
- The increasing popularity of liquefied natural gas (LNG) as a fuel source
Scope Of The Report
Report Attributes
Report Details
Report Title
Offshore Drilling Market Research Report
By Type
Jackups, Semi-submersible, Drillships
By Application
Oil and Gas, Others
By Companies
Keppel Corporation, Sembcorp Marine, DSME, SHI, HHI, NOV, CIMC Raffles, CSIC Dalian, COSCO, CMHI
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Offshore Drilling Market Report Segments:
The global Offshore Drilling market is segmented on the basis of:
Types
Jackups, Semi-submersible, Drillships
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, Others
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:
- Keppel Corporation
- Sembcorp Marine
- DSME
- SHI
- HHI
- NOV
- CIMC Raffles
- CSIC Dalian
- COSCO
- CMHI
Highlights of The Offshore Drilling 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
- Semi-submersible
- Drillships
- By Application:
- Oil and Gas
- Others
- 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 Drilling 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?
Offshore drilling is a method of extracting oil and gas from beneath the surface of the earth. Drilling takes place in water depths up to 10,000 feet.
Some of the major companies in the offshore drilling market are Keppel Corporation, Sembcorp Marine, DSME, SHI, HHI, NOV, CIMC Raffles, CSIC Dalian, COSCO, CMHI.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Offshore Drilling 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. Offshore Drilling Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Offshore Drilling Market - Supply Chain
4.5. Global Offshore Drilling Market Forecast
4.5.1. Offshore Drilling Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Offshore Drilling Market Size (000 Units) and Y-o-Y Growth
4.5.3. Offshore Drilling Market Absolute $ Opportunity
5. Global Offshore Drilling 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. Offshore Drilling Market Size and Volume Forecast by Type
5.3.1. Jackups
5.3.2. Semi-submersible
5.3.3. Drillships
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Offshore Drilling 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. Offshore Drilling Market Size and Volume Forecast by Application
6.3.1. Oil and Gas
6.3.2. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Offshore Drilling 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. Offshore Drilling 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 Offshore Drilling 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. Offshore Drilling 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 Offshore Drilling Demand Share Forecast, 2019-2026
9. North America Offshore Drilling 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 Offshore Drilling 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 Offshore Drilling Market Size and Volume Forecast by Application
9.4.1. Oil and Gas
9.4.2. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Offshore Drilling Market Size and Volume Forecast by Type
9.7.1. Jackups
9.7.2. Semi-submersible
9.7.3. Drillships
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 Offshore Drilling Demand Share Forecast, 2019-2026
10. Latin America Offshore Drilling 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 Offshore Drilling 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 Offshore Drilling Market Size and Volume Forecast by Application
10.4.1. Oil and Gas
10.4.2. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Offshore Drilling Market Size and Volume Forecast by Type
10.7.1. Jackups
10.7.2. Semi-submersible
10.7.3. Drillships
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 Offshore Drilling Demand Share Forecast, 2019-2026
11. Europe Offshore Drilling 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 Offshore Drilling 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 Offshore Drilling Market Size and Volume Forecast by Application
11.4.1. Oil and Gas
11.4.2. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Offshore Drilling Market Size and Volume Forecast by Type
11.7.1. Jackups
11.7.2. Semi-submersible
11.7.3. Drillships
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential 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 Offshore Drilling Demand Share, 2019-2026
12. Asia Pacific Offshore Drilling 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 Offshore Drilling 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 Offshore Drilling Market Size and Volume Forecast by Application
12.4.1. Oil and Gas
12.4.2. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Offshore Drilling Market Size and Volume Forecast by Type
12.7.1. Jackups
12.7.2. Semi-submersible
12.7.3. Drillships
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 Offshore Drilling Demand Share, 2019-2026
13. Middle East & Africa Offshore Drilling 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 Offshore Drilling 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 Offshore Drilling Market Size and Volume Forecast by Application
13.4.1. Oil and Gas
13.4.2. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Offshore Drilling Market Size and Volume Forecast by Type
13.7.1. Jackups
13.7.2. Semi-submersible
13.7.3. Drillships
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 Offshore Drilling Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Offshore Drilling Market: Market Share Analysis
14.2. Offshore Drilling Distributors and Customers
14.3. Offshore Drilling Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Keppel Corporation
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Sembcorp Marine
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. DSME
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SHI
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. HHI
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. NOV
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. CIMC Raffles
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. CSIC Dalian
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COSCO
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. CMHI
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
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
