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Offshore Drilling Rigs Market by Type, by Application, Geography - Global Forecast to 2019

Offshore Drilling Rigs Market: Global Forecast until 2019

  • January 2015
  • 199 pages
  • ID: 2624865
In this report:
The global offshore drilling rigs market by value is estimated to be around $##,## million in 2014 and is expected to increase to $##,## million by 2019, growing at a CAGR of ##.##% from 2014-2019.
Drillships are estimated to account for the largest market size, that is, $##,##.## million, in 2014, while the semi-submersible segment is expected to grow at the highest CAGR of ##.##% from 2014 to 2019.

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Offshore drilling rigs play a top role in oil and gas development. The ever-increasing offshore exploration and production activities across the world and the drilling activities taking place at ultra-deep water depths are driving the sector. On the other hand, issues combined with the environment, geopolitical turmoil, and a lack of skilled professionals, are adversely affecting market increase. Semi-submersibles have the highest rise rate, and are the most preferred rigs deployed for drilling. They are operational at water depths up to 7500 feet and are in strong demand across the world wherever offshore explorations and production activities take place. Drillships are also exhibiting a decent increase rate vis-à-vis ultra-deep water drilling activities. Drilling contractors are currently placing more orders for jackups due to growing shallow water exploration activities in emerging sectors.

Several secondary sources including encyclopedias, directories, and databases have been used to identify and collect info that was useful for this extensive commercial study of the overall offshore drilling rigs market. The primary sources-experts and providers from the industry-have all been interviewed to obtain and verify critical data, as well as to evaluate the future prospects of the offshore drilling rigs market. This industry report estimates the offshore drilling rigs market in terms of value importance. The market value is derived on the basis of average day rates for each rig and the utilization rates of a particular rig of a particular area with respect to a particular year.

We have also profiled key players in this market, noting their new developments and other strategic industry activities. Some of the main firms profiled include Aban Offshore, Atwood Oceanics, China Oilfield Services Ltd., Diamond Offshore Drilling, Ensco plc., Hercules Offshore Inc., KCA Deutag, Maersk Drilling, Nabors, Pacific Drilling, Parker Drilling, Rowan Companies Inc., Seadrill, Transocean, and Vantage Drilling.

Latin America area controls the overall offshore drilling rigs market. In Latin America area, Brazil (BR) is the biggest market and is led by Petrobras, with market investments in offshore regions for drilling and production. Asia-Pac has the maximum growth rate because of rising shallow water explorations in the waters of Indonesia, Malaysia (MY), and Australia (AU).

The offshore drilling rigs market is divided into six regions, that is, North America continent, Latin America area, Europe (EU), African continent, Asia Pacific (APAC), the Middle East (ME), and RoW. The offshore drilling rigs market is further broken down by types and application.

The report also touches upon different important aspects of the market. These include review of the value chain, Porter's Five Forces model, the competitive landscape, and raw materials.

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