Market Overview

The Global Offshore Drilling Rigs Market was valued at USD 74,546.9 million in 2023 and is expected to reach USD 125,993.7 million by 2031 while growing at a CAGR of 6.8% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global offshore drilling rigs market growth. Offshore drilling rigs, specialized structures or vessels, play a crucial role in the exploration and extraction of oil and natural gas from beneath the seabed. They enable access to and exploitation of hydrocarbon reserves beneath the ocean floor in the offshore oil and gas industry.

Increasing demand for oil and gas due to population growth, industrialization, and urbanization, along with ongoing advancements in drilling technologies, propels the growth of the offshore drilling rigs market. Nevertheless, obstacles like high capital and operating costs, as well as environmental and regulatory challenges, may impede market expansion.

Furthermore, the global offshore drilling rigs industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Type Analysis

The Global Offshore Drilling Rigs Market is segmented among Jackups, Semisubmersibles, Drill Ships, and Other Types, based on Type. In 2023, Jackups accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Water Depth Analysis

The Global Offshore Drilling Rigs Market is segmented among Shallow Water, and Deepwater and Ultra-deepwater, based on Water Depth. In 2023, Deepwater and Ultra-deepwater accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Offshore Drilling Rigs Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while Middle East is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Keppel Corporation Limited, Samsung Heavy Industries Co. Ltd, Sembcorp Marine Ltd, Daewoo Shipbuilding & Marine Engineering Co. Ltd, Hyundai Heavy Industries Co. Ltd, Friede & Goldman Ltd, Damen Shipyards Group, Irving Shipbuilding Inc. Transocean Ltd, Seadrill Ltd, ENSCO PLC, Noble Drilling PLC, and Diamond Offshore Drilling Inc.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Offshore Drilling Rigs Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Offshore Drilling Rigs Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Offshore Drilling Rigs Market Segmentation, By Type   

• Global Offshore Drilling Rigs Market Share Analysis, By Type   

• Global Offshore Drilling Rigs Market Growth Analysis, By Type   

• Global Offshore Drilling Rigs Market Trends, By Type   

o Jackups

o Semisubmersibles

o Drill Ships

o Other Types

6. Global Offshore Drilling Rigs Market Segmentation, By Water Depth    

• Global Offshore Drilling Rigs Market Share Analysis, By Water Depth    

• Global Offshore Drilling Rigs Market Growth Analysis, By Water Depth

• Global Offshore Drilling Rigs Market Trends, By Water Depth    

o Shallow Water

o Deepwater and Ultra-deepwater

7. Global Offshore Drilling Rigs Market Segmentation, By Region

• Global Offshore Drilling Rigs Market Share Analysis, By Region

• Global Offshore Drilling Rigs Market Growth Analysis, By Region

• Global Offshore Drilling Rigs Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Keppel Corporation Limited*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Samsung Heavy Industries Co. Ltd

• Sembcorp Marine Ltd

• Daewoo Shipbuilding & Marine Engineering Co. Ltd

• Hyundai Heavy Industries Co. Ltd

• Friede & Goldman Ltd

• Damen Shipyards Group

• Irving Shipbuilding Inc. Transocean Ltd

• Seadrill Ltd

• ENSCO PLC

• Noble Drilling PLC

• Diamond Offshore Drilling Inc

 *Similar analysis will be provided for each company listed above.