Global Offshore Drilling Rigs Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Offshore Drilling Rigs Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Type (Jackups, Semisubmersibles, Drill Ships, and Other Types), Water Depth (Shallow Water, and Deepwater and Ultra-deepwater), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
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.