Offshore Drilling Market Size, Share, and Analysis, By Rig Type (Drillships, Semisubmersibles and Jackups), By Water Depth (Shallow Water, Deepwater and Ultra-Deepwater), By Services (Contract Drilling, Directional Drilling, Logging While Drilling, Measurement While Drilling) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
Offshore Drilling Market Size, Share, and Analysis, By Rig Type (Drillships, Semisubmersibles and Jackups), By Water Depth (Shallow Water, Deepwater and Ultra-Deepwater), By Services (Contract Drilling, Directional Drilling, Logging While Drilling, Measurement While Drilling) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Offshore Drilling Market is anticipated t%li%grow at a CAGR of 7.9% in the forecast period (2024-2034), with the market size valued at USD 32.2 billion in 2023 and projected t%li%reach USD 74.4 billion by 2034.
Offshore Drilling is the segment under the oil and gas industry, which helps in the extracting necessary hydrocarbons, such as oil and gas. In comparison t%li%onshore drilling that takes place on land, offshore drilling involves conducting exploration activities in water bodies. Offshore process requires essential drilling rigs and equipment which is used t%li%operate under various water depths, which can range from shallow t%li%deep water. Key constituents of the offshore drilling market constitutes of drill ships, semi-submersibles, and jack-up rigs, which are designed for specific water geological and marine conditions. The drilling market is influenced by major key factors such as technological developments, increasing energy demand and environmental guidelines. Key players in the industry offer various services t%li%explore and exploit reserves. The sector is constantly evolving, with new challenges such as environmental concerns, high expenditure and regular uncertainties. Offshore drilling market has played an important role in the development of energy requirements all over the globe.
MARKET HIGHLIGHTS
Offshore Drilling Market is anticipated t%li%reach USD 74.4 billion, growing at a CAGR of 7.9% during the forecast period owing t%li%the increasing energy demand, particularly in the developing nations with significant urbanization, combined with the need t%li%explore and extract hydrocarbons from offshore reserves. Offshore drilling market is categorised based on exploration form such as Deepwater, shallow water and Ultra-Deep Water. These practices take place in these particular water levels which are executed with the help of rigs like Drillships, Semisubmersibles and Jackups. While equipment and services like Contract Drilling, Directional Drilling, Logging While Drilling and Measurement While Drilling are used prominently t%li%assist these offshore drilling activities.
Offshore Drilling Market Segments:
Growth Drivers
Rising Global Energy Demand t%li%positively affect market development and growth in the industry
Depletion of Onshore reserves t%li%create significant opportunities
Restraint
Environmental Concerns regarding drilling activities may hinder overall market performance
Key Players
PRODUCT OVERVIEW
Offshore Drilling Market is anticipated t%li%grow at a CAGR of 7.9% in the forecast period (2024-2034), with the market size valued at USD 32.2 billion in 2023 and projected t%li%reach USD 74.4 billion by 2034.
Offshore Drilling is the segment under the oil and gas industry, which helps in the extracting necessary hydrocarbons, such as oil and gas. In comparison t%li%onshore drilling that takes place on land, offshore drilling involves conducting exploration activities in water bodies. Offshore process requires essential drilling rigs and equipment which is used t%li%operate under various water depths, which can range from shallow t%li%deep water. Key constituents of the offshore drilling market constitutes of drill ships, semi-submersibles, and jack-up rigs, which are designed for specific water geological and marine conditions. The drilling market is influenced by major key factors such as technological developments, increasing energy demand and environmental guidelines. Key players in the industry offer various services t%li%explore and exploit reserves. The sector is constantly evolving, with new challenges such as environmental concerns, high expenditure and regular uncertainties. Offshore drilling market has played an important role in the development of energy requirements all over the globe.
MARKET HIGHLIGHTS
Offshore Drilling Market is anticipated t%li%reach USD 74.4 billion, growing at a CAGR of 7.9% during the forecast period owing t%li%the increasing energy demand, particularly in the developing nations with significant urbanization, combined with the need t%li%explore and extract hydrocarbons from offshore reserves. Offshore drilling market is categorised based on exploration form such as Deepwater, shallow water and Ultra-Deep Water. These practices take place in these particular water levels which are executed with the help of rigs like Drillships, Semisubmersibles and Jackups. While equipment and services like Contract Drilling, Directional Drilling, Logging While Drilling and Measurement While Drilling are used prominently t%li%assist these offshore drilling activities.
Offshore Drilling Market Segments:
- By Rig Type
- Drillships
- Semisubmersibles
- Jackups
- By Water Depth
- Shallow Water
- Deepwater
- Ultra-Deepwater
- By Services
- Contract Drilling
- Directional Drilling
- Logging While Drilling
- Measurement While Drilling
Growth Drivers
Rising Global Energy Demand t%li%positively affect market development and growth in the industry
Depletion of Onshore reserves t%li%create significant opportunities
Restraint
Environmental Concerns regarding drilling activities may hinder overall market performance
Key Players
- Saipem
- Diamond Offshore Drilling, Inc.
- Transocean Ltd.
- KCA Deutag
- Seadrill Limited
- Maersk Drilling
- Noble Corporation
- EnscoRowan (now Valaris plc)
- Pacific Drilling
- Shelf Drilling
- Odfjell Drilling
- Nabors Industries Ltd.
- Borr Drilling
- COSL - China Oilfield Services Limited
- Atwood Oceanics
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1. EXECUTIVE SUMMARY
1.1.Regional Market Share
1.2. Business Trends
1.3.Offshore Drilling Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1. Market Definition
3.2.Offshore Drilling Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Water Depth Data
4. OFFSHORE DRILLING MARKET – WATER DEPTH INSIGHTS
4.1.Water Depth Segmentation
4.2. COVID-19 overview on world economy
4.3. Water Depth ecosystem Channel analysis
4.4. Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7.MARKET DYNAMICS
7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends
8. RISK ANALYSIS
9. MARKET ANALYSIS
9.1. Porters Five Forces
9.2.PEST Analysis
9.2.1. Political
9.2.2.Economic
9.2.3.Social
9.2.4.Technological
10. OFFSHORE DRILLING MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11.OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1.By Rig Type
11.3.1.1. Drillships
11.3.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2. Semisubmersibles
11.3.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.2.2. Market Share (%) 2024-2034F
11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Jackups
11.3.1.3.1.By Value (USD Million) 2024-2034F
11.3.1.3.2. Market Share (%) 2024-2034F
11.3.1.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Water Depth
11.3.2.1.Shallow Water
11.3.2.1.1.By Value (USD Million) 2024-2034F
11.3.2.1.2. Market Share (%) 2024-2034F
11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.2.Deepwater
11.3.2.2.1. By Value (USD Million) 2024-2034F
11.3.2.2.2.Market Share (%) 2024-2034F
11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Ultra-Deepwater
11.3.2.3.1. By Value (USD Million) 2024-2034F
11.3.2.3.2.Market Share (%) 2024-2034F
11.3.2.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3. By Services
11.3.3.1.Contract Drilling
11.3.3.1.1.By Value (USD Million) 2024-2034F
11.3.3.1.2. Market Share (%) 2024-2034F
11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.2.Directional Drilling
11.3.3.2.1. By Value (USD Million) 2024-2034F
11.3.3.2.2.Market Share (%) 2024-2034F
11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.3.Logging While Drilling
11.3.3.3.1. By Value (USD Million) 2024-2034F
11.3.3.3.2.Market Share (%) 2024-2034F
11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.4.Measurement While Drilling
11.3.3.4.1. By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
12. NORTH AMERICA OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Storage System
12.3.2.By Water Depth
12.3.3.By Services
12.4. Country
12.4.1. United States
12.4.2.Canada
13. EUROPE OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Storage System
13.3.2.By Water Depth
13.3.3.By Services
13.4. Country
13.4.1.Germany
13.4.2.United Kingdom
13.4.3.France
13.4.4. Italy
13.4.5.Spain
13.4.6.Russia
13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14. ASIA-PACIFIC OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Storage System
14.3.2.By Water Depth
14.3.3.By Services
14.4. Country
14.4.1. India
14.4.2.China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15. MIDDLE EAST AND AFRICA OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Storage System
15.3.2.By Water Depth
15.3.3.By Services
15.4. Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4. South Africa
15.4.5.Rest of Middle East and Africa
16. LATIN AMERICA OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Storage System
16.3.2.By Water Depth
16.3.3.By Services
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Saipem
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Diamond Offshore Drilling, Inc.
18.3. Transocean Ltd.
18.4.KCA Deutag
18.5. Seadrill Limited
18.6. Maersk Drilling
18.7. Noble Corporation
18.8.EnscoRowan (now Valaris plc)
18.9. Pacific Drilling
18.10. Shelf Drilling
18.11.Odfjell Drilling
18.12.Nabors Industries Ltd.
18.13.Borr Drilling
18.14. COSL - China Oilfield Services Limited
18.15.Atwood Oceanics
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1.Regional Market Share
1.2. Business Trends
1.3.Offshore Drilling Market: COVID-19 Outbreak
1.4.Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1. Research Objective
2.2.Research Approach
2.3.Data Sourcing and Methodology
2.4. Primary Research
2.5. Secondary Research
2.5.1. Paid Sources
2.5.2.Public Sources
2.6.Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1. Market Definition
3.2.Offshore Drilling Market: COVID-19 Impact
3.3.Key Segmentations
3.4. Key Developments
3.5. Allied Water Depth Data
4. OFFSHORE DRILLING MARKET – WATER DEPTH INSIGHTS
4.1.Water Depth Segmentation
4.2. COVID-19 overview on world economy
4.3. Water Depth ecosystem Channel analysis
4.4. Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7.MARKET DYNAMICS
7.1. Introduction
7.2.Growth Drivers
7.3.Market Opportunities
7.4. Market Restraints
7.5.Market Trends
8. RISK ANALYSIS
9. MARKET ANALYSIS
9.1. Porters Five Forces
9.2.PEST Analysis
9.2.1. Political
9.2.2.Economic
9.2.3.Social
9.2.4.Technological
10. OFFSHORE DRILLING MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11.OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
11.1.Overview
11.2. Key Findings
11.3. Market Segmentation
11.3.1.By Rig Type
11.3.1.1. Drillships
11.3.1.1.1. By Value (USD Million) 2024-2034F
11.3.1.1.2.Market Share (%) 2024-2034F
11.3.1.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.1.2. Semisubmersibles
11.3.1.2.1.By Value (USD Million) 2024-2034F
11.3.1.2.2. Market Share (%) 2024-2034F
11.3.1.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.3.Jackups
11.3.1.3.1.By Value (USD Million) 2024-2034F
11.3.1.3.2. Market Share (%) 2024-2034F
11.3.1.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.2. By Water Depth
11.3.2.1.Shallow Water
11.3.2.1.1.By Value (USD Million) 2024-2034F
11.3.2.1.2. Market Share (%) 2024-2034F
11.3.2.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.2.Deepwater
11.3.2.2.1. By Value (USD Million) 2024-2034F
11.3.2.2.2.Market Share (%) 2024-2034F
11.3.2.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Ultra-Deepwater
11.3.2.3.1. By Value (USD Million) 2024-2034F
11.3.2.3.2.Market Share (%) 2024-2034F
11.3.2.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3. By Services
11.3.3.1.Contract Drilling
11.3.3.1.1.By Value (USD Million) 2024-2034F
11.3.3.1.2. Market Share (%) 2024-2034F
11.3.3.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.2.Directional Drilling
11.3.3.2.1. By Value (USD Million) 2024-2034F
11.3.3.2.2.Market Share (%) 2024-2034F
11.3.3.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.3.Logging While Drilling
11.3.3.3.1. By Value (USD Million) 2024-2034F
11.3.3.3.2.Market Share (%) 2024-2034F
11.3.3.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.4.Measurement While Drilling
11.3.3.4.1. By Value (USD Million) 2024-2034F
11.3.3.4.2. Market Share (%) 2024-2034F
11.3.3.4.3. Y-o-Y Growth (%) 2024-2034F
12. NORTH AMERICA OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
12.1. Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1. By Storage System
12.3.2.By Water Depth
12.3.3.By Services
12.4. Country
12.4.1. United States
12.4.2.Canada
13. EUROPE OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
13.1. Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1. By Storage System
13.3.2.By Water Depth
13.3.3.By Services
13.4. Country
13.4.1.Germany
13.4.2.United Kingdom
13.4.3.France
13.4.4. Italy
13.4.5.Spain
13.4.6.Russia
13.4.7.Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14. ASIA-PACIFIC OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
14.1.Overview
14.2. Key Findings
14.3. Market Segmentation
14.3.1. By Storage System
14.3.2.By Water Depth
14.3.3.By Services
14.4. Country
14.4.1. India
14.4.2.China
14.4.3. South Korea
14.4.4. Japan
14.4.5. Rest of APAC
15. MIDDLE EAST AND AFRICA OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1. By Storage System
15.3.2.By Water Depth
15.3.3.By Services
15.4. Country
15.4.1. Israel
15.4.2.GCC
15.4.3.North Africa
15.4.4. South Africa
15.4.5.Rest of Middle East and Africa
16. LATIN AMERICA OFFSHORE DRILLING MARKET SIZE & FORECAST 2024A-2034F
16.1. Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1. By Storage System
16.3.2.By Water Depth
16.3.3.By Services
16.4. Country
16.4.1. Mexico
16.4.2.Brazil
16.4.3.Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1. Company market share, 2023
17.2.Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Saipem
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2. Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Diamond Offshore Drilling, Inc.
18.3. Transocean Ltd.
18.4.KCA Deutag
18.5. Seadrill Limited
18.6. Maersk Drilling
18.7. Noble Corporation
18.8.EnscoRowan (now Valaris plc)
18.9. Pacific Drilling
18.10. Shelf Drilling
18.11.Odfjell Drilling
18.12.Nabors Industries Ltd.
18.13.Borr Drilling
18.14. COSL - China Oilfield Services Limited
18.15.Atwood Oceanics
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
