Key Market Participants Analysis
- ARO Drilling - The company offers jack up rigs, namely SAR-201, SAR-202, Gilbert Rowe, Scooter Yeargain, and others.
- China Oilfield Services Ltd. - The company offers jack up rigs that offer comprehensive support for drilling, workover, stimulation, and completion operations by providing good accommodations space, good cargo-handling capacity, and operation flexibility.
- Diamond Offshore Drilling Inc. - The company offers jack up rig that are self-elevating, with three or four movable legs that can be extended above or below the drilling deck.
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Jack Up Rig Market 2022-2026: Segmentation
- Type
- Geography
- APAC
- MEA
- North America
- Europe
- South America
Based on segmentation by type, the MODU segment of the jack up rig market will have significant market share growth during the forecast period. The segment will be driven by factors such as the increasing financial viability and profitability of offshore exploration and production activities.
Based on segmentation by geography, APAC is expected to account for 40% of the market's growth during the forecast period, with China and India being the key countries. Moreover, market growth in this region will be faster than in MEA, North America, South America, and Europe. The market in the region will be driven by factors such as increasing demand for energy from developing countries such as China and India.
Drivers and Challenges
The jack up rig market is driven by high consumption of oil and gas energy, rising investments in the upstream oil and gas sector, and increasing focus on unconventional oil and gas E&P activities. However, factors such as environmental concerns associated with oil and gas exploration and production activities may impede hamper growth.
View Our Sample for more information about the various trends, drivers, and challenges impacting the growth of the market
Corresponding Reports:
- Downhole Tools Market: The downhole tools market has been segmented by application (drilling, well intervention, and completion) and geography (APAC, Europe, MEA, North America, and South America). Download Sample Report
- Subsea Well Access and Blowout Preventer System Market: The subsea well access and blowout preventer system market has been segmented by product (subsea BOP and subsea WAS) and geography (APAC, Europe, MEA, North America, and South America). Download Sample Report Now
Jack Up Rig Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
Market growth 2022-2026 |
USD 3.43 billion |
Market structure |
Concentrated |
YoY growth (%) |
4.94 |
Regional analysis |
APAC, MEA, North America, Europe, and South America |
Performing market contribution |
APAC at 40% |
Key consumer countries |
China, US, India, UAE, Iran (Islamic Republic of Iran), and Mexico |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ARO Drilling, China Oilfield Services Ltd., Diamond Offshore Drilling Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, Saipem SpA, Seadrill Ltd., The Drilling Co. of 1972 AS, and Valaris Plc |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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