Offshore drilling rigs market size to grow by USD 2,821.26 million; Growth opportunities led by Archer Ltd. and China Oilfield Services Ltd. - Technavio

NEW YORK, Feb. 7, 2023 /PRNewswire/ -- The offshore drilling rigs market is moderately fragmented with regional vendors competing in regional markets. Vendors include offshore drilling rig owners and operators. The decline in crude oil prices has affected the offshore drilling industry, and the vendors struggled due to the reduced number of offshore drilling contracts. The offshore drilling rigs market size is forecast to grow by USD 2821.26 million estimated to grow at a CAGR of 3.16% from 2022 to 2027, according to Technavio. Request Latest PDF Sample Report

Offshore drilling rigs market 2023-2027: Scope

The offshore drilling rigs market report covers the following areas:

• Market Size
• Key Trends
• Competitive Analysis

The offshore drilling rigs market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

Why buy?

• Add credibility to strategy
• Analyzes competitor's offerings
• Get a holistic view of the market

Grow your profit margin with Technavio - Buy the report

Offshore drilling rigs market 2023-2027: Segmentation

• Type 
• Bottom-supported Rigs
• Floating Rigs

The market growth in the bottom-supported rigs segment will be significant during the forecast period. In 2022, the bottom-supported rigs segment held a major share of the market due to the high adoption of jack-up rigs. Jack-up rigs can be classified into high-specification rigs, standard rigs, and harsh environment rigs. The increasing focus on oil discovery activities in Alaska and Scotland will increase the demand for high-specification and harsh environment jack-up rigs during the forecast period. 

• Application 
• Shallow Water
• Deepwater
• Ultra-deepwater
• Geography 
• North America
• The US
• Canada
• Middle East and Africa
• Saudi Arabia
• South Africa
• Rest of the Middle East & Africa
• Europe 
• The UK
• Germany
• France
• Rest of Europe
• APAC 
• China
• India
• South America
• Chile
• Brazil
• Argentina

North America will account for 35% of the market growth during the forecast period. The major contributors of revenue to the market in the region are the US, Canada, and Mexico. The growth of the market in the region is driven by increased drilling activities. The discovery of new oil and gas reserves in Alaska will increase the demand for offshore drilling rigs in the region. 

Offshore drilling rigs market 2022-2026: Vendor analysis

Archer Ltd., China Oilfield Services Ltd., Diamond Offshore Drilling Inc., Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, NOV Inc., Parker Drilling Co., Patterson UTI Energy Inc., PR Marriott Drilling Ltd., Precision Drilling Corp., SAIPEM SpA, Schlumberger Ltd., Seadrill Ltd., Stena AB, Transocean Ltd., Valaris Plc, and Weatherford International Plc are among some of the major market participants.

Request a PDF Sample Now

Offshore drilling rigs market 2023-2027: Key highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist offshore drilling rigs market growth during the next five years
• Estimation of the offshore drilling rigs market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the offshore drilling rigs market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the offshore drilling rigs market, vendors

Subscribe to our "Basic Plan" billed annually at USD 5000 that enables you to download 5 reports and view 100 reports every month

Related Reports:

The workover rigs market is projected to grow by USD 322.27 million with a CAGR of 3.9% during the forecast period 2021 to 2026. Furthermore, this report extensively covers the workover rigs market segmentation by application (onshore and offshore) and geography (North America, Middle East and Africa, APAC, Europe, and South America).

The drilling rig market is estimated to grow at a CAGR of 6.16% between 2022 and 2027. The size of the market is forecast to increase by USD 15.36 billion. This report extensively covers market segmentation by application (onshore and offshore), type (crude oil and natural gas), and geography (North America, Middle East and Africa, Europe, APAC, and South America).

Table of Contents:

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global offshore drilling rigs market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global offshore drilling rigs market 2017 - 2021 ($ million)

• 4.2 Types Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Types Segment 2017 - 2021 ($ million)

• 4.3 Applications Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Applications Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Bottom-supported rigs - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Bottom-supported rigs - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Bottom-supported rigs - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Bottom-supported rigs - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Bottom-supported rigs - Year-over-year growth 2022-2027 (%)

• 6.4 Floating rigs - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Floating rigs - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Floating rigs - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Floating rigs - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Floating rigs - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 43: Chart on Application - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 45: Chart on Comparison by Application
• Exhibit 46: Data Table on Comparison by Application

• 7.3 Shallow water - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Shallow water - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Shallow water - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Shallow water - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Shallow water - Year-over-year growth 2022-2027 (%)

• 7.4 Deepwater - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Deepwater - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Deepwater - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Deepwater - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Deepwater - Year-over-year growth 2022-2027 (%)

• 7.5 Ultra-deepwater - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Ultra-deepwater - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Ultra-deepwater - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Ultra-deepwater - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Ultra-deepwater - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Application 
• Exhibit 59: Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 APAC - Market size and forecast 2022-2027 
• Exhibit 77: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Saudi Arabia - Market size and forecast 2022-2027 
• Exhibit 93: Chart on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Saudi Arabia - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Saudi Arabia - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Saudi Arabia - Year-over-year growth 2022-2027 (%)

• 9.11 Brazil - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Brazil - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Brazil - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Brazil - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Brazil - Year-over-year growth 2022-2027 (%)

• 9.12 Russia - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Russia - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Russia - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Russia - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Russia - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Archer Ltd.
• Exhibit 112: Archer Ltd. - Overview
• Exhibit 113: Archer Ltd. - Business segments
• Exhibit 114: Archer Ltd. - Key offerings
• Exhibit 115: Archer Ltd. - Segment focus

• 12.4 China Oilfield Services Ltd. 
• Exhibit 116: China Oilfield Services Ltd. - Overview
• Exhibit 117: China Oilfield Services Ltd. - Business segments
• Exhibit 118: China Oilfield Services Ltd. - Key offerings
• Exhibit 119: China Oilfield Services Ltd. - Segment focus

• 12.5 Diamond Offshore Drilling Inc. 
• Exhibit 120: Diamond Offshore Drilling Inc. - Overview
• Exhibit 121: Diamond Offshore Drilling Inc. - Product / Service
• Exhibit 122: Diamond Offshore Drilling Inc. - Key offerings

• 12.6 Helmerich and Payne Inc. 
• Exhibit 123: Helmerich and Payne Inc. - Overview
• Exhibit 124: Helmerich and Payne Inc. - Business segments
• Exhibit 125: Helmerich and Payne Inc. - Key offerings
• Exhibit 126: Helmerich and Payne Inc. - Segment focus

• 12.7 KCA Deutag Alpha Ltd. 
• Exhibit 127: KCA Deutag Alpha Ltd. - Overview
• Exhibit 128: KCA Deutag Alpha Ltd. - Business segments
• Exhibit 129: KCA Deutag Alpha Ltd. - Key news
• Exhibit 130: KCA Deutag Alpha Ltd. - Key offerings
• Exhibit 131: KCA Deutag Alpha Ltd. - Segment focus

• 12.8 Nabors Industries Ltd. 
• Exhibit 132: Nabors Industries Ltd. - Overview
• Exhibit 133: Nabors Industries Ltd. - Business segments
• Exhibit 134: Nabors Industries Ltd. - Key news
• Exhibit 135: Nabors Industries Ltd. - Key offerings
• Exhibit 136: Nabors Industries Ltd. - Segment focus

• 12.9 Noble Corp. Plc
• Exhibit 137: Noble Corp. Plc - Overview
• Exhibit 138: Noble Corp. Plc - Business segments
• Exhibit 139: Noble Corp. Plc - Key news
• Exhibit 140: Noble Corp. Plc - Key offerings
• Exhibit 141: Noble Corp. Plc - Segment focus

• 12.10 NOV Inc.
• Exhibit 142: NOV Inc. - Overview
• Exhibit 143: NOV Inc. - Business segments
• Exhibit 144: NOV Inc. - Key offerings
• Exhibit 145: NOV Inc. - Segment focus

• 12.11 Parker Drilling Co.
• Exhibit 146: Parker Drilling Co. - Overview
• Exhibit 147: Parker Drilling Co. - Product / Service
• Exhibit 148: Parker Drilling Co. - Key offerings

• 12.12 Patterson UTI Energy Inc. 
• Exhibit 149: Patterson UTI Energy Inc. - Overview
• Exhibit 150: Patterson UTI Energy Inc. - Business segments
• Exhibit 151: Patterson UTI Energy Inc. - Key news
• Exhibit 152: Patterson UTI Energy Inc. - Key offerings
• Exhibit 153: Patterson UTI Energy Inc. - Segment focus

• 12.13 PR Marriott Drilling Ltd. 
• Exhibit 154: PR Marriott Drilling Ltd. - Overview
• Exhibit 155: PR Marriott Drilling Ltd. - Product / Service
• Exhibit 156: PR Marriott Drilling Ltd. - Key offerings

• 12.14 Precision Drilling Corp. 
• Exhibit 157: Precision Drilling Corp. - Overview
• Exhibit 158: Precision Drilling Corp. - Business segments
• Exhibit 159: Precision Drilling Corp. - Key offerings
• Exhibit 160: Precision Drilling Corp. - Segment focus

• 12.15 SAIPEM SpA
• Exhibit 161: SAIPEM SpA - Overview
• Exhibit 162: SAIPEM SpA - Business segments
• Exhibit 163: SAIPEM SpA - Key offerings
• Exhibit 164: SAIPEM SpA - Segment focus

• 12.16 Transocean Ltd.
• Exhibit 165: Transocean Ltd. - Overview
• Exhibit 166: Transocean Ltd. - Product / Service
• Exhibit 167: Transocean Ltd. - Key offerings

• 12.17 Valaris Plc
• Exhibit 168: Valaris Plc - Overview
• Exhibit 169: Valaris Plc - Business segments
• Exhibit 170: Valaris Plc - Key offerings
• Exhibit 171: Valaris Plc - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 172: Inclusions checklist
• Exhibit 173: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 174: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 175: Research methodology
• Exhibit 176: Validation techniques employed for market sizing
• Exhibit 177: Information sources

• 13.5 List of abbreviations 
• Exhibit 178: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio