Offshore Drilling Rigs Market Drivers, Key Players and Recent Development Report till 2025

1. Offshore Drilling Rigs Market Drivers, Key Players and Recent Development Report till 2025 “Prominent factors that are playing major role in the growth of the Offshore Drilling Rigs Market are, continuous development of offshore reserves, increasing deepwater production, high demand for crude oil, increasing investment in deep and ultra-deep water activities, rapid technological advancements.” Global Offshore Drilling Rigs Market is segmented based on type, application, and region. Offshore drilling is a mechanical process of drilling below the seabed for the extraction of oil and gas resources from the bottom of the sea, lakes. Diesel engines are widely used for offshore drilling rigs and these engines requires 20-30 m3 diesel fuel per day, depending upon its use and work done. Offshore drilling is most probably carried out for extraction of natural petroleum that resides beneath seabed. National Oceanic and Atmospheric Administration (NOAA) stated that dipper drilling may increase the risks of accidents, spills and fires. Prominent factors that are playing major role in the growth of the Offshore Drilling Rigs Market are, continuous development of offshore reserves, increasing deepwater production, high demand for crude oil, increasing investment in deep and ultra-deep water activities, rapid technological advancements. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/offshore-drilling-rigs-market On the other hand, factors that are restraining the overall market growth are, present oil spill incidents in the offshore arena and strict government regulations on drilling activities. It has been projected that Offshore Drilling Rigs Market will grow at a fastest pace over the forecast period as the scope and its application are rising enormously across the globe

2. such as growing number of investments from operators in Deepwater drilling activities and largest market importance in Latin America, Asia Pacific, and Africa. Offshore Drilling Rigs Market is classified, by type intoJackup Rigs, Drillships, Semi-Submersible Rigs (Active Mooring, Passive Mooring Systems). Jackup Rigs are self-elevating with three or four flexible legs that can be protracted above or below the drilling level. With the help of hull jack-ups are towed to the drill site that is essentially a water- barge that drifts on the water’s surface, legs are protracted above the hull, and dropped to the water level. On the other hand, drillships are seagoing vessels (deep as 12,000 feet) used for exploratory drilling of new oil or gas wells in deep water. These drillships are also used for scientific drilling. To maintain its position on the well drillship is tailored with a dynamic positioning system on a modified tanker hull. Semi-Submersible Rigs are the platform with four legs and sufficient weight that allows the structure to float and keep the structure vertical. These rigs are portable and can be balanced up or down by shifting the level of flooding in the resilience tanks. Offshore Drilling Rigs Market is classified, by application into Deep Water Rigs (Deepwater Floaters, Midwater Floaters), Shallow Water Rigs (Commodity Jackup Rigs, Premium Jackup Rigs), and Ultra-Deep Water Rigs. Offshore Drilling Rigs Market is segmented, geographically into North America, Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, Latin American regional market held the largest market share of the Offshore Drilling Rigs Market and will remain dominant over the forecast period. The reason being, abundant high offshore potential reserves of oil and gas, increasing investments in E&P CAPEX in the region, rising offshore exploration and production activities. In terms of growth rate, Africa is expected to lead over the forecast period. Moreover, increasing offshore events in the strict environmental conditions of North Sea and reducing oil and gas reserves in the U.S. Whereas, offshore activities in the North Sea determines the CAGR of the European region. On the other hand, Asia Pacific is estimated to grow at fastest pace over the forecast period. It is projected to rise the demand for growing exploration activities in Southeast Asia. This is mainly due to growing deep-water activities, investments from operators for deep and ultra-deep water activities in this region. Offshore Drilling Rig Industry key players are, Diamond Offshore Drilling Inc., Ensco PLC, Atwood Oceanics, Nobel Corporation, Aban Offshore Limited, China Oilfield Services Limited, Maersk Drilling, Nabors Industries Ltd., KCA Deutag, Pacific Drilling, Hercules Offshore Inc., Rowan Companies PLC, Vantage Drilling, Transocean Ltd., and Seadrill Limited. Get a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/offshore-drilling-rigs-market/request-sample Market Segment: Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Offshore Drilling Rigs in these regions, from 2013 to 2025 (forecast), covering • North America

3. • Europe • China • Japan • Southeast Asia • India Global Offshore Drilling Rigs market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including • Ensco • Noble Corporation • China Oilfield Services Limited. • Nabors Industries • Pacific Drilling • Rowan Companies • Seadrill • Transocean • Vantage Drilling • Hercules Offshore • KCA Deutag • Maersk Drilling • Aban Offshore • Atwood Oceanics • Diamond Offshore Drilling See More Reports of This Category by Million Insights @ https://www.millioninsights.com/industry/machinery-and-machine-parts

4. On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into • Jackup • Semi-Submersibles • Drillships On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including • Shallow Water • Deepwater • Ultra-Deepwater Browse Full Research Report @ https://www.millioninsights.com/industry-reports/offshore-drilling-rigs-market

5. Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com Global Headquarters Asia Pacific Million Insights Million Insights Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India Phone: 1-408-610-2300 Email: sales@millioninsights.com Phone: 91-20-65300184 Email: sales@millioninsights.com Visit Our Blog: www.millioninsights.blogspot.com