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Offshore Drilling Trends and Forecast
The future of the global offshore drilling market looks promising with opportunities in the shallow water, deep water, and ultra-deep water applications. The global offshore drilling market is expected to reach an estimated $42.6 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are increasing global energy demand, technological advancements in offshore drilling, and rising exploration of untapped offshore oil and gas reserves.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Offshore Drilling by Segment
The study includes a forecast for the global offshore drilling by service type, platform, application, and region.
Offshore Drilling Market by Service Type [Shipment Analysis by Value from 2018 to 2030]:
• Contract Drilling
• Directional Drilling
• Logging While Drilling
• Measurement While Drilling
Offshore Drilling Market by Platform [Shipment Analysis by Value from 2018 to 2030]:
• Jack-Up Rigs
• Floating
• Semisubmersibles
• Drillships
• Others
Offshore Drilling Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Shallow Water
• Deep Water
• Ultra-Deep Water
Offshore Drilling Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Offshore Drilling Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies offshore drilling companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the offshore drilling companies profiled in this report include-
• Halliburton Energy Services
• Schlumberger
• Weatherford International
• Baker Hughes
• A GE
• China Oilfield Services
• VALLOUREC
• Nabors Industries
• National Oilwell Varco
• Tenaris
Offshore Drilling Market Insights
Lucintel forecasts that contract drilling is expected to witness the highest growth over the forecast period.
Within this market, shallow water is expected to witness the highest growth over the forecast period.
APAC is expected to witness highest growth over the forecast period.
Features of the Global Offshore Drilling Market
Market Size Estimates: Offshore drilling market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Offshore drilling market size by service type, platform, application, and region in terms of value ($B).
Regional Analysis: Offshore drilling market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different service types, platforms, applications, and regions for the offshore drilling market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the offshore drilling market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the offshore drilling market size?
Answer: The global offshore drilling market is expected to reach an estimated $42.6 billion by 2030.
Q2. What is the growth forecast for offshore drilling market?
Answer: The global offshore drilling market is expected to grow with a CAGR of 4.8% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the offshore drilling market?
Answer: The major drivers for this market are increasing global energy demand, technological advancements in offshore drilling, and rising exploration of untapped offshore oil and gas reserves.
Q4. What are the major segments for offshore drilling market?
Answer: The future of the offshore drilling market looks promising with opportunities in the shallow water, deep water, and ultra-deep water applications.
Q5. Who are the key offshore drilling market companies?
Answer: Some of the key offshore drilling companies are as follows:
• Halliburton Energy Services
• Schlumberger
• Weatherford International
• Baker Hughes
• A GE
• China Oilfield Services
• VALLOUREC
• Nabors Industries
• National Oilwell Varco
• Tenaris
Q6. Which offshore drilling market segment will be the largest in future?
Answer: Lucintel forecasts that contract drilling is expected to witness the highest growth over the forecast period.
Q7. In offshore drilling market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the offshore drilling market by service type (contract drilling, directional drilling, logging while drilling, and measurement while drilling), platform (jack-up rigs, floating, semisubmersibles, drillships, and others), application (shallow water, deep water, and ultra-deep water), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Offshore Drilling Market, Offshore Drilling Market Size, Offshore Drilling Market Growth, Offshore Drilling Market Analysis, Offshore Drilling Market Report, Offshore Drilling Market Share, Offshore Drilling Market Trends, Offshore Drilling Market Forecast, Offshore Drilling Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Offshore Drilling Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Offshore Drilling Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Offshore Drilling Market by Service Type
3.3.1: Contract Drilling
3.3.2: Directional Drilling
3.3.3: Logging While Drilling
3.3.4: Measurement While Drilling
3.4: Global Offshore Drilling Market by Platform
3.4.1: Jack-Up Rigs
3.4.2: Floating
3.4.3: Semisubmersibles
3.4.4: Drillships
3.4.5: Others
3.5: Global Offshore Drilling Market by Application
3.5.1: Shallow Water
3.5.2: Deep Water
3.5.3: Ultra-Deep Water
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Offshore Drilling Market by Region
4.2: North American Offshore Drilling Market
4.2.2: North American Offshore Drilling Market by Water Depth: Shallow, Deep, and Ultra-Deepwater
4.3: European Offshore Drilling Market
4.3.1: European Offshore Drilling Market by Service Type: Contract Drilling, Directional Drilling, Logging While Drilling, and Measurement While Drilling
4.3.2: European Offshore Drilling Market by Water Depth: Shallow, Deep, and Ultra-Deepwater
4.4: APAC Offshore Drilling Market
4.4.1: APAC Offshore Drilling Market by Service Type: Contract Drilling, Directional Drilling, Logging While Drilling, and Measurement While Drilling
4.4.2: APAC Offshore Drilling Market by Water Depth: Shallow, Deep, and Ultra-Deepwater
4.5: ROW Offshore Drilling Market
4.5.1: ROW Offshore Drilling Market by Service Type: Contract Drilling, Directional Drilling, Logging While Drilling, and Measurement While Drilling
4.5.2: ROW Offshore Drilling Market by Water Depth: Shallow, Deep, and Ultra-Deepwater
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Offshore Drilling Market by Service Type
6.1.2: Growth Opportunities for the Global Offshore Drilling Market by Platform
6.1.3: Growth Opportunities for the Global Offshore Drilling Market by Application
6.1.4: Growth Opportunities for the Global Offshore Drilling Market by Region
6.2: Emerging Trends in the Global Offshore Drilling Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Offshore Drilling Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Offshore Drilling Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Halliburton Energy Services
7.2: Schlumberger
7.3: Weatherford International
7.4: Baker Hughes
7.5: A GE
7.6: China Oilfield Services
7.7: VALLOUREC
7.8: Nabors Industries
7.9: National Oilwell Varco
7.10: Tenaris
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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