Analyzing COVID-19 Impact on Offshore Drilling Market | $ 7.04 Bn Growth Expected Between 2021-2025 | Technavio

NEW YORK, April 29, 2021 /PRNewswire/ — The offshore drilling market is expected to grow by USD 7.04 billion, progressing…

NEW YORK, April 29, 2021 /PRNewswire/ — The offshore drilling market is expected to grow by USD 7.04 billion, progressing at a CAGR of over 4% during the forecast period.

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The growth in demand for oil and natural gas is one of the major factors propelling the market growth. However, fluctuations in the price of crude oil might hamper the market growth.

Offshore Drilling Market: Application Landscape

Based on the application, the market witnessed maximum growth in the shallow water offshore drilling segment. The segment is driven by the less complex nature of shallow water offshore drilling compared to deepwater and ultra-deepwater, which results in better safety and economic viability. The market growth in the segment will be significant during the forecast period.

Offshore Drilling Market: Geographic Landscape

By geography, APAC is going to have lucrative growth during the forecast period. About 35% of the market’s overall growth is expected to originate from APAC. The rising number of offshore drilling projects will be crucial in driving the growth of the offshore drilling market in APAC.

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Related Reports on Energy Include:

Global Offshore Drilling Rigs Market
 – Global offshore drilling rigs market is segmented by type (Bottom-supported rigs and Floating rigs) and geography (APAC, MEA, North America, Europe, and South America).

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Global Land Drilling Rigs Market – Global land drilling rigs market is segmented by type (conventional rigs and mobile rigs) and geography (MEA, North America, APAC, Europe, and South America).

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Companies Covered:

  • Baker Hughes Co.
  • China Oilfield Services Ltd.
  • Halliburton Co.
  • KCA Deutag Alpha Ltd.
  • National Oilwell Varco Inc.
  • Schlumberger Ltd.
  • The Drilling Co. of 1972 AS
  • Transocean Ltd.
  • Valaris Plc
  • Weatherford International Plc

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2020, 2021, until 2025
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Shallow water – Market size and forecast 2019-2024
  • Deepwater – Market size and forecast 2019-2024
  • Ultra-deepwater – Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Baker Hughes Co.
  • China Oilfield Services Ltd.
  • Halliburton Co.
  • KCA Deutag Alpha Ltd.
  • National Oilwell Varco Inc.
  • Schlumberger Ltd.
  • The Drilling Co. of 1972 AS
  • Transocean Ltd.
  • Valaris Plc
  • Weatherford International Plc

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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