Offshore Drilling Market Opportunities 2031
Exhausting onshore oil and gas reserves are predicted to drive the offshore drilling market over the forecast period. An increase in crude oil and petrochemical consumption across different industries such as plastics, transportation, energy, textiles, and paints and coatings is expected to drive exploration activities in offshore sites.
MARKET DYNAMICS
Rising investments in emerging economies, liberalization of the Mexican oil & gas industry, and rapid technological advancements are some of the major factors driving the growth of the offshore drilling market. Moreover, a growing focus on deep-water drilling is anticipated to boost the growth of the offshore drilling market.
MARKET SCOPE
The Global Offshore Drilling Market Analysis to 2031 is a specialized and in-depth study of the offshore drilling market with a special focus on the global market trend analysis. The report aims to provide an overview of offshore drilling market with detailed market segmentation by service type, application. The global offshore drilling market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading offshore drilling market players and offers key trends and opportunities in the offshore drilling market.
MARKET SEGMENTATION
The global offshore drilling market is segmented on the basis of offering, service type, application. On the basis of offering, the market is segmented as service type, application. On the basis of service type, the market is segmented as contract drilling, directional drilling, logging while drilling, measurement while drilling. On the basis of application, the market is segmented as shallow water, deep water, ultra-deep water.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global offshore drilling market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The offshore drilling market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting offshore drilling market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the offshore drilling market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global offshore drilling market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The offshore drilling market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting offshore drilling market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the offshore drilling market in these regions.
MARKET PLAYERS
The reports cover key developments in the offshore drilling market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from offshore drilling market are anticipated to lucrative growth opportunities in the future with the rising demand for offshore drilling market. Below mentioned is the list of few companies engaged in the offshore drilling market.
The report also includes the profiles of key offshore drilling market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Baker Hughes Company
- China Oilfield Services Limited
- Dolphin Drilling
- KCA Deutag
- MAERSK DRILLING
- Nabors Industries Ltd
- Schlumberger Limited
- Seadrill Limited
- Transocean Ltd.
- Weatherford International plc
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1Offshore Drilling Market - By Service Type
1.3.2Offshore Drilling Market - By Application
1.3.3Offshore Drilling Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4.OFFSHORE DRILLING MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PEST ANALYSIS
4.2.1North America - Pest Analysis
4.2.2Europe - Pest Analysis
4.2.3Asia-Pacific - Pest Analysis
4.2.4Middle East and Africa - Pest Analysis
4.2.5South and Central America - Pest Analysis
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.OFFSHORE DRILLING MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.OFFSHORE DRILLING MARKET - GLOBAL MARKET ANALYSIS
6.1.OFFSHORE DRILLING - GLOBAL MARKET OVERVIEW
6.2.OFFSHORE DRILLING - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.OFFSHORE DRILLING MARKET - REVENUE AND FORECASTS TO 2028- SERVICE TYPE
7.1.OVERVIEW
7.2.SERVICE TYPE MARKET FORECASTS AND ANALYSIS
7.3.CONTRACT DRILLING
7.3.1.Overview
7.3.2.Contract Drilling Market Forecast and Analysis
7.4.DIRECTIONAL DRILLING
7.4.1.Overview
7.4.2.Directional Drilling Market Forecast and Analysis
7.5.LOGGING WHILE DRILLING
7.5.1.Overview
7.5.2.Logging While Drilling Market Forecast and Analysis
7.6.MEASUREMENT WHILE DRILLING
7.6.1.Overview
7.6.2.Measurement While Drilling Market Forecast and Analysis
8.OFFSHORE DRILLING MARKET - REVENUE AND FORECASTS TO 2028- APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.SHALLOW WATER
8.3.1.Overview
8.3.2.Shallow Water Market Forecast and Analysis
8.4.DEEP WATER
8.4.1.Overview
8.4.2.Deep Water Market Forecast and Analysis
8.5.ULTRA-DEEP WATER
8.5.1.Overview
8.5.2.Ultra-Deep Water Market Forecast and Analysis
9.OFFSHORE DRILLING MARKET REVENUE AND FORECASTS TO 2028- GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Offshore Drilling Market Overview
9.1.2North America Offshore Drilling Market Forecasts and Analysis
9.1.3North America Offshore Drilling Market Forecasts and Analysis - By Service Type
9.1.4North America Offshore Drilling Market Forecasts and Analysis - By Application
9.1.5North America Offshore Drilling Market Forecasts and Analysis - By Countries
9.1.5.1United States Offshore Drilling Market
9.1.5.1.1United States Offshore Drilling Market by Service Type
9.1.5.1.2United States Offshore Drilling Market by Application
9.1.5.2Canada Offshore Drilling Market
9.1.5.2.1Canada Offshore Drilling Market by Service Type
9.1.5.2.2Canada Offshore Drilling Market by Application
9.1.5.3Mexico Offshore Drilling Market
9.1.5.3.1Mexico Offshore Drilling Market by Service Type
9.1.5.3.2Mexico Offshore Drilling Market by Application
9.2.EUROPE
9.2.1Europe Offshore Drilling Market Overview
9.2.2Europe Offshore Drilling Market Forecasts and Analysis
9.2.3Europe Offshore Drilling Market Forecasts and Analysis - By Service Type
9.2.4Europe Offshore Drilling Market Forecasts and Analysis - By Application
9.2.5Europe Offshore Drilling Market Forecasts and Analysis - By Countries
9.2.5.1Germany Offshore Drilling Market
9.2.5.1.1Germany Offshore Drilling Market by Service Type
9.2.5.1.2Germany Offshore Drilling Market by Application
9.2.5.2France Offshore Drilling Market
9.2.5.2.1France Offshore Drilling Market by Service Type
9.2.5.2.2France Offshore Drilling Market by Application
9.2.5.3Italy Offshore Drilling Market
9.2.5.3.1Italy Offshore Drilling Market by Service Type
9.2.5.3.2Italy Offshore Drilling Market by Application
9.2.5.4United Kingdom Offshore Drilling Market
9.2.5.4.1United Kingdom Offshore Drilling Market by Service Type
9.2.5.4.2United Kingdom Offshore Drilling Market by Application
9.2.5.5Russia Offshore Drilling Market
9.2.5.5.1Russia Offshore Drilling Market by Service Type
9.2.5.5.2Russia Offshore Drilling Market by Application
9.2.5.6Rest of Europe Offshore Drilling Market
9.2.5.6.1Rest of Europe Offshore Drilling Market by Service Type
9.2.5.6.2Rest of Europe Offshore Drilling Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Offshore Drilling Market Overview
9.3.2Asia-Pacific Offshore Drilling Market Forecasts and Analysis
9.3.3Asia-Pacific Offshore Drilling Market Forecasts and Analysis - By Service Type
9.3.4Asia-Pacific Offshore Drilling Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Offshore Drilling Market Forecasts and Analysis - By Countries
9.3.5.1Australia Offshore Drilling Market
9.3.5.1.1Australia Offshore Drilling Market by Service Type
9.3.5.1.2Australia Offshore Drilling Market by Application
9.3.5.2China Offshore Drilling Market
9.3.5.2.1China Offshore Drilling Market by Service Type
9.3.5.2.2China Offshore Drilling Market by Application
9.3.5.3India Offshore Drilling Market
9.3.5.3.1India Offshore Drilling Market by Service Type
9.3.5.3.2India Offshore Drilling Market by Application
9.3.5.4Japan Offshore Drilling Market
9.3.5.4.1Japan Offshore Drilling Market by Service Type
9.3.5.4.2Japan Offshore Drilling Market by Application
9.3.5.5South Korea Offshore Drilling Market
9.3.5.5.1South Korea Offshore Drilling Market by Service Type
9.3.5.5.2South Korea Offshore Drilling Market by Application
9.3.5.6Rest of Asia-Pacific Offshore Drilling Market
9.3.5.6.1Rest of Asia-Pacific Offshore Drilling Market by Service Type
9.3.5.6.2Rest of Asia-Pacific Offshore Drilling Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Offshore Drilling Market Overview
9.4.2Middle East and Africa Offshore Drilling Market Forecasts and Analysis
9.4.3Middle East and Africa Offshore Drilling Market Forecasts and Analysis - By Service Type
9.4.4Middle East and Africa Offshore Drilling Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Offshore Drilling Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Offshore Drilling Market
9.4.5.1.1South Africa Offshore Drilling Market by Service Type
9.4.5.1.2South Africa Offshore Drilling Market by Application
9.4.5.2Saudi Arabia Offshore Drilling Market
9.4.5.2.1Saudi Arabia Offshore Drilling Market by Service Type
9.4.5.2.2Saudi Arabia Offshore Drilling Market by Application
9.4.5.3U.A.E Offshore Drilling Market
9.4.5.3.1U.A.E Offshore Drilling Market by Service Type
9.4.5.3.2U.A.E Offshore Drilling Market by Application
9.4.5.4Rest of Middle East and Africa Offshore Drilling Market
9.4.5.4.1Rest of Middle East and Africa Offshore Drilling Market by Service Type
9.4.5.4.2Rest of Middle East and Africa Offshore Drilling Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Offshore Drilling Market Overview
9.5.2South and Central America Offshore Drilling Market Forecasts and Analysis
9.5.3South and Central America Offshore Drilling Market Forecasts and Analysis - By Service Type
9.5.4South and Central America Offshore Drilling Market Forecasts and Analysis - By Application
9.5.5South and Central America Offshore Drilling Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Offshore Drilling Market
9.5.5.1.1Brazil Offshore Drilling Market by Service Type
9.5.5.1.2Brazil Offshore Drilling Market by Application
9.5.5.2Argentina Offshore Drilling Market
9.5.5.2.1Argentina Offshore Drilling Market by Service Type
9.5.5.2.2Argentina Offshore Drilling Market by Application
9.5.5.3Rest of South and Central America Offshore Drilling Market
9.5.5.3.1Rest of South and Central America Offshore Drilling Market by Service Type
9.5.5.3.2Rest of South and Central America Offshore Drilling Market by Application
10. INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.OFFSHORE DRILLING MARKET, KEY COMPANY PROFILES
11.1.BAKER HUGHES COMPANY
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.CHINA OILFIELD SERVICES LIMITED
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.DOLPHIN DRILLING
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.KCA DEUTAG
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.MAERSK DRILLING
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.NABORS INDUSTRIES LTD
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.SCHLUMBERGER LIMITED
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.SEADRILL LIMITED
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.TRANSOCEAN LTD.
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.WEATHERFORD INTERNATIONAL PLC
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Baker Hughes Company
2. China Oilfield Services Limited
3. Dolphin Drilling
4. KCA Deutag
5. MAERSK DRILLING
6. Nabors Industries Ltd
7. Schlumberger Limited
8. Seadrill Limited
9. Transocean Ltd.
10. Weatherford International plc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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