Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "Deepwater Drilling Market Report 2023-2033" report has been added to ResearchAndMarkets.com's offering.
World revenue for the Deepwater Drilling Market was forecast to surpass US$24.9 billion in 2023, with strong revenue growth through to 2033.
Expanding Global Energy Demand: Meeting Growing Needs
The global appetite for energy continues to rise, driven by factors such as population growth, industrialization, and urbanization. Meeting this surging energy demand is a fundamental driver for the deepwater drilling market. Traditional onshore reserves are insufficient to satisfy this hunger for energy, necessitating the exploration and extraction of hydrocarbons from deepwater locations. Deepwater drilling allows access to vast untapped reservoirs that can provide a reliable source of oil and natural gas to support the world's energy needs.
Depleting Shallow-Water Reserves: Going Deeper for Resources
Shallow-water reserves have been extensively exploited over the years, resulting in their depletion. To sustain and expand hydrocarbon production, the industry has shifted its focus to deeper waters where substantial untapped reserves lie. Deepwater drilling techniques have evolved to enable operations in depths that were previously inaccessible. The need to access these deeper reservoirs is a compelling driver for the growth of deepwater drilling activities.
Forecasts to 2033 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2033, this new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising deepwater drilling prices and recent developments.
Market Dynamics
Market Driving Factors
- Greater Viability of Drilling Projects in Deepwater, and Ultra-Deepwater Provides Impetus to Market Growth
- Energy Security Concerns, Followed by Rising Investments in Untapped Deepwater Oil and Gas Assets, Favour Market Expansion
- The Increasing Demand for Oil and Gas is a Key Factor Driving Market Growth
Market Restraining Factors
- The Deepwater Drilling Industry is Highly Sensitive to Fluctuations in Oil Prices
- Deepwater Drilling Operations are Subject to Strict Environmental Regulations and Permitting Requirements
- Oil and Gas Drilling has a Serious Impact on Our Wildlands and Communities
Market Opportunities
- Increase in Population and Industrial Development are Increasing the Global Demand for Energy
- Many Regions with Significant Untapped Deepwater Reserves Remain Unexplored can be Opportunities for the Market
- Investing in Cutting-Edge Drilling Technology, such as Advanced Subsea Equipment, Robotics, and Automation, Can Provide a Competitive Advantage
Segments Covered in the Report
Market Segment by Depth
- Deepwater
- Ultra-Deepwater
Market Segment by End-user
- Oil and Gas Exploration
- Oil and Gas Production
- Renewable Energy
Market Segment by Rig Type
- Drillships
- Semi-Submersible Rigs
- Jack-Up Rigs
- Other Rig Types
Market Segment by Technology
- Dynamic Positioning (DP) Drilling Rigs
- Managed Pressure Drilling (MPD) Systems
- Subsea Blowout Preventers (BOPs)
- Riserless Drilling Systems
- Floating Production Storage and Offloading (FPSO) Units
Market Segment by Application
- Exploration Drilling
- Appraisal Drilling
- Production Drilling
- Well Intervention
- Offshore Wind Farm Installation
- Tidal Energy Drilling
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
Leading companies and the potential for market growth
The report also includes profiles and for the following leading companies, with a focus on this segment of these companies' operations:
- Awilco Drilling
- Borr Drilling
- China Oilfield Services
- Noble Corporation
- Northern Drilling
- Odfjell Drilling.
- Petroleum Geo-Services
- Seadrill
- Shelf Drilling
- Transocean
- Valaris
- Vantage Drilling International
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2033 for Deepwater Drilling Market, 2023 to 2033 Market, with forecasts for depth, end-user, rig type, technology, application, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2033 for four regional and 20 key national markets - See forecasts for the Deepwater Drilling Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Denmark, Russia, UK, France, China, India, Indonesia, Malaysia, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Deepwater Drilling Market, 2023 to 2033.
For more information about this report visit https://www.researchandmarkets.com/r/vuvccu
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