Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Offshore Drilling Rigs Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global offshore drilling rigs market is experiencing significant growth, according to a new comprehensive research report now available on our website. Highlighting industry trends, market size, and opportunities, this report is an invaluable resource for stakeholders in the offshore drilling rigs sector.
Analyzing various market segments, including jackups, semisubmersibles, drill ships, and more, the report delivers insights into the current state and future outlook of the market. Notably, advancements in floating rig technology and the integration of digitalization have emerged as key trends shaping the industry.
Fueled by escalating demand for crude oil and technological innovations, the offshore drilling rigs market is set on a strong growth trajectory, forecasted to grow from $86.84 billion in 2023 to $93.55 billion in 2024 at a CAGR of 7.7%. Looking ahead, projections indicate a continued expansion to $123.03 billion by 2028 at a CAGR of 7.1%.
The report gives an extensive analysis of:
- Market dynamics and competitive landscape
- Geopolitical and economic factors influencing the market
- Technological advancements driving efficiencies in offshore drilling operations
- Patterns of supply and demand within the sector
- Statistical data on regional performances, notably the fast-growing Middle East and African markets
Exploratory Wells Pivotal in Market Expansion
With energy companies ramping up exploratory drilling activities, the market is anticipated to witness a surge in demand for offshore drilling rigs. An increase in exploratory well drilling underlines the potential for substantial industry growth, as evidenced by predictive analytics from leading research firms.
Surge in Crude Oil Demand Catalyzes Market Growth
The report critically assesses the impact of the global demand for crude oil on market expansion. With its comprehensive analysis, it dedicates a section to the broader implications of energy consumption patterns and their influence on offshore drilling activities.
Technological Innovations and Strategic Partnerships Spotlighted
The report delves into the technological advancements that are reshaping offshore drilling rig operations. Innovations like digital real-time monitoring and collaborative business models are spotlighted as critical drivers of market evolution.
Furthermore, it underscores the strategic partnerships and alliances formed by major players, which are enhancing performance and efficiency on the Norwegian Continental Shelf and other key areas.
A selection of companies mentioned in this report includes
- Samsung Heavy Industries Co. Ltd.
- Rowan Companies Inc.
- Keppel Corporation Limited
- Irving Shipbuilding Inc.
- Hyundai Heavy Industries Co. Ltd.
- Friede & Goldman Ltd
- Schlumberger NV
- TRINIDAD DRILLING Ltd.
- Halliburton Company
- Baker Hughes Company
- Transocean Ltd.
- Ensco Plc
- Diamond Offshore Drilling Inc.
- Noble Corporation
- Seadrill
- Weatherford International plc
- Stena Drilling Ltd
- China Oilfield Services Limited
- Nabors Industries Limited
- Saipem s. p. a.
- KCA Deutag
- Parker Drilling Company
- Sembcorp Marine Ltd.
- COSCO Shipyard Group Co. Ltd.
- NOV Inc.
- Pacific Drilling Company LLC
- Hanwha Ocean Co. Ltd.
- Hercules Offshore Inc.
- Aban Offshore Limited
- Maersk Drilling
For more information about this report visit https://www.researchandmarkets.com/r/s6d59o
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