Offshore Drilling Rigs Market Research Report – Forecast to 2027

Offshore Drilling Rigs Market Research Report: Information by Type (Drillship, Jack-up Rig, Semi-submersible), Operating Depth (Shallow Water, Deep Water, Ultra-Water), and Region (North America, Asia Pacific, Europe, RoW) - Forecast till 2027

ID: MRFR/E&P/1996-HCR | February 2021 | Region: Global | 110 pages

Impact of COVID-19 on the Global Offshore Drilling Rig Market
Offshore Drilling Rig Market


Source: Primary Experts, Secondary Sources and MRFR Analysis


The COVID-19 pandemic has majorly impacted the business growth of most of the countries across the world. Additionally, the virus is in the process of drowning the global economy. Several countries are dealing with the life-threatening COVID-19 and following a partial or total lockdown to curb the spread of the virus. The spread of the pandemic in China, which is gradually expanding in all the regions of the world, has drastically drop down the demand and price of crude oil. This has significantly restricted the growth of the global market. Moreover, according to the study conducted by EIA, there is a significant decrease in the demand for liquid fuels during the first half of 2020, owing to the pandemic travel restrictions and disruptions to the business. The significant impacts of COVID-19 are expected to occur in the second quarter of 2020.


The various environmental issues and strict government regulations are some of the major concerns for the growth of the offshore drilling rigs market. The governments in several affected countries have already announced the shutdown and are mandating the public to maintain social distancing norms. The disrupting effects of COVID-19, which has forced the government to change the regulations, has affected the market growth. The shutdown of the businesses owing to the lockdown and closure of factories resulted in the delays in the offshore projects, which is hampering the growth of the offshore drilling rigs market.


FIGURE: WORLD CRUDE OIL AND LIQUID FUELS PRODUCTION
WORLD CRUDE OIL AND LIQUID FUELS PRODUCTION


Source: U.S. Energy Information Administration


According to the study conducted by EIA, OPEC crude oil production is expected to drop down below 24.1 million b/d in June. It is estimated that if the OPEC production of crude oil drops to less than 24.1 million b/d than it is anticipated to be the last level of production since March 1995. OPEC production of crude oil is expected to increase in July 2020 in response to the increasing prices and demand for oil. The study says that OPEC production capacity is expected to average 5.8 million b/d during the third quarter of 2020. In the second half of 2021, OPEC production is expected to increase over an average of 28.5 million b/d. In most countries, various oil fields and export ports are shut during the lockdown, which resulted in no production from January.

Table of Contents

1 Executive Summary

2 Research Methodology

2.1 Scope of the Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market size Estimation

2.4 Forecast Model

3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter’s Five Forces Analysis

4 Global Offshore Drilling Rigs Market, By Type

4.1 Introduction

4.2 Drillships

4.3 Jackup Rigs

4.4 Semi-Submersibles

5 Global Offshore Drilling Rigs market, By Operating Depth

5.1 Introduction

5.2 Shallow water

5.3 Deep water

5.4 Ultra water

6 Regional Market Analysis

6.1 Introduction

6.2 North America

6.2.1 U.S.

6.2.2 Canada

6.3 Europe

6.3.1 U.K

6.3.2 France

6.3.3 Germany

6.3.4 Spain

6.3.5 Rest of Europe

6.4 Asia-Pacific

6.4.1 China

6.4.2 Japan

6.4.3 India

6.4.4 Rest of Asia-Pacific

6.5 Rest of the World

7 Competitive Analysis

7.1 Introduction

7.2 Competitive Scenario

7.2.1 Market Share Analysis

7.2.2 Market Development Analysis

7.2.3 Type/Service Benchmarking

7.3 Aban Offshore Limited

7.3.1 Overview

7.3.2 Type/Service Offering

7.3.3 Strategy

7.4 China Oilfield Services Ltd

7.4.1 Overview

7.4.2 Type/Service Offering

7.4.3 Strategy

7.5 Ensco plc

7.5.1 Overview

7.5.2 Type/Service Offering

7.5.3 Strategy

7.6 Diamond Offshore Drilling Inc

7.6.1 Overview

7.6.2 Type/Service Offering

7.6.3 Strategy

7.7 Vantage Drilling Co

7.7.1 Overview

7.7.2 Type/Service Offering

7.7.3 Strategy

7.8 Pacific Drilling

7.8.1 Overview

7.8.2 Type/Service Offering

7.8.3 Strategy

7.9 KCA Deutag

7.9.1 Overview

7.9.2 Type/Service Offering

7.9.3 Strategy

7.10 Maersk Drilling

7.10.1 Overview

8.10.2 Type/Service Offering

7.10.3 Strategy

7.11 Nabors Industries Ltd

7.11.1 Overview

7.11.2 Type/Service Offering

7.11.3 Strategy

7.12 Nobel Corporation

7.12.1 Overview

7.12.2 Type/Service Offering

7.12.3 Strategy

LIST OF TABLES

TABLE 1 GLOBAL OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 2 GLOBAL OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 3 GLOBAL OFFSHORE DRILLING RIGS MARKET, BY REGIONS

TABLE 4 NORTH AMERICA OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 5 NORTH AMERICA OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 6 U.S. OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 7 U.S. OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 8 CANADA OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 9 CANADA OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 10 EUROPE OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 11 EUROPE OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 12 GERMANY OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 13 GERMANY OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 14 FRANCE OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 15 FRANCE OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 16 U.K. OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 17 U.K. OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 18 REST OF EUROPE OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 19 REST OF EUROPE OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 20 ASIA-PACIFIC OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 21 ASIA-PACIFIC OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

TABLE 22 ROW OFFSHORE DRILLING RIGS MARKET, BY TYPE

TABLE 23 ROW OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH

LIST OF FIGURES

FIGURE 1 RESEARCH METHODOLOGY

FIGURE 2 GLOBAL OFFSHORE DRILLING RIGS MARKET: BY TYPE (%)

FIGURE 3 GLOBAL OFFSHORE DRILLING RIGS MARKET: BY OPERATING DEPTH (%)

FIGURE 4 GLOBAL OFFSHORE DRILLING RIGS MARKET: BY REGION

FIGURE 5 NORTH AMERICA OFFSHORE DRILLING RIGS MARKET, BY TYPE (%)

FIGURE 6 NORTH AMERICA OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH (%)

FIGURE 7 EUROPE OFFSHORE DRILLING RIGS MARKET, BY TYPE (%)

FIGURE 8 EUROPE OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH (%)

FIGURE 9 ASIA-PACIFIC OFFSHORE DRILLING RIGS MARKET, BY TYPE (%)

FIGURE 10 ASIA-PACIFIC OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH (%)

FIGURE 11 ROW OFFSHORE DRILLING RIGS MARKET, BY TYPE (%)

FIGURE 12 ROW OFFSHORE DRILLING RIGS MARKET, BY OPERATING DEPTH (%)