Offshore Drilling Rigs Market Segmentation:
Type Segment Analysis
Offshore drilling rigs market from the jack-up rigs segment is anticipated to grow majorly with a share of 36% during the foreseen period. The expansion of the market is being driven by the steadily increasing demand for jack-up rigs, particularly in the Middle East. Leading jack-up fleet owners also predict that in the upcoming quarters, the global demand for contemporary jack-up fleets will approach 95%. Additionally, there are several offshore development projects in progress across the globe, and because jack-up drilling can operate in both severe conditions and moderate water depths, it is used in these projects for oilfield services.
Water Depth Segment Analysis
Offshore drilling rigs market from the deepwater and ultra-deepwater segment is expected to hold a substantial share of 53% by the end of 2035. Large undiscovered oil and gas reserves are found in deepwater and ultra-deepwater locations. Oil and gas corporations increasingly concentrate on finding and producing hydrocarbon resources from these deepwater and ultra-deepwater areas as onshore and shallow-water reserves run out. It fuels the demand for drilling rigs equipped to work in such demanding conditions. To safeguard future energy supply, governments and energy firms also spend money on offshore exploration and production. Several places throughout the world, including the Gulf of Mexico, Brazil's pre-salt reserves, West Africa, and the Asia-Pacific region, are actively exploring and developing deepwater and ultra-deepwater regions. The increased need for deepwater and ultra-deepwater drilling rigs is a result of these investments.
Our in-depth analysis of the global market includes the following segments:
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