Offshore Drilling Market: Latest Innovations, Drivers and Industry Key Events 2019 – 2026

The GMI Research’s market research report is a professional and in-depth study on the current state of the market, which covers numerous aspects of the industry, such as the market size, market status, market trends, and forecast. The market report also offers brief information related to the competitors and the specific growth opportunities with key market drivers.

The Offshore Drilling Market drivers and trends are as follows:

The major factors contributing to the growth of the global offshore drilling market include the liberalization of the Mexican oil & gas industry, rising investment in developing economies, and the growing technological advancement globally. The increasing price of crude oil is projected to grow the investment for exploration and production (E&P) activities, which will lead to an upsurge in the number of upcoming projects, thus propelling the demand for offshore drilling. Furthermore, the increasing demand for oil & gas at a global level and the rising focus on deepwater drilling are anticipated to surge the offshore location's drilling activities. The increasing population, followed by growing disposable income, has accelerated natural gas usage for household cooking purposes. The subsidy provided by governments on household LPG usage is a major factor bolstering the natural gas demand. Growing demand for natural gas is also projected to positively influence the market in the upcoming years.

Technological advancement and the rising capacity for investments in infrastructure are projected to accelerate the oilfield drilling activities in the upcoming years. Owing to the presence of vast untapped reserves, the oil & gas companies are changing from shallow-water drilling to ultra-deepwater drilling. On the other hand, oil price variation and capital intensive are hampering the growth of the market. Environmental issues related to deepwater exploration are also projected to hinder the market growth in the upcoming years. On the other edge of the spectrum, environmental issues caused by petrochemical products will restraint market growth.

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Key Benefits of the Report:

This report offers an analytical depiction of the offshore drilling market while providing the current trends and future estimations to determine the imminent investment pockets.
This study illustrates every relevant information, including the market drivers, restraints, and emerging opportunities, followed by a detailed analysis of the offshore drilling market share.
The report also provides a detailed offshore drilling market analysis based on competitive intensity and how the competition will take shape over the next six years.

Various companies covered in the Offshore Drilling Market report:

Halliburton Company
Schlumberger Limited
Seadrill Limited
Transocean Ltd.
Weatherford International Ltd.
Atwood Oceanics, Inc.
Baker Hughes Incorporated
China Oilfield Services Limited
Diamond Offshore Drilling Inc.
Dolphin Drilling AS
Maersk Drilling

Segmentation of the Offshore Drilling Market:

Breakup by Service:

Offshore Contract Drilling Market
Offshore Directional Drilling Market
Offshore Logging While Drilling Market (LWD)
Offshore Measurement While Drilling (MWD)

Breakup by Application:

Shallow Water Drilling Market
Deepwater Drilling Market
Ultra-Deepwater Drilling Market

Breakup by Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

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