Attractive Opportunities in Drilling Rig Market by Application and Geography - Forecast and Analysis 2021-2025

Attractive Opportunities in Drilling Rig Market by Application and Geography - Forecast and Analysis 2021-2025

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NEW YORK, Oct. 15, 2021 /PRNewswire/ -- Technavio's latest offering, the drilling rig market report, provides a detailed analysis of the competitive scenario and market growth across various regions. The market is estimated to grow by USD 14.73 bn from 2021 to 2025, growing at a CAGR of 5.26%.

Download a Free Sample report to explore more growth opportunities in the drilling rig market.

Market Dynamics

Factors such as an increase in oil and gas demand and rising investments in the upstream oil and gas sector will be crucial in driving the growth of the market. However, environmental concerns associated with oil and gas drilling activities will restrict the market growth.

Company Profiles

The drilling rig market report includes information on product launches, sustainability, and prospects of leading vendors, including Archer Ltd., Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, NOV Inc., Patterson-UTI Energy Inc., Transocean Ltd., and Valaris Plc.

Competitive Analysis

The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

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Market Segmentation

  • By Application, the market is classified into onshore and offshore segments. The onshore segment contributes the largest share of the market.
  • By geography, the market is classified into North America, MEA, Europe, APAC, and South America. North America will have the largest share of the market

Download a Free Sample Report for more information about various segments of the drilling rig market

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Drilling Rig Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.26%

Market growth 2021-2025

USD 14.73 billion

Market structure

Fragmented

YoY growth (%)

4.58

Regional analysis

North America, MEA, Europe, APAC, and South America

Performing market contribution

North America at 37%

Key consumer countries

US, Russian Federation, China, Saudi Arabia, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Archer Ltd., Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, NOV Inc., Patterson-UTI Energy Inc., Transocean Ltd., and Valaris Plc

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio

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