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Offshore Drilling Market Forecast to 2022

Friday, December 2, 2016 3:31
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(Before It's News)

Study Objectives of Offshore Drilling Market

  • To provide detailed analysis of the market structure along with forecast for the next 5 years of the various segments and sub-segments of the Global Offshore Drilling Market
  • To provide insights about factors affecting the market growth
  • To Analyze the Global Offshore Drilling Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to six main geographies and their countries- North America, Europe, Asia, and Rest of the World (RoW)
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segments by application, by services and by region
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
  • To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Offshore Drilling Market.

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Market Synopsis of Offshore Drilling Market

Market Scenario

Declining oil prices has had a significant impact on the Oil & Gas industry. Recovering from the recent downturn the oil and gas industry is witnessing stabilization. The market for offshore drilling is expected to witness growth in the forecast period mainly due to the increasing investments in regions with proven oil reserves. Additionally the declining oil prices have motivated certain market players to increase production in proven oil reserves rather than engaging in exploration activities which is expected to drive the market.

With the stabilizing oil prices the Oil and Gas Industry and steadily increasing investment the Oil and Gas industry will have a scope of engaging in new projects in the forecast period which will contribute to the increasing demand in the Offshore Drilling Market.

Key Findings

The key findings of the report “Global Offshore Drilling Market includes:

  • Depleting oil reservoirs and increasing number of mature oil fields are major factors driving the growth of the Offshore Drilling market
  • Shallow and Deep water drilling segment is expected to show high growth in the initial stages in terms of application
  • Geographically, North America has the largest share in global offshore drilling market, and is also expected to experience the fastest revival during the forecast period.

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Segments

The market for Offshore Drilling has been segmented on the basis of services, and application. Market categorization based on services includes sub-segments contract drilling, directional drilling, and logging while drilling. With respect to application, the market has been divided into shallow water, deepwater, and ultra-deep water sub-segments. The regional segmentation identifies the market with respect to major regions namely, North America, Europe, Asia-Pacific, South America Middle East, and Africa.

Regional Analysis of Offshore Drilling Market

The Asia-Pacific region is expected to be a key region for the offshore drilling market mainly due to the recent discoveries of oil and gas in the offshore basin of Australia and Gulf of Thailand. Combining that with the increasing demand for oil and gas in these regions the market for offshore drilling is expected to achieve high growth. The North American region is expected to witness comparatively faster growth than the Asia-Pacific region due to aggressive offshore exploration projects being undertaken in this region.

Key Players

Some of the key players for this market are: Transocean Ltd. (Switzerland), Diamond Offshore Drilling Inc. (U.S.), Ensco Plc (U.K.), Seadrill Ltd. (Bermuda), Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Inc. (U.S.), and Weatherford International Ltd. (Switzerland)..

Scope for Regional Analysis

  • North America

o U.S.

o Mexico

o Others

  • Europe

o U.K.

o Norway

o Rest Of Europe

  • Asia–Pacific

o China

o India

o Indonesia

o Australia

o Rest Of Asia-Pacific

  • South America

o Brazil

o Rest Of South America

  • Middle East

o Saudi Arabia

o UAE

o Qatar

o Iran

o Rest Of Middle East

  • Africa

o Angola

o Nigeria

o Egypt

o Rest Of Africa

…CONTINUED

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