Drilling Rig Market by Application, Type, and Geography - Forecast and Analysis 2023-2027

Published: Dec 2022 Pages: 167 SKU: IRTNTR40382

Drilling Rig Market Forecast Report 2023-2027

The drilling rig market is estimated to grow by USD 15.36 billion at a CAGR of 6.16% between 2022 and 2027. Various factors are playing a crucial role in driving the growth of the market, which includes a considerable increase in the demand for oil and gas, augmented investments in the upstream oil and gas sector, and a shift in focus towards unconventional oil and gas exploration and production activities. These factors are contributing significantly to the expansion of the market. This market research and growth report includes key drivers, trends, and challenges during the forecasted period. 

What will be the size of the Market During the Forecast Period?

To learn more about this report, Download Report Sample

Market Dynamics and Customer Landscape

The market encompasses the exploration and production of petroleum resources, particularly in untapped regions, where oil and gas discoveries continue to be made in challenging environments. These environments include shallow water, deep water, and ultra-deep water. Drilling rigs, such as jack up rigs, Semi submersible rigs, and drill ship, play a crucial role in accessing these resources. Operational companies are constantly innovating and investing in drilling technologies to mitigate environmental concerns and improve infrastructure efficiency. For instance, the Winterfell Project, a first-of-its-kind drilling operation, employs advanced technologies to extract natural gas from deepwater and ultra-deepwater reservoirs. As natural gas consumption continues to rise, the demand in the exploration and production of these resources is expected to grow. The market is dynamic, with ongoing advancements in drilling technologies and the discovery of new offshore discoveries in various regions. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The increase in oil and gas demand is notably driving market growth. Countries such as China and India are witnessing rising industrialization and urbanization. As developing countries are urbanizing rapidly, they are also witnessing substantial growth in the demand for energy. This has significantly increased the demand globally.

Subsequently, oil and gas E&P companies are increasing their drilling activities to boost the production of oil and gas to meet the increasing demand. Due to this, the global active rig count is increasing. Therefore, the rise in the global demand will fuel these activities. This, in turn, will drive the market growth and trends during the forecast period.

Significant Market Trends

The rise in deep-water and ultra-deepwater E&P activities is an emerging market trend. Upstream oil and gas companies have been exploring deep-water and ultra-deepwater resources due to the presence of large untapped reserves. Also, the depletion of resources in easily accessible locations, such as onshore has led oil and gas E&P companies to look for less explored areas, such as deep-water and ultra-deepwater. These projects are becoming more financially viable because of the increase in global crude oil prices.

According to an estimate by the US EIA, global offshore deep-water oil production will increase by 2.7 mbpd between 2017 and 2040. Offshore oil and gas investments are expected to grow at a CAGR of 11.78% during 2018-2021. The rise in these activities in offshore deepwater and ultra-deep-water oil and gas wells will stimulate the demand during the forecast period, thereby driving the growth of the market in focus.

Major Market Challenge

Fluctuations in global crude oil prices are a major challenge impeding market growth. Investment decisions and profits of upstream companies depend entirely on the prices of oil and gas. Hence, any fluctuations in the prices of oil and gas will adversely affect their revenues. Fluctuations in crude oil prices can also lead to the cancelation or rescheduling of oil and gas E&P projects.

During 2020, crude oil prices consistently declined due to a supply-demand imbalance. However, in 2021 prices were increased. Such instances influence the profitability and performance of oil and gas E&P companies. This results in slow growth or even a decline in E&P activities, including delays and cancellations of drilling projects. All these factors are hindering the growth of the market.

Customer Landscape

The market growth and forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Market Segmentation

The market encompasses various types of advanced equipment, including drillships and jack up rigs, employed in exploration activities for crude oil and natural gas in challenging environments. They utilize the technologies such as artificial neural networks and machine learning to optimize drilling activities and improve operational efficiency. The market is driven by investment initiatives from energy companies to expand infrastructure in deepwater and offshore areas, where hydrocarbon reserves are abundant. Drillships, equipped with dynamic positioning systems, enable drilling in deeper waters and harsher marine environments. The first oil from these discoveries requires significant fossil fuel consumption, necessitating the need for advanced drilling techniques to minimize environmental effects and ensure compliance with regulatory requirements. Offshore infrastructure development and the increasing natural gas requirement further bolster market growth.

By Application

The market share growth by the onshore segment will be significant during the forecast period. Onshore drilling rigs, also known as land drilling rigs, are available in different sizes and power capabilities based on their applications. The demand for these rigs is increasing due to the growth in shale drilling, directional drilling, multilateral drilling, and sour good drilling.

Get a glance at the market contribution of various segments Request a PDF Sample

The onshore segment showed a gradual increase in the market share of USD 33.85 billion in 2017 and continued to grow by 2021. The onshore segment is capable of handling more pressure in adverse ambient environments and are more efficient, which is leading to their higher demand. Also, the operating cost of these activities is relatively lower than offshore oil and gas drilling activities, as the latter needs advanced technologies and equipment for drilling deeper wells in harsh environmental conditions. Such benefits are driving the growth of the segment.

Key Regions

For more insights on the market share of various regions Request PDF Sample now!

North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American market has experienced substantial growth, driven primarily by the US and Canada, two major producers. The rise of unconventional exploration and production (E&P) activities, including shale production in the US and oil sands in Canada, has significantly increased crude oil and gas output. This development is also fueling its demand. In particular, the use of semi-submersible rigs in shallow water and shelf drilling has become prevalent. Pipelines and storage facilities are essential infrastructure for transporting and storing the extracted resources. Streamlined permitting processes and advanced subsea systems enable efficient drilling in ultra deepwater and untapped regions. Notable projects, such as the Winterfell and Ultra Water initiatives, showcase the industry's commitment to innovation and expansion.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product launches, to enhance their presence in the market.

Archer Ltd. - The company operates a fleet of AC-powered land drilling-rigs in Latin America.

The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

  • AP Moller Maersk AS
  • China Oilfield Services Ltd.
  • Eni Spa
  • Helmerich and Payne Inc.
  • KCA Deutag Alpha Ltd.
  • Loews Corp.
  • Nabors Industries Ltd.
  • Noble Corp.
  • NOV Inc.
  • ParkerDrilling Co.
  • Patterson UTI Energy Inc.
  • PR MarriottDrilling Ltd.
  • PrecisionDrilling Corp.
  • Schlumberger Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

The market encompasses a wide range of technologies and services, including challenge, crude, and drilling ships, as well as Onshore and Offshore rigs. These rigs are essential for extracting natural resources, particularly oil and natural gas, from the earth. The market is driven by various factors, such as increasing energy demand, technological advancements, and government regulations. Challenge rigs, for instance, are used for drilling in extreme conditions, such as Arctic regions. Crude drilling rigs, on the other hand, are designed for deep waters.

Onshore rigs are used for drilling in land areas, while offshore rigs are used for drilling in the ocean. The use of advanced technologies, such as automation and remote operations, is becoming increasingly common in the drilling rig industry. This not only enhances safety and efficiency but also reduces operational costs. The market is expected to grow significantly in the coming years due to the increasing demand for energy and the ongoing exploration and production activities. In conclusion, the market plays a crucial role in the energy sector by providing the necessary infrastructure for extracting natural resources. The market is driven by various factors, including technological advancements, increasing energy demand, and government regulations. The use of advanced technologies is becoming increasingly common, enhancing safety, efficiency, and reducing operational costs.

The market is propelled by the demand for energy resources, particularly in Deepwater and ultra deepwater activities locations, where exploration and production activities are challenging yet essential for accessing significant oil and gas reserves. The drill ship and offshore drilling rigs play a crucial role in these operations, enabling well intervention and extraction in marine environments. With the increasing fossil fuel requirements, there are substantial investment opportunities in offshore exploration and production activities, especially in ultra deep water regions. The market's growth is further driven by advancements in technology, allowing operations at greater operating depths while ensuring safety and efficiency. Despite challenges, the global market remains pivotal in meeting global energy demands and driving hydrocarbon exploration in offshore areas.

Segment Overview

The market analysis and report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

  • Application Outlook 
    • Onshore
    • Offshore
  • Type Outlook 
    • Crude oil
    • Natural gas
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa
    • South America
      • Chile
      • Brazil
      • Argentina

Market Scope

Market Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.16%

Market growth 2023-2027

USD 15.36 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

5.15

Regional analysis

North America, Middle East and Africa, Europe, APAC, and South America

Performing market contribution

North America at 37%

Key countries

US, Canada, Saudi Arabia, China, and Russia

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

AP Moller Maersk AS, Archer Ltd., China Oilfield Services Ltd., Eni Spa, Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Loews Corp., Nabors Industries Ltd., Noble Corp., NOV Inc., ParkerDrilling Co., Patterson UTI Energy Inc., PR Marriott-Drilling Ltd., Precision-Drilling Corp., Schlumberger Ltd., Seadrill Ltd., Stena AB, Transocean Ltd., Valaris Plc, and Weatherford International Plc

Market dynamics

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

Customization purview

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

Request PDF sample

What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market industry across North America, Middle East and Africa, Europe, APAC, and South America
  • Thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of the key market companies

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global drilling rig market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global drilling rig market 2017 - 2021 ($ billion)
    • 4.2 Application Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)
    • 4.3 Type Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Application

    • 6.1 Market segments
      • Exhibit 30: Chart on Application - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Application - Market share 2022-2027 (%)
    • 6.2 Comparison by Application
      • Exhibit 32: Chart on Comparison by Application
      • Exhibit 33: Data Table on Comparison by Application
    • 6.3 Onshore - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Onshore - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 35: Data Table on Onshore - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Chart on Onshore - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Onshore - Year-over-year growth 2022-2027 (%)
    • 6.4 Offshore - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Offshore - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 39: Data Table on Offshore - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 40: Chart on Offshore - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Offshore - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Application
      • Exhibit 42: Market opportunity by Application ($ billion)

    7 Market Segmentation by Type

    • 7.1 Market segments
      • Exhibit 43: Chart on Type - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on Type - Market share 2022-2027 (%)
    • 7.2 Comparison by Type
      • Exhibit 45: Chart on Comparison by Type
      • Exhibit 46: Data Table on Comparison by Type
    • 7.3 Crude oil - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Crude oil - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 48: Data Table on Crude oil - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 49: Chart on Crude oil - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Crude oil - Year-over-year growth 2022-2027 (%)
    • 7.4 Natural gas - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Natural gas - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 52: Data Table on Natural gas - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Chart on Natural gas - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Natural gas - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Type
      • Exhibit 55: Market opportunity by Type ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 59: Chart on Geographic comparison
      • Exhibit 60: Data Table on Geographic comparison
    • 9.3 North America - Market size and forecast 2022-2027
      • Exhibit 61: Chart on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 62: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 63: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 64: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.4 Middle East and Africa - Market size and forecast 2022-2027
      • Exhibit 65: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 67: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 APAC - Market size and forecast 2022-2027
      • Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)
    • 9.7 South America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)
    • 9.8 US - Market size and forecast 2022-2027
      • Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.9 Russia - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Russia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 86: Data Table on Russia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 87: Chart on Russia - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Russia - Year-over-year growth 2022-2027 (%)
    • 9.10 China - Market size and forecast 2022-2027
      • Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.11 Saudi Arabia - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Saudi Arabia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 94: Data Table on Saudi Arabia - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 95: Chart on Saudi Arabia - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Saudi Arabia - Year-over-year growth 2022-2027 (%)
    • 9.12 Canada - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 101: Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 102: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 104: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 105: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 106: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 107: Matrix on vendor position and classification
            • 12.3 Archer Ltd.
              • Exhibit 108: Archer Ltd. - Overview
              • Exhibit 109: Archer Ltd. - Business segments
              • Exhibit 110: Archer Ltd. - Key offerings
              • Exhibit 111: Archer Ltd. - Segment focus
            • 12.4 China Oilfield Services Ltd.
              • Exhibit 112: China Oilfield Services Ltd. - Overview
              • Exhibit 113: China Oilfield Services Ltd. - Business segments
              • Exhibit 114: China Oilfield Services Ltd. - Key offerings
              • Exhibit 115: China Oilfield Services Ltd. - Segment focus
            • 12.5 Eni Spa
              • Exhibit 116: Eni Spa - Overview
              • Exhibit 117: Eni Spa - Business segments
              • Exhibit 118: Eni Spa - Key offerings
              • Exhibit 119: Eni Spa - Segment focus
            • 12.6 Helmerich and Payne Inc.
              • Exhibit 120: Helmerich and Payne Inc. - Overview
              • Exhibit 121: Helmerich and Payne Inc. - Business segments
              • Exhibit 122: Helmerich and Payne Inc. - Key offerings
              • Exhibit 123: Helmerich and Payne Inc. - Segment focus
            • 12.7 KCA Deutag Alpha Ltd.
              • Exhibit 124: KCA Deutag Alpha Ltd. - Overview
              • Exhibit 125: KCA Deutag Alpha Ltd. - Business segments
              • Exhibit 126: KCA Deutag Alpha Ltd. - Key news
              • Exhibit 127: KCA Deutag Alpha Ltd. - Key offerings
              • Exhibit 128: KCA Deutag Alpha Ltd. - Segment focus
            • 12.8 Nabors Industries Ltd.
              • Exhibit 129: Nabors Industries Ltd. - Overview
              • Exhibit 130: Nabors Industries Ltd. - Business segments
              • Exhibit 131: Nabors Industries Ltd. - Key news
              • Exhibit 132: Nabors Industries Ltd. - Key offerings
              • Exhibit 133: Nabors Industries Ltd. - Segment focus
            • 12.9 Noble Corp.
              • Exhibit 134: Noble Corp. - Overview
              • Exhibit 135: Noble Corp. - Product / Service
              • Exhibit 136: Noble Corp. - Key offerings
            • 12.10 NOV Inc.
              • Exhibit 137: NOV Inc. - Overview
              • Exhibit 138: NOV Inc. - Business segments
              • Exhibit 139: NOV Inc. - Key offerings
              • Exhibit 140: NOV Inc. - Segment focus
            • 12.11 Patterson UTI Energy Inc.
              • Exhibit 141: Patterson UTI Energy Inc. - Overview
              • Exhibit 142: Patterson UTI Energy Inc. - Business segments
              • Exhibit 143: Patterson UTI Energy Inc. - Key news
              • Exhibit 144: Patterson UTI Energy Inc. - Key offerings
              • Exhibit 145: Patterson UTI Energy Inc. - Segment focus
            • 12.12 PR Marriott Drilling Ltd.
              • Exhibit 146: PR Marriott Drilling Ltd. - Overview
              • Exhibit 147: PR Marriott Drilling Ltd. - Product / Service
              • Exhibit 148: PR Marriott Drilling Ltd. - Key offerings
            • 12.13 Precision Drilling Corp.
              • Exhibit 149: Precision Drilling Corp. - Overview
              • Exhibit 150: Precision Drilling Corp. - Business segments
              • Exhibit 151: Precision Drilling Corp. - Key offerings
              • Exhibit 152: Precision Drilling Corp. - Segment focus
            • 12.14 Schlumberger Ltd.
              • Exhibit 153: Schlumberger Ltd. - Overview
              • Exhibit 154: Schlumberger Ltd. - Business segments
              • Exhibit 155: Schlumberger Ltd. - Key news
              • Exhibit 156: Schlumberger Ltd. - Key offerings
              • Exhibit 157: Schlumberger Ltd. - Segment focus
            • 12.15 Seadrill Ltd.
              • Exhibit 158: Seadrill Ltd. - Overview
              • Exhibit 159: Seadrill Ltd. - Business segments
              • Exhibit 160: Seadrill Ltd. - Key offerings
              • Exhibit 161: Seadrill Ltd. - Segment focus
            • 12.16 Transocean Ltd.
              • Exhibit 162: Transocean Ltd. - Overview
              • Exhibit 163: Transocean Ltd. - Product / Service
              • Exhibit 164: Transocean Ltd. - Key offerings
            • 12.17 Valaris Plc
              • Exhibit 165: Valaris Plc - Overview
              • Exhibit 166: Valaris Plc - Business segments
              • Exhibit 167: Valaris Plc - Key offerings
              • Exhibit 168: Valaris Plc - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 169: Inclusions checklist
                • Exhibit 170: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 171: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 172: Research methodology
                • Exhibit 173: Validation techniques employed for market sizing
                • Exhibit 174: Information sources
              • 13.5 List of abbreviations
                • Exhibit 175: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

              PURCHASE FULL REPORT OF

              drilling rig market

              QUICK BUY

              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

              Why should you prefer Technavio's market insights report?

              • Off-the-shelf research reports
              • Reports can be tailored to meet the customer's needs
              • Trusted by more than 100 fortune 500 organizations
              • Information about the market's key drivers, trends, and challenges
              • Parent market analysis
              • Every week, 50,000 people visit our subscription platform
              • Detailed vendors report with competitive landscape
              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis