Drillships Market by Application and Geography - Global Forecast and Analysis 2019-2023

The global drillships market size will grow by USD 3.57 billion during 2019-2023. This market report provides a detailed analysis of the market by application (ultra-deepwater and deepwater) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors including Diamond Offshore Drilling Inc., Ensco Rowan Plc, Noble Corp. Plc, Samsung Heavy Industries Co. Ltd., and Transocean Ltd. 

Key Insights of Drillships Market – Global Forecast 2019-2023

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Market Outlook

The oil and gas industry is increasingly adopting Big Data analytics to boost the production efficiency of oilfields. Big Data analytics provides insights which help companies enhance their productivity of oil and gas E&P operations, prevent equipment malfunction and make informed business decisions. Although the use of Big Data analytics is in the nascent stage in the oil and gas industry, its implementation is expected to significantly increase the productivity of drilling operations. The availability of efficient and reliable information through Big Data analytics will boost its adoption in oil and gas drilling activities in remote locations including deepwater and ultra-deepwater environments. The increasing use of Big Data in oil and gas drilling activities will be a critical drillships market trend which will have a positive impact on the growth of the drillships market size.

Drillships are preferred over other drilling units for offshore oil and gas drilling because of their ability to drill at greater depths. For instance, newly developed drillships can drill up to 12,000 feet whereas other offshore drilling units can only drill up to 5,000 feet. Drillships not only provide greater ease of mobility and higher transit speed but are also cost-effective. These factors coupled with the growing need for safer and cost-effective drilling technologies will boost the demand of drillships for offshore drilling activities. The advantages of drillships over other offshore drilling units will be a significant factor fueling the growth of the drillships market size at a CAGR of almost 11% during the forecast period.

Top Companies in the Drillships Market

The global drillships market is fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this drillships market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.

The report offers a detailed analysis of several leading drillship companies including:

• Diamond Offshore Drilling Inc.
• Ensco Rowan Plc
• Noble Corp. Plc
• Samsung Heavy Industries Co. Ltd.
• Transocean Ltd.

Market Segmentation

Drillships Market by Application

• Ultra-deepwater
• Deepwater

The ultra-deepwater segment will account for the highest drillships market share. The increasing investments in oil and gas drilling will boost the demand for ultra-deepwater drilling activities. This report provides an accurate prediction of the contribution of all the segments to the growth of the drillships market size.

Drillships Market by Region

• APAC
• Europe
• MEA
• North America
• South America

With a complete study of the growth opportunities for the companies, it has been identified that the MEA region will account for the highest share of the drillships market throughout the forecast period. The increasing number of offshore drilling activities in MEA will also contribute to the drillships market size growth in this region.

Key Highlights of the Drillships Market – Forecast 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the drillships market during the next five years
• Precise estimation of the global drillships market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the drillships industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of drillships companies

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