Jack Up Rig Market by Type and Geography - Forecast and Analysis 2022-2026

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71470
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The jack up rig market's share is expected to increase by USD 3.43 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.24%.

This jack up rig market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (MODU, TIV, and barges) and geography (APAC, MEA, North America, Europe, and South America). The jack up rig market report also offers information on several market vendors, including ARO Drilling, China Oilfield Services Ltd., Diamond Offshore Drilling Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, Saipem SpA, Seadrill Ltd., The Drilling Co. of 1972 AS, and Valaris Plc, among others.

What will the Jack Up Rig Market Size be During the Forecast Period?

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Jack Up Rig Market: Key Drivers and Challenges

The high consumption of oil and gas energy is notably driving the jack up rig market growth, although factors such as environmental concerns associated with oil and gas exploration and production activities may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the jack up rig industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Jack Up Rig Market Driver

Although renewable energy is emerging, the demand for oil and gas is still significant in the industrial sector. The consumption of oil and gas is expected to remain the same during the forecast period due to rising industrialization in developing countries such as India and China. As developing countries are urbanizing rapidly, they are also witnessing substantial growth in the demand for energy. Thus, the consumption of liquid fuels and natural gas has increased. The high consumption of oil and gas energy across the world has led to high demand for these products, and this, in turn, will drive market growth during the forecast period. 

Key Jack Up Rig Market Challenge

Oil and gas are used as fuel in vehicles, space heating in buildings, and manufacturing products such as plastics and fertilizers. Although oil and gas products make life easier, oil and gas exploration and production activities have adversely impacted the environment. Oil and gas drilling activities cause serious damage to the environment, in various ways, including oil spills and air and water pollution due to toxic chemical emissions and climate change because of methane emissions. Environmental concerns have adversely impacted oil and gas exploration and production activities. It can lead to the enforcement of stringent regulations, which can affect drilling projects and hamper the growth of the global jack up rig market.

This jack up rig market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Jack Up Rig Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ARO Drilling
  • China Oilfield Services Ltd.
  • Diamond Offshore Drilling Inc.
  • KCA Deutag Alpha Ltd.
  • Nabors Industries Ltd.
  • Noble Corp. Plc
  • Saipem SpA
  • Seadrill Ltd.
  • The Drilling Co. of 1972 AS
  • Valaris Plc

 

This statistical study of the jack up rig market encompasses successful business strategies deployed by the key vendors. The jack up rig market is concentrated, and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The jack up rig market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Jack Up Rig Market?

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40% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for jack up rigs in APAC. Market growth in this region will be faster than the growth of the market in MEA, North America, South America, and Europe.

The increasing demand for energy from developing countries such as China and India will facilitate the jack up rig market's growth in APAC during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Jack Up Rig Market?

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The jack up rig market share growth by the MODU segment will be significant during the forecast period. The increasing financial viability and profitability of offshore exploration and production activities will contribute to this segment's growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the jack up rig market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Jack Up Rig Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.24%

Market growth 2022-2026

USD 3.43 billion

Market structure

Concentrated

YoY growth (%)

4.94

Regional analysis

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

Performing market contribution

APAC at 40%

Key consumer countries

China, the US, India, the UAE, Iran (Islamic Republic of Iran), and Mexico

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ARO Drilling, China Oilfield Services Ltd., Diamond Offshore Drilling Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, Saipem SpA, Seadrill Ltd., The Drilling Co. of 1972 AS, and Valaris Plc

Market dynamics

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

Customization purview

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What are the Key Data Covered in this Jack Up Rig Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive the jack up rig market's growth during the next five years
  • Precise estimation of the jack up rig market's size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the jack up rig industry across APAC, MEA, North America, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the jack up rig market's vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • MODU - Market size and forecast 2021-2026
    • TIV - Market size and forecast 2021-2026
    • Barges - Market size and forecast 2021-2026
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2021-2026
      • MEA - Market size and forecast 2021-2026
      • North America - Market size and forecast 2021-2026
      • Europe - Market size and forecast 2021-2026
      • South America - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • ARO Drilling
      • China Oilfield Services Ltd.
      • Diamond Offshore Drilling Inc.
      • KCA Deutag Alpha Ltd.
      • Nabors Industries Ltd.
      • Noble Corp. Plc
      • Saipem SpA
      • Seadrill Ltd.
      • The Drilling Co. of 1972 AS
      • Valaris Plc

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • 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.

      TechnavioINFORMATION 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
      Technavio

      TechnavioDATA 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
      Technavio

      TechnavioREPORT WRITING

      Qualitative

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

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The jack up rig market growth will increase by $3431.36 million during 2021-2026.
      The jack up rig market is expected to grow at a CAGR of 5.24% during 2021-2026.
      Technavio has segmented the jack up rig market by type (MODU, TIV, and Barges) and geographic (APAC, MEA, North America, Europe, and South America).
      ARO Drilling, China Oilfield Services Ltd., Diamond Offshore Drilling Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, Saipem SpA, Seadrill Ltd., The Drilling Co. of 1972 AS, Valaris Plc are a few of the key vendors in the jack up rig market.
      APAC will register the highest growth rate of 40.46% among the other regions. Therefore, the jack up rig market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • US
      • India
      • UAE
      • Iran (Islamic Republic of Iran)
      • Mexico
      The key factors driving the jack up rig market growth are:
      • High consumption of oil and gas energy
      The jack up rig market vendors should focus on grabbing business opportunities from the modu segment as it accounted for the largest market share in the base year.
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