Land Drilling Rigs Market by Type and Geography - Forecast and Analysis 2021-2025

Published: Mar 2021 Pages: 120 SKU: IRTNTR70432

The land drilling rigs market has the potential to grow by USD 3.26 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 2.68%.

This land drilling rigs 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 (conventional rigs and mobile rigs) and geography (MEA, North America, APAC, Europe, and South America). The market report also offers information on several market vendors, including Archer Ltd., Cactus Drilling Co. LLC, Drillmec Spa, Helmerich & Payne Inc., KCA Deutag Alpha Ltd., and Nabors Industries Ltd., among others.

What will the Land Drilling Rigs Market Size be in 2021?

Browse TOC and LoE with selected illustrations and example pages of Land Drilling Rigs Market

 Get Your FREE Sample Now!

Land Drilling Rigs Market: Key Drivers and Trends

The rising global oil and gas consumption is notably driving the land drilling rigs market growth, although factors such as uncertainties associated with low crude oil prices may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the land drilling rigs industry get your FREE report sample now.

  • The increasing global oil and gas consumption will be one of the major factors that will have a positive impact on the land drilling rigs market during the forecast period. 
  • Factors such as the unavailability of extra storage capacities for crude oil in most of the oil-producing countries and the rising need to cater to the growing need for fuel have led the oil companies to look for greenfield oil wells in the new and existing oil fields. 
  • The introduction of new generation automated drilling rigs is one of the key land drilling rigs market trends that will contribute to the market’s growth in the forthcoming years.
  • Advantages such as continuous repetition of tasks, improvement in operational efficiency, and lesser costs in the extraction of crude oil will lead to the demand for new generation automated drilling rigs in the global market.

This land drilling rigs market analysis report also provides detailed information on upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Land Drilling Rigs Market Vendors?

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

 

  • Archer Ltd.
  • Cactus Drilling Co. LLC
  • Drillmec Spa
  • Helmerich & Payne Inc.
  • KCA Deutag Alpha Ltd.
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Parker Drilling Co.
  • Patterson-UTI Energy Inc.
  • Weatherford International Plc

 

The land drilling rigs market is fragmented and the vendors are deploying growth strategies such as M&A, joint ventures, contracts, and agreements to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from 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.

Download a free sample of the land drilling rigs market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Land Drilling Rigs Market?

For more insights on the market share of various regions Request for a FREE sample now!

40% of the market’s growth will originate from MEA during the forecast period. Saudi Arabia is a key market for land drilling rigs in MEA. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

The discovery of major gas reserves in Mozambique and Tanzania and increased exploration activities in Uganda and Kenya will facilitate the land drilling rigs market growth in MEA over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Type Segments in the Land Drilling Rigs Market?

To gain further insights on the market contribution of various segments Request for a FREE sample

The land drilling rigs market share growth by the conventional rigs segment will be significant during the forecast period. Conventional rigs are commonly used in the oil and gas industry. A typical conventional rotary drilling rig system has many features such as high mechanization, flexible operation, and the ability to be configured with different drill bits based on the strata. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the land drilling rigs market size.

 

Request for a FREE sample

What are the Key Factors Covered in this Land Drilling Rigs Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive land drilling rigs market growth during the next five years
  • Precise estimation of the land drilling rigs market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the land drilling rigs industry across MEA, North America, APAC, 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 land drilling rigs market vendors

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

Land Drilling Rigs Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2021-2025

$ 3.26 billion

Market structure

Fragmented

YoY growth (%)

1.34

Regional analysis

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

Performing market contribution

MEA at 40%

Key consumer countries

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

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Archer Ltd., Cactus Drilling Co. LLC, Drillmec Spa, Helmerich & Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., National Oilwell Varco Inc., Parker Drilling Co., Patterson-UTI Energy Inc., and Weatherford International 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 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.

Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    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
    • Conventional rigs - Market size and forecast 2020-2025
    • Mobile rigs - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • MEA - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption
      • Competitive Scenario

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Archer Ltd.
      • Cactus Drilling Co. LLC
      • Drillmec Spa
      • Helmerich & Payne Inc.
      • KCA Deutag Alpha Ltd.
      • Nabors Industries Ltd.
      • National Oilwell Varco Inc.
      • Parker Drilling Co.
      • Patterson-UTI Energy Inc.
      • Weatherford International 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.

      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

      land drilling rigs 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