- December 12, 2019
- Category: Chemicals and Material, Oil and Gas Industry
Global Floating Rigs Market Size study with COVID-19 impact, by Type (Jackup Rigs, Semi-Submersibles Rigs, Drill ships Rigs), by Application (Shallow Water, Deepwater, Ultra-Deepwater) and Regional Forecasts 2020-2027
Chapter 1. Executive Summary 1.1. Market Snapshot 1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Billion) 1.2.1. Floating Rigs Market, by Region, 2018-2027 (USD Billion) 1.2.2. Floating Rigs Market, by Type, 2018-2027 (USD Billion) 1.2.3. Floating Rigs Market, by Application, 2018-2027 (USD Billion) 1.3. Key Trends 1.4. Estimation Methodology 1.5. Research Assumption Chapter 2. Global Floating Rigs Market Definition and Scope 2.1. Objective of the Study 2.2. Market Definition & Scope 2.2.1. Scope of the Study 2.2.2. Industry Evolution 2.3. Years Considered for the Study 2.4. Currency Conversion Rates Chapter 3. Global Floating Rigs Market Dynamics 3.1. Floating Rigs Market Impact Analysis (2018-2027) 3.1.1. Market Drivers 3.1.2. Market Challenges 3.1.3. Market Opportunities Chapter 4. Global Floating Rigs Market Industry Analysis 4.1. Porter’s 5 Force Model 4.1.1. Bargaining Power of Suppliers 4.1.2. Bargaining Power of Buyers 4.1.3. Threat of New Entrants 4.1.4. Threat of Substitutes 4.1.5. Competitive Rivalry 4.1.6. Futuristic Approach to Porter’s 5 Force Model (2017-2027) 4.2. PEST Analysis 4.2.1. Political 4.2.2. Economical 4.2.3. Social 4.2.4. Technological 4.3. Investment Adoption Model 4.4. Analyst Recommendation & Conclusion Chapter 5. Global Floating Rigs Market, by Type 5.1. Market Snapshot 5.2. Global Floating Rigs Market by Type, Performance - Potential Analysis 5.3. Global Floating Rigs Market Estimates & Forecasts by Type 2017-2027 (USD Billion) 5.4. Floating Rigs Market, Sub Segment Analysis 5.4.1. Cough, Cold, and Flu Products 5.4.2. Jackup Rigs 5.4.3. Semi-Submersibles Rigs 5.4.4. Drill ships Rigs Chapter 6. Global Floating Rigs Market, by Application 6.1. Market Snapshot 6.2. Global Floating Rigs Market by Application, Performance - Potential Analysis 6.3. Global Floating Rigs Market Estimates & Forecasts by Application 2017-2027 (USD Billion) 6.4. Floating Rigs Market, Sub Segment Analysis 6.4.1. Shallow Water 6.4.2. Deepwater 6.4.3. Ultra-Deepwater Chapter 7. Global Floating Rigs Market, Regional Analysis 7.1. Floating Rigs Market, Regional Market Snapshot 7.2. North America Floating Rigs Market 7.2.1. U.S. Floating Rigs Market 220.127.116.11. Type breakdown estimates & forecasts, 2017-2027 18.104.22.168. Application breakdown estimates & forecasts, 2017-2027 7.2.2. Canada Floating Rigs Market 7.3. Europe Floating Rigs Market Snapshot 7.3.1. U.K. Floating Rigs Market 7.3.2. Germany Floating Rigs Market 7.3.3. Rest of Europe Floating Rigs Market 7.4. Asia-Pacific Floating Rigs Market Snapshot 7.4.1. China Floating Rigs Market 7.4.2. India Floating Rigs Market 7.4.3. Japan Floating Rigs Market 7.4.4. Rest of Asia Pacific Floating Rigs Market 7.5. Latin America Floating Rigs Market Snapshot 7.5.1. Brazil Floating Rigs Market 7.5.2. Mexico Floating Rigs Market 7.6. Rest of The World Floating Rigs Market Chapter 8. Competitive Intelligence 8.1. Top Market Strategies 8.2. Company Profiles 8.2.1. Aban Offshore Limited 22.214.171.124. Key Information 126.96.36.199. Overview 188.8.131.52. Financial (Subject to Data Availability) 184.108.40.206. Product Summary 220.127.116.11. Recent Developments 8.2.2. Atwood Oceanics 8.2.3. China Oilfield Services Limited. 8.2.4. Diamond Offshore Drilling Inc. 8.2.5. Ensco PLC 8.2.6. Hercules Offshore Inc. 8.2.7. KCA Deutag 8.2.8. Maersk Drilling 8.2.9. Nabors Industries Ltd. 8.2.10. Noble Corporation Chapter 9. Research Process 9.1. Research Process 9.1.1. Data Mining 9.1.2. Analysis 9.1.3. Market Estimation 9.1.4. Validation 9.1.5. Publishing 9.2. Research Attributes 9.3. Research Assumption
Global Floating Rigs Market is valued approximately USD 102 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 9.3% over the forecast period 2020-2027. Floating rig is a machine designed to drill exploration and development wells from mobile offshore. Reliant on the depth of water and the remoteness of the area, a distinct type of a rig is utilized. The rig can be a jackup which is up to 400 feet of water, drillship, or semi-submersible which is up to 12,000 feet of water. However, it requires a few months to assess the location. A floating rig also provide an option to provisionally store oil or natural gas until they brought to the shore for refining and marketing purpose. Rising demand for oil and natural gas, improved viability of Deepwater and ultra-Deepwater projects and price regulations of oil drive offshore exploration activities are the few factors responsible for high CAGR of the market over the forecast period. According to International Energy Agency (IEA), the global daily demand for crude oil is reached almost 100.6 million barrels in 2019, an increase from 96.2 million barrels in 2016. Similarly, as per the Independent Petroleum Association of America (IPPA), the Export of Liquid Natural Gas (LNG) by United States was 3.6 trillion cubic feet (tcf) in 2018 and is likely to reach more than 4 tcf by the year 2024. This, in turn, is expected to accelerate the demand for floating rigs, thus contributing to the growth of the global market. With the outbreak of Covid-19 around the world, the demand for oil & gas is significantly decline, followed by the overabundance in global oil markets that leads to an acute shortage of storage capacities. As a result, producers have to reduce the production by confining down their rigs and oil wells to avoid plunging into deeper financial complications thereby, the requirement of floating rigs will decrease in the recent year. However, high capital investments and environment concerns are also some factors limiting the market growth over the forecast period of 2020-2027.
The regional analysis of global Floating Rigs market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Latin America is the leading/significant region across the world in terms of market share owing to the high offshore potential reserves of oil and gas, along with the rising investment in exploration & production (E&P) CAPEX in the countries. Whereas, Rest of the World (ROW) is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027, due to the rising deep-water oil explorations activities in the region.
Major market player included in this report are:
Aban Offshore Limited
China Oilfield Services Limited.
Diamond Offshore Drilling Inc.
Hercules Offshore Inc.
Nabors Industries Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Drill ships Rigs
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Floating Rigs Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers