Global Offshore Drilling Rigs
Market Report
2025
The global offshore drilling rigs market size is USD 73.25 billion in 2024. The offshore drilling rigs market will show strongest growth with a compound annual growth rate (CAGR) of 6.86% from 2024 to 2031. Technological development is responsible for this evolution.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global offshore drilling rigs market size is USD 73.25 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 6.86% from 2024 to 2031.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Offshore Drilling Rigs Market Sales Revenue | $ 73.25 Billion | 121212 | 121212 | 121212 | 6.86% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Service |
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Market Split by Delivery Mode |
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Market Split by Application |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Offshore Drilling Rigs Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Offshore drilling rigs are big constructions utilized for the extraction, processing, and storing of petroleum derivatives and energy sources. Drilling reservoirs, collecting, transforming, and preserving petroleum and natural gas until it is transported to be refined and sold are all done using these rigs. Offshore rigs are becoming more and more popular due to the growing need for refined petroleum. Offshore drilling rig consumption will also increase as inshore fossil fuel reservoirs develop. Growth in the industry is being aided by innovations generated offshore. Growing operational expenditure is fueling the offshore drilling rig industry as it pertains to both profound and ultra-deepwater applications.
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In June 2024, Transocean Ltd. (NYSE: RIG) ("Transocean") and a standalone contractor in the US Gulf of Mexico prolonged the Deepwater Industries Asgard agreement by a full year. This initiative is projected to start as an immediate expansion of the rig's ongoing operations and add further services, with an unpaid contribution of about $188 million.
(Source: https://www.deepwater.com/news/detail?ID=28681)
Top Companies Market Share in Offshore Drilling Rigs Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America emerged as the dominant region in the offshore drilling rigs market due to the possibility that there are more reserves of energy, which raises the need for drilling rigs for exploitation and regular upkeep. Sustainability and legislation are also major determinants of the offshore drilling industry in the region.
Asia-Pacific stands out as the fastest-growing region in the offshore drilling rigs market because of the investigations and the rising need for electricity. The interaction of technology breakthroughs, legal structures, financial growth, and ecological concerns will determine the future course of offshore drilling operations in this area.
The current report Scope analyzes Offshore Drilling Rigs Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Offshore Drilling Rigs Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Offshore Drilling Rigs Industry growth. Offshore Drilling Rigs market has been segmented with the help of its Service, Delivery Mode Application, and others. Offshore Drilling Rigs market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, Drilling services are the dominant category. Drilling services are in high demand because of innovations in technology like improved ways of drilling and apparatus. Drilling service providers continually develop methods to enhance ecological responsibility, protection, and drilling productivity, which is contributing to the segment's strong expansion.
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This report provides a comprehensive forecast of revenue growth for the Offshore Drilling Rigs industry at the global, regional, and country levels, from 2019 to 2031. It includes a detailed analysis of the latest industry trends and identifies key opportunities for each Delivery Mode segment of machinery and equipment. The analysis covers demand across various end-use industries, such as automotive, HVAC, construction, energy, and others. By examining these application segments, the report helps stakeholders understand the factors driving growth in specific sectors and identify high-potential areas for investment and innovation. To perform a thorough Delivery Mode segment analysis, the report considers several key factors. These include industry-specific demand patterns, technological advancements in machinery, and regional growth trends that influence specific applications. Additional factors such as regulatory requirements, supply chain dynamics, end-user preferences, and market competition are also examined to assess how they impact the adoption and performance of machinery in different sectors. The analysis further includes confidential insights like value chain evaluation, patent trends, and company performance metrics (through a Company Evaluation Quadrant), providing a complete view of each application’s evolution within the machinery and equipment market. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Some of the key Delivery Mode of Offshore Drilling Rigs are:
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Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Offshore Drilling Rigs Market is witnessing significant growth in the near future.
In 2023, the Drilling Services segment accounted for noticeable share of global Offshore Drilling Rigs Market and is projected to experience significant growth in the near future.
The Bottom-supported Platforms segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Transocean Ltd. (Switzerland) , Noble Corporation plc (United Kingdom) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Service | Drilling Services, Contract Drilling Services |
Delivery Mode | Bottom-supported Platforms, Floating Platforms, Jack-up rigs |
Application | Shallow Water, Deep Water, Ultra-Deep Water |
End User | Oil Companies, Gas Companies, Offshore Contractors |
List of Competitors | Transocean Ltd. (Switzerland), Seadrill Limited (United Kingdom), Noble Corporation plc (United Kingdom), Diamond Offshore Drilling, Inc. (United States), EnscoRowan (United Kingdom), Pacific Drilling S.A. (Luxembourg), Maersk Drilling (Denmark), Shelf Drilling, Ltd. (United Arab Emirates), COSL - China Oilfield Services Limited (China), Borr Drilling Limited (Bermuda), Vantage Drilling International (Cayman Islands), Valaris plc (United Kingdom), Nabors Industries Ltd. (Bermuda), Paragon Offshore (United Kingdom), Awilco Drilling PLC (United Kingdom), Sevan Drilling ASA (Norway), Northern Drilling Ltd. (Bermuda), Ocean Rig UDW Inc. (Marshall Islands), Fred. Olsen Energy ASA (Norway), Rowan Companies plc (United Kingdom) |
This chapter will help you gain GLOBAL Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review Global Offshore Drilling Rigs Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review North America Offshore Drilling Rigs Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review Europe Offshore Drilling Rigs Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review Asia Pacific Offshore Drilling Rigs Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review South America Offshore Drilling Rigs Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review Middle East Offshore Drilling Rigs Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Offshore Drilling Rigs. Further deep in this chapter, you will be able to review Middle East Offshore Drilling Rigs Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Offshore Drilling Rigs. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Service Analysis 2019 -2031, will provide market size split by Service. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Service Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Delivery Mode Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Application Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by End User Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Offshore Drilling Rigs market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Drilling Services have a significant impact on Offshore Drilling Rigs market? |
What are the key factors affecting the Drilling Services and Contract Drilling Services of Offshore Drilling Rigs Market? |
What is the CAGR/Growth Rate of Bottom-supported Platforms during the forecast period? |
By type, which segment accounted for largest share of the global Offshore Drilling Rigs Market? |
Which region is expected to dominate the global Offshore Drilling Rigs Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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