LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global drilling rig market and it is poised to grow by USD 18.35 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Archer Ltd., China Oilfield Services Ltd., Helmerich & Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., National Oilwell Varco Inc., Noble Corp. Plc, Patterson-UTI Energy Inc., Transocean Ltd., and Valaris Plc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The growth in oil and gas demand has been instrumental in driving the growth of the market.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/drilling-rig-market-industry-analysis
Drilling Rig Market 2020-2024: Segmentation
Drilling Rig Market is segmented as below:
- North America
- South America
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Drilling Rig Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The drilling rig market report covers the following areas:
- Drilling Rig Market Size
- Drilling Rig Market Trends
- Drilling Rig Market Industry Analysis
This study identifies the growing demand for new-generation automated drilling rigs as one of the prime reasons driving the drilling rig market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Drilling Rig Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist drilling rig market growth during the next five years
- Estimation of the drilling rig market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the drilling rig market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of drilling rig market, vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
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 Application
- Market segments
- Comparison by Application
- Onshore - Market size and forecast 2019-2024
- Offshore - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Archer Ltd.
- China Oilfield Services Ltd.
- Helmerich & Payne Inc.
- KCA Deutag Alpha Ltd.
- Nabors Industries Ltd.
- National Oilwell Varco Inc.
- Noble Corp. Plc
- Patterson-UTI Energy Inc.
- Transocean Ltd.
- Valaris Plc
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.