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Drilling Rigs Market Projected to Gain Significant Value by 2017 – 2025

Global keyword market – A brief by TMRR

In its new business intelligence study, analysts at TMRR find that the global keyword market has been growing with a CAGR of xx% over the historic period of 2014-2018, reaching a value of ~US$ xx Bn/Mn in 2018. Further, the report suggests that rising demand from consumers, enhanced buying capacity, and increasing investments are set to drive the keyword market at a CAGR of xx% over the forecast timeframe 2019-2029.

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segmentation, key trends and opportunities, investment feasibility, and vendor landscape.

Global Drilling Rigs Market: Trends and Opportunities

Due to the increasing drilling activities worldwide, the demand for drilling rigs has significantly risen especially in offshore regions. As onshore drilling activities have reached maturity, no alternatives are left aside from explore offshore reserved, owing to which the enterprises operating in the drilling rigs market are focusing on the latter. Therefore, on account of having huge offshore crude oil reserves, European countries such as Spain and Norway have gained prominence in the global drilling rigs market.  

According to the Oil and Gas Journal, a larger portion of crude oil reserves in Norway is located in the offshore region of the Norwegian Continental Shelf. The region is further divided into North Sea, Barents Sea, and Norwegian Sea. Among these, North Sea accounts for a major share in the overall oil production in Norway, besides Norwegian Sea. The market therefore witnesses huge opportunities to gain from in Europe, which makes it one of the most lucrative regions to explore by leading players.

Global Drilling Rigs Market: Key Segments

The global drilling rigs market can be majorly segmented into land rigs and marine rigs. The marine rigs segment can be further classified into bottom supported rigs and floating rigs. As several explorations are carried out using marine drilling rigs, their demand is evidently higher in the market. Marine drills are also used in production activities, which is fuelling their demand around the world. The rising exploration of crude oil in offshore regions will therefore help in the segment’s expansion in the coming years.

By type, the global drilling rigs market can be segmented into rotary rigs, A-frame rigs, large mud rotary drill rigs, tracked rigs, truck mounted drill rigs, and portable minuteman rigs. The market is further segmented based on power into hydraulic, electric, steam, and mechanical drilling. The report provides a round-up of the segments that would prove most lucrative for the enterprises operating in the global drilling rigs market. It also identifies key restraints, which could limit the scope of expansion for market players across the aforementioned segments.

Global Drilling Rigs Market: Vendor Landscape

Some of the most prominent enterprises operating in the global drilling rigs market include Simco Drilling Equipment Inc, Bauer Maschinen GmbH, Weatherford International Ltd., Dando Drilling International, Baker Hughes Inc, Maersk Drilling, Haliburton Company, Schlumberger Ltd, Schramm Inc, and Nabors Drilling.

The report delves into studying the various strategies adopted by the companies profiled and the impact of the same on the overall market operations. It conducts SWOT analysis to present insights into the strengths and weaknesses of the leading market players. The analysis also helps the report foretell opportunities and threats that these companies may face over the course of the forecast period. 

The keyword market study assesses every stakeholder by SWOT analysis, market share, company profile, and revenue.

The keyword market study highlights the key regions offering worthwhile opportunities to market players, alongwith important countries.

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Questions answered in the keyword market research:

  1. How does the global keyword market on the basis of region over the historic and forecast period?
  2. What innovative strategies are the keyword players executing to outperform their competitors?
  3. Which regions are showcasing the slowest growth in the keyword market?
  4. What value did the keyword market reach in 2018?
  5. By product type, which segment currently leads the global keyword market?

Key findings of the keyword market report:

  • Analysis of each keyword market player as per its strengths, weaknesses, opportunities and threats.
  • Analytical research of each keyword manufacturer, such as market share, regional footprint, and product innovations.
  • Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
  • Fluctuating preferences among consumers across various regions and countries.
  • Individual company profile of prominent stakeholders.

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Why choose TMRR?

  • Consistent interaction with relevant local distributors, and service providers for precise industry-related data.
  • Approach research scientists for innovative manufacturing processes.
  • Our data base captures 1.2 Mn+ data points every year.
  • AI-enabled business solutions to provide clients an edge over.
  • Available 24/7.

This post was originally published on Space Market Research

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