Global drilling rig market 2024-2028

Description

List of Tables

The drilling rig market is forecasted to grow by USD 14.6 bn during 2023-2028, accelerating at a CAGR of 5.63% during the forecast period. The report on the drilling rig market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in oil and gas demand, rising investments in upstream oil and gas sector, and increasing focus on unconventional oil and gas e and p activities.

Technavio's drilling rig market is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	5.18%
CAGR	5.63%
Incremental Value	$14.6bn

By Application

Onshore
Offshore

By Type

Crude oil
Natural gas

By Geography

North America
Middle East and Africa
Europe
APAC
South America

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. Also, rise in deep-water and ultra-deepwater e and p activities and technological advances in modus will lead to sizable demand in the market.

The report on the drilling rig market covers the following areas:

Drilling rig market sizing
Drilling rig market forecast
Drilling rig market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading drilling rig market vendors that include AP Moller Maersk AS, Archer Ltd., China Oilfield Services Ltd., Eni SpA, Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Loews Corp., Nabors Industries Ltd., Noble Corp. Plc, NOV Inc., Parker Drilling Co., Patterson UTI Energy Inc., PR Marriott Drilling Ltd., Precision Drilling Corp., Schlumberger Ltd., Seadrill Ltd., Stena AB, Transocean Ltd., Valaris Ltd., and Weatherford International Plc. Also, the drilling rig market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR40382

1 Executive Summary

1.1 Market overview
- Executive Summary - Chart on Market Overview
- Executive Summary - Data Table on Market Overview
- Executive Summary - Chart on Global Market Characteristics
- Executive Summary - Chart on Market by Geography
- Executive Summary - Chart on Market Segmentation by Application
- Executive Summary - Chart on Market Segmentation by Type
- Executive Summary - Chart on Incremental Growth
- Executive Summary - Data Table on Incremental Growth
- Executive Summary - Chart on Company Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Parent Market
- Data Table on - Parent Market
2.2 Market characteristics
- Market characteristics analysis
2.3 Value chain analysis
- Value Chain Analysis

3 Market Sizing

3.1 Market definition
- Offerings of companies included in the market definition
3.2 Market segment analysis
- Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
- Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Drilling Rig Market 2018 - 2022
- Historic Market Size - Data Table on Global Drilling Rig Market 2018 - 2022 ($ billion)
4.2 Application segment analysis 2018 - 2022
- Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.3 Type segment analysis 2018 - 2022
- Historic Market Size - Type Segment 2018 - 2022 ($ billion)
4.4 Geography segment analysis 2018 - 2022
- Historic Market Size - Geography Segment 2018 - 2022 ($ billion)
4.5 Country segment analysis 2018 - 2022
- Historic Market Size - Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
- Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
- Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
- Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
- Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
- Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
- Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Application

6.1 Market segments
- Chart on Application - Market share 2023-2028 (%)
- Data Table on Application - Market share 2023-2028 (%)
6.2 Comparison by Application
- Chart on Comparison by Application
- Data Table on Comparison by Application
6.3 Onshore - Market size and forecast 2023-2028
- Chart on Onshore - Market size and forecast 2023-2028 ($ billion)
- Data Table on Onshore - Market size and forecast 2023-2028 ($ billion)
- Chart on Onshore - Year-over-year growth 2023-2028 (%)
- Data Table on Onshore - Year-over-year growth 2023-2028 (%)
6.4 Offshore - Market size and forecast 2023-2028
- Chart on Offshore - Market size and forecast 2023-2028 ($ billion)
- Data Table on Offshore - Market size and forecast 2023-2028 ($ billion)
- Chart on Offshore - Year-over-year growth 2023-2028 (%)
- Data Table on Offshore - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Application
- Market opportunity by Application ($ billion)
- Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Type

7.1 Market segments
- Chart on Type - Market share 2023-2028 (%)
- Data Table on Type - Market share 2023-2028 (%)
7.2 Comparison by Type
- Chart on Comparison by Type
- Data Table on Comparison by Type
7.3 Crude oil - Market size and forecast 2023-2028
- Chart on Crude oil - Market size and forecast 2023-2028 ($ billion)
- Data Table on Crude oil - Market size and forecast 2023-2028 ($ billion)
- Chart on Crude oil - Year-over-year growth 2023-2028 (%)
- Data Table on Crude oil - Year-over-year growth 2023-2028 (%)
7.4 Natural gas - Market size and forecast 2023-2028
- Chart on Natural gas - Market size and forecast 2023-2028 ($ billion)
- Data Table on Natural gas - Market size and forecast 2023-2028 ($ billion)
- Chart on Natural gas - Year-over-year growth 2023-2028 (%)
- Data Table on Natural gas - Year-over-year growth 2023-2028 (%)
7.5 Market opportunity by Type
- Market opportunity by Type ($ billion)
- Data Table on Market opportunity by Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Chart on Market share By Geographical Landscape2023-2028 (%)
- Data Table on Market share By Geographical Landscape2023-2028 (%)
9.2 Geographic comparison
- Chart on Geographic comparison
- Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
- Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Chart on North America - Year-over-year growth 2023-2028 (%)
- Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Middle East and Africa - Market size and forecast 2023-2028
- Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.5 Europe - Market size and forecast 2023-2028
- Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Chart on Europe - Year-over-year growth 2023-2028 (%)
- Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.6 APAC - Market size and forecast 2023-2028
- Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Chart on APAC - Year-over-year growth 2023-2028 (%)
- Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.7 South America - Market size and forecast 2023-2028
- Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Chart on South America - Year-over-year growth 2023-2028 (%)
- Data Table on South America - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
- Chart on US - Market size and forecast 2023-2028 ($ billion)
- Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Chart on US - Year-over-year growth 2023-2028 (%)
- Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 Russia - Market size and forecast 2023-2028
- Chart on Russia - Market size and forecast 2023-2028 ($ billion)
- Data Table on Russia - Market size and forecast 2023-2028 ($ billion)
- Chart on Russia - Year-over-year growth 2023-2028 (%)
- Data Table on Russia - Year-over-year growth 2023-2028 (%)
9.10 China - Market size and forecast 2023-2028
- Chart on China - Market size and forecast 2023-2028 ($ billion)
- Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Chart on China - Year-over-year growth 2023-2028 (%)
- Data Table on China - Year-over-year growth 2023-2028 (%)
9.11 Saudi Arabia - Market size and forecast 2023-2028
- Chart on Saudi Arabia - Market size and forecast 2023-2028 ($ billion)
- Data Table on Saudi Arabia - Market size and forecast 2023-2028 ($ billion)
- Chart on Saudi Arabia - Year-over-year growth 2023-2028 (%)
- Data Table on Saudi Arabia - Year-over-year growth 2023-2028 (%)
9.12 Canada - Market size and forecast 2023-2028
- Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Chart on Canada - Year-over-year growth 2023-2028 (%)
- Data Table on Canada - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity by geography
- Market opportunity By Geographical Landscape($ billion)
- Data Tables on Market opportunity By Geographical Landscape($ billion)

10 Drivers, Challenges, and Opportunity/Restraints

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
- Impact of drivers and challenges in 2023 and 2028
10.4 Market opportunities/restraints

11 Competitive Landscape

11.1 Overview
11.2 Competitive Landscape
- Overview on criticality of inputs and factors of differentiation
11.3 Landscape disruption
- Overview on factors of disruption
11.4 Industry risks
- Impact of key risks on business

12 Competitive Analysis

12.1 Companies profiled
- Companies covered
12.2 Market positioning of companies
- Matrix on companies position and classification
12.3 Archer Ltd.
- Archer Ltd. - Overview
- Archer Ltd. - Business segments
- Archer Ltd. - Key offerings
- Archer Ltd. - Segment focus
12.4 China Oilfield Services Ltd.
- China Oilfield Services Ltd. - Overview
- China Oilfield Services Ltd. - Business segments
- China Oilfield Services Ltd. - Key offerings
- China Oilfield Services Ltd. - Segment focus
12.5 Eni SpA
- Eni SpA - Overview
- Eni SpA - Business segments
- Eni SpA - Key offerings
- Eni SpA - Segment focus
12.6 Helmerich and Payne Inc.
- Helmerich and Payne Inc. - Overview
- Helmerich and Payne Inc. - Business segments
- Helmerich and Payne Inc. - Key offerings
- Helmerich and Payne Inc. - Segment focus
12.7 KCA Deutag Alpha Ltd.
- KCA Deutag Alpha Ltd. - Overview
- KCA Deutag Alpha Ltd. - Product / Service
- KCA Deutag Alpha Ltd. - Key offerings
12.8 Nabors Industries Ltd.
- Nabors Industries Ltd. - Overview
- Nabors Industries Ltd. - Business segments
- Nabors Industries Ltd. - Key offerings
- Nabors Industries Ltd. - Segment focus
12.9 Noble Corp. Plc
- Noble Corp. Plc - Overview
- Noble Corp. Plc - Product / Service
- Noble Corp. Plc - Key offerings
12.10 NOV Inc.
- NOV Inc. - Overview
- NOV Inc. - Business segments
- NOV Inc. - Key news
- NOV Inc. - Key offerings
- NOV Inc. - Segment focus
12.11 Patterson UTI Energy Inc.
- Patterson UTI Energy Inc. - Overview
- Patterson UTI Energy Inc. - Business segments
- Patterson UTI Energy Inc. - Key offerings
- Patterson UTI Energy Inc. - Segment focus
12.12 PR Marriott Drilling Ltd.
- PR Marriott Drilling Ltd. - Overview
- PR Marriott Drilling Ltd. - Product / Service
- PR Marriott Drilling Ltd. - Key offerings
12.13 Precision Drilling Corp.
- Precision Drilling Corp. - Overview
- Precision Drilling Corp. - Business segments
- Precision Drilling Corp. - Key offerings
- Precision Drilling Corp. - Segment focus
12.14 Schlumberger Ltd.
- Schlumberger Ltd. - Overview
- Schlumberger Ltd. - Business segments
- Schlumberger Ltd. - Key news
- Schlumberger Ltd. - Key offerings
- Schlumberger Ltd. - Segment focus
12.15 Seadrill Ltd.
- Seadrill Ltd. - Overview
- Seadrill Ltd. - Business segments
- Seadrill Ltd. - Key offerings
- Seadrill Ltd. - Segment focus
12.16 Transocean Ltd.
- Transocean Ltd. - Overview
- Transocean Ltd. - Product / Service
- Transocean Ltd. - Key offerings
12.17 Valaris Ltd.
- Valaris Ltd. - Overview
- Valaris Ltd. - Business segments
- Valaris Ltd. - Key offerings
- Valaris Ltd. - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
- Inclusions checklist
- Exclusions checklist
13.3 Currency conversion rates for US$
- Currency conversion rates for US$
13.4 Research methodology
- Research methodology
13.5 Data procurement
- Information sources
13.6 Data validation
- Data validation
13.7 Validation techniques employed for market sizing
- Validation techniques employed for market sizing
13.8 Data synthesis
- Data synthesis
13.9 360 degree market analysis
- 360 degree market analysis
13.10 List of abbreviations
- List of abbreviations