Report Code: A10521 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Drilling Rigs Market
Request Now !A drilling rig is a kind of equipment used for drilling wells in the oil and gas industries. These drilling rigs come in different shapes and sizes and can be both static and mobile. It is not only used to identify reservoirs but is also employed for creating holes in order to extract oil and natural gas from the reservoirs. Drilling rigs are also used in the mining industries for rock blasting purposes.
COVID-19 scenario analysis:
The outbreak of the COVID-19 pandemic has severely affected the drilling rigs market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The rapid industrial development and urbanization across the world have created an ever increasing demand for fuel in the market. As a result, the oil and gas companies have increased the exploration activities and this has acted as a major driver for the growing demand of drilling rigs around the world. The drilling rigs offer efficient solutions for the drilling activities that are essential for the oil and gas companies. With the rapid technological developments, modern drilling rigs are being introduced that are easy to move and can be taken to remote places very easily and at a lower expense. Such developments are expected to boost the global drilling rigs market in near future. However, high operational cost and fluctuating prices of crude oil might act as a restraining factor for the market. But on the brighter side, the growing number of deep-water and ultra-deep-water oil and gas excavation activities in countries such as Brazil, Nigeria and others is expected to drive the growth of the global drilling rigs market in the near future.
The North American region accounts for a significant share of the global drilling rigs market with rapid growth in the oil and gas industry in the region. The market in the Middle East and Africa is also expected to witness a lucrative growth in demand for drilling rigs due to the presence of high number of oil and gas industries in the region.
Key benefits of the report:
Drilling Rigs Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
Aspects | Details |
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By Operational Depth |
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Key Market Players | China Oilfield Services Ltd, Maersk Drilling, Aban Offshore Limited, Halliburton, Schlumberger, Ensco plc, Seadrill,, Pacific Drilling, Nabors Industries Ltd, KCA Deutag, Vantage Drilling Co., Nobel Corporation., Diamond Offshore Drilling Inc., Weatherford International Inc. |
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