The Global Floating Rigs Market size is expected to reach US$ 135.18 Billion by 2027 from US$ 61.92 Billion in 2020, at a CAGR of 11.8% during the forecast period.State of the Global Floating Rigs Market:
Rigs are vast structures or machines that are used in the process of drilling a wellbore. So that drill oil wells offshore, either a floating or bottom-supported rig is essential. Rig demand is expected to increase by above 16.5 percent between 2021 to 2023. On average demand of above 473 units in 2020 rising to approximately 550 units in 2021. On the floater side, Semisubmersibles demand could increase from 69 to 84 units (21.7 percent), whereas drillship demand is estimated to increase from 60 to 79 units (32.2 percent).To know about the Research Methodology :- Request Free Sample Report While these demand increases are front-loaded with more programs noticeable in the short term, it is likely that many drilling campaigns continue to be postponed, which would lower demand in 2020. This is mainly true the longer the price of oil remains low and moderately unstable, particularly in the face of cheap onshore alternatives.
Activity increasing in the Golden Triangle
In general, the increase in floater demand because of a minor reappearance in the Golden Triangle is expected to drive the growth of the market. Floater activity continues to drive overall South America. For example, Guyana alone potentially is having up to five units working for ExxonMobil in 2021. Demand for semis in South America is forecast to climb from an average of 4.9 units in 2020 to 10.4 in 2021, while drillship demand could climb from an average of 14.5 rigs in 2020 to 23.6 at end of 2021, though that could be a somewhat positive jump. A new trend expects to see more of going forward are floaters moving between the US and Mexican sectors of the Gulf, mostly during the primary stages of exploratory drilling by foreign operators in Mexico's deep waters. However, the bulk of the programs in Mexico are generally short and difficult to project. As such, with work in Trinidad & Tobago providing a boost to the numbers, floater demand will average 2.2 semis & 2.2 drillships this year, but those figures could go either way over the next 2 years depending on how successful ongoing exploration campaigns are in Mexico. Further East Africa is expected to play a major role in growing floater demand as discoveries made over the last few years get developed. For instance, Mozambique, particularly, has several long-term development programs forthcoming with Anadarko, Eni, and ExxonMobil.Demand outlook For the Global Floating Rigs Market:
As oil company operators transfer focus to deepwater fields because of increasing break-even costs of shallow-water fields. Following this trend, utilization expected to recover above 80% by 2023, because of the large number of retirements and continued deferment of the order book. MMR analysts expected that supply will remain relatively stable through 2027, leading utilization to recover to 80% by 2027 and long-term floater-supply growth to reach about 13% by 2035. The report has covered the market trends from 2015 to forecast the market through 2027. The report focuses on the floating rigs market value at the top regions and countries of the world, which shows a regional development, including market size, share, revenue, and much more across the globe. The report has covered, capacity, production value, cost/profit, and supply/demand by statistical analysis. A brief analysis of drivers, restraints, opportunities, and challenges in the market is also covered with examples by region. 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. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments, and key trends in the market.Global Floating Rigs Market Scope: Inquire before buying
Global Floating Rigs Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: US $ 61.92 Bn. Forecast Period 2021 to 2027 CAGR: 11.8% Market Size in 2027: US $ 135.18 Bn. Segments Covered: by Type • Submersibles • Semisubmersibles • Fixed Platforms • Jackups Rigs • Drill Ships by Applications • Shallow water • Deepwater • Ultra-Deepwater Global Floating Rigs Market, by Region
• North America • Europe • Asia Pacific • Middle East & Africa • South AmericaGlobal Floating Rigs Market Key Players
• Transocean Limited • Noble Corporation • RIGZONE • Hyundai Heavy Industries Corporation Ltd. • Technip S.A • Baker Hughes • Schlumberger Limited • Aban Offshore Limited • Diamond Offshore Drilling • Ensco Plc • Halliburton • Maersk Drilling • Keppel Offshore & Marine. • Others
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Floating Rigs Market Size, by Market Value (US$ Billion) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Floating Rigs Market 3.4. Geographical Snapshot of the Floating Rigs Market, By Manufacturer share 4. Global Floating Rigs Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Floating Rigs Market 5. Supply Side and Demand Side Indicators 6. Global Floating Rigs Market Analysis and Forecast, 2020-2027 6.1. Global Floating Rigs Market Size & Y-o-Y Growth Analysis. 7. Global Floating Rigs Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 7.1.1. Submersibles 7.1.2. Semisubmersibles 7.1.3. Fixed Platforms 7.1.4. Jackups Rigs 7.1.5. Drill Ships 7.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 7.2.1. Shallow water 7.2.2. Deepwater 7.2.3. Ultra-Deepwater 8. Global Floating Rigs Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Floating Rigs Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 9.1.1. Submersibles 9.1.2. Semisubmersibles 9.1.3. Fixed Platforms 9.1.4. Jackups Rigs 9.1.5. Drill Ships 9.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 9.2.1. Shallow water 9.2.2. Deepwater 9.2.3. Ultra-Deepwater 10. North America Floating Rigs Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Floating Rigs Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 11.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 12. Canada Floating Rigs Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 12.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 13. Mexico Floating Rigs Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 13.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 14. Europe Floating Rigs Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 14.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 15. Europe Floating Rigs Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Floating Rigs Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 16.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 17. France Floating Rigs Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 17.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 18. Germany Floating Rigs Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 18.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 19. Italy Floating Rigs Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 19.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 20. Spain Floating Rigs Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 20.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 21. Sweden Floating Rigs Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 21.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 22. CIS Countries Floating Rigs Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 22.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 23. Rest of Europe Floating Rigs Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 23.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 24. Asia Pacific Floating Rigs Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 24.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 25. Asia Pacific Floating Rigs Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Floating Rigs Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 26.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 27. India Floating Rigs Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 27.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 28. Japan Floating Rigs Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 28.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 29. South Korea Floating Rigs Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 29.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 30. Australia Floating Rigs Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 30.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 31. ASEAN Floating Rigs Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 31.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 32. Rest of Asia Pacific Floating Rigs Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 32.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 33. Middle East Africa Floating Rigs Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 33.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 34. Middle East Africa Floating Rigs Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Floating Rigs Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 35.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 36. GCC Countries Floating Rigs Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 36.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 37. Egypt Floating Rigs Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 37.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 38. Nigeria Floating Rigs Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 38.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 39. Rest of ME&A Floating Rigs Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 39.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 40. South America Floating Rigs Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 40.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 41. South America Floating Rigs Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Floating Rigs Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 42.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 43. Argentina Floating Rigs Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 43.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 44. Rest of South America Floating Rigs Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Type, 2020-2027 44.2. Market Size (Value) Estimates & Forecast By Applications, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Floating Rigs Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Transocean Limited 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Noble Corporation 45.3.3. RIGZONE 45.3.4. Hyundai Heavy Industries Corporation Ltd. 45.3.5. Technip S.A 45.3.6. Baker Hughes 45.3.7. Schlumberger Limited 45.3.8. Aban Offshore Limited 45.3.9. Diamond Offshore Drilling 45.3.10. Ensco Plc 45.3.11. Halliburton 45.3.12. Maersk Drilling 45.3.13. Keppel Offshore & Marine. 45.3.14. Others 46. Primary Key Insights