Insights on the Global Drilling Rig Market 2020-2024: COVID-19 Industry Analysis, Market Trends, Market Growth, Opportunities and Forecast 2024 - Technavio

NEW YORK, March 4, 2021 /PRNewswire/ -- The drilling rig market is expected to grow by 18.35 bn, progressing at a CAGR of over 7% during the forecast period. Get Free Sample Report in MINUTES

The growth in oil and gas demand is one of the major factors propelling the market growth. However, factors such as fluctuations in global crude oil prices will hamper the market growth.

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Drilling Rig Market: Application Landscape

Based on the application, the onshore segment is expected to witness lucrative growth during the forecast period.

Drilling Rig Market: Geographic Landscape

By geography, North America is going to have a lucrative growth during the forecast period. About 38% of the market's overall growth is expected to originate from North America. The US is a key market for drilling rigs in the region. The growing demand for new-generation automated drilling rigs will significantly influence drilling rig market growth in this region. 

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Companies Covered:

• 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.

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2020, 2021, until 2025
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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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Key Topics Covered:
Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• 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

Customer landscape

Geographic Landscape

• 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
• Volume driver - Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• 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

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.

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