Subject: MRR
Drilling Rig Market size to grow by USD 14.73 bn from 2021 to 2025|Technavio
NEW YORK, Oct. 15, 2021 /PRNewswire/ -- Technavio's latest offering, the drilling rig market report, provides a detailed analysis of the competitive scenario and market growth across various regions. The market is estimated to grow by USD 14.73 bn from 2021 to 2025, growing at a CAGR of 5.26%.
Download a Free Sample report to explore more growth opportunities in the drilling rig market.
Market Dynamics
Factors such as an increase in oil and gas demand and rising investments in the upstream oil and gas sector will be crucial in driving the growth of the market. However, environmental concerns associated with oil and gas drilling activities will restrict the market growth.
Company Profiles
The drilling rig market report includes information on product launches, sustainability, and prospects of leading vendors, including Archer Ltd., Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, NOV Inc., Patterson-UTI Energy Inc., Transocean Ltd., and Valaris Plc.
Competitive Analysis
The report includes the competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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Market Segmentation
- By Application, the market is classified into onshore and offshore segments. The onshore segment contributes the largest share of the market.
- By geography, the market is classified into North America, MEA, Europe, APAC, and South America. North America will have the largest share of the market
Download a Free Sample Report for more information about various segments of the drilling rig market
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- Geothermal Drilling Market: The geothermal drilling market has been segmented by application (binary plants and steam plants) and geography (Europe, APAC, North America, MEA, and South America). Request a Free Sample
Drilling Rig Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 5.26% |
Market growth 2021-2025 | USD 14.73 billion |
Market structure | Fragmented |
YoY growth (%) | 4.58 |
Regional analysis | North America, MEA, Europe, APAC, and South America |
Performing market contribution | North America at 37% |
Key consumer countries | US, Russian Federation, China, Saudi Arabia, and Canada |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Archer Ltd., Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Nabors Industries Ltd., Noble Corp. Plc, NOV Inc., Patterson-UTI Energy Inc., Transocean Ltd., and Valaris Plc |
Market Dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus 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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