Drillships are preferred over other drilling units for offshore oil and gas drilling owing to its ability to drill at greater depths. Drillships not only provide greater ease of mobility and higher transit speed but are also cost-effective. These factors coupled with the growing need for safer and cost-effective drilling technologies will propel the demand of drillships for offshore drilling activities. In addition, the increasing adopting big data analytics in oil & gas industry, growing oil & gas exploration and production operation, limited viability of offshore drilling units, and greater ease of mobility and higher transit speed of drillships are the prominent factors attributed to the growth of drillships market over the forecast period.
MARKET SCOPE
The "Global Drillships Market Analysis to 2028" is a specialized and in-depth study of the oil & gas industry with a special focus on the global market trend analysis. The report aims to provide an overview of the drillships market with detailed market segmentation by water depth, application and geography. The report provides key statistics on the market status of the leading drillships market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of water depth the market is segmented into less than 3,000 feet, 3,000 - 5,000 feet, 5,000 - 10,000 feet, and more than 10,000 feet
- On the basis application, the market is segmented as shallow water, deep water, and ultra-deepwater
MARKET DYNAMICS
Drivers:
- -
o Growing oil & gas exploration and production operations drives the market growth
o Increasing adopting big data analytics in oil & gas industry fuels the market growth
- -
o Significant completion from products such as jackups and semi-submersible rigs restraints the market growth
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The drillships market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the drillships market in these regions.
IMPACT OF COVID-19 ON DRILLSHIPS MARKET
The emergence of the COVID-19 has severely impacted the oil & gas industries, which resulted decline in the demand for drillships in the year 2020. The pandemic severely impacted the oil & gas industry in countries such as US and China. In addition, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities that has negatively impacted the market dynamics for the short term. The unavailability of raw material and disruption of supply chain due to the pandemic has affects the market prospects. Furthermore, project delays and cancellation of orders has affected the key market. Hence, from 2021, the ease in restriction and increase in demand for oil & gas products have fueled the market growth over the projected period. The growing demand for offshore drilling activities in pandemic recovery period is propelling the market growth. Hence, from 2021, the ease in restriction and opening of marine activities have fueled the market growth over the projected period.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The drillships market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the drillships market in these regions.
IMPACT OF COVID-19 ON DRILLSHIPS MARKET
The emergence of the COVID-19 has severely impacted the oil & gas industries, which resulted decline in the demand for drillships in the year 2020. The pandemic severely impacted the oil & gas industry in countries such as US and China. In addition, governments across the world were compelled to reduce the business activities in response to minimize the threat of coronavirus. Owing the decline in the business activities that has negatively impacted the market dynamics for the short term. The unavailability of raw material and disruption of supply chain due to the pandemic has affects the market prospects. Furthermore, project delays and cancellation of orders has affected the key market. Hence, from 2021, the ease in restriction and increase in demand for oil & gas products have fueled the market growth over the projected period. The growing demand for offshore drilling activities in pandemic recovery period is propelling the market growth. Hence, from 2021, the ease in restriction and opening of marine activities have fueled the market growth over the projected period.
MARKET PLAYERS
The report covers key developments in the drillships market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in drillships market are anticipated to get lucrative growth opportunities in the future owing increase in investments in oil & gas industry in post pandemic scenario.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the drillships market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- DSME Co., Ltd.
- IHI Corporation
- Noble Corporation
- TRANSOCEAN LTD.
- Huisman Equipment B.V.
- Keppel Offshore & Marine
- SMART MARITIME GROUP
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- MAERSK DRILLING
- STENA DRILLING LTD
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Drillships Market - By Water Depth
1.3.2 Drillships Market - By Application
1.3.3 Drillships Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. DRILLSHIPS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. DRILLSHIPS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. DRILLSHIPS MARKET - GLOBAL MARKET ANALYSIS
6.1. DRILLSHIPS - GLOBAL MARKET OVERVIEW
6.2. DRILLSHIPS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. DRILLSHIPS MARKET - REVENUE AND FORECASTS TO 2028 - WATER DEPTH
7.1. OVERVIEW
7.2. WATER DEPTH MARKET FORECASTS AND ANALYSIS
7.3. LESS THAN 3,000 FEET
7.3.1. Overview
7.3.2. Less than 3,000 feet Market Forecast and Analysis
7.4. 3,000 - 5,000 FEET
7.4.1. Overview
7.4.2. 3,000 - 5,000 feet Market Forecast and Analysis
7.5. 5,000 - 10,000 FEET
7.5.1. Overview
7.5.2. 5,000 - 10,000 feet Market Forecast and Analysis
7.6. MORE THAN 10,000 FEET
7.6.1. Overview
7.6.2. More than 10,000 feet Market Forecast and Analysis
8. DRILLSHIPS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SHALLOW WATER
8.3.1. Overview
8.3.2. Shallow Water Market Forecast and Analysis
8.4. DEEP WATER
8.4.1. Overview
8.4.2. Deep Water Market Forecast and Analysis
8.5. ULTRA-DEEPWATER
8.5.1. Overview
8.5.2. Ultra-deepwater Market Forecast and Analysis
9. DRILLSHIPS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Drillships Market Overview
9.1.2 North America Drillships Market Forecasts and Analysis
9.1.3 North America Drillships Market Forecasts and Analysis - By Water Depth
9.1.4 North America Drillships Market Forecasts and Analysis - By Application
9.1.5 North America Drillships Market Forecasts and Analysis - By Countries
9.1.5.1 United States Drillships Market
9.1.5.1.1 United States Drillships Market by Water Depth
9.1.5.1.2 United States Drillships Market by Application
9.1.5.2 Canada Drillships Market
9.1.5.2.1 Canada Drillships Market by Water Depth
9.1.5.2.2 Canada Drillships Market by Application
9.1.5.3 Mexico Drillships Market
9.1.5.3.1 Mexico Drillships Market by Water Depth
9.1.5.3.2 Mexico Drillships Market by Application
9.2. EUROPE
9.2.1 Europe Drillships Market Overview
9.2.2 Europe Drillships Market Forecasts and Analysis
9.2.3 Europe Drillships Market Forecasts and Analysis - By Water Depth
9.2.4 Europe Drillships Market Forecasts and Analysis - By Application
9.2.5 Europe Drillships Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Drillships Market
9.2.5.1.1 Germany Drillships Market by Water Depth
9.2.5.1.2 Germany Drillships Market by Application
9.2.5.2 France Drillships Market
9.2.5.2.1 France Drillships Market by Water Depth
9.2.5.2.2 France Drillships Market by Application
9.2.5.3 Italy Drillships Market
9.2.5.3.1 Italy Drillships Market by Water Depth
9.2.5.3.2 Italy Drillships Market by Application
9.2.5.4 United Kingdom Drillships Market
9.2.5.4.1 United Kingdom Drillships Market by Water Depth
9.2.5.4.2 United Kingdom Drillships Market by Application
9.2.5.5 Russia Drillships Market
9.2.5.5.1 Russia Drillships Market by Water Depth
9.2.5.5.2 Russia Drillships Market by Application
9.2.5.6 Rest of Europe Drillships Market
9.2.5.6.1 Rest of Europe Drillships Market by Water Depth
9.2.5.6.2 Rest of Europe Drillships Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Drillships Market Overview
9.3.2 Asia-Pacific Drillships Market Forecasts and Analysis
9.3.3 Asia-Pacific Drillships Market Forecasts and Analysis - By Water Depth
9.3.4 Asia-Pacific Drillships Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Drillships Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Drillships Market
9.3.5.1.1 Australia Drillships Market by Water Depth
9.3.5.1.2 Australia Drillships Market by Application
9.3.5.2 China Drillships Market
9.3.5.2.1 China Drillships Market by Water Depth
9.3.5.2.2 China Drillships Market by Application
9.3.5.3 India Drillships Market
9.3.5.3.1 India Drillships Market by Water Depth
9.3.5.3.2 India Drillships Market by Application
9.3.5.4 Japan Drillships Market
9.3.5.4.1 Japan Drillships Market by Water Depth
9.3.5.4.2 Japan Drillships Market by Application
9.3.5.5 South Korea Drillships Market
9.3.5.5.1 South Korea Drillships Market by Water Depth
9.3.5.5.2 South Korea Drillships Market by Application
9.3.5.6 Rest of Asia-Pacific Drillships Market
9.3.5.6.1 Rest of Asia-Pacific Drillships Market by Water Depth
9.3.5.6.2 Rest of Asia-Pacific Drillships Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Drillships Market Overview
9.4.2 Middle East and Africa Drillships Market Forecasts and Analysis
9.4.3 Middle East and Africa Drillships Market Forecasts and Analysis - By Water Depth
9.4.4 Middle East and Africa Drillships Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Drillships Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Drillships Market
9.4.5.1.1 South Africa Drillships Market by Water Depth
9.4.5.1.2 South Africa Drillships Market by Application
9.4.5.2 Saudi Arabia Drillships Market
9.4.5.2.1 Saudi Arabia Drillships Market by Water Depth
9.4.5.2.2 Saudi Arabia Drillships Market by Application
9.4.5.3 U.A.E Drillships Market
9.4.5.3.1 U.A.E Drillships Market by Water Depth
9.4.5.3.2 U.A.E Drillships Market by Application
9.4.5.4 Rest of Middle East and Africa Drillships Market
9.4.5.4.1 Rest of Middle East and Africa Drillships Market by Water Depth
9.4.5.4.2 Rest of Middle East and Africa Drillships Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Drillships Market Overview
9.5.2 South and Central America Drillships Market Forecasts and Analysis
9.5.3 South and Central America Drillships Market Forecasts and Analysis - By Water Depth
9.5.4 South and Central America Drillships Market Forecasts and Analysis - By Application
9.5.5 South and Central America Drillships Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Drillships Market
9.5.5.1.1 Brazil Drillships Market by Water Depth
9.5.5.1.2 Brazil Drillships Market by Application
9.5.5.2 Argentina Drillships Market
9.5.5.2.1 Argentina Drillships Market by Water Depth
9.5.5.2.2 Argentina Drillships Market by Application
9.5.5.3 Rest of South and Central America Drillships Market
9.5.5.3.1 Rest of South and Central America Drillships Market by Water Depth
9.5.5.3.2 Rest of South and Central America Drillships Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. DRILLSHIPS MARKET, KEY COMPANY PROFILES
11.1. DSME CO., LTD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. IHI CORPORATION
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. NOBLE CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. TRANSOCEAN LTD.HUISMAN EQUIPMENT B.V.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. KEPPEL OFFSHORE AND MARINE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. SMART MARITIME GROUP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. MITSUBISHI HEAVY INDUSTRIES, LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. MAERSK DRILLING
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. STENA DRILLING LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.DSME Co., Ltd.
2.IHI Corporation
3.Noble Corporation
4.TRANSOCEAN LTD.Huisman Equipment B.V.
5.Keppel Offshore and Marine
6.SMART MARITIME GROUP
7.MITSUBISHI HEAVY INDUSTRIES, LTD.
8.MAERSK DRILLING
9.STENA DRILLING LTD.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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