Global Jackup Rigs Market –Overview
Jackup rigs are self-elevating mobile drilling platforms equipped with legs which can be lowered to the ocean floor to establish foundation for support. The buoyant hull enables transportation of the unit and all attached machinery to a desired location. Jackup rigs integrate a drilling rig, jacking system, loading and unloading facilities, crew stations, storage areas, helicopter landing deck and other drilling equipment and are one of the most widely used offshore drilling rigs. Jackup rigs are predominantly deployed in all major offshore production basins and can operate in water depths of up to 490 feet. With the recent technological advancements in equipment operations Jackup rigs operations have become cost effective. .
According to a recent study report published by the Market Research Future, the global market for Jackup rigs is expected to witness a rapid growth, in terms of revenue generation. This growth will be attributed by the increasing global demand for energy and the rising number of investments for off shore drilling activities. The Jackup rigs Market is predicted to grow in the future with a significant rate of CAGR; witnessing a augmented growth surpassing its previous growth records by the end of the forecasted period (2016 – 2022).
The key players of Global Jackup Rigs Markets are Rowan Companies Inc.(U.K.), Noble Corporation plc (UK), KCA DEUTAG Ltd.(Scotland), Maersk Drilling (Denmark), Diamond Offshore Drilling, Inc. (U.S), COSL (China), Transocean Ltd. (Switzerland), Seadrill Limited(Bermuda), ENSCO Plc (UK), Halliburton (U.S.) and others.
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Global Jackup Rigs Market –Synopsis & Scenario
The recent discoveries of new oil & gas reserves in remote areas, combined with growing technological advancements in terms of equipment have made offshore drilling operations more feasible and cost-effective. The global jackup rigs market has been witnessing a decent growth caused by the increasing global demand for energy. In addition to that, there has been significant investment by operators into deep water Oil & gas exploration activities. The factors such as accelerating economic growth, growing population worldwide, increasing oil demand and investment growth in offshore drilling exploration activities will fuel the market growth of Jackup rigs market.
However, the growth of this market can be restrained by the oil price volatility and depletion of oil reserves.
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Jackup Rigs Market – Regional Analysis
Currently, North America, Europe and Africa are the largest markets for offshore drilling rigs and there have been increasing investments in engineering and procurement activity in the oil & gas exploration activities in these regions. Growing demand for deep-water activities in the Asia-Pacific region and further drilling into mid ocean is driving the demand for Jackup rigs in this region. Regions such as Africa and Latin America have emerged as attractive prospects for offshore E&P activities, due to their vast unexplored hydrocarbons reserves.
Table of Content
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Jackup Rigs Market, By Type
Key questions answered in this report
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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