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Contract Drilling Market Trends and Forecast 2015 - 2023

The Global increase in the drilling activities in order to cater the energy requirements of industrial and nonindustrial sectors has direct implications on the global contract drilling market. Rapid growth in population of different countries has fu
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Contract Drilling Market - Global Industry
Analysis, Market Size, Share, Growth,
Trends and Forecast 2015 - 2023
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The Global increase in the drilling activities in order to cater the energy requirements of industrial and
nonindustrial sectors has direct implications on the global contract drilling market. Rapid growth in
population of different countries has further created an additional pressure on governments to supply the
life line energy. Requirement of high capital expenditure and technical capabilities for the purpose of
maintaining and purchasing the drilling equipments has augmented the market for contract drilling
services. The service provider companies carry out all the drilling operations on the behalf of principal
company as per the terms of contract. Movement towards the offshore drilling activities that require
special expertise to carry out the drilling operations has further given a boost to such companies that are
specialized in providing drilling services on a contract basis.
In-depth research report on Contract Drilling Market with Full TOC at :
Segmentation of the contract drilling market can be done on the basis of service type, contract length,
terrain types and geographies. Sometimes the principal companies require only a particular type of service
that forms only a part of the drilling process. Depending upon the tenure of the project contract drilling
market can be classified into short term and long term contract drilling market. Contract length for such
product depends upon the size of the project or the number of wells that are to be drilled. Contract drilling
services can be used to serve both the onshore and offshore drilling operations. Onshore contract drilling
companies are taking advantage of the investments by principal companies to exploit unconventional
shale gas, shale oil and coal bed methane reservoirs. Advancement in drilling technologies has led to a
shift of contract drilling companies towards the offshore areas in search of oil and gas reservoirs.
Companies are willing to invest in exploring the shallow as well as the untapped deep and ultra deep water
Geographical segmentation of the contract drilling market can be done by identifying the major oil and gas
producing countries. Major countries include the United States, Canada and Mexico in North America;
Russia and Offshore areas of the United Kingdom and Norway in the North Sea. Middle East and African
segment include major oil producers such as Saudi Arabia, Iran, Iraq, Kuwait, Angola Libya and Nigeria.
Surge in the development of oil and gas industry in the African continent is expected to be beneficial for
the contract drilling companies willing to invest in the African market. The Latin America segment includes
countries such as Brazil, Venezuela, Argentina and Colombia. Increased drilling operations in the offshore
areas of Brazil coupled with the surge in drilling activities to tap the shale gas reserves of Argentina has
the potential to attract the contract drilling companies.
Rising energy demands, increase in the onshore and offshore drilling activities, advancement in drilling
technologies and the movement towards development of unconventional sources of energy are the major
drivers for the contract drilling market. High capital requirement for purchase and maintenance of drilling
equipments is the major restraint to the contract drilling market. Untapped hydrocarbon reserves of North
African nations can act as the opportunities for the contract drilling market
Some of the key players of the contract drilling market include companies such as Schlumberger Limited,
Basic Energy Services, Sidewinder Drilling, Inc., Baker Hughes Incorporated and Halliburton.
This research report analyzes this market on the basis of its market segments, major
geographies, and current market trends. Geographies analyzed under this research report
North America
Asia Pacific
Middle East and Africa
Latin America
This report provides comprehensive analysis of
Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of recent developments in
technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market players and new entrants
along with detailed value chain analysis.
Reasons for Buying this Report
This report provides pin-point analysis for changing competitive dynamics
It provides a forward looking perspective on different factors driving or restraining market growth
It provides a six-year forecast assessed on the basis of how the market is predicted to grow
It helps in understanding the key product segments and their future
It provides pin point analysis of changing competition dynamics and keeps you ahead of
It helps in making informed business decisions by having complete insights of market and by
making in-depth analysis of market segments
It provides distinctive graphics and exemplified SWOT analysis of major market segments
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