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Offshore Drilling Rigs Market

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Offshore Drilling Rigs Market report is segmented on the basis of type and application depth - Global Industry Insights, Trends, Outlook and Opportunity Analysis, 2017-2025
Offshore Drilling Rigs Market Segmented by Global
Industry Insights, Trends, Outlook and Opportunity
Analysis Till 2026
Offshore drilling is the process of extracting petroleum from rock formation,
which lies beneath the seabed. Several types of offshore rigs are used in
different depth and offshore environmental conditions, such as jack up rigs (up
to 500 feet), semisubmersible rigs (up to 10,000 feet), and drillships (up to
12,000 feet). Advancement in technology to compete harsh environment and
increasing demand for energy has driven the offshore drilling rigs market
globally.
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Imbalance in the demand and supply is observed over past three years.
Moreover, aging and maturing onshore oilfields have opportunities for
development of offshore drilling rigs over the past few decades and is
anticipated to grow at a fast pace over the forecast period. Increasing
environmental concerns and regulations are restraining the growth of offshore
drilling rigs market.
Jackup rigs segment hold the largest share in the global offshore drilling rigs
market, owing to its easy installation and low cost as compared to other rig
types. Jackup rigs segment has opportunities for advancement and development.
Deep and Ultra-Deep waters are projected to be grow at a fast pace over the
forecast period, owing to the major investment in this segment
especialhttp://coherentmarketinsights.comly in regions such as Africa,
North-America, and Europe. According to Seatrade Maritime News, offshore
rig market will pick up from 2017 and will rebound to a new height by 2021.
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pallavi.reddy
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