Deepwater and Ultra-Deepwater Drilling Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Deepwater and Ultra-Deepwater Drilling Market: Overview
Perpetual growth across the global deepwater and ultra-deepwater drilling market can be attributed to a range of factors. The Gulf of Mexico has become an area of interest for miners and oil excavators. The Gulf encapsulates a large expanse of pipelines, and in 2018, there were over 3300 deepwater wells in the Gulf of Mexico. The viability of oil exploration activities around this area has created ripples across several oil-related markets. The deepest wells in the Gulf of Mexico go up to 150 meters. The use of drilling systems for deepwater operations has gathered momentum in recent times.
Governments in oil-rich nations have focused on accelerating deepwater drilling operations in order to foster economic stability. This factor has generated huge-scale revenues within the global deepwater and ultra-deepwater drilling market. Several modules for improving the efficiency of oil drilling operations have been conceptualised over the past decade. Exploration activities are under the radar of focus across marine regions.
The aforementioned developments across the oil exploration sector have prompted TMR Research (TMR) to study the dynamics of the global deepwater and ultra-deepwater drilling market. A report by TMR defines the role of the oil industry in propelling demand across the global deepwater and ultra-deepwater drilling market. The report also summarizes the subsidiary factors that could usher in fresh revenue potential in the global market.
The global deepwater and ultra-deepwater drilling market can be segmented on the basis of the following parameters: application and region.
Global Deepwater and Ultra-Deepwater Drilling Market: Notable Developments
The strategies of leading market players are capable of causing disruptions in the overall contours of the global deepwater and ultra-deepwater drilling market. Some of the recent developments in the competitive landscape are explained below:
Other notable players in the global deepwater and ultra-deepwater drilling market are Ensco Rowan Plc, Schlumberger Ltd., and Halliburton Co.
Global Deepwater and Ultra-Deepwater Drilling Market: Growth Drivers
The depletion of oil reserves has compelled researchers to delve into the gravity of the problem. In most cases, drilling operations at the surface of the seabed fail to fetch oil or gas. Hence, ultra-deepwater drilling operations have gained popularity across the oil industry.
New drillships have come to the fore in recent times. The Maersk drillship created a world-record for the deepest digging operation. These oil exploration hacks have also played a vital role propelling the market demand.
Global Deepwater and Ultra-Deepwater Drilling Market: Regional Outlook
On the basis of geography, the global deepwater and ultra-deepwater drilling market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The expansive operations across the Gulf of Mexico have given a thrust to the market in Latin America.
The global deepwater and ultra-deepwater drilling market is segmented on the basis of:
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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