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The Global Drilling Rig Market is forecast to grow by $15.36 billion during 2022-2027, accelerating at a CAGR of 6.16% during the forecast period

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Global Drilling Rig Market 2023-2027. The analyst has been monitoring the drilling rig market and is forecast to grow by $15.36 billion during 2022-2027, accelerating at a CAGR of 6.16% during the forecast period.

New York, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Drilling Rig Market 2023-2027" - https://www.reportlinker.com/p05892918/?utm_source=GNW
Our report on the drilling rig market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in oil and gas demand, rising investments in upstream oil and gas sector, and increasing focus on unconventional oil and gas E&P activities.

The drilling rig market is segmented as below:
By Application
• Onshore
• Offshore

By Type
• Crude oil
• Natural gas

By Geographical Landscape
• North America
• Middle East and Africa
• Europe
• APAC
• South America

This study identifies the growing demand for new-generation automated drilling rigs as one of the prime reasons driving the drilling rig market growth during the next few years. Also, rise in deep-water and ultra-deepwater e and p activities and technological advances in modus will lead to sizable demand in the market.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the drilling rig market covers the following areas:
• Drilling rig market sizing
• Drilling rig market forecast
• Drilling rig market industry analysis

This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading drilling rig market vendors that include AP Moller Maersk AS, Archer Ltd., China Oilfield Services Ltd., Eni Spa, Helmerich and Payne Inc., KCA Deutag Alpha Ltd., Loews Corp., Nabors Industries Ltd., Noble Corp., NOV Inc., Parker Drilling Co., Patterson UTI Energy Inc., PR Marriott Drilling Ltd., Precision Drilling Corp., Schlumberger Ltd., Seadrill Ltd., Stena AB, Transocean Ltd., Valaris Plc, and Weatherford International Plc. Also, the drilling rig market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The analyst presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Read the full report: https://www.reportlinker.com/p05892918/?utm_source=GNW

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