Offshore Drilling Trends and Forecast
The future of the global offshore drilling market looks promising with opportunities in the shallow water, deep water, and ultra-deep water applications. The global offshore drilling market is expected to reach an estimated $42.6 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are increasing global energy demand, technological advancements in offshore drilling, and rising exploration of untapped offshore oil and gas reserves.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Offshore Drilling by Segment
The study includes a forecast for the global offshore drilling by service type, platform, application, and region.

Offshore Drilling Market by Service Type [Shipment Analysis by Value from 2018 to 2030]:

  • Contract Drilling
  • Directional Drilling
  • Logging While Drilling
  • Measurement While DrillingOffshore Drilling Market by Platform [Shipment Analysis by Value from 2018 to 2030]:
  • Jack-Up Rigs
  • Floating
  • Semisubmersibles
  • Drillships
  • OthersOffshore Drilling Market by Application [Shipment Analysis by Value from 2018 to 2030]:
  • Shallow Water
  • Deep Water
  • Ultra-Deep Water


Offshore Drilling Market by Region [Shipment Analysis by Value from 2018 to 2030]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World



List of Offshore Drilling Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies offshore drilling companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the offshore drilling companies profiled in this report include-

  • Halliburton Energy Services
  • Schlumberger
  • Weatherford International
  • Baker Hughes
  • A GE
  • China Oilfield Services
  • VALLOUREC
  • Nabors Industries
  • National Oilwell Varco
  • Tenaris




Offshore Drilling Market Insights
Lucintel forecasts that contract drilling is expected to witness the highest growth over the forecast period.
Within this market, shallow water is expected to witness the highest growth over the forecast period.
APAC is expected to witness highest growth over the forecast period.

Features of the Global Offshore Drilling Market

Market Size Estimates: Offshore drilling market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Offshore drilling market size by service type, platform, application, and region in terms of value ($B).
Regional Analysis: Offshore drilling market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different service types, platforms, applications, and regions for the offshore drilling market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the offshore drilling market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ - Frequently Asked Questions

Q1. What is the offshore drilling market size?
Answer: The global offshore drilling market is expected to reach an estimated $42.6 billion by 2030.

Q2. What is the growth forecast for offshore drilling market?
Answer: The global offshore drilling market is expected to grow with a CAGR of 4.8% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the offshore drilling market?
Answer: The major drivers for this market are increasing global energy demand, technological advancements in offshore drilling, and rising exploration of untapped offshore oil and gas reserves.

Q4. What are the major segments for offshore drilling market?
Answer: The future of the offshore drilling market looks promising with opportunities in the shallow water, deep water, and ultra-deep water applications.

Q5. Who are the key offshore drilling market companies?
Answer: Some of the key offshore drilling companies are as follows:

  • Halliburton Energy Services
  • Schlumberger
  • Weatherford International
  • Baker Hughes
  • A GE
  • China Oilfield Services
  • VALLOUREC
  • Nabors Industries
  • National Oilwell Varco
  • Tenaris



Q6. Which offshore drilling market segment will be the largest in future?
Answer: Lucintel forecasts that contract drilling is expected to witness the highest growth over the forecast period.

Q7. In offshore drilling market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.

Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the offshore drilling market by service type (contract drilling, directional drilling, logging while drilling, and measurement while drilling), platform (jack-up rigs, floating, semisubmersibles, drillships, and others), application (shallow water, deep water, and ultra-deep water), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

For any questions related to Offshore Drilling Market, Offshore Drilling Market Size, Offshore Drilling Market Growth, Offshore Drilling Market Analysis, Offshore Drilling Market Report, Offshore Drilling Market Share, Offshore Drilling Market Trends, Offshore Drilling Market Forecast, Offshore Drilling Companies, contact us. We will be glad to get back to you soon.