Offshore Drilling Market worth $134.02 Billion by 2019, According to a New Study on ASDReports

Tuesday 16 September 2014, Amsterdam

The report, now available on ASDReports, “Offshore Drilling Market by Services (Contract Drilling, Directional Drilling, Logging While Drilling), Applications (Shallow Water, Deepwater, Ultra-deepwater) and Geography - Global Trends & Forecasts to 2019", defines and segments the global offshore drilling market with analysis and forecast of the global market share. The offshore drilling market is estimated to grow from $80.8 billion in 2014 to $134.02 Billion by 2019, at a CAGR of 10.6%.

The increase in demand for energy drives the need for exploration activities and investments. This increases the need for offshore exploration and production activities, which further leads to the demand of offshore drilling infrastructure and associated services.

Asia-Pacific is the largest market in the offshore drilling market, in terms of value. Also, the golden triangle which includes the Brazil, US Gulf of Mexico, and West Africa are the key market where the offshore operators and service providers are focusing.

In the current offshore drilling services global market, the shallow water activities dominates offshore market and is projected to grow with significant growth in the near future. On the other hand, the deepwater and ultra-deepwater activities are also projected to increase, escalating the requirement for semisubmersibles and drillships in offshore application.

The report analyzes and projects the offshore drilling market by applications, by service, and geography. The offshore drilling market includes contract drilling services, as well as directional and logging while drilling services, and its various submarkets with respect to main regions such as Asia-Pacific, Europe, Africa, Middle East, North America, and South America. Offshore drilling activities are also analyzed on the basis of the shallow, deep and ultra-deepwater activities.

This report also includes market share, and value-chain analysis, Porters Five Force Analysis, and market metrics such as drivers, restraints, burning issues, winning imperative, and opportunities. In addition, it presents a competitive landscape and company profiles of 15 players in the market, including major companies providing the contract drilling services and various oil & gas field services.