Drillships Market: Overview
The global drillships market is expected to expand at an impressive pace during the forecast period, thanks to the growing demands for oil across the globe.
A drillship refers to a special merchant ship designed for offshore drilling in order to explore new oil and gas wells. Along with this, they are also used for several scientific drilling purposes.
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Drillships Market: Notable Developments
Some of the recent development in the drillships market are-
One of the key aspects in the oilfield exploration is the have accurate data, therefore players are focusing towards the integration of advanced technologies such as big data in the drillships inorder to make oil field exploration task relatively simpler and easier.
Key industry players in the drillahips market are focusing on organic growth strategies such as acquisitions and mergers, collaboration and business expansion in order to strengthen their market position.
Some of the most prominent competitors operating in the competitive landscape of global drillships market include –
- Ensco Rowan Plc
- Noble Corp. Plc
- Diamond Offshore Drilling Inc
- Samsung Heavy Industries Co. Ltd.
- Transocean Ltd.
Drillships Market: Key Trends
The global drillship market is projected to expand at remarkable pace in the coming few years. The is mainly because of the heavy dependency of huge data sets for instance formation pressure, temperature, porosity and permeability of reservoir rocks in exploration of oil fields. This data help oil and gas E&P operators in make accurate decision thus contributing to improve the overall performance of operations. That’s one region oilfield drilling and mining industry is tending towards advanced equipment that has ability to process huge amounts of data and offers accurate results. The ability of drillship to integrate with advanced technologies is a prominent factor expected to drive the global drillships market.
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However, factors like growing emphasis of government towards renewable sources of energy and stringent regulatory law for import and export of drillships are the two factors expected to hinder growth in the drillships market during the coming few years.
Nevertheless, factors like rapid expansion of urbanization and industrialization is poised to offer several lucrative opportunities for the growth of the global drillships market in the coming few years. Along with this, rise in adoptiom of the advanced technology and ease provided drillships in oil fields exploration are some other factors expected to fuel the demand for drillships during the forecast period.
Drillships Market: Regional Outlook
The global drillship market can be segmented into Asia Pacific, North America, the Middle East and Africa, Europe and Latin America. Among all these regions, the Middle East and Africa is expected to hold maximum share in the global drillships market this mainly due to the vast availability of oil shore in the region. The region is highest producer of oil and oil based products in across the globe.
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