Dallas, Texas (PRWEB) May 02, 2014
Jackup rigs are mobile, self-elevating drilling platforms equipped with legs that can be lowered to the ocean floor until a foundation is established to support the drilling platform. Once a foundation is established, the drilling platform is then jacked further up the legs so that the platform is above the highest expected waves. Generally, Jackup rigs are subject to a maximum water depth of approximately 350 to 400 feet according to leg length, while some Jackup rigs have hulls that allow them to drill in water depths as shallow as ten feet. The principle difference between Jackup rigs lies in the areas of leg length, seabed/leg interaction (mat versus independent leg), and drilling mode capabilities (cantilever versus slot).
Purchase a copy of this report @ http://www.marketreportsonline.com/contacts/purchase.php?name=327631.
The global market for Jackup rigs witnessed a decline in 2009 for the first time since 2004, mainly as a result of the global economic crisis. The market registered a notable fall in the demand of Jackup rigs, in addition to a historic fall in the rigs utilization rate, reaching below 80%. The market in 2013 reported the highest orders ever in the history of Jackup building due to which market reported high day rates. Furthermore, the notably increasing offshore exploration and productivity operations across the globe are certain to fuel the growth of the worldwide Jackup rigs market in the years to come.
Factors like growing oil demand due to rising population rates, increasing E&P expenditures, and improving worldwide economic conditions are boosting the growth in Jack-up rig market. Despite the existence of various growth drivers, there are certain challenges faced by the industry including environmental concerns, offshore accidents, and depletion of oil reserves which can potentially hinder the growth of the industry.
The report “Global Jack-up Rig Market” analyzes the development of the respective market, with a focus on regions including the South East Asia, Middle East and Mexico. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The industry is predominated by a handful of players including Keppel Corporation, Sembcorp Marine, and COSCO Corporation contending and vying for capturing market share. The profiles of these leading players are also included in the report along with their key financials and strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Major points from Table of Contents (http://www.marketreportsonline.com/327631-toc.html) are listed below:
1. Market Overview
2. Jackup Rigs - Market Size
3. Market Dynamics
5. Company Profiles
5.1 Keppel Corporation
5.2 Sembcorp Industries ltd.
5.3 COSCO Corporation
6. Market Outlook
Related Report on Manufacturing & Construction Market:
Global Excavator Market Report: 2014 Edition @ http://www.marketreportsonline.com/325978.html.
MarketReportsOnline.com is an online database of regional industry research reports, company profiles and SWOT analysis studies for multiple industries, organizations and market segments. Our sales and research experts offer 24 X 7 support to our customers through phone and email communication. Not limited to the energy and power industry, MarketReportsOnline.com offers research studies on agriculture, travel & hospitality, food and beverages, consumer goods, environment, pharmaceuticals, retail, agriculture, healthcare, chemicals, advanced materials, medical devices and much more.