The global offshore drilling market is thereby expected to grow to $134.02 billion by 2019, at a CAGR of 10.6% from 2014 to 2019.
(PRWEB) September 05, 2014
The report classifies the offshore drilling market in accordance to services, geography, and application areas. The offshore drilling services included in this report are offshore contract drilling, directional drilling, and logging while drilling. The contract drilling services hold the highest market share among the services. The application areas covered in this report are shallow, deep water, and ultra-deep water. In terms of geography, the report is segmented into Asia-Pacific, Europe, the Middle East, Africa, North America, and South America.
The escalated demand of these services is backed off by the increasing demand of energy and soaring capital expenditures by the various oil and gas companies on the offshore projects. The trend is expected to continue with the current surge in ultra-deep reserves exploratory activities, particularly in new regions such as Asia-Pacific. The global offshore drilling market is thereby expected to grow to $134.02 billion by 2019, at a CAGR of 10.6% from 2014 to 2019. Complete report is available at http://www.reportsnreports.com/reports/257439-offshore-drilling-market-by-services-contract-drilling-directional-drilling-logging-while-drilling-applications-shallow-water-deepwater-ultra-deepwater-and-geography-global-trends-forecasts-to-2018.html .
Geographically, the Asia Pacific region is expected to be the largest market by 2019 that will grow rapidly at a CAGR of 12.6% during the forecast period. This region is currently estimated to value $18.89 billion in 2014, which will increase to $34.89 billion by 2019. North American market holds the second largest market share, with the prominent activities taking place in the GOM region which generates the maximum revenue for the region.
To offer a deeper understanding of the competitive landscape, this report includes profiles of some major offshore oil & gas service providers such Atwood Oceanics Inc, Baker Hughes Inc, China Oilfield Services Limited, Diamond Offshore Drilling Inc, Ensco International Inc, Halliburton Company, Kca Deutag, Maersk Drilling, Nabors Industries Ltd, Noble Corporation, Schlumberger Limited, Seadrill Ltd, Transocean Ltd and Weatherford International Ltd Order a copy of this report at http://www.reportsnreports.com/purchase.aspx?name=257439 .
The onshore mature oil & gas reserves shifts the focus of operator companies towards deep water offshore areas. The increasing demand of energy has pushed the exploration and production activities in the deep and ultra-deep region there by growing the demand for the offshore drilling services.
This report highlights various key industrial issues and market impulse factors. It also describes a number of important dynamics such as drivers, restraints, and opportunities.The study also covers recent development strategies adopted by the industry players in offshore drilling market. Priced at US $4650 for a single user PDF, a discount on this research report can be requested at http://www.reportsnreports.com/contacts/discount.aspx?name=257439 .
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