Market Size of Offshore Drilling Rigs Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 73.20 Billion |
| Market Size (2029) | USD 101.63 Billion |
| CAGR (2024 - 2029) | 6.78 % |
| Fastest Growing Market | Middle-East and Africa |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Offshore Drilling Rigs Market Analysis
The Offshore Drilling Rigs Market size is estimated at USD 73.20 billion in 2024, and is expected to reach USD 101.63 billion by 2029, growing at a CAGR of 6.78% during the forecast period (2024-2029).
- Over the long term, factors such as increased global energy demand and exploration activities for untapped regions are expected to drive the market during the forecasted period.
- On the other hand, the rising environmental concerns over offshore drilling and its impact on the aquatic environment are expected to hinder the market's growth.
- Nevertheless, increasing deepwater and ultra-deepwater activities for exploration and production are expected to create several future market opportunities.
- North America is expected to be a major market due to the latest technology and infrastructure for offshore activities.
