The Exploration Segment is expected to dominate the Global Mobile Offshore Drilling Units Market in the forecast period
The
global demand for oil and gas is expected to grow in the coming years, due to
increasing population and economic growth. This will lead to increased
exploration and production activities, which will in turn drive the demand for
MODUs.
According
to TechSci Research report, “The Global Mobile Offshore Drilling Units Market - By Region, Competition, Forecast
& Opportunities, 2029”.
The Global Mobile Offshore Drilling Units
Market is expected to grow with a CAGR of 10.85 % during the forecast period.
Governments in many countries are supportive of the oil and gas industry, and
they are providing regulatory support for the development of MODUs. This is
helping to drive the growth of the market. There is a skilled workforce
available in many countries, which is helping to drive the growth of the MODU
market. There have been significant technological advancements in the MODU
industry in recent years. These advancements have led to the development of new
and more efficient MODUs, which is driving the growth of the market. The
exploration and production activities are increasing in offshore areas, due to
the discovery of new oil and gas reserves in these areas. This will lead to
increased demand for MODUs, which are used to drill and produce oil and gas in
offshore areas.
Amid
the global push towards cleaner energy sources, MODU operators are exploring
ways to align with the energy transition. Some are diversifying their
portfolios to include renewable energy projects or exploring carbon capture and
storage (CCS) initiatives. The COVID-19 pandemic highlighted vulnerabilities in
global supply chains. MODU operators are focusing on building resilient supply
chains to ensure uninterrupted operations, even in the face of disruptions.
Industry collaboration is becoming more prominent. Partnerships between
drilling contractors, technology providers, and oil companies are fostering
innovation, shared expertise, and the development of solutions that address
common challenges.
Browse
over xx market data Figures spread through 180 Pages and an in-depth TOC on " The Global Mobile Offshore Drilling Units Market.”
Based
on Type, market is segmented into jack-up rigs, semi-submersible rigs, and
drillships. Jack-up rigs are the most widely used type of MODU, due to their
ability to operate in shallow water. Semi-submersible rigs are used in deeper
water, while drillships are the most expensive type of MODU and are used in the
deepest water.
Based
on Region, the market is segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America is the largest
market for MODUs, due to the presence of major oil and gas producing countries
such as the United States and Canada. Europe is the second largest market,
followed by Asia Pacific. The demand for MODUs is growing in Latin America and
Middle East & Africa, due to the increasing exploration and production
activities in these regions.
Key
market players in the Global Mobile Offshore Drilling Units Market include:
- Transocean
Ltd.
- Valaris
plc (formerly EnscoRowan)
- Seadrill
Limited
- Noble
Corporation
- Diamond
Offshore Drilling Inc.
- Pacific
Drilling S.A.
- Borr
Drilling Limited
- Maersk
Drilling (part of A.P. Moller-Maersk)
- Shelf
Drilling
- Northern
Drilling Ltd
Download Free Sample Report
Customers can also request for 10% free customization on
this report.
“The
relentless global demand for energy is a primary driver of the MODU market. As
populations grow, economies expand, and industries develop, the need for oil
and gas remains insatiable. MODUs play a crucial role in accessing offshore
reserves, contributing to energy security and economic stability. Continuous
technological advancements are revolutionizing the MODU industry. Innovations
in drilling equipment, safety systems, automation, and data analytics enhance
efficiency, reliability, and operational capabilities. These innovations allow
for more efficient exploration and extraction of hydrocarbons from challenging
offshore environments. Traditional onshore oil and gas reserves are gradually
depleting. As a result, energy companies are increasingly turning to offshore
reserves to meet global energy demands. MODUs provide the means to access these
previously untapped resources, extending the lifespan of the oil and gas
industry.
The
quest to discover new reserves drives exploration activities. Oil and gas
companies invest heavily in identifying unexplored offshore areas with
potential hydrocarbon deposits. MODUs equipped with advanced technology and
capabilities enable efficient exploration and discovery of these valuable
resources. The economic implications of the oil and gas industry are
substantial. Energy exports, investments, job creation, and revenue generation
contribute significantly to national and global economies. The MODU market's
growth stimulates economic activity, spurring investments and driving economic
growth in regions with active offshore drilling.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Mobile
Offshore Drilling Units Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Type (Jack-up rigs, Semi-submersible rigs, and
Drill ships), By Application (Exploration and Production) By
Region, Competition 2018-2028”, has evaluated the future growth potential of Global
Mobile Offshore Drilling Units Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Global Mobile
Offshore Drilling Units Market.
Contact
Techsci
Research LLC
420
Lexington Avenue, Suite 300,
New
York, United States- 10170
Tel:
+13322586602
Email: [email protected]
Website: www.techsciresearch.com