Rotary Drilling Rig Market - Size, Growth, Trends and Forecast 2028

Report Description

Global Rotary Drilling Rig Market is expected to thrive during the forecast period 2024-2028 due to increased viability of deepwater and ultra-deepwater projects and global demand for oil.

A rotary drilling rig is a kind of construction machinery suitable for drilling holes in building construction and is widely used for railways, highways, bridges and municipal buildings. The rotary drilling rig has good construction quality, good environmental protection properties, gives out less dust and mud pollution, is highly flexible, and comes with high construction efficiency and hole formation. Rotary drilling rigs are basically adapted to the geological conditions of the ground and have a wide range of applications that can be used for high-rise foundation and bridge construction projects. Rotary drilling is an efficient technology used in the offshore oil and gas sector. This is a drilling technology that uses continuous circular rotation of the bit to drill the rock. In contrast, the drilling fluid circulates down the wellbore through the bit to the surface, allowing the wellbore to be drilled safely and efficiently. A rotary drill is a quick method and is significantly faster than many other conventional drilling techniques. Importantly, it also delivers highly consistent results and does not compromise on quality. In addition, rotary drilling rigs are widely used in various boring pile projects.

Advanages of Rotary Drilling Rig propelling the Global Rotary Drilling Rig Market

The oil and gas industry plays an important role in the overall growth of the country's economy, improving both economic and social life. Rising demand from the oil and gas industry and increasing demand for water exploration projects around the world have enabled major companies to make huge investments in the drilling industry, increasing the demand for water well drilling rigs. Moreover, adopting various business strategies to win more drilling contracts, expand ongoing business, and improve the market will help increase the demand for well drilling rigs during the forecast period. It is an important element of competitive analysis.

A rotary drilling rig is a fully hydraulic self-propelled crawler drilling rig that uses a fully hydraulic system, some of which are also equipped with a computer operating system. Choosing good components can extend the overall life of your equipment, and component damage will not affect its use. The equipment integrating machinery, power and fluids, has a compact structure, flexible and convenient operation, a high degree of mechanization and automation, and can be moved independently on the construction site, can carry the mast, and is convenient to move and align quick hole position. Telescopic Drill is used which saves man-hours and time for adding drill pipe, reducing auxiliary man-hours and improving time efficiency.

The drill rig can be set according to the stratum conditions, and the excavation speed can be improved by using a long bit in the cohesive soil layer. For high sand and gravel layers, a short drill pipe with mud wall protection can be used to control the drilling speed. For formations containing boulders, boulders and hard rocks, both long and short auger augers can be used to handle.

Latest Trends in Global Rotary Drilling Rig fuelling the Market Growth

· Subsea Robotics and Offshore Projects Group was given a contract by Oceaneering for comprehensive derrick services covering the Khaleesi/Mormont and Samurai fields in the US Gulf of Mexico in 2021. The scope of work included the provision of remotely operated vehicles manned by ROV tools and technicians, remote positioning, and metrological survey resources. Project work began in 2021.

· In 2021, Equinor was scheduled to drill approximately 10 to 13 exploration wells in the US Gulf of Mexico, off the coast of Canada, in 2022. Such investments in new exploration wells are therefore likely to increase the demand in the rotary drilling rig market.

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Market Segmentation

Global Rotary Drilling Rig Market is segmented on the basis of Location of Deployement and Application. Based on Location of Deployement, the market is bifurcated into Onshore and Offshore. Based on Application, the market is bifurcated into Oil & Gas, Mining and Others.

Market player

Major market players in the Global Rotary Drilling Rig market are Zoomlion Heavy Industry Science &Technology Co. Ltd, Caterpillar. Inc, Bauer AG, Atlas Copco, SANY Group Co. Ltd, Schramm Inc., Sandvik Drilling, Dando Drilling International Ltd, Streicher Drilling Technology GmbH, Beijing Sinovo International & Sinovo Heavy Industry Co. Ltd.

Attribute	Details
Base Year	2022
Historic Data	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Million and CAGR for 2018-2022 and 2023-2028
Report coverage	Revenue forecast, company share, growth factors, and trends
Segments covered	Location of Deployment Application
Regional scope	North America, Asia-Pacific, Europe, South America, Middle East & Africa
Country scope	United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE
Key companies profiled	Zoomlion Heavy Industry Science &Technology Co. Ltd, Caterpillar. Inc, Bauer AG, Atlas Copco, SANY Group Co. Ltd, Schramm Inc., Sandvik Drilling, Dando Drilling International Ltd, Streicher Drilling Technology GmbH, Beijing Sinovo International & Sinovo Heavy Industry Co. Ltd.
Customization scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, the Global Rotary Drilling Rig market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

· Rotary Drilling Rig Market, By Location of Deployment

o Onshore

o Offshore

· Rotary Drilling Rig Market, By Application

o Oil & Gas

o Mining

o Others

· Rotary Drilling Rig Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Asia-Pacific

§ China

§ India

§ Japan

§ South Korea

§ Australia

o Europe

§ Germany

§ United Kingdom

§ France

§ Spain

§ Italy

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East

§ Saudi Arabia

§ South Africa

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Rotary Drilling Rig market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

The Global Rotary Drilling Rig Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Global Rotary Drilling Rig Market

4. Executive Summary

5. Voice of Customers

6. Global Rotary Drilling Rig Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Location of Deployment (Onshore, Offshore)

6.2.2. By Application (Oil & Gas, Mining, Others)

6.2.3. By Region

6.2.4. By Company

6.3. Market Map

7. North America Rotary Drilling Rig Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Location of Deployement

7.2.2. By Application

7.2.3. By Country

7.3. North America: Country Analysis

7.3.1. United States Rotary Drilling Rig Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Location of Deployement

7.3.1.2.2. By Application

7.3.2. Canada Rotary Drilling Rig Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Location of Deployement

7.3.2.2.2. By Application

7.3.3. Mexico Rotary Drilling Rig Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Location of Deployement

7.3.3.2.2. By Application

8. Asia-Pacific Rotary Drilling Rig Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Location of Deployement

8.2.2. By Application

8.2.3. By Country

8.3. Asia-Pacific: Country Analysis

8.3.1. China Rotary Drilling Rig Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Location of Deployement

8.3.1.2.2. By Application

8.3.2. India Rotary Drilling Rig Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Size & Forecast

8.3.2.2.1. By Location of Deployement

8.3.2.2.2. By Application

8.3.3. Japan Rotary Drilling Rig Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Size & Forecast

8.3.3.2.1. By Location of Deployement

8.3.3.2.2. By Application

8.3.4. South Korea Rotary Drilling Rig Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Size & Forecast

8.3.4.2.1. By Location of Deployement

8.3.4.2.2. By Application

8.3.5. Australia Rotary Drilling Rig Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Location of Deployement

8.3.5.2.2. By Application

9. Europe Rotary Drilling Rig Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Location of Deployement

9.2.2. By Application

9.2.3. By Country

9.3. Europe: Country Analysis

9.3.1. Germany Rotary Drilling Rig Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Location of Deployement

9.3.1.2.2. By Application

9.3.2. United Kingdom Rotary Drilling Rig Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Systems

9.3.2.2.2. By Application

9.3.3. France Rotary Drilling Rig Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Systems

9.3.3.2.2. By Application

9.3.4. Italy Rotary Drilling Rig Market Outlook

9.3.4.1. Market Size & Forecast

9.3.4.1.1. By Value

9.3.4.2. Market Share & Forecast

9.3.4.2.1. By Systems

9.3.4.2.2. By Application

9.3.5. Spain Rotary Drilling Rig Market Outlook

9.3.5.1. Market Size & Forecast

9.3.5.1.1. By Value

9.3.5.2. Market Share & Forecast

9.3.5.2.1. By Location of Deployement

9.3.5.2.2. By Application

10. South America Rotary Drilling Rig Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Systems

10.2.2. By Application

10.2.3. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Rotary Drilling Rig Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Systems

10.3.1.2.2. By Application

10.3.2. Argentina Rotary Drilling Rig Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Systems

10.3.2.2.2. By Application

10.3.3. Colombia Rotary Drilling Rig Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Systems

10.3.3.2.2. By Application

11. Middle East & Africa Rotary Drilling Rig Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value

11.2. Market Share & Forecast

11.2.1. By Systems

11.2.2. By Application

11.2.3. By Country

11.3. Middle East & Africa: Country Analysis

11.3.1. Saudi Arabia Rotary Drilling Rig Market Outlook

11.3.1.1. Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2. Market Share & Forecast

11.3.1.2.1. By Systems

11.3.1.2.2. By Application

11.3.2. South Africa Rotary Drilling Rig Market Outlook

11.3.2.1. Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2. Market Share & Forecast

11.3.2.2.1. By Systems

11.3.2.2.2. By Application

11.3.3. UAE Rotary Drilling Rig Market Outlook

11.3.3.1. Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2. Market Share & Forecast

11.3.3.2.1. By Systems

11.3.3.2.2. By Application

12. Market Dynamics

12.1. Drivers

12.1.1. High drilling efficiency

12.1.2. One machine can be used for multiple purposes

12.1.3. The equipment has good performance

13. Market Trends & Developments

13.1. Subsea Robotics and Offshore Projects Group contract

13.2. Equinor projects in Gulf of Mexcio

14. Company Profiles

14.1. Zoomlion Heavy Industry Science &Technology Co. Ltd

14.1.1. Business Overview

14.1.2. Key Revenue and Financials

14.1.3. Recent Developments

14.1.4. Key Personnel

14.1.5. Key Product/Services

14.1.6. SWOT Analysis

14.2. Caterpillar. Inc

14.2.1. Business Overview

14.2.2. Key Revenue and Financials

14.2.3. Recent Developments

14.2.4. Key Personnel

14.2.5. Key Product/Services

14.2.6. SWOT Analysis

14.3. Bauer AG

14.3.1. Business Overview

14.3.2. Key Revenue and Financials

14.3.3. Recent Developments

14.3.4. Key Personnel

14.3.5. Key Product/Services

14.3.6. SWOT Analysis

14.4. Atlas Copco

14.4.1. Business Overview

14.4.2. Key Revenue and Financials

14.4.3. Recent Developments

14.4.4. Key Personnel

14.4.5. Key Product/Services

14.4.6. SWOT Analysis

14.5. SANY Group Co. Ltd

14.5.1. Business Overview

14.5.2. Key Revenue and Financials

14.5.3. Recent Developments

14.5.4. Key Personnel

14.5.5. Key Product/Services

14.5.6. SWOT Analysis

14.6. Schramm Inc.

14.6.1. Business Overview

14.6.2. Key Revenue and Financials

14.6.3. Recent Developments

14.6.4. Key Personnel

14.6.5. Key Product/Services

14.6.6. SWOT Analysis

14.7. Sandvik Drilling

14.7.1. Business Overview

14.7.2. Key Revenue and Financials

14.7.3. Recent Developments

14.7.4. Key Personnel

14.7.5. Key Product/Services

14.7.6. SWOT Analysis

14.8. Dando Drilling International Ltd

14.8.1. Business Overview

14.8.2. Key Revenue and Financials

14.8.3. Recent Developments

14.8.4. Key Personnel

14.8.5. Key Product/Services

14.8.6. SWOT Analysis

14.9. Streicher Drilling Technology GmbH

14.9.1. Business Overview

14.9.2. Key Revenue and Financials

14.9.3. Recent Developments

14.9.4. Key Personnel

14.9.5. Key Product/Services

14.9.6. SWOT Analysis

14.10. Beijing Sinovo International & Sinovo Heavy Industry Co. Ltd.

14.10.1. Business Overview

14.10.2. Key Revenue and Financials

14.10.3. Recent Developments

14.10.4. Key Personnel

14.10.5. Key Product/Services

14.10.6. SWOT Analysis

15. Strategic Recommendations

15.1. Key focus towards Offshore segment

15.2. Key focus on Asia-Pacific

About Us & Disclaimer

Figures and Tables

Frequently asked questions

What is the use of Rotary Drilling Rig?

Rotary drilling rigs use drilling mud to lubricate, cool, and clean drill bits, control downhole pressure, stabilize borehole walls, and remove drilling debris for better penetration rates and increased operating efficiency.

Which are the main market players in the Global Rotary Drilling Rig market?

Zoomlion Heavy Industry Science &Technology Co. Ltd, Caterpillar. Inc, Bauer AG, Atlas Copco, SANY Group Co. Ltd, Schramm Inc., Sandvik Drilling, Dando Drilling International Ltd, Streicher Drilling Technology GmbH, Beijing Sinovo International & Sinovo Heavy Industry Co. Ltd.are the major market players in the Global Rotary Drilling Rig Market.