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NEW YORK, April 29, 2021 /PRNewswire/ -- The offshore drilling market is expected to grow by USD 7.04 billion, progressing at a CAGR of over4% during the forecast period.Download Our Free Sample Report The growth in demand for oil and natural gas is one of the major factors propelling the market growth. However, fluctuations in the price of crude oil might hamper the market growth. Offshore Drilling Market: Application LandscapeBased on the application, the market witnessed maximum growth in the shallow water offshore drilling segment. The segment is driven by the less complex nature ofshallow water offshore drilling compared to deepwater andultra-deepwater, which results in better safety and economic viability. The market growth in the segment will be significant during the forecast period.Offshore Drilling Market: Geographic LandscapeBy geography, APAC is going to have lucrative growth during the forecast period. About 35% of the market's overall growth is expected to originate from APAC. Therising number of offshore drilling projects will be crucial in driving the growth of the offshore drilling market in APAC.Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.View Our Sample Report Before PurchasingRelated Reports on Energy Include:GlobalOffshore Drilling Rigs Market- Global offshore drilling rigs market is segmented bytype (Bottom-supported rigs and Floating rigs) and geography (APAC, MEA, North America, Europe, and South America).Download the Exclusive Free Sample ReportGlobalLand Drilling Rigs Market- Global land drilling rigs market is segmented bytype (conventional rigs and mobile rigs) and geography (MEA, North America, APAC, Europe, and South America).Download the Exclusive Free Sample ReportCompanies Covered: Baker Hughes Co. China Oilfield Services Ltd. Halliburton Co. KCA Deutag Alpha Ltd. National Oilwell Varco Inc. Schlumberger Ltd. The Drilling Co. of 1972 AS Transocean Ltd. Valaris Plc Weatherford International Plc What our reports offer: Market share assessments for the regional and country-level segments Strategic recommendations for the new entrants Covers market data for 2020, 2021, until 2025 Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations) Strategic recommendations in key business segments based on the market estimations Competitive landscaping mapping the key common trends Company profiling with detailed strategies, financials, and recent developments Supply chain trends mapping the latest technological advancements Key Topics Covered:Executive SummaryMarket Landscape Market ecosystem Value chain analysis Market Sizing Market definition Market segment analysis Market size 2019 Market outlook: Forecast for 2019 - 2024 Five Forces Analysis Five forces summary Bargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition Market Segmentation by Application Market segments Comparison by Application Shallow water - Market size and forecast 2019-2024 Deepwater - Market size and forecast 2019-2024 Ultra-deepwater - Market size and forecast 2019-2024 Market opportunity by Application Customer landscapeGeographic Landscape Geographic segmentation Geographic comparison North America - Market size and forecast 2019-2024 APAC - Market size and forecast 2019-2024 Europe - Market size and forecast 2019-2024 MEA - Market size and forecast 2019-2024 South America - Market size and forecast 2019-2024 Key leading countries Market opportunity by geography Market drivers Market challenges Market trends Vendor Landscape Vendor landscape Landscape disruption Competitive scenario Vendor Analysis Vendors covered Market positioning of vendors Baker Hughes Co. China Oilfield Services Ltd. Halliburton Co. KCA Deutag Alpha Ltd. National Oilwell Varco Inc. Schlumberger Ltd. The Drilling Co. of 1972 AS Transocean Ltd. Valaris Plc Weatherford International Plc Appendix Scope of the report Currency conversion rates for US$ Research methodology List of abbreviations About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [emailprotected]Website: www.technavio.com/Report: www.technavio.com/report/offshore-drilling-market-industry-analysisSOURCE Technavio Related Links http://www.technavio.com/

Answer: Analyzing COVID-19 Impact on Offshore Drilling Market | $ 7.04 Bn Growth Expected Between 2021-2025 | Technavio