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Rising demand for oil and gas has boosted the offshore drilling market. The report lists all the major growth drivers and restraints acting on the offshore drilling market. Forecasting the growth trajectory of the offshore drilling market, the report projects the size and valuation of the market during the period between 2014 and 2020. Mentioning the current trends in the market along with future opportunities expected to develop, the report provides detailed market analysis to existing as well as new players in the offshore drilling market. 
 
With the help of the latest research techniques and analytical tools, the report analyses the various factors affecting the offshore drilling market. Prominent offshore drilling companies have been profiled and vital information about each of the key vendors has been mentioned in the report. 
 
Overview of the Offshore Drilling Market
 
Increase in demand for oil and gas as well as other petroleum products accompanied with high oil prices across the globe has compelled market players to make huge investments and search for new offshore reserves of oil and gas. The report indicates that this will boost the growth of the offshore drilling market. New technologies related to offshore drilling will create significant opportunities for the offshore drilling market. However, offshore drilling affects the surrounding environment and various environmental regulations concerning the same could restrain the growth of the offshore drilling market. The report mentions the Environmental Protection Agency (EPA) in the U.S., which has put stringent regulations on certain types of offshore drilling such as hydraulic fracturing, which is done to extract shale hydrocarbons from rocks below the seabed. 
 
Depending on the application, the report categorizes the global offshore drilling market into deepwater drilling, ultra deepwater drilling, and shallow drilling. Depending on the services, the offshore drilling market has been segmented into offshore contract drilling, directional drilling, logging while drilling, and subsea production and processing. The report forecasts that the subsea drilling and directional drilling segments would grow during the forecast period. Besides drilling, allied services such as construction, safety and geographical survey, and personnel and equipment transport play an important role in offshore drilling activities.   
 
The report segments the global offshore drilling market into five key regions: Asia Pacific, North America, Europe, the Middle East, and Rest of the World. Middle Eastern nations have been the hub for offshore drilling activities. However, the report suggests that the focus has shifted to the golden triangle, consisting of the Gulf of Mexico, Brazil, and West Africa.
 
Companies mentioned in the research report:
 
Describing the competitive landscape of the global offshore drilling market, the report profiles the key market participants. China Oil Field Services Ltd, Transocean Limited, Shelf Drilling, Seadrill Limited, Archer Limited, and Hercules Offshore are some of the major players of the offshore drilling market.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Offshore Drilling Market

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