Get In Touch
Semi submersible rigs are specialized marine vessels and are specifically used for the offshore oil and gas drilling market. The growth of the offshore drilling industry in the future is likely to facilitate the market demand for semi submersible rigs during the forecasted period. Fixed structures are not feasible for carrying out offshore drilling activities which is why these semi submersible rigs are gradually coming into demand. The semi submersible rigs comprise of a deck supported by pillars, which are further connected to pontoons. The pontoons generally go entirely underwater and provide a platform which isn’t susceptible to ocean turbulence. These semi submersible rigs generally find the most applications in areas where the drilling depth is above 500 meters. 
These semi submersible rigs make robust and stable platforms to effectively commence drilling of offshore hydrocarbon reserves. These semi submersible rigs can be towed into position using tugboats, after which they are anchored into place. Semi-submersible rigs also come equipped with dynamic positioning systems and azimuth thrusters which can help them maintain proper positioning without the use of external force. 
Semi submersible rigs offer a number of advantages over other forms of drilling rigs. It is distinctly different from fully submersible rigs which rest at the bottom of the sea. Semi submersible rigs being disjointed from the seabed can operate in much deeper water as compared to fully submersible rigs. The semi submersible rigs offer high mobility and stability factors especially in a variety of marine conditions. These rigs can be towed at relatively faster speeds and can also operate in larger working areas. These rigs are relatively more expensive to build and operate but justify the initial capital investment over the long run. A major restraint to this market is that it requires large dry dock facilities for repairs. In the event of absence of such facilities, the rigs must be tower to large distances for repairing purposes thus increasing costs. 
The rigs may be segmented on the basis of depth of water in which they commence drilling. The depths can be segmented as deep-water and ultra deep-water drilling operations. The rigs can also be segmented on the basis of the mooring systems used. The semi submersible rigs can use either active mooring or passive mooring systems. Whilst the active mooring systems rely extensively on thrusters and dynamic positioning capability the passive mooring systems rely on wires, chains or anchors to maintain a constant position. The offshore rig market has overshot the global demand in terms of supply and is essentially an industry suffering from overcapacity currently. 
The Latin American countries along with Brazil, Mexico and Venezuela are some of the major global hubs for the offshore drilling industry. Mexico, Central and South America are showing an extremely attractive rig utilization rate which is a healthy indicator of growing demand in the future.  The European offshore rig market is mature in nature and has shown very moderate growth rates since 2010. The Asia-Pacific demand for semi submersible rigs is likely to show attractive growth rates within the forecast period. The region has a semi submersible rigs utilization rate of over 70% and is likely to emerge as one of the most attractive markets in the future. The geographical market segmentation can be done as Asia- Pacific, The Americas, Europe and Middle East & Africa (MEA). 
Some of the major market players in Semi-Submersible Rigs market include Aker Engineering and Technology, Huisman Equipment B.V., Ocean Rig and CIMC group among others.

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.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Semi Submersible Rigs

Pre Book