DUBLIN--(BUSINESS WIRE)--The "Global Offshore Drilling Market 2020-2024" report has been added to ResearchAndMarkets.com's offering.

The offshore drilling market is poised to grow by $ 11.34 bn during 2020-2024 progressing at a CAGR of 6% during the forecast period.

The report on the offshore drilling market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growth in demand for oil and natural gas, rise in deepwater and ultra-deepwater E&P activities and increase in global offshore rig count. In addition, growth in demand for oil and natural gas is anticipated to boost the growth of the market as well.

This study identifies the seizing of funding for E&P activities by World Bank as one of the prime reasons driving the offshore drilling market growth during the next few years. Also, declining costs of offshore projects and emergence of next-generation automated drilling rigs will lead to sizable demand in the market.

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading offshore drilling market vendors that include 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, and Weatherford International Plc.

Also, the offshore drilling market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Key Topics Covered:

Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by Application

Customer landscape

Geographic Landscape

Vendor Landscape

Vendor Analysis

Appendix

For more information about this report visit https://www.researchandmarkets.com/r/g314mt

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Global Offshore Drilling Market 2020-2024: Market is Poised to Grow by $11.34 Billion - ResearchAndMarkets.com - Business Wire