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Global Oil and Gas Rigs Market by Type (Oil rig, Gas rig), By Application (OEMs, Aftermarket) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: ME-575
  • Author: Up Market Research
  • Rating: 4.9
  • Total Reviews: 99
  • No. Of Pages: 249
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  • Pub. Date: 2021-03-01
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The oil and gas rig industry are one of the most lucrative industries in the world. The rigs are used by energy companies to drill for petroleum and natural gas, which are then processed into fuel or refined into other products. In this post, we will look at trends in global rig markets for 2018-2028 with a focus on market forecast data for each region of the globe: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

Oil rigs are used to explore petroleum, drill wells and extract the oil that is found. Gas rigs on the other hand are used for natural gas extraction. The two types of the rig can be differentiated by their structure: whereas an oil rig has a cylindrical shape with many supports rising up from its periphery, a gas rig may have a dome-like shape, a platform at the center with supports extending outward in all directions.

On the basis of type, the global oil and gas rigs market is segregated into Oil rigs, Gas rigs.

Oil Rigs

Oil rigs are equipment that is used to extract crude oil from the ground. This can be done in two ways: through drilling and hydraulic fracturing (fracking). Oil rigs are often more expensive than gas rigs, mainly due to their complexity.

Oil rigs are used in the drilling process, which is where oil and gas deposits are accessed. The equipment on an oil rig allows for a drill to be lowered down into the ground from inside of a well borehole. Oil rigs can also help provide hydraulic fracturing services. Hydraulic fracking involves pumping fluid (usually water) at high pressure underground and it creates fractures in rock formations that allow hydrocarbons to flow out more easily. This technology has been around since 1947 but its use increased dramatically with innovation over time due to advances in computer modeling techniques and automotive technologies such as directional drills, horizontal drilling, multistage pumps, etc., There are two main types of oil rigs: one designed for land-based operations while another is designed to be used offshore.

Gas Rigs

Gas rigs are equipment used for the exploration and production of natural gas. The primary function of a gas rig is to inject fluids downhole in order to push out additional hydrocarbons from the formation, which increase flow rates, efficiency, and reservoir pressure.

A gas rig may also refer to a drilling platform that is mainly used for the extraction of natural gas from wells but it can also support production, storage, and transportation operations too. Gas rigs are usually anchored near coasts or onshore locations where oil deposits are shallow enough to drill with limited equipment. A large number of these type of rigs were built in Europe during the 1970s when exploration activities became widespread there due to increased demand for energy and more accessible reserves becoming available; they have since been progressively replaced by platforms made out of steel rather than wood which is cheaper and easier-to-build material.

On the basis of application, the global oil and gas rigs market is segmented into OEMs (Original Equipment Manufacturers) or aftermarket.

OEMs (Original Equipment Manufacturers)

The OEMs segment includes the companies that use oil and gas rigs in their own operations. This typically involves exploration or production of petroleum resources by drilling wells into underground reservoirs, extracting fluids from those reservoirs, separating them into hydrocarbons with different boiling points then transporting them to refineries where these are processed further for storage or sale and distribution.


The aftermarket for oil and gas rigs is the secondary or used market. In this sector, buyers purchase old equipment that has been fully depreciated by its original owners. The term "after-markets" refers to secondhand markets in which goods are sold one owner after another as opposed to a new item being made available from scratch. While it's not quite so easy to unload an older rig into someone else's hands, there are still many people who have them stashed away with no intention of ever using them again. Aftermarket sales often happen when companies decide they need something newer than what they currently have on their inventory list - but don't want to spend money building a whole new set of machinery just yet.

On the basis of region, the global oil and gas rigs market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. In 2018, the North American region dominated the global oil and gas rigs market with around 33% of the total revenue share by type; whereas, in 2020, this dominance will further increase to 38%.

Latin America accounted for more than 16% revenue share of regional demand in 2018 followed by Western European countries (14%). The regions such as Eastern Europe are anticipated to witness significant growth during the forecast timespan from 2019-2028 due to high investments in exploration activities coupled with growing energy needs across emerging economies including Poland, Czech Republic, and Hungary among others.

The Asia Pacific has witnessed a substantial rise in awareness about offshore drilling which led it to become one of the fastest-growing regions in terms of demand for oil and gas rigs.

Growth Factors

The global oil and gas rigs market is primarily driven by the increasing demand for natural resources. The need to extract more unconventional sources of energy has led to the higher requirements in rig count, which in turn drives the growth of this market. In addition, increased exploration activities across emerging economies such as China provides an impetus for investment in drilling technology that further augments the prospects for this industry.

inking of the growth factors for the global oil and gas rigs market, we can say that there are many. The first one is increasing demand from emerging economies like China and India as these countries will be in need of more energy going into future years.

Another factor to consider is an increase in exploration drilling due to a rise in commodity prices which has led towards companies developing new resources through extraction methods such as fracking or deep-sea drilling. These two factors combined have led towards increased investment by national governments across Africa, Central Asia, and Latin America who want to ensure they extract their country's natural resources before someone else does it instead. Combined with this high level of competition over finite resources means that supply chains will find themselves under pressure with regards to both costs and speed.

Up Market Research published a new report titled “Oil and Gas Rigs Market research report which is segmented by Types (Oil rig, Gas rig), By Applications (OEMs, Aftermarket), By Players/Companies A.P. MOLLER - MAERSK, DIAMOND OFFSHORE DRILLING, Nabors Industries, Noble, Seadrill, TRANSOCEAN”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report Attributes Report Details
Report Title Oil and Gas Rigs Market Research Report
By Type Oil rig, Gas rig
By Application OEMs, Aftermarket
By Companies A.P. MOLLER - MAERSK, DIAMOND OFFSHORE DRILLING, Nabors Industries, Noble, Seadrill, TRANSOCEAN
Regions Covered North America, Europe, APAC, Latin America, MEA
Base Year 2020
Historical Year 2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year 2028
Number of Pages 249
Number of Tables & Figures 175
Customization Available Yes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Oil and Gas Rigs Industry Outlook

Global Oil and Gas Rigs Market Report Segments:

The market is segmented by Type Oil rig, Gas rig and By Application OEMs, Aftermarket.


Some of the companies that are profiled in this report are:

  3. Nabors Industries
  4. Noble
  5. Seadrill

Oil and Gas Rigs Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Oil and Gas Rigs Market

Overview of the regional outlook of the Oil and Gas Rigs Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Oil and Gas Rigs Market Overview

Highlights of The Oil and Gas Rigs Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Oil and Gas Rigs Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
  6. By Type:

                1. Oil rig

                2. Gas rig

       7. By Application:

                1. OEMs

                2. Aftermarket

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Oil and Gas Rigs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Oil and Gas Rigs Market Statistics

Reasons to Purchase the Oil and Gas Rigs Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Oil and Gas Rigs Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Oil and Gas Rigs Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Oil and Gas Rigs Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Oil and Gas Rigs Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Oil and Gas Rigs Market Size & Forecast, 2018-2028 
      4.5.1 Oil and Gas Rigs Market Size and Y-o-Y Growth 
      4.5.2 Oil and Gas Rigs Market Absolute $ Opportunity 

Chapter 5 Global Oil and Gas Rigs Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2 Oil and Gas Rigs Market Size Forecast by Type
      5.2.1 Oil rig
      5.2.2 Gas rig
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Oil and Gas Rigs Market Analysis and Forecast by Applications
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Applications
      6.1.2 Basis Point Share (BPS) Analysis by Applications
      6.1.3 Absolute $ Opportunity Assessment by Applications
   6.2 Oil and Gas Rigs Market Size Forecast by Applications
      6.2.1 OEMs
      6.2.2 Aftermarket
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Oil and Gas Rigs Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Oil and Gas Rigs Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Oil and Gas Rigs Analysis and Forecast
   9.1 Introduction
   9.2 North America Oil and Gas Rigs Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Oil and Gas Rigs Market Size Forecast by Type
      9.6.1 Oil rig
      9.6.2 Gas rig
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type
   9.10 North America Oil and Gas Rigs Market Size Forecast by Applications
      9.10.1 OEMs
      9.10.2 Aftermarket
   9.11 Basis Point Share (BPS) Analysis by Applications 
   9.12 Absolute $ Opportunity Assessment by Applications 
   9.13 Market Attractiveness Analysis by Applications

Chapter 10 Europe Oil and Gas Rigs Analysis and Forecast
   10.1 Introduction
   10.2 Europe Oil and Gas Rigs Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Oil and Gas Rigs Market Size Forecast by Type
      10.6.1 Oil rig
      10.6.2 Gas rig
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type
   10.10 Europe Oil and Gas Rigs Market Size Forecast by Applications
      10.10.1 OEMs
      10.10.2 Aftermarket
   10.11 Basis Point Share (BPS) Analysis by Applications 
   10.12 Absolute $ Opportunity Assessment by Applications 
   10.13 Market Attractiveness Analysis by Applications

Chapter 11 Asia Pacific Oil and Gas Rigs Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Oil and Gas Rigs Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Oil and Gas Rigs Market Size Forecast by Type
      11.6.1 Oil rig
      11.6.2 Gas rig
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type
   11.10 Asia Pacific Oil and Gas Rigs Market Size Forecast by Applications
      11.10.1 OEMs
      11.10.2 Aftermarket
   11.11 Basis Point Share (BPS) Analysis by Applications 
   11.12 Absolute $ Opportunity Assessment by Applications 
   11.13 Market Attractiveness Analysis by Applications

Chapter 12 Latin America Oil and Gas Rigs Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Oil and Gas Rigs Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Oil and Gas Rigs Market Size Forecast by Type
      12.6.1 Oil rig
      12.6.2 Gas rig
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type
   12.10 Latin America Oil and Gas Rigs Market Size Forecast by Applications
      12.10.1 OEMs
      12.10.2 Aftermarket
   12.11 Basis Point Share (BPS) Analysis by Applications 
   12.12 Absolute $ Opportunity Assessment by Applications 
   12.13 Market Attractiveness Analysis by Applications

Chapter 13 Middle East & Africa (MEA) Oil and Gas Rigs Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Oil and Gas Rigs Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Oil and Gas Rigs Market Size Forecast by Type
      13.6.1 Oil rig
      13.6.2 Gas rig
   13.7 Basis Point Share (BPS) Analysis by Type 
   13.8 Absolute $ Opportunity Assessment by Type 
   13.9 Market Attractiveness Analysis by Type
   13.10 Middle East & Africa (MEA) Oil and Gas Rigs Market Size Forecast by Applications
      13.10.1 OEMs
      13.10.2 Aftermarket
   13.11 Basis Point Share (BPS) Analysis by Applications 
   13.12 Absolute $ Opportunity Assessment by Applications 
   13.13 Market Attractiveness Analysis by Applications

Chapter 14 Competition Landscape 
   14.1 Oil and Gas Rigs Market: Competitive Dashboard
   14.2 Global Oil and Gas Rigs Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 A.P. MOLLER - MAERSK
      14.3.3 Nabors Industries
      14.3.4 Noble
      14.3.5 Seadrill
      14.3.6 TRANSOCEAN
Segments Covered in the Report
The global Oil and Gas Rigs market has been segmented based on

By Types
  • Oil rig
  • Gas rig
By Applications
  • OEMs
  • Aftermarket
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Nabors Industries
  • Noble
  • Seadrill

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