August 10, 2020 07:53 ET | Source: Research and Markets Research and Markets
Dublin, Aug. 10, 2020 (GLOBE NEWSWIRE) -- The "Rotary Drilling Rig Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering. The rotary drilling market is expected to register a CAGR of more than 3.5% over the period of 2020-2025. Factors, such as improved viability of deepwater and ultra-deepwater projects and the global demand for oil, which is expected to witness an annual growth rate of 1.2 million barrels per day (mbd) till 2023, are likely to drive the rotary drilling rig market during the forecast period. However, over the years, countries across the world have witnessed rapid growth in the renewable energy sector, owing to strong policy support and sharp cost reductions. Moreover, governments of various countries are increasingly shifting toward cleaner energy sources, in order to reduce the emission levels from conventional fuels. This, in turn, is expected to hinder the market during the forecast period. Key Market Trends Offshore Rotary Drilling Rig Market to Witness a Significant Growth
Middle East & Africa to be the Fastest Growing Market
Competitive Landscape The rotary drilling rig market is moderately fragmented. Some of key players in this market include Schramm Inc., BAUER AG, Caterpillar Inc., SANY Group Co. Ltd, and Zoomlion Heavy Industry Science &Technology Co. Ltd Reasons to Purchase this report:
Key Topics Covered: 1 INTRODUCTION 1.1 Scope of the Study 1.2 Market Definition 1.3 Study Assumptions 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 4 MARKET OVERVIEW 4.1 Introduction 4.2 Market Size and Demand Forecast in USD billion, till 2025 4.3 Recent Trends and Developments 4.4 Government Policies and Regulations 4.5 Market Dynamics 4.5.1 Drivers 4.5.2 Restraints 4.6 Supply Chain Analysis 4.7 Porter's Five Forces Analysis 4.7.1 Bargaining Power of Suppliers 4.7.2 Bargaining Power of Consumers 4.7.3 Threat of New Entrants 4.7.4 Threat of Substitutes Products and Services 4.7.5 Intensity of Competitive Rivalry 5 MARKET SEGMENTATION 5.1 Location of Deployement 5.1.1 Onshore 5.1.2 Offshore 5.2 Geography 5.2.1 North America 5.2.2 Europe 5.2.3 Asia-Pacific 5.2.4 South America 5.2.5 Middle-East and Africa 6 COMPETITIVE LANDSCAPE 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements 6.2 Strategies Adopted by Leading Players 6.3 Company Profiles 6.3.1 Atlas Copco 6.3.2 BAUER AG 6.3.3 Caterpillar 6.3.4 Dando Drilling International Ltd 6.3.5 Sandvik Mining 6.3.6 SANY Group Co. Ltd 6.3.7 Schramm Inc. 6.3.8 Zoomlion Heavy Industry Science &Technology Co. Ltd 7 MARKET OPPORTUNITIES AND FUTURE TRENDS For more information about this report visit https://www.researchandmarkets.com/r/pv626k
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