PUNE, India, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global offshore drilling market amounted to USD 31.26 billion in 2018. The global market size is expected to gain momentum by reaching USD 56.97 billion by 2026, showing a CAGR of 7.9% during the forecast period of 2021-2026. This information is provided by Fortune Business Insights in its report titled “Offshore Drilling Market, 2021-2026”.
According to our analysts, factors such as increasing global demand for electricity are expected to propel the growth of this market. Major investments by national governments in offshore E&P activities to increase sales.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/offshore-drilling-market-102636
Report Highlights:
| report coverage | details |
| forecast period | 2019-2026 |
| Forecast period 2020 to 2026 CAGR | 7.9% |
| Value prognosis 2026 | $56.97 billion |
| base year | 2018 |
| Market size in 2018 | $31.26 billion |
| Historical data for | 2015-2017 |
| number of pages | 140 |
| segments covered | By rig type, by water depth and by region |
| growth accelerator | Increasing investment to discover untapped hydrocarbon reserves to fuel the market |
| Massive economic activity to increase offshore drilling activity |
COVID-19 Impact Analysis-
The outbreak of COVID-19 has hit various industries, affecting sales. The global lockdown and severe restrictions imposed by governments have resulted in a long shutdown of manufacturing operations at several companies. This affected the revenue and revenue generation rate of the major key players. To maintain government-imposed social distancing norms, various companies have reduced operational staff, impacting their production and supply chain.
To learn more about the short- and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/offshore-drilling-market-102636
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