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Offshore Drilling Market Size Worth USD 56.97 Billion,

#Offshore #Drilling #Market #Size #Worth #USD #Billion

Pune, India, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global Offshore Drilling Market was USD 31.26 billion in 2018. The global market size is expected to gain momentum by reaching USD 56.97 billion by 2026, exhibiting a CAGR of 7.9% during the forecast period from 2021-2026. This information is provided by Fortune Business Insights, in its report, titled, “Offshore Drilling Market, 2021-2026.”

According to our analysts, the factors such as surging demand for electricity worldwide is expected to drive the growth of this market. Heavy investment in offshore E&P activities by national governments to bolster sales.

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Report Highlights:

Report Coverage Details
Forecast Period 2019-2026
Forecast Period 2020 to 2026 CAGR 7.9%
2026 Value Projection USD 56.97 billion
Base Year 2018
Market Size in 2018 USD 31.26 billion
Historical Data for 2015-2017
No. of Pages 140
Segments covered By Rig Type, By Water Depth, and By Region
Growth Drivers Growing Investment to Discover Untapped Hydrocarbon Reserves to Fuel the Market
Massive Economic Activity to Boost the Offshore Drilling Activity

COVID-19 Impact Analysis-

The outbreak of COVID-19 has affected various industries, which affected the sales. The global lockdown and stringent restrictions imposed by governments created a long halt on the production operations of several companies. This affected the major key players’ sales and revenue generation rate. To maintain social distancing norms imposed by governments, various companies have reduced the operating workforce that affected their production and supply chain.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:

Drivers and Restraints:

Devastating Environmental Impacts of Offshore Drilling to…

Read on GNW: Offshore Drilling Market Size Worth USD 56.97 Billion,

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