Global
land drilling rigs market is anticipated to witness an exponential growth in
the forecast period. Land drilling rigs are among the most important tools in
the drilling and exploration activities of oil and gas manufacturing. Land rigs
are particularly designed for drilling holes on onshore sites. Their size
differs based on the reservoir conditions or oil reserves and the true vertical
depth (TVD) of the oil to be drilled.
The
factors that propel the growth of the market include increasing demand for
portable rigs, an absence of further storage capacities for the crude oil in
most of the oil-producing countries and increasing oil and gas rates across the
globe. On the other hand, there are factors that may hamper the growth of the
market including uncertainties related to low crude oil prices and the high
cost of development. Land drilling rigs market is anticipated to expand at a
significant CAGR in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
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The
key trends that will drive the growth of the market in the forecast period are
the introduction of new generation automated drilling rigs. The advantages such
as improvement in operational efficiency, continuous repetition of tasks, and
lesser prices in the mining of crude oil will lead to the demand for new
generation automated drilling rigs in the market.
Market
could be explored by product type, drives mode, application, sector, and
geography. Market could be explored by product type as Mobile and Conventional.
Based on drives mode, the market could span Electrical, Mechanical, and
Compound. The key applications that could be explored in the market include
Construction and Building, Oil and Gas industry and Metal and Mining Industry.
The
“Oil and Gas industry” segment led the market in 2017 and will continue to lead
in the forecast period. The land drilling rigs market could be explored based
on the sector as Conventional rigs and Mobile rigs. EMEA accounted for the
major share of the market in 2017 and will continue to lead in the forecast
period. The factors that could be attributed to the growth include increasing
demand increased its drilling activity and has the highest number of active rig
in the region.
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Market Segment:
The following manufacturers are covered
in this report:
•
Archer
•
Helmerich & Payne
•
KCA Deutag
•
Nabors Industries
•
National Oilwell Varco
•
Weatherford
Land Drilling Rigs Breakdown Data by
Type
•
Conventional rigs
•
Mobile rigs
Land Drilling Rigs Breakdown Data by
Application
•
Oil and Gas industry
•
Metal and Mining Industry
•
Construction and Building
Land Drilling Rigs Production by Region
•
United States
•
Europe
•
China
•
Japan
•
Other Regions
•
Other Regions
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