Land Drilling Rigs Market Report has newly added to its massive repository. Diverse industry-explicit strategies have been utilized for examining the market cautiously. The informative data has been inspected through primary and secondary research techniques. The global Land Drilling Rigs market has been analyzed by focusing on different verticals of the businesses such as market trends, regional outlook, competitive landscape, key players, business approaches, technologies, and standard operating procedures
An exclusive Land Drilling Rigs Market research report contains a brief on those trends which may enable the companies operating into know to strategize and the current sector to their small enterprise expansion. The investigation report analyses the market size, industry share, growth, key sections, CAGR, and drivers.
Top Companies in the Global Land Drilling Rigs Market: Archer, Helmerich & Payne, KCA Deutag, Nabors Industries, National Oilwell Varco, Weatherford, ….
The global Land Drilling Rigs Market to grow with a CAGR of 5.5% over the forecast period of 2018-2025.
A drilling rig is a machine that creates holes in the earth’s subsurface. Drilling rigs can be massive structures housing equipment used to drill water wells, oil wells, or natural gas extraction wells, or they can be small enough to be moved manually by one person and such are called augers.
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Land Drilling Rig Market
The year 2017 was a turning point for land drilling rig contractors after setting the record low utilization rate in 2016. Land drilling rig market witnessed remarkable growth in North America. In the US, the onshore rig demand increased by 107% in 2017. While internationally (excluding the US and Canada), 763 rigs were active in 2017, which was 8.5% higher than 2016 level. As we enter 2018, the crude oil price is well above USD 65 per dollar and has even touched USD 80 per barrels, the industry seems more optimistic than in recent times. Oil & gas companies are planning to invest in the projects which were put on hold due to high cost of development.
United States Holds the Largest Share in Land Drilling Rig Market
As the crude oil prices has recovered, the country has increased its drilling activity and has the highest number of active rig count currently. In 2017, the active rig count increased by around 39% in 2017. In 2018, the count crossed 1000, resulting in high demand for drilling rig. The robust drilling activity in the country is supported by technological improvement in hydraulic fracturing and low breakeven prices. As a result, the fleet utilization in the country rose to 46% after two years of decline. The increasing share of horizontal drilling in the US has resulted in high demand for high-spec drilling rigs. In addition to receiving new rig orders, some of the large contractors are upgrading their rigs to meet these requirements. As the country drills more well in the coming years, the demand for high-spec drilling rigs is expected to grow.
The Land Drilling Rigs market can be devided based on product types and It’s sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Land Drilling Rigs Market on the basis of Types are:
On The basis Of Application, the Global Land Drilling Rigs Market is Segmented into:
Oil and Gas industry
Metal and Mining Industry
Construction and Building
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Regions Are covered By Land Drilling Rigs Market Report 2019 To 2025.
North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia).
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Land Drilling Rigs Market
– Changing Land Drilling Rigs market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected Land Drilling Rigs market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Land Drilling Rigs Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.
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