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PUBLISHER: Grand View Research | PRODUCT CODE: 1870030

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PUBLISHER: Grand View Research | PRODUCT CODE: 1870030

Drilling Rig Market Size, Share & Trends Analysis Report By Deployment (Onshore, Offshore), By Type (Jack-ups, Submersible, Drill Ships), By Region, And Segment Forecasts, 2025 - 2033

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Description

Table of Contents

List of Tables

Drilling Rig Market Summary

The global drilling rig market size was estimated at USD 83.58 billion in 2024 and is projected to reach USD 138.61 billion by 2033, growing at a CAGR of 6.0% from 2025 to 2033. One of the most prominent drivers of the global market is the growing demand for oil and gas, particularly in emerging economies.

Nations such as China, India, and several African countries are experiencing rapid industrialization and urbanization, which is pushing up energy consumption across transportation, manufacturing, and power generation sectors. While developed economies are accelerating their transition toward renewable energy, fossil fuels remain a critical part of the global energy mix, especially in regions with expanding middle-class populations and infrastructure needs. Offshore drilling is evolving rapidly, with the industry increasingly targeting deepwater and ultra-deepwater reserves. Traditional shallow-water exploration is gradually giving way to projects located in water depths exceeding 1,500 meters, particularly in resource-rich regions such as Brazil's pre-salt fields, Guyana, and West Africa. These frontier basins hold vast untapped hydrocarbon reserves that require highly advanced rigs, such as drill ships and semisubmersibles, equipped with dynamic positioning, advanced blowout preventers, and robust safety features.

The economics of deepwater drilling are improving as oil prices stabilize above breakeven levels for high-spec offshore projects. Moreover, governments in resource-abundant regions are incentivizing offshore exploration with favorable regulatory and licensing regimes, further boosting demand. As a result, the deepwater and ultra-deepwater segment is becoming one of the most critical growth engines for the drilling rigs industry.

Technological innovation is reshaping drilling operations by making rigs more efficient, safer, and cost-effective. Automation tools are increasingly being integrated into rig systems, reducing human intervention in hazardous environments and enabling remote-controlled drilling operations. The adoption of real-time data analytics and digital twins allows operators to simulate drilling environments, optimize well planning, and improve drilling precision. Predictive maintenance powered by artificial intelligence (AI) and advanced sensors helps minimize unplanned downtime, thereby extending rig life and reducing operational expenses. Robotics and machine learning are also transforming repetitive tasks such as pipe handling, further enhancing efficiency.

Global Drilling Rig Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global drilling rig market report based on deployment, type, and region:

  • Deployment Outlook (Revenue, USD Million, 2021 - 2033)
  • Onshore
  • Offshore
  • Type Outlook (Revenue, USD Million, 2021 - 2033)
  • Jack-ups
  • Submersible
  • Drill ships
  • Others
  • Regional Outlook (Revenue, USD Million, 2021 - 2033)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
  • Latin America
    • Brazil
  • Middle East and Africa (MEA)
    • KSA
    • UAE
    • South Africa
Show more
Product Code: GVR-4-68040-761-3

Table of Contents

Chapter 1. Methodology and Scope

  • 1.1. Market Segmentation and Scope
  • 1.2. Research Methodology
    • 1.2.1. Information Procurement
  • 1.3. Information or Data Analysis
  • 1.4. Methodology
  • 1.5. Research Scope and Assumptions
  • 1.6. Market Formulation & Validation
  • 1.7. Country Based Segment Share Calculation
  • 1.8. List of Data Sources

Chapter 2. Executive Summary

  • 2.1. Market Outlook
  • 2.2. Segment Outlook
  • 2.3. Competitive Insights

Chapter 3. Drilling Rig Market Variables, Trends, & Scope

  • 3.1. Market Lineage Outlook
  • 3.2. Market Dynamics
    • 3.2.1. Market Driver Analysis
    • 3.2.2. Market Restraint Analysis
    • 3.2.3. Industry Challenge
  • 3.3. Drilling Rig Market Analysis Tools
    • 3.3.1. Industry Analysis - Porter's
      • 3.3.1.1. Bargaining power of the suppliers
      • 3.3.1.2. Bargaining power of the buyers
      • 3.3.1.3. Threats of substitution
      • 3.3.1.4. Threats from new entrants
      • 3.3.1.5. Competitive rivalry
    • 3.3.2. PESTEL Analysis
      • 3.3.2.1. Political landscape
      • 3.3.2.2. Economic landscape
      • 3.3.2.3. Social landscape
      • 3.3.2.4. Technological landscape
      • 3.3.2.5. Environmental landscape
      • 3.3.2.6. Legal landscape

Chapter 4. Drilling Rig Market: Deployment Estimates & Trend Analysis

  • 4.1. Segment Dashboard
  • 4.2. Drilling Rig Market: Deployment Movement Analysis, USD Million, 2024 & 2033
  • 4.3. Onshore
    • 4.3.1. Onshore Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 4.4. Offshore
    • 4.4.1. Offshore Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)

Chapter 5. Drilling Rig Market: Type Estimates & Trend Analysis

  • 5.1. Segment Dashboard
  • 5.2. Drilling Rig Market: Type Movement Analysis, USD Million, 2024 & 2033
  • 5.3. Jack-ups
    • 5.3.1. Jack-ups Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 5.4. Submersible
    • 5.4.1. Submersible Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 5.5. Drill Ships
    • 5.5.1. Drill Ships Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 5.6. Others
    • 5.6.1. Others Market Revenue Estimates and Forecasts, 2021 - 2033 (USD Million)

Chapter 6. Drilling Rig Market: Regional Estimates & Trend Analysis

  • 6.1. Drilling Rig Market Share, By Region, 2024 & 2033, USD Million
  • 6.2. North America
    • 6.2.1. North America Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.2.2. U.S.
      • 6.2.2.1. U.S. Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.2.3. Canada
      • 6.2.3.1. Canada Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.2.4. Mexico
      • 6.2.4.1. Mexico Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 6.3. Europe
    • 6.3.1. Europe Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.3.2. UK
      • 6.3.2.1. UK Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.3.3. Germany
      • 6.3.3.1. Germany Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.3.4. France
      • 6.3.4.1. France Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 6.4. Asia Pacific
    • 6.4.1. Asia Pacific Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.4.2. China
      • 6.4.2.1. China Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.4.3. Japan
      • 6.4.3.1. Japan Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.4.4. India
      • 6.4.4.1. India Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.4.5. South Korea
      • 6.4.5.1. South Korea Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.4.6. Australia
      • 6.4.6.1. Australia Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 6.5. Latin America
    • 6.5.1. Latin America Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.5.2. Brazil
      • 6.5.2.1. Brazil Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
  • 6.6. Middle East and Africa
    • 6.6.1. Middle East and Africa Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.6.2. KSA
      • 6.6.2.1. KSA Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.6.3. UAE
      • 6.6.3.1. UAE Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)
    • 6.6.4. South Africa
      • 6.6.4.1. South Africa Drilling Rig Market Estimates and Forecasts, 2021 - 2033 (USD Million)

Chapter 7. Competitive Landscape

  • 7.1. Company Categorization
  • 7.2. Company Market Positioning
  • 7.3. Company Heat Map Analysis
  • 7.4. Company Profiles/Listing
    • 7.4.1. Nabors Industries Ltd.
      • 7.4.1.1. Participant's Overview
      • 7.4.1.2. Financial Performance
      • 7.4.1.3. Product Benchmarking
      • 7.4.1.4. Strategic Initiatives
    • 7.4.2. Transocean Ltd.
      • 7.4.2.1. Participant's Overview
      • 7.4.2.2. Financial Performance
      • 7.4.2.3. Product Benchmarking
      • 7.4.2.4. Strategic Initiatives
    • 7.4.3. SAIPEM SpA
      • 7.4.3.1. Participant's Overview
      • 7.4.3.2. Financial Performance
      • 7.4.3.3. Product Benchmarking
      • 7.4.3.4. Strategic Initiatives
    • 7.4.4. Seadrill Limited
      • 7.4.4.1. Participant's Overview
      • 7.4.4.2. Financial Performance
      • 7.4.4.3. Product Benchmarking
      • 7.4.4.4. Strategic Initiatives
    • 7.4.5. Schlumberger NV (SLB)
      • 7.4.5.1. Participant's Overview
      • 7.4.5.2. Financial Performance
      • 7.4.5.3. Product Benchmarking
      • 7.4.5.4. Strategic Initiatives
    • 7.4.6. Valaris Limited
      • 7.4.6.1. Participant's Overview
      • 7.4.6.2. Financial Performance
      • 7.4.6.3. Product Benchmarking
      • 7.4.6.4. Strategic Initiatives
    • 7.4.7. Noble Corporation
      • 7.4.7.1. Participant's Overview
      • 7.4.7.2. Financial Performance
      • 7.4.7.3. Product Benchmarking
      • 7.4.7.4. Strategic Initiatives
    • 7.4.8. China Oilfield Services Ltd. (COSL)
      • 7.4.8.1. Participant's Overview
      • 7.4.8.2. Financial Performance
      • 7.4.8.3. Product Benchmarking
      • 7.4.8.4. Strategic Initiatives
    • 7.4.9. Baker Hughes
      • 7.4.9.1. Participant's Overview
      • 7.4.9.2. Financial Performance
      • 7.4.9.3. Product Benchmarking
      • 7.4.9.4. Strategic Initiatives
    • 7.4.10. ADNOC Drilling
      • 7.4.10.1. Participant's Overview
      • 7.4.10.2. Financial Performance
      • 7.4.10.3. Product Benchmarking
      • 7.4.10.4. Strategic Initiatives
Show more
Product Code: GVR-4-68040-761-3

List of Tables

  • Table 1 Global Drilling Rig Market size estimates & forecasts, 2021 - 2033 (USD Million)
  • Table 2 Global Drilling Rig Market, by region, 2021 - 2033 (USD Million)
  • Table 3 Global Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 4 Global Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 5 Onshore market, by region, 2021 - 2033 (USD Million)
  • Table 6 Offshore market, by region, 2021 - 2033 (USD Million)
  • Table 7 Jack-ups market, by region, 2021 - 2033 (USD Million)
  • Table 8 Submersible market, by region, 2021 - 2033 (USD Million)
  • Table 9 Drill Ships market, by region, 2021 - 2033 (USD Million)
  • Table 10 Others market, by region, 2021 - 2033 (USD Million)
  • Table 11 North America Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 12 North America Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 13 U.S. Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 14 U.S. Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 15 Canada Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 16 Canada Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 17 Mexico Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 18 Mexico Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 19 Europe Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 20 Europe Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 21 UK Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 22 UK Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 23 Germany Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 24 Germany Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 25 France Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 26 France Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 27 Asia Pacific Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 28 Asia Pacific Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 29 China Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 30 China Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 31 India Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 32 India Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 33 Japan Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 34 Japan Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 35 Australia Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 36 Australia Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 37 South Korea Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 38 South Korea Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 39 Latin America Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 40 Latin America Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 41 Brazil Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 42 Brazil Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 43 MEA Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 44 MEA Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 45 KSA Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 46 KSA Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 47 UAE Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 48 UAE Drilling Rig Market, by type, 2021 - 2033 (USD Million)
  • Table 49 South Africa Drilling Rig Market, by deployment, 2021 - 2033 (USD Million)
  • Table 50 South Africa Drilling Rig Market, by type, 2021 - 2033 (USD Million)

List of Figures

  • Fig. 1 Drilling Rig Market Segmentation
  • Fig. 2 Market Research Process
  • Fig. 3 Information Procurement
  • Fig. 4 Primary Research Pattern
  • Fig. 5 Market Research Approaches
  • Fig. 6 Value Chain-Based Sizing & Forecasting
  • Fig. 7 Parent Market Analysis
  • Fig. 8 Market Formulation & Validation
  • Fig. 9 Drilling Rig Market Snapshot
  • Fig. 10 Drilling Rig Market Segment Snapshot
  • Fig. 11 Drilling Rig Market Competitive Landscape Snapshot
  • Fig. 12 Market Research Process
  • Fig. 13 Market Driver Relevance Analysis (Current & Future Impact)
  • Fig. 14 Market Restraint Relevance Analysis (Current & Future Impact)
  • Fig. 15 Drilling Rig Market: Deployment Outlook Key Takeaways (USD Million)
  • Fig. 16 Drilling Rig Market: Deployment Movement Analysis (USD Million), 2024 & 2033
  • Fig. 17 Onshore Market Revenue Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 18 Offshore Market Revenue Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 19 Drilling Rig Market: Type Outlook Key Takeaways (USD Million)
  • Fig. 20 Drilling Rig Market: Type Movement Analysis (USD Million), 2024 & 2033
  • Fig. 21 Jack-Ups Market Revenue Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 22 Submersible Market Revenue Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 23 Drill Ships Market Revenue Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 24 Others Market Revenue Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 25 Drilling Rig Market: Regional Outlook, 2024 & 2033 (USD Million)
  • Fig. 26 North America Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 27 U.S. Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 28 Canada Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 29 Mexico Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 30 Europe Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 31 UK Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 32 Germany Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 33 France Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 34 Asia Pacific Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 35 Japan Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 36 China Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 37 India Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 38 Australia Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 39 South Korea Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 40 Latin America Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 41 Brazil Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 42 MEA Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 43 KSA Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 44 UAE Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 45 South Africa Drilling Rig Market Estimates And Forecasts, 2021 - 2033 (USD Million)
  • Fig. 46 Strategy Framework
  • Fig. 47 Company Categorization
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