Jack-Up Rig Global Market Report 2026

A jack-up rig is an elevated platform featuring a floating hull and extendable legs that can be lowered to the ocean floor and raised above sea level. It is extensively utilized in oil and gas extraction, particularly for drilling oil from deep-sea reservoirs.

The primary types within the jack-up rig market include mobile offshore drilling units, turbine installation vessels, and barges. Mobile offshore drilling units (MODUs) are large structures engineered to operate in deep water and challenging weather conditions, with the capability of drilling wells in varying water depths. These depths are categorized as shallow water, deepwater, and ultra-deep water, and are applied in oil and gas extraction as well as construction.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the jack-up rig market by increasing the cost of imported steel structures, drilling equipment, jacking systems, and control electronics. Offshore oil and gas operators in North America and Europe are most affected due to reliance on imported rig components, while Asia-Pacific shipyards face export price pressure. These tariffs are raising capital investment costs and extending project timelines. However, they are also encouraging local fabrication, regional shipyard development, and innovation in cost-optimized and multi-purpose offshore platforms.

The jack-up rig market research report is one of a series of new reports from The Business Research Company that provides jack-up rig market statistics, including jack-up rig industry global market size, regional shares, competitors with a jack-up rig market share, detailed jack-up rig market segments, market trends and opportunities, and any further data you may need to thrive in the jack-up rig industry. This jack-up rig market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The jack-up rig market size has grown strongly in recent years. It will grow from $3.65 billion in 2025 to $3.85 billion in 2026 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to offshore oil exploration growth, shallow water drilling demand, reliance on conventional rigs, energy demand increase, marine engineering advances.

The jack-up rig market size is expected to see strong growth in the next few years. It will grow to $4.9 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to offshore wind energy expansion, digital rig monitoring, energy security focus, automation in offshore operations, modernization of drilling fleets. Major trends in the forecast period include growth of offshore drilling activities, expansion of offshore wind installations, demand for high-capacity jack-up rigs, focus on operational safety, integration of digital monitoring systems.

An expansion of offshore wind energy is expected to propel the growth of the jack-up rig market going forward. Offshore wind energy involves harnessing wind power from turbines installed in bodies of water, typically oceans or seas, to generate electricity. Offshore wind energy utilizes jack-up rigs to install and maintain wind turbines in deeper waters, providing stability during construction due to their ability to elevate above the water level. For instance, in August 2024, according to the National Renewable Energy Laboratory (NREL), a US-based research institute, eight states have established procurement mandates aiming for a total of 45,730 MW of offshore wind capacity by 2040. The U.S. offshore wind energy market remains propelled by state-level procurement efforts, strategic planning, and energy policies. As of May 31, 2024, these mandates across the eight states amount to 45,730 MW. Additionally, five other states have set formal planning goals, and when combined with the existing mandates, the overall target reaches 115,130 MW by 2050. Therefore, an expansion of offshore wind energy is driving the growth of the jack-up rig market.

Companies in the jack-up rig market are focusing on developing advanced high-specification rigs to improve operational efficiency, enhance safety standards, and meet the growing needs of offshore oil and gas exploration. These high-specification jack-up rigs are sophisticated offshore drilling platforms designed for deeper water operations, featuring enhanced drilling capabilities, safety measures, and automated systems for optimal performance. For example, in May 2024, ARO Drilling, a joint venture between Saudi Aramco and Valaris, launched the Kingdom 2 jack-up rig. Designed to the Letourneau Super 116E Class standard, this rig is optimized for operations in the Arabian Gulf, capable of functioning in water depths between 200 and 330 feet, with a maximum drilling depth of 30,000 feet. It is equipped with a state-of-the-art drilling control and power management system that enhances operational efficiency through integrated equipment and a mechanized drill floor, supporting up to 120 personnel for significant offshore drilling activities.

In November 2025, ADES International Holding, a Saudi Arabia-based provider of offshore drilling services including jack-up rigs and onshore/offshore drilling operations, acquired Shelf Drilling, Ltd. for an undisclosed amount. With this acquisition, ADES aims to build a global offshore drilling powerhouse by combining complementary fleets and geographic reach, thereby significantly expanding its jack-up rig fleet and reinforcing its competitive position in shallow-water drilling markets worldwide. Shelf Drilling, Ltd. is a UAE-based operator of shallow-water offshore jack-up drilling units, offering rig operations, chartering, and drilling services across key basins, including the Middle East, Southeast Asia, West Africa, and the North Sea.

Major companies operating in the jack-up rig market are Transocean Ltd., Diamond Offshore Drilling Inc., Nabors Industries Ltd., Rowan Companies Inc., Shelf Drilling Ltd., China Oilfield Services Limited, Seadrill Limited, Noble Corporation, ENSCO Inc., Stena Drilling Ltd., Northern Offshore Ltd., Maersk Drilling AS, A.P. Moller - Maersk A/S, Seajacks Limited, Van Oord Dredging and Marine Contractors BV, Ulstein Group ASA, Lamprell Plc, Keppel Offshore And Marine, Sembcorp Marine, GustoMSC

North America was the largest region in the jack-up rig market in 2025. The regions covered in the jack-up rig market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the jack-up rig market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The jack-up rig market consists of sales of independent leg type and mat leg type. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Jack-Up Rig Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses jack-up rig market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for jack-up rig ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The jack-up rig market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Mobile Offshore Drilling Units; Turbine Installation Vessel
• 2) By Water Depth: Shallow Water; Deepwater
• 3) By Application: Oil And Gas; Construction
• Subsegments:
• 1) By Mobile Offshore Drilling Units: Independent Leg Jack-Up Rigs; Mat-Supported Jack-Up Rigs; Cantilever Jack-Up Rigs; Harsh-Environment Jack-Up Rigs; Standard Duty Jack-Up Rigs; High-Specification Jack-Up Rigs; Self-Elevating Jack-Up Drilling Units
• 2) By Turbine Installation Vessel: Self-Elevating Wind Turbine Installation Jack-Up Vessels; Heavy-Lift Jack-Up Installation Vessels; Feeder Jack-Up Installation Vessels; Multi-Purpose Jack-Up Installation Vessels; Cable Installation Jack-Up Vessels; Foundation Installation Jack-Up Vessels
• Companies Mentioned: Transocean Ltd.; Diamond Offshore Drilling Inc.; Nabors Industries Ltd.; Rowan Companies Inc.; Shelf Drilling Ltd.; China Oilfield Services Limited; Seadrill Limited; Noble Corporation; ENSCO Inc.; Stena Drilling Ltd.; Northern Offshore Ltd.; Maersk Drilling AS; A.P. Moller - Maersk A/S; Seajacks Limited; Van Oord Dredging and Marine Contractors BV; Ulstein Group ASA; Lamprell Plc; Keppel Offshore And Marine; Sembcorp Marine; GustoMSC
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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