Global Rotary Drilling Rig Market is expected to thrive during the forecast period 2024-2028 due to increased viability of deepwater and ultra-deepwater projects and global demand for oil.

A rotary drilling rig is a kind of construction machinery suitable for drilling holes in building construction and is widely used for railways, highways, bridges and municipal buildings. The rotary drilling rig has good construction quality, good environmental protection properties, gives out less dust and mud pollution, is highly flexible, and comes with high construction efficiency and hole formation. Rotary drilling rigs are basically adapted to the geological conditions of the ground and have a wide range of applications that can be used for high-rise foundation and bridge construction projects. Rotary drilling is an efficient technology used in the offshore oil and gas sector. This is a drilling technology that uses continuous circular rotation of the bit to drill the rock. In contrast, the drilling fluid circulates down the wellbore through the bit to the surface, allowing the wellbore to be drilled safely and efficiently. A rotary drill is a quick method and is significantly faster than many other conventional drilling techniques. Importantly, it also delivers highly consistent results and does not compromise on quality. In addition, rotary drilling rigs are widely used in various boring pile projects.

Advanages of Rotary Drilling Rig propelling the Global Rotary Drilling Rig Market

The oil and gas industry plays an important role in the overall growth of the country's economy, improving both economic and social life. Rising demand from the oil and gas industry and increasing demand for water exploration projects around the world have enabled major companies to make huge investments in the drilling industry, increasing the demand for water well drilling rigs. Moreover, adopting various business strategies to win more drilling contracts, expand ongoing business, and improve the market will help increase the demand for well drilling rigs during the forecast period. It is an important element of competitive analysis.

A rotary drilling rig is a fully hydraulic self-propelled crawler drilling rig that uses a fully hydraulic system, some of which are also equipped with a computer operating system. Choosing good components can extend the overall life of your equipment, and component damage will not affect its use. The equipment integrating machinery, power and fluids, has a compact structure, flexible and convenient operation, a high degree of mechanization and automation, and can be moved independently on the construction site, can carry the mast, and is convenient to move and align quick hole position. Telescopic Drill is used which saves man-hours and time for adding drill pipe, reducing auxiliary man-hours and improving time efficiency.

The drill rig can be set according to the stratum conditions, and the excavation speed can be improved by using a long bit in the cohesive soil layer. For high sand and gravel layers, a short drill pipe with mud wall protection can be used to control the drilling speed. For formations containing boulders, boulders and hard rocks, both long and short auger augers can be used to handle.

Latest Trends in Global Rotary Drilling Rig fuelling the Market Growth

·     Subsea Robotics and Offshore Projects Group was given a contract by Oceaneering for comprehensive derrick services covering the Khaleesi/Mormont and Samurai fields in the US Gulf of Mexico in 2021. The scope of work included the provision of remotely operated vehicles manned by ROV tools and technicians, remote positioning, and metrological survey resources. Project work began in 2021.

·       In 2021, Equinor was scheduled to drill approximately 10 to 13 exploration wells in the US Gulf of Mexico, off the coast of Canada, in 2022. Such investments in new exploration wells are therefore likely to increase the demand in the rotary drilling rig market.


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Market Segmentation

Global Rotary Drilling Rig Market is segmented on the basis of Location of Deployement and Application. Based on Location of Deployement, the market is bifurcated into Onshore and Offshore. Based on Application, the market is bifurcated into Oil & Gas, Mining and Others.

Market player

Major market players in the Global Rotary Drilling Rig market are Zoomlion Heavy Industry Science &Technology Co. Ltd, Caterpillar. Inc, Bauer AG, Atlas Copco, SANY Group Co. Ltd, Schramm Inc., Sandvik Drilling, Dando Drilling International Ltd, Streicher Drilling Technology GmbH, Beijing Sinovo International & Sinovo Heavy Industry Co. Ltd.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Location of Deployment

Application

Regional scope

North America, Asia-Pacific, Europe, South America, Middle East & Africa

Country scope

United States, Canada, Mexico, China, India, Japan, South Korea, Australia, Germany, United Kingdom, France, Spain, Italy, Brazil, Argentina, Colombia, Saudi Arabia, South Africa, UAE

Key companies profiled

Zoomlion Heavy Industry Science &Technology Co. Ltd, Caterpillar. Inc, Bauer AG, Atlas Copco, SANY Group Co. Ltd, Schramm Inc., Sandvik Drilling, Dando Drilling International Ltd, Streicher Drilling Technology GmbH, Beijing Sinovo International & Sinovo Heavy Industry Co. Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, the Global Rotary Drilling Rig market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Rotary Drilling Rig Market, By Location of Deployment

o   Onshore

o   Offshore

·         Rotary Drilling Rig Market, By Application

o   Oil & Gas

o   Mining

o   Others

·         Rotary Drilling Rig Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Europe

§  Germany

§  United Kingdom

§  France

§  Spain

§  Italy

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East

§  Saudi Arabia

§  South Africa

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global  Rotary Drilling Rig  market.

Available Customizations:

With the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Global Rotary Drilling Rig Market

4.    Executive Summary

5.    Voice of Customers

6.    Global Rotary Drilling Rig Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Location of Deployment (Onshore, Offshore)

6.2.2.    By Application (Oil & Gas, Mining, Others)

6.2.3.    By Region

6.2.4.    By Company

6.3.  Market Map

7.    North America Rotary Drilling Rig Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Location of Deployement

7.2.2.    By Application

7.2.3.    By Country

7.3.  North America: Country Analysis

7.3.1.    United States Rotary Drilling Rig Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.     By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.     By Location of Deployement

7.3.1.2.2.     By Application

7.3.2.    Canada Rotary Drilling Rig Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.     By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.     By Location of Deployement

7.3.2.2.2.     By Application

7.3.3.    Mexico Rotary Drilling Rig Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.     By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.     By Location of Deployement

7.3.3.2.2.     By Application

8.    Asia-Pacific Rotary Drilling Rig Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Location of Deployement

8.2.2.    By Application

8.2.3.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Rotary Drilling Rig Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.     By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.     By Location of Deployement

8.3.1.2.2.     By Application

8.3.2.    India Rotary Drilling Rig Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.     By Value 

8.3.2.2.        Market Size & Forecast

8.3.2.2.1.     By Location of Deployement

8.3.2.2.2.     By Application

8.3.3.    Japan Rotary Drilling Rig Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.     By Value 

8.3.3.2.        Market Size & Forecast

8.3.3.2.1.     By Location of Deployement

8.3.3.2.2.     By Application

8.3.4.    South Korea Rotary Drilling Rig Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.     By Value 

8.3.4.2.        Market Size & Forecast

8.3.4.2.1.     By Location of Deployement

8.3.4.2.2.     By Application

8.3.5.    Australia Rotary Drilling Rig Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.     By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.     By Location of Deployement

8.3.5.2.2.     By Application

9.    Europe Rotary Drilling Rig Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Location of Deployement

9.2.2.    By Application

9.2.3.    By Country

9.3.  Europe: Country Analysis

9.3.1.    Germany Rotary Drilling Rig Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.     By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.     By Location of Deployement

9.3.1.2.2.     By Application

9.3.2.    United Kingdom Rotary Drilling Rig Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.     By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.     By Systems

9.3.2.2.2.     By Application 

9.3.3.    France Rotary Drilling Rig Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.     By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.     By Systems

9.3.3.2.2.     By Application 

9.3.4.    Italy Rotary Drilling Rig Market Outlook

9.3.4.1.        Market Size & Forecast

9.3.4.1.1.     By Value 

9.3.4.2.        Market Share & Forecast

9.3.4.2.1.     By Systems

9.3.4.2.2.     By Application 

9.3.5.    Spain Rotary Drilling Rig Market Outlook

9.3.5.1.        Market Size & Forecast

9.3.5.1.1.     By Value 

9.3.5.2.        Market Share & Forecast

9.3.5.2.1.     By Location of Deployement

9.3.5.2.2.     By Application

10. South America Rotary Drilling Rig Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Systems

10.2.2. By Application 

10.2.3. By Country

10.3.             South America: Country Analysis

10.3.1. Brazil Rotary Drilling Rig Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.   By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.   By Systems

10.3.1.2.2.   By Application 

10.3.2. Argentina Rotary Drilling Rig Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.   By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.   By Systems

10.3.2.2.2.   By Application 

10.3.3. Colombia Rotary Drilling Rig Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.   By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.