Market Highlights

Mobile Offshore Drilling Unit (MODUs) Market to grow at a rate of 7.8% during the forecast period 2020-2027.

Mobile offshore drilling units are the facilities, which are used to drill down for oil exploration. Once the geographical predictions show the exact location of oil beneath the earth, drilling is required to examine these predictions; this is where Mobile Offshore Drilling Unit Market are used.

Global Mobile Offshore Drilling Unit Market, 2020–2026
Mobile Offshore Drilling Unit Market is Expected to Showcase Rampant Growth Over 2026-Press release image-00

In 2019, North America Dominated the Mobile Offshore Drilling Unit Market in Terms of Market Share: MRFR

The global mobile offshore drilling unit market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. North America is expected to hold the largest share of the market during the forecast period. The regional market growth can be attributed to the rapid growth in offshore oil exploration operations within the oil & gas sector.

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Moreover, according to the US Energy Information Administration (EIA), in 2018, approximately 6.44 million bpd of crude oil was produced from tight oil resources in the US. These factors are likely to drive the market for mobile offshore drilling units in the region. In Asia-Pacific, the mobile offshore drilling unit market is expected to expand significantly, owing to rising oil and gas production and extraction. Europe is also expected to foresee positive trends in the upcoming years owing to the increasing mining activities. The market in the Middle East & Africa and South America is likely to grow significantly owing to the rapid growth in the deepwater drilling activities in the countries in these regions. The market is expected to rebound in the upcoming years due to the increased activity in the Golden Triangle – Gulf of Mexico, Brazil, and West Africa.

The global mobile offshore drilling unit market Size has been segmented based on type and application. Based on the type, the global mobile offshore drilling unit market is divided into jackup, semi-submersible, and drillship. The jackup segment is projected to hold the largest share of the market and grow at the highest rate during the review period owing to its various features such as self-sustained drilling structure and easy installation on the platform of the seafloor. All these factors are responsible for the jackup segment holding the highest market share.

Global Mobile Offshore Drilling Unit Market is expected to grow at the highest CAGR during the forecast period.

Scope of the Report

This report presents an in-depth analysis of the global Mobile offshore drilling unit market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study provides the segmentation of the global Mobile offshore drilling unit market by type, application, and region.

You may also be interested in : 

  • Type
    • Jackup
    • Semi-submersible
    • Drillship
  • Application
    • Shallow Water
    • Deepwater
  • By Region
    • North America
    • Asia-Pacific
    • Europe
    • Middle East & Africa
    • South America

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