Land Drilling Rigs Market will register a CAGR of 2% during 2020-2024. The market’s growth momentum will Accelerate.
Rising global oil and gas consumption | Rise in unconventional oil and gas resources | Discovery of new oil fields will be one of the major factors driving the growth of this market. Additionally, key Land Drilling Rigs Market trends such as the Discovery of new oil fields will also influence market growth during the forecast period.
Land Drilling Rigs Market Size
During the forecast period, the Land Drilling Rigs Market size will grow by $ 3.26 bn.
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Land Drilling Rigs Market : Vendors
The market is fragmented and owing to the growth opportunities, the level of competition among the companies in this market space will intensify further. are some of the major companies in the Land Drilling Rigs Market. Though the forecast period offers opportunities for vendors to increase their market share, factors such as the Uncertainties associated with low crude oil prices | World Bank to cease financing upstream oil and gas projects after 2019 | Increasing investments in renewable energy will also challenge the growth of the companies.
Archer Ltd. | Cactus Drilling Co. LLC | Drillmec Spa | Helmerich & Payne Inc. | KCA Deutag Alpha Ltd. | Nabors Industries Ltd. | National Oilwell Varco Inc. | Parker Drilling Co. | Patterson-UTI Energy Inc. | Weatherford International Plc.list
are some of the companies covered in Technavio’s Land Drilling Rigs Market report for 2021-2025.
Land Drilling Rigs Market : Region-level Analysis
The report identifies region-level market dynamics, developments, and key markets. The regional level analysis also identifies the market share, growth momentum, and key leading countries in the Land Drilling Rigs Market.
The MEA will account for the largest Land Drilling Rigs Market share and during 2021-2025, the region will contribute to 40% of the market’s growth.
In addition to regions and the key companies involved, Technavio’s Land Drilling Rigs Market report also analyzes the market by Conventional rigs | Mobile rigs | MEA | North America | APAC | Europe | South America
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