9.27% CAGR for Offshore Drilling Rigs Market with Estimated Growth of $65.77 Billion in 2014 to $102.47.2 Billion by 2019
Offshore drilling rigs play a key role in oil and gas development. The ever-increasing offshore exploration and production activities across the globe and the drilling activities taking place at ultra-deep water depths are driving the market. On the other hand, issues associated with the environment, geopolitical turmoil, and a lack of skilled professionals, are adversely affecting market growth. Semi-submersibles have the highest growth rate, and are the most preferred rigs deployed for drilling. They are operational at water depths up...
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