One of the most significant factors for the growth of jackup rigs market is the increasing global demand for energy. This is due to the increased economic growth and the growing population worldwide. There has been significant investment in the oil & gas exploration activities, especially in the Middle East and Asia-Pacific regions. This has led to significant recent discoveries of oil & gas reserves in the remote areas of these regions. Furthermore, research and development in jackup rigs has resulted in technological advancements in terms of equipment for offshore drilling capacities. This in turn has resulted in jackup rigs being cost effective and more feasible for drilling operations, thus driving the market growth.

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Industry Segmentation

The market has been analyzed based on the types, applications, operating depths and regions. Among all the regions, the Asia-Pacific is expected to grow rapidly. The rapid growth in population and in demand for energy is expected to drive the growth of the jackup rigs market in the region over the forecast period. Further growth, projected for the North America and Middle East regions, is expected to drive the overall growth of the market.

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Regional Outlook

North America currently has the highest market share and is expected to drive the growth of the market, along with Europe region, due to the continuous oil and gas exploration activities. The jack up rigs market in the Gulf of Mexico is quite well established and the growing population will further raise the requirement. In the developing economies of Asia-Pacific and Middle East regions there is an increased requirement for offshore drilling market because of new discoveries of oil & gas reserves. This is expected to drive the demand for jackup rigs market.

Top Key Players

The key players of global jackup rigs markets are Rowan Companies Inc.(U.K.), Noble Corporation plc (UK), KCA DEUTAG Ltd.(Scotland), Maersk Drilling (Denmark), Diamond Offshore Drilling, Inc. (U.S), COSL (China), Transocean Ltd. (Switzerland), Seadrill Limited(Bermuda), ENSCO Plc (UK), Halliburton (U.S.) and others.

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