Offshore Rig Inspection Services Market by Rig Type (Jack up Rig, Semi-Submersible Rig, Drill Ship) by Inspection Type (Rig Selection Inspection, Rig Condition and Acceptance Inspection, Rig Compliance Inspection, Rig Reactivation Inspection, Rig Performance Monitoring Inspection) by Application (Shallow Water, Deep Water, Ultra-Deep Water) by Region (Asia Pacific, Europe, North America, South America, Middle East & Africa) - Global Trends and Forecast to 2030
Offshore rigs are large, complex, integrated machinery and infrastructure used in oil exploration, drilling, and production that require complex daily management and maintenance to ensure they function properly. During the commissioning phase, drilling rigs undergo acceptance tests. These tests typically include inspection of critical systems such as prime movers that generate power for the rig, ground testing of the rig, verification of control systems to prevent blowouts, pressure testing for stack acceptance, and many other detailed audits. Periodic plant inspections are required during operation to ensure that equipment, processes, and personnel are compliant and minimum performance standards are met. As wear & tear and corrosion can cause equipment to malfunction resulting in downtime, loss of productivity, and increased safety risks.
The offshore rig inspection services market based on rig type have been categorized as jack up rig, semi-submersible rig, and drill ships. Jack up rigs are majorly used in shallow waters as these rigs are fixed on the seabed and can withstand storm conditions. Semi-Submersible rigs are used in deep water as it provides a stable drilling platform in deep water situations. These rigs move with the tide, so the drilling penetration rate must be corrected for the influence of the tidal heave. Drill ships are preferred for drilling in deep waters; these rigs are self-propelled and can carry larger loads of drilling supplies. Drill ships are greatly affected by wave motion and drifting. So, it requires a motion compensation system and a marine riser system for dynamic positioning. These rigs must undergo inspections regulated by the port of registry and local flag state regulations.
Based on inspection type, the offshore rig inspection services market has been categorized as rig selection inspection, rig condition and acceptance inspection, rig compliance inspection, rig reactivation inspection, and rig performance monitoring inspection. Rig selection inspection service, also referred to as pre-tender rig inspections, eliminates the time required to validate tendered rigs for drilling campaigns. Rig condition & acceptance inspection provides the operators with an in-depth report on the state of the rig's maintenance. This service includes the inspection of all the equipment that are expected to cause operational downtime due to mechanical failure. Whereas the rig reactivation inspection helps maximize the return on investment in making the drilling unit ready to go on time and within budget.
The offshore rig inspection services market based on applications include shallow water, deep water, and ultra-deep water. The shallow oil & gas rigs operate at an average depth of 125 meters. The shallow wells have been drilled since the last century, and most rigs in these regions require intervention/inspection operations. The deep water oil & gas rigs operate at an average depth of 125 to 1,200 meters, whereas oil & gas rigs operating at 1,500 meters are considered ultra-deep water rigs. Ultra-deep water location has a challenging operational environment, which drives the demand for rig inspection services to avoid downtime. Further, the ultra-deep water discoveries in the Gulf of Mexico, Persian Gulf, and North Sea are expected to drive the demand for rig inspection services.
The offshore rig inspection services market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The North American drilling market is expected to increase by ~16% during 2022 in Canada and Mexico, which is expected to drive the demand for rig inspection services. Whereas the drilling activities in Europe will increase by ~12% in 2022. Countries in Europe are focusing on expanding natural gas export infrastructure. Especially the drilling activities in Russia are expected to increase by ~16% in 2022. Similarly, in Asia Pacific, China's national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over USD 120 billion on drilling and well services by 2025.
A few of the major players operating in the offshore rig inspection services market include Athens Group (US), Hose International Ltd (UK), A-Star Testing & Inspection (Singapore), MODU Resources (Singapore), ABL Group (UK), and Applus+ (Spain) among others.
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TABLE OF CONTENTS
1 INTRODUCTION
1.1. STUDY OBJECTIVES
1.2. MARKET DEFINITION
1.3. INCLUSIONS AND EXCLUSIONS
1.4. MARKET SCOPE
1.4.1. MARKET SEGMENTATION
1.4.2. REGIONAL SCOPE
1.5. YEARS CONSIDERED
1.6. CURRENCY
1.7. LIMITATIONS
1.8. STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1. RESEARCH DATA
2.2. MARKET BREAKDOWN AND DATA TRIANGULATION
2.2.1. SECONDARY DATA
2.2.1.1. KEY DATA FROM SECONDARY SOURCES
2.2.2. PRIMARY DATA
2.2.2.1. KEY DATA FROM PRIMARY SOURCES
2.2.2.2. KEY INDUSTRY INSIGHTS
2.2.2.3. BREAKDOWN OF PRIMARY INTERVIEWS
2.3. SCOPE
2.4. MARKET SIZE ESTIMATION
2.4.1. BOTTOM-UP APPROACH
2.4.2. TOP-DOWN APPROACH
2.4.3. DEMAND SIDE ANALYSIS
2.4.3.1. ASSUMPTIONS FOR DEMAND SIDE ANALYSIS
2.4.3.2. DEMAND SIDE CALCULATION
2.4.4. SUPPLY-SIDE ANALYSIS
2.4.4.1. ASSUMPTIONS FOR SUPPLY SIDE ANALYSIS
2.4.4.2. SUPPLY-SIDE CALCULATION
2.5. FORECAST
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
5.1. INTRODUCTION
5.2. MARKET DYNAMICS
5.2.1. DRIVERS
5.2.2. RESTRAINTS
5.2.3. OPPORTUNITIES
5.2.4. CHALLENGES
5.3. TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
5.4. VALUE/SUPPLY CHAIN ANALYSIS
5.5. TECHNOLOGY ANALYSIS
5.6. PATENT ANALYSIS
5.7. TARIFF, CODES & REGULATIONS
5.7.1. REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
5.7.2. REGULATORY FRAME
5.8. PORTER’S FIVE FORCE ANALYSIS
5.9. CASE STUDY ANALYSIS
5.10. KEY STAKEHOLDERS AND BUYING CRITERIA
5.10.1. KEY STAKEHOLDERS IN BUYING PROCESS
5.10.2. BUYING CRITERIA
5.11. KEY CONFERENCES AND EVENTS
6 OFFSHORE RIG INSPECTION SERVICES MARKET, BY RIG TYPE
(Value (USD Million) - 2020, 2021, 2022-e, 2030-f)
6.1. INTRODUCTION
6.2. JACK UP RIG
6.3. SEMI-SUBMERSIBLE RIG
6.4. DRILL SHIP
7 OFFSHORE RIG INSPECTION SERVICES MARKET, BY INSPECTION TYPE
(Value (USD Million) -2020, 2021 2022-e, 2030-f)
7.1. INTRODUCTION
7.2. RIG SELECTION INSPECTION
7.3. RIG CONDITION AND ACCEPTANCE INSPECTION
7.3.1. DRILLING EQUIPMENT
7.3.2. WELL CONTROL EQUIPMENT
7.3.3. ELECTRICAL EQUIPMENT
7.3.4. BARGE EQUIPMENT
7.3.5. ENGINE-ROOM EQUIPMENT
7.3.6. SAFETY INSPECTION
7.4. RIG COMPLIANCE INSPECTION
7.5. RIG REACTIVATION INSPECTION
7.6. RIG PERFORMANCE MONITORING INSPECTION
8 OFFSHORE RIG INSPECTION SERVICES MARKET, BY APPLICATION
(Value (USD Million) - 2020, 2021, 2022-e, 2030-f)
8.1. INTRODUCTION
8.2. SHALLOW WATER
8.3. DEEP WATER
8.4. ULTRA-DEEP WATER
9 OFFSHORE RIG INSPECTION SERVICES MARKET, BY REGION
(Value (USD Million) - 2020, 2021, 2022-e, 2030-f)
9.1. INTRODUCTION
9.2. ASIA PACIFIC
9.2.1. BY RIG TYPE
9.2.2. BY INSPECTION TYPE
9.2.3. BY APPLICATION
9.2.4. BY COUNTRY
9.3. NORTH AMERICA
9.3.1. BY RIG TYPE
9.3.2. BY INSPECTION TYPE
9.3.3. BY APPLICATION
9.3.4. BY COUNTRY
9.4. EUROPE
9.4.1. BY RIG TYPE
9.4.2. BY INSPECTION TYPE
9.4.3. BY APPLICATION
9.4.4. BY COUNTRY
9.5. SOUTH AMERICA
9.5.1. BY RIG TYPE
9.5.2. BY INSPECTION TYPE
9.5.3. BY APPLICATION
9.5.4. BY COUNTRY
9.6. MIDDLE EAST & AFRICA
9.6.1. BY RIG TYPE
9.6.2. BY INSPECTION TYPE
9.6.3. BY APPLICATION
9.6.4. BY COUNTRY
10 COMPETITIVE LANDSCAPE
10.1. KEY PLAYER STRATEGIES OVERVIEW
10.2. MARKET SHARE (BY REVENUE), 2021
10.3. REVENUE ANALYSIS OF TOP 5 PLAYERS, 2017-2021
10.4. COMPANY EVALUATION MATRIX/QUADRANT
10.4.1. STARS
10.4.2. PERVASIVE PLAYERS
10.4.3. EMERGING LEADERS
10.4.4. PARTICIPANTS
10.5. COMPETITIVE BENCHMARKING
10.6. OFFSHORE RIG INSPECTION SERVICES MARKET: COMPANY FOOTPRINT
10.7. COMPETITIVE SCENARIO
11 COMPANY PROFILES
11.1. KEY PLAYERS
11.2. ATHENS GROUP
11.2.1. Business Overview
11.2.2. Products Offered
11.2.3. Recent Developments
11.2.4. MnM view
11.2.4.1. Key strategies/Right to win
11.2.4.2. Strategic choices made
11.2.4.3. Weaknesses/Competitive threats
11.3. HOSE INTERNATIONAL LTD
11.4. A-STAR TESTING & INSPECTION
11.5. MODU RESOURCES
11.6. ABL GROUP
11.7. APPLUS+
11.8. OCS GROUP
11.9. OPS-OILFIELD EQUIPMENT & SERVICES LTD.
11.10. GAMMA PETROLEUM SERVICES
11.11. ADC ENERGY LTD
11.12. NOV INC.
11.13. INSPECTION TECHNOLOGY CO.
11.14. SRINEXT
12 APPENDIX
12.1. INSIGHTS OF INDUSTRY EXPERTS
12.2. DISCUSSION GUIDE
12.3. KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
12.4. CUSTOMIZATION OPTIONS
12.5. RELATED REPORTS
12.6. AUTHOR DETAILS
Note: e-Estimated, f-Forecast
* Additional Segments, Countries and Companies may be added during the course of the study
*Company revenues will be provided for three years (including the base year). The base year used for company profiles will be 2021. Wherever information is unavailable for the base year, the previous year data will be considered.
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
Growth opportunities and latent adjacency in Offshore Rig Inspection Services Market