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Global Deepwater Hydrocarbon Exploration Market Size, Status, and Forecast 2029. In-depth research accumulated to offer Latest insights about acute features of the global Deepwater Hydrocarbon Exploration market. This report provides a detailed overview of key factors in the Deepwater Hydrocarbon Exploration Market and factors such as driver, restraint, past and current trends, regulatory scenarios and technology development. The impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Deepwater Hydrocarbon Exploration in a special period. This report also compares the markets of Pre COVID-19 and Post COVID-19. In addition, research considers the impact of COVID-19 on the regional economy.
Data Bridge Market Research analyses that the deepwater hydrocarbon exploration market was valued at USD 10.10 billion in 2021 and is expected to reach USD 18.97 billion by 2029, registering a CAGR of 8.20% during the forecast period of 2022 to 2029.
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Some of the major players operating in the Deepwater Hydrocarbon Exploration market
Oceaneering International, In (U.S.), Transocean Ltd. (Switzerland), Seadrill Limited (Bermuda), Noble Corporation (U.K.), Valaris Limited (U.K.), Saipem SpA (Italy), Sapura Energy Berhad (Malaysia), Nabors Industries Ltd. (Bermuda), Shelf Drilling Ltd (UAE), Aker Solutions (Norway), CGG (France), MODEC, INC. (Japan), PGS (Norway), SBM Offshore (Netherland), Shell plc (U.K.), Subsea 7S.A. (U.K.), CNOOC Limited (China), SeaBird Exploration (Cyprus), Petroliam Nasional Berhad (PETRONAS) (Malaysia), among others.
Global Deepwater Hydrocarbon Exploration Market Scope
Service
Depth
Drilling Rigs
Drivers
In every end user industry, industrial automation has changed their corporate operations. The oil and gas industry is witnessing an increase in automated drilling. Numerous industrial control systems and automation technologies, such as DCS, PLC, SCADA, and HMI, play a vital role in improving dependability and enhancing manufacturing processes by reducing human error. Computer-controlled operations and robotic drilling machines have also aided to improve worker safety in the drilling sector. Government agencies such as ISOs, and utility operators have all conveyed an extreme interest in the advances in record management and security of essential data in the energy industry
Moreover, increasing investment in the respective projects and rise in the number of research and development projects to explore other unconventional hydrocarbon deepwater sources influence the growth of the deepwater hydrocarbon exploration market. Also, the increasing population and high consumption of energy positively affects the deepwater hydrocarbon exploration market.
Deepwater Hydrocarbon Exploration Market Country Level Analysis
Deepwater Hydrocarbon Exploration market is analyzed and market size, volume information is provided by country, site location and foundation type as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the deepwater hydrocarbon exploration market in terms of revenue and market share, owing to most of the deepwater activity identified in the North Sea region and the Gulf of Mexico. Additionally, growing technological advancements and increasing oil and natural gas production will propel the market growth in the region. Asia Pacific is expected to develop the fastest during the forecast period 2022-2029 owing to increasing investment in production and exploration industries. Additionally, increasing drilling activity and favorable government policies will boost the market growth in the region.
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