Albany, NY -- (SBWIRE) -- 12/17/2014 -- Demand for energy and depleting onshore reserves are forcing oil and gas companies to invest and focus on offshore drilling and production. Offshore drilling requires a huge investment and depends on the availability of offshore potential reserves. The key companies are interested to invest in offshore drilling to meet current and future demand.

Offshore drilling market can be segmented on the basis of application into shallow drilling, deep water drilling and ultra deep water drilling. This market can be further segmented on the base of services into offshore contract drilling, directional drilling and logging while drilling. The market is witnessing an increase in directional drilling.

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Offshore drilling market can be segmented based on geography into North America, Asia Pacific, Middle East, Europe, and RoW. The companies are focusing on areas where major offshore drilling activities are taking place such as the golden triangle which includes U.S. Gulf of Mexico, West Africa and Brazil.

Technological advancement, surge in ultra deep and deep water drilling, huge investment from oil and gas companies and sustaining high oil prices are driving offshore drilling market. But many of the offshore projects which are not feasible fiscally making it a biggest constraint for this market.

Some of the key players in offshore drilling market include Transocean Limited, Baker Hughes Inc, China Oil Field Services Limited, Halliburton Company, Shelf Drilling, Rowan, Seadrill limited, Maersk Drilling, Noble Drilling, Hercules Offshore, ENSCO, Diamond Offshore, Archer Limited, Aban offshore and KCA Deutag along with others.

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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include:

- North America
- Asia Pacific
- Europe
- Rest of the World

This report provides comprehensive analysis of:

- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter's five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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