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Analyzing COVID-19 Impact on Offshore Drilling Market | $ 7.04 Bn Growth Expected Between 2021-2025


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NEW YORK, April 29, 2021 /PRNewswire/ The offshore drilling market is expected to grow by USD 7.04 billion, progressing at a CAGR of over 4% during the forecast period.
Offshore Drilling Market by Application and Geography - Forecast and Analysis 2021-2025
The growth in demand for oil and natural gas is one of the major factors propelling the market growth. However, fluctuations in the price of crude oil might hamper the market growth.
Offshore Drilling Market: Application Landscape
Based on the application, the market witnessed maximum growth in the shallow water offshore drilling segment. The segment is driven by the less complex nature of shallow water offshore drilling compared to deepwater and ultra-deepwater, which results in better safety and economic viability. The market growth in the segment will be significant during the forecast period. ....

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