Mining, Oil & Gas Products & Services

Drilling Rigs: Market Size, Growth & Forecast to 2030

The Drilling Rigs market is valued at about $142 billion (2026) and is projected to grow at a 5.2% CAGR through 2030. The largest cost driver is Raw Materials and Carbon Steel (35% of spend). North America leads demand at 35%.

Market size
$142.0 bn (2026)
CAGR to 2030
+5.2%
Buyer power
Favours buyers
Tracked suppliers
45

Projected market growth to 2030

Market size index, 2026 = 100, at the 5.2% CAGR.

1291191101001002026105.22027110.72028116.42029122.52030128.82031

Cost structure

Raw Materials and Carbon Steel
35%
Labor and Technical Engineering
30%
Equipment and Fluid Systems Maintenance
15%
Overhead and Macroeconomic Volatility Buffer
11%
Logistics and Regional Deployment
9%

Regional demand split

North America demand
35%
Middle East & Africa demand
25%
Asia Pacific demand
15%
Latin America demand
15%
Rest of world demand
10%

Key suppliers

TransoceanNabors Industries, Ltd.Helmerich & PayneValarisNoble CorporationPatterson-UTI
Read the full Drilling Rigs report →

Claight market analysis of proprietary and public data. Full report: /category-intelligence/drilling-rigs