The Rising Demand for Jackup Rigs Market Insights and Trends Jackup Rigs Market Overview
The jack-up rig market is expected to grow from USD 1,21,518.7 Million in 2023 to USD 1,75,601.1 Million by 2032, at a CAGR of 5.4%. Jack-up rigs are mobile offshore drilling units (MODUs) that can be raised or lowered above the sea surface using legs.
They are typically used in shallow water depths, up to 400 feet. Jack-up rigs are versatile and can be used for a...