The report, "Offshore Drilling Market By Services (Contract Drilling, Directional Drilling, Logging While Drilling), Applications (Shallow Water, Deepwater, Ultra-deepwater) and Geography-Global Trends & Forecasts to 2018", said the market will grow primarily due to new offshore discoveries and exponential rise in demand for energy worldwide.

The offshore drilling services market, which is growing after the slump following oil spill in the US Gulf of Mexico in 2010, includes contract drilling services, directional and logging, as well as drilling services.

The report has analysed offshore drilling services market share, value chain, Porters five force analysis, and market metrics, such as drivers, restraints, burning issues, winning imperative and opportunities.

MarketsandMarkets noted that the golden triangle, which includes Brazil, US Gulf of Mexico and West Africa, are the key markets for offshore activities.

The report said that Asia Pacific is the emerging market in terms of demand for energy and offshore drilling activities.