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Procurement Market Intelligence Report

Drilling Rigs
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Drilling Rigs?

What is the average price of Drilling Rigs?

This procurement report includes pricing information to help you purchase Drilling Rigs. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Drilling Rigs been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Drilling Rigs yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Drilling Rigs?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Drilling Rigs with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Drilling Rigs?

The market share concentration for drilling rigs is moderate because the top four vendors account for between 30.0% and 50.0% of rig sales. The level of market share concentration has slowly inched upward in the past three years due to some merger and acquisition activity, including the 2017 acquisition of... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Competition

What is your reputation like among competitors and customers and how have you developed it?

How do your research and development expenses compare to those of your competitors?

How do you stay competitive in the market?

What advantages do your drilling rigs have over those of your competitors?

Service & Maintenance

Do you offer maintenance and repair services? If not, can the service be included at an additional cost?

How quickly can your technicians be on site if technical support or repair is required?

Do you have a buyback program? If so, what are the terms of the program?

What is the anticipated useful life of your rigs? Are there any instances or circumstances that would significantly reduce the useful life?

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Key elements for every RFP

What should my Drilling Rigs RFP include?

Project Budget

Buyers should specify their total budget.

Buyers should specify the desired payment terms.

Selection Criteria

Buyers should ensure that the supplier has an inventory of drilling rigs that meets their specifications.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers should specify the date proposals are due and when the award will be announced.

Buyers should specify the desired delivery date for the rig(s).

Evaluate major factors to mitigate risk

How risky is the Drilling Rigs supply chain?

The supply chain risk for drilling rigs is moderate, somewhat challenging buyer negotiation power. Drilling rigs consist of many parts and components, including drill pipes, fuel tanks, accumulators and blowout preventers, although specific inputs vary depending on the type of the rig. As such, the key suppliers of first tier... Subscribe to learn more.

HIGH

MEDIUM

LOW