Report Detail

Machinery & Equipment Global Semi-Submersible Drilling Rig Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

  • RnM4634154
  • |
  • 17 October, 2025
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  • Global
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  • 130 Pages
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  • GIR
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  • Machinery & Equipment

According to our (Global Info Research) latest study, the global Semi-Submersible Drilling Rig market size was valued at US$ million in 2024 and is forecast to a readjusted size of USD million by 2031 with a CAGR of %during review period.
In this report, we will assess the current U.S. tariff framework alongside international policy adaptations, analyzing their effects on competitive market structures, regional economic dynamics, and supply chain resilience.
A Semi-Submersible Drilling Rig is a type of offshore drilling platform used primarily for deepwater oil and gas exploration and production. It floats on partially submerged pontoons, providing excellent stability in rough seas and making it ideal for operating in deep or ultra-deep waters. These rigs can either be moored to the seafloor or dynamically positioned using thrusters to stay in place. Semi-submersible rigs are versatile, offering advantages for drilling, exploration, and even production in harsh offshore environments, where fixed platforms are impractical.
This report is a detailed and comprehensive analysis for global Semi-Submersible Drilling Rig market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.
Key Features:
Global Semi-Submersible Drilling Rig market size and forecasts, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Semi-Submersible Drilling Rig market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Semi-Submersible Drilling Rig market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K Units), and average selling prices (US$/Unit), 2020-2031
Global Semi-Submersible Drilling Rig market shares of main players, shipments in revenue ($ Million), sales quantity (K Units), and ASP (US$/Unit), 2020-2025
The Primary Objectives in This Report Are:
To determine the size of the total market opportunity of global and key countries
To assess the growth potential for Semi-Submersible Drilling Rig
To forecast future growth in each product and end-use market
To assess competitive factors affecting the marketplace
This report profiles key players in the global Semi-Submersible Drilling Rig market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Transocean, Keppel Offshore & Marine, Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, Sembcorp Marine, Noble Corporation, COSCO, CNOOC, Odfjell Drilling, Seadrill, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Market Segmentation
Semi-Submersible Drilling Rig market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.
Market segment by Type
Bottle-type Semisubs
Column-stabilized Semisubs
Market segment by Application
Offshore Oil and Gas Exploration and Exploitation
Offshore Wind Industry
Others
Major players covered
Transocean
Keppel Offshore & Marine
Hyundai Heavy Industries
Daewoo Shipbuilding & Marine Engineering
Sembcorp Marine
Noble Corporation
COSCO
CNOOC
Odfjell Drilling
Seadrill
Stena Drilling
Saipem
Diamond Offshore
Moss Maritime
Monitor Systems
Aker Solutions
Petrobras
Maersk Drilling
Northern Offshore
Gulf Piping
Market segment by region, regional analysis covers
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
The content of the study subjects, includes a total of 15 chapters:
Chapter 1, to describe Semi-Submersible Drilling Rig product scope, market overview, market estimation caveats and base year.
Chapter 2, to profile the top manufacturers of Semi-Submersible Drilling Rig, with price, sales quantity, revenue, and global market share of Semi-Submersible Drilling Rig from 2020 to 2025.
Chapter 3, the Semi-Submersible Drilling Rig competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.
Chapter 4, the Semi-Submersible Drilling Rig breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.
Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.
Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Semi-Submersible Drilling Rig market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.
Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.
Chapter 13, the key raw materials and key suppliers, and industry chain of Semi-Submersible Drilling Rig.
Chapter 14 and 15, to describe Semi-Submersible Drilling Rig sales channel, distributors, customers, research findings and conclusion.


1 Market Overview

  • 1.1 Product Overview and Scope
  • 1.2 Market Estimation Caveats and Base Year
  • 1.3 Market Analysis by Type
    • 1.3.1 Overview: Global Semi-Submersible Drilling Rig Consumption Value by Type: 2020 Versus 2024 Versus 2031
    • 1.3.2 Bottle-type Semisubs
    • 1.3.3 Column-stabilized Semisubs
  • 1.4 Market Analysis by Application
    • 1.4.1 Overview: Global Semi-Submersible Drilling Rig Consumption Value by Application: 2020 Versus 2024 Versus 2031
    • 1.4.2 Offshore Oil and Gas Exploration and Exploitation
    • 1.4.3 Offshore Wind Industry
    • 1.4.4 Others
  • 1.5 Global Semi-Submersible Drilling Rig Market Size & Forecast
    • 1.5.1 Global Semi-Submersible Drilling Rig Consumption Value (2020 & 2024 & 2031)
    • 1.5.2 Global Semi-Submersible Drilling Rig Sales Quantity (2020-2031)
    • 1.5.3 Global Semi-Submersible Drilling Rig Average Price (2020-2031)

2 Manufacturers Profiles

  • 2.1 Transocean
    • 2.1.1 Transocean Details
    • 2.1.2 Transocean Major Business
    • 2.1.3 Transocean Semi-Submersible Drilling Rig Product and Services
    • 2.1.4 Transocean Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.1.5 Transocean Recent Developments/Updates
  • 2.2 Keppel Offshore & Marine
    • 2.2.1 Keppel Offshore & Marine Details
    • 2.2.2 Keppel Offshore & Marine Major Business
    • 2.2.3 Keppel Offshore & Marine Semi-Submersible Drilling Rig Product and Services
    • 2.2.4 Keppel Offshore & Marine Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.2.5 Keppel Offshore & Marine Recent Developments/Updates
  • 2.3 Hyundai Heavy Industries
    • 2.3.1 Hyundai Heavy Industries Details
    • 2.3.2 Hyundai Heavy Industries Major Business
    • 2.3.3 Hyundai Heavy Industries Semi-Submersible Drilling Rig Product and Services
    • 2.3.4 Hyundai Heavy Industries Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.3.5 Hyundai Heavy Industries Recent Developments/Updates
  • 2.4 Daewoo Shipbuilding & Marine Engineering
    • 2.4.1 Daewoo Shipbuilding & Marine Engineering Details
    • 2.4.2 Daewoo Shipbuilding & Marine Engineering Major Business
    • 2.4.3 Daewoo Shipbuilding & Marine Engineering Semi-Submersible Drilling Rig Product and Services
    • 2.4.4 Daewoo Shipbuilding & Marine Engineering Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.4.5 Daewoo Shipbuilding & Marine Engineering Recent Developments/Updates
  • 2.5 Sembcorp Marine
    • 2.5.1 Sembcorp Marine Details
    • 2.5.2 Sembcorp Marine Major Business
    • 2.5.3 Sembcorp Marine Semi-Submersible Drilling Rig Product and Services
    • 2.5.4 Sembcorp Marine Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.5.5 Sembcorp Marine Recent Developments/Updates
  • 2.6 Noble Corporation
    • 2.6.1 Noble Corporation Details
    • 2.6.2 Noble Corporation Major Business
    • 2.6.3 Noble Corporation Semi-Submersible Drilling Rig Product and Services
    • 2.6.4 Noble Corporation Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.6.5 Noble Corporation Recent Developments/Updates
  • 2.7 COSCO
    • 2.7.1 COSCO Details
    • 2.7.2 COSCO Major Business
    • 2.7.3 COSCO Semi-Submersible Drilling Rig Product and Services
    • 2.7.4 COSCO Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.7.5 COSCO Recent Developments/Updates
  • 2.8 CNOOC
    • 2.8.1 CNOOC Details
    • 2.8.2 CNOOC Major Business
    • 2.8.3 CNOOC Semi-Submersible Drilling Rig Product and Services
    • 2.8.4 CNOOC Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.8.5 CNOOC Recent Developments/Updates
  • 2.9 Odfjell Drilling
    • 2.9.1 Odfjell Drilling Details
    • 2.9.2 Odfjell Drilling Major Business
    • 2.9.3 Odfjell Drilling Semi-Submersible Drilling Rig Product and Services
    • 2.9.4 Odfjell Drilling Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.9.5 Odfjell Drilling Recent Developments/Updates
  • 2.10 Seadrill
    • 2.10.1 Seadrill Details
    • 2.10.2 Seadrill Major Business
    • 2.10.3 Seadrill Semi-Submersible Drilling Rig Product and Services
    • 2.10.4 Seadrill Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.10.5 Seadrill Recent Developments/Updates
  • 2.11 Stena Drilling
    • 2.11.1 Stena Drilling Details
    • 2.11.2 Stena Drilling Major Business
    • 2.11.3 Stena Drilling Semi-Submersible Drilling Rig Product and Services
    • 2.11.4 Stena Drilling Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.11.5 Stena Drilling Recent Developments/Updates
  • 2.12 Saipem
    • 2.12.1 Saipem Details
    • 2.12.2 Saipem Major Business
    • 2.12.3 Saipem Semi-Submersible Drilling Rig Product and Services
    • 2.12.4 Saipem Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.12.5 Saipem Recent Developments/Updates
  • 2.13 Diamond Offshore
    • 2.13.1 Diamond Offshore Details
    • 2.13.2 Diamond Offshore Major Business
    • 2.13.3 Diamond Offshore Semi-Submersible Drilling Rig Product and Services
    • 2.13.4 Diamond Offshore Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.13.5 Diamond Offshore Recent Developments/Updates
  • 2.14 Moss Maritime
    • 2.14.1 Moss Maritime Details
    • 2.14.2 Moss Maritime Major Business
    • 2.14.3 Moss Maritime Semi-Submersible Drilling Rig Product and Services
    • 2.14.4 Moss Maritime Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.14.5 Moss Maritime Recent Developments/Updates
  • 2.15 Monitor Systems
    • 2.15.1 Monitor Systems Details
    • 2.15.2 Monitor Systems Major Business
    • 2.15.3 Monitor Systems Semi-Submersible Drilling Rig Product and Services
    • 2.15.4 Monitor Systems Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.15.5 Monitor Systems Recent Developments/Updates
  • 2.16 Aker Solutions
    • 2.16.1 Aker Solutions Details
    • 2.16.2 Aker Solutions Major Business
    • 2.16.3 Aker Solutions Semi-Submersible Drilling Rig Product and Services
    • 2.16.4 Aker Solutions Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.16.5 Aker Solutions Recent Developments/Updates
  • 2.17 Petrobras
    • 2.17.1 Petrobras Details
    • 2.17.2 Petrobras Major Business
    • 2.17.3 Petrobras Semi-Submersible Drilling Rig Product and Services
    • 2.17.4 Petrobras Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.17.5 Petrobras Recent Developments/Updates
  • 2.18 Maersk Drilling
    • 2.18.1 Maersk Drilling Details
    • 2.18.2 Maersk Drilling Major Business
    • 2.18.3 Maersk Drilling Semi-Submersible Drilling Rig Product and Services
    • 2.18.4 Maersk Drilling Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.18.5 Maersk Drilling Recent Developments/Updates
  • 2.19 Northern Offshore
    • 2.19.1 Northern Offshore Details
    • 2.19.2 Northern Offshore Major Business
    • 2.19.3 Northern Offshore Semi-Submersible Drilling Rig Product and Services
    • 2.19.4 Northern Offshore Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.19.5 Northern Offshore Recent Developments/Updates
  • 2.20 Gulf Piping
    • 2.20.1 Gulf Piping Details
    • 2.20.2 Gulf Piping Major Business
    • 2.20.3 Gulf Piping Semi-Submersible Drilling Rig Product and Services
    • 2.20.4 Gulf Piping Semi-Submersible Drilling Rig Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
    • 2.20.5 Gulf Piping Recent Developments/Updates

3 Competitive Environment: Semi-Submersible Drilling Rig by Manufacturer

  • 3.1 Global Semi-Submersible Drilling Rig Sales Quantity by Manufacturer (2020-2025)
  • 3.2 Global Semi-Submersible Drilling Rig Revenue by Manufacturer (2020-2025)
  • 3.3 Global Semi-Submersible Drilling Rig Average Price by Manufacturer (2020-2025)
  • 3.4 Market Share Analysis (2024)
    • 3.4.1 Producer Shipments of Semi-Submersible Drilling Rig by Manufacturer Revenue ($MM) and Market Share (%): 2024
    • 3.4.2 Top 3 Semi-Submersible Drilling Rig Manufacturer Market Share in 2024
    • 3.4.3 Top 6 Semi-Submersible Drilling Rig Manufacturer Market Share in 2024
  • 3.5 Semi-Submersible Drilling Rig Market: Overall Company Footprint Analysis
    • 3.5.1 Semi-Submersible Drilling Rig Market: Region Footprint
    • 3.5.2 Semi-Submersible Drilling Rig Market: Company Product Type Footprint
    • 3.5.3 Semi-Submersible Drilling Rig Market: Company Product Application Footprint
  • 3.6 New Market Entrants and Barriers to Market Entry
  • 3.7 Mergers, Acquisition, Agreements, and Collaborations

4 Consumption Analysis by Region

  • 4.1 Global Semi-Submersible Drilling Rig Market Size by Region
    • 4.1.1 Global Semi-Submersible Drilling Rig Sales Quantity by Region (2020-2031)
    • 4.1.2 Global Semi-Submersible Drilling Rig Consumption Value by Region (2020-2031)
    • 4.1.3 Global Semi-Submersible Drilling Rig Average Price by Region (2020-2031)
  • 4.2 North America Semi-Submersible Drilling Rig Consumption Value (2020-2031)
  • 4.3 Europe Semi-Submersible Drilling Rig Consumption Value (2020-2031)
  • 4.4 Asia-Pacific Semi-Submersible Drilling Rig Consumption Value (2020-2031)
  • 4.5 South America Semi-Submersible Drilling Rig Consumption Value (2020-2031)
  • 4.6 Middle East & Africa Semi-Submersible Drilling Rig Consumption Value (2020-2031)

5 Market Segment by Type

  • 5.1 Global Semi-Submersible Drilling Rig Sales Quantity by Type (2020-2031)
  • 5.2 Global Semi-Submersible Drilling Rig Consumption Value by Type (2020-2031)
  • 5.3 Global Semi-Submersible Drilling Rig Average Price by Type (2020-2031)

6 Market Segment by Application

  • 6.1 Global Semi-Submersible Drilling Rig Sales Quantity by Application (2020-2031)
  • 6.2 Global Semi-Submersible Drilling Rig Consumption Value by Application (2020-2031)
  • 6.3 Global Semi-Submersible Drilling Rig Average Price by Application (2020-2031)

7 North America

  • 7.1 North America Semi-Submersible Drilling Rig Sales Quantity by Type (2020-2031)
  • 7.2 North America Semi-Submersible Drilling Rig Sales Quantity by Application (2020-2031)
  • 7.3 North America Semi-Submersible Drilling Rig Market Size by Country
    • 7.3.1 North America Semi-Submersible Drilling Rig Sales Quantity by Country (2020-2031)
    • 7.3.2 North America Semi-Submersible Drilling Rig Consumption Value by Country (2020-2031)
    • 7.3.3 United States Market Size and Forecast (2020-2031)
    • 7.3.4 Canada Market Size and Forecast (2020-2031)
    • 7.3.5 Mexico Market Size and Forecast (2020-2031)

8 Europe

  • 8.1 Europe Semi-Submersible Drilling Rig Sales Quantity by Type (2020-2031)
  • 8.2 Europe Semi-Submersible Drilling Rig Sales Quantity by Application (2020-2031)
  • 8.3 Europe Semi-Submersible Drilling Rig Market Size by Country
    • 8.3.1 Europe Semi-Submersible Drilling Rig Sales Quantity by Country (2020-2031)
    • 8.3.2 Europe Semi-Submersible Drilling Rig Consumption Value by Country (2020-2031)
    • 8.3.3 Germany Market Size and Forecast (2020-2031)
    • 8.3.4 France Market Size and Forecast (2020-2031)
    • 8.3.5 United Kingdom Market Size and Forecast (2020-2031)
    • 8.3.6 Russia Market Size and Forecast (2020-2031)
    • 8.3.7 Italy Market Size and Forecast (2020-2031)

9 Asia-Pacific

  • 9.1 Asia-Pacific Semi-Submersible Drilling Rig Sales Quantity by Type (2020-2031)
  • 9.2 Asia-Pacific Semi-Submersible Drilling Rig Sales Quantity by Application (2020-2031)
  • 9.3 Asia-Pacific Semi-Submersible Drilling Rig Market Size by Region
    • 9.3.1 Asia-Pacific Semi-Submersible Drilling Rig Sales Quantity by Region (2020-2031)
    • 9.3.2 Asia-Pacific Semi-Submersible Drilling Rig Consumption Value by Region (2020-2031)
    • 9.3.3 China Market Size and Forecast (2020-2031)
    • 9.3.4 Japan Market Size and Forecast (2020-2031)
    • 9.3.5 South Korea Market Size and Forecast (2020-2031)
    • 9.3.6 India Market Size and Forecast (2020-2031)
    • 9.3.7 Southeast Asia Market Size and Forecast (2020-2031)
    • 9.3.8 Australia Market Size and Forecast (2020-2031)

10 South America

  • 10.1 South America Semi-Submersible Drilling Rig Sales Quantity by Type (2020-2031)
  • 10.2 South America Semi-Submersible Drilling Rig Sales Quantity by Application (2020-2031)
  • 10.3 South America Semi-Submersible Drilling Rig Market Size by Country
    • 10.3.1 South America Semi-Submersible Drilling Rig Sales Quantity by Country (2020-2031)
    • 10.3.2 South America Semi-Submersible Drilling Rig Consumption Value by Country (2020-2031)
    • 10.3.3 Brazil Market Size and Forecast (2020-2031)
    • 10.3.4 Argentina Market Size and Forecast (2020-2031)

11 Middle East & Africa

  • 11.1 Middle East & Africa Semi-Submersible Drilling Rig Sales Quantity by Type (2020-2031)
  • 11.2 Middle East & Africa Semi-Submersible Drilling Rig Sales Quantity by Application (2020-2031)
  • 11.3 Middle East & Africa Semi-Submersible Drilling Rig Market Size by Country
    • 11.3.1 Middle East & Africa Semi-Submersible Drilling Rig Sales Quantity by Country (2020-2031)
    • 11.3.2 Middle East & Africa Semi-Submersible Drilling Rig Consumption Value by Country (2020-2031)
    • 11.3.3 Turkey Market Size and Forecast (2020-2031)
    • 11.3.4 Egypt Market Size and Forecast (2020-2031)
    • 11.3.5 Saudi Arabia Market Size and Forecast (2020-2031)
    • 11.3.6 South Africa Market Size and Forecast (2020-2031)

12 Market Dynamics

  • 12.1 Semi-Submersible Drilling Rig Market Drivers
  • 12.2 Semi-Submersible Drilling Rig Market Restraints
  • 12.3 Semi-Submersible Drilling Rig Trends Analysis
  • 12.4 Porters Five Forces Analysis
    • 12.4.1 Threat of New Entrants
    • 12.4.2 Bargaining Power of Suppliers
    • 12.4.3 Bargaining Power of Buyers
    • 12.4.4 Threat of Substitutes
    • 12.4.5 Competitive Rivalry

13 Raw Material and Industry Chain

  • 13.1 Raw Material of Semi-Submersible Drilling Rig and Key Manufacturers
  • 13.2 Manufacturing Costs Percentage of Semi-Submersible Drilling Rig
  • 13.3 Semi-Submersible Drilling Rig Production Process
  • 13.4 Industry Value Chain Analysis

14 Shipments by Distribution Channel

  • 14.1 Sales Channel
    • 14.1.1 Direct to End-User
    • 14.1.2 Distributors
  • 14.2 Semi-Submersible Drilling Rig Typical Distributors
  • 14.3 Semi-Submersible Drilling Rig Typical Customers

15 Research Findings and Conclusion

    16 Appendix

    • 16.1 Methodology
    • 16.2 Research Process and Data Source

    Summary:
    Get latest Market Research Reports on Semi-Submersible Drilling Rig. Industry analysis & Market Report on Semi-Submersible Drilling Rig is a syndicated market report, published as Global Semi-Submersible Drilling Rig Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031. It is complete Research Study and Industry Analysis of Semi-Submersible Drilling Rig market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.

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