Robotic Drilling Market 2019 Global Analysis, Size, Share, Industry Trends, Investments, Emerging Technologies, Key Players, Merger, Acquisitions, With Regional Outlook To 2023

Robotic Drilling Market 2019 Global Analysis, Size, Share, Industry Trends, Investments, Emerging Technologies, Key Players, Merger, Acquisitions, With Regional Outlook To 2023

“\”\’Robotic Drilling Market\”\””
According to the latest report “Robotic Drilling Market by Installation Type (Retrofit, New Builds, and Others), Component (Hardware, Software), Application (Onshore, Offshore), and Region (North America, Europe, Asia-Pacific, Middle East & Africa, & South America) with Forecast To 2023, published by Market Research Future, Global Robotic Drilling Market Forecasted to Touch $45.6 Bn by 2023. The global robotic drilling market is slated to appreciate at a CAGR of 7.2% and reach an approximate value of USD 940 Bn

Robotic Drilling Market Highlights:

The report includes profiles of various key competitors including noted market players such as Sekal, Odfjell Drilling, Ensign Energy Services, Huisman Equipments, Nabors – Rds, Automated Rig Technologies, Drillmec, Weatherford International, National Oilwell Varco, and Rigarm.

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Robotic Drilling Market Drivers and Restraints:

The demand for oil & gas has been unceasing. Rising demand for automotive vehicles, power generation and other end-uses for fossil fuel have greatly influenced an increase in drilling for oil & gas, with robotic drilling taking the spotlight due to the high demand for efficiency. The global robotic drilling market is slated to appreciate at a CAGR of 7.2% during the forecast period from 2018 to 2023. In 2017, the market generated a market value of USD 650 Bn and will continue to grow to reach an approximate value of USD 940 Bn by the end of 2023.

Demand for oil & gas in a largely fossil-fuel dependent global scenario has been growing at a rapid pace due to rising populations and the growth of urbanization. This has resulted in an increase in drilling activities. Use of robotic drilling systems reduces the overall involvement of people in unsafe drilling operations. Remote controlling of robotic drilling reduces human error as well as increases safety in drilling operations while improving time efficiency, thus driving the demand for robotic drilling. Notably, safety regulations are becoming stricter, and as such, the increased demand for safety on oil rigs has increased the adoption of robotic drilling. Moreover, deep-water exploration has increased the demand for robotic drilling as deep-water pressure is highly dangerous and expensive for manned operations.

Presently, a dearth of interoperability of rig control systems challenges the growth of the market. However, the development of software used in robotic drilling systems is likely to mitigate this in the coming years. Moreover, robotic drilling has several opportunities on the horizon which are projected to assist market growth in the near future. Increasing deepwater exploration activities are expected to increase adoption as manned operations in deep water is highly unsafe.

Global Robotic Drilling Market Segments Analysis:

Segmentation of the global robotic drilling market in MRFR’s report has been done on the basis of installation type, component, application, and region. Installation types of robotic drills have been segmented into retrofit and new builds. Between these, the retrofit segment has established itself as the key segment with both the largest share of the market as well as highest CAGR over the review period.

Components of robotic drilling systems have been segmented into hardware and software. The hardware segment has captured the most sizable share of the market. However, the software segment is set to grow at a rapid pace and contend for the leadership position in the coming years.

Applications of robotic drilling have been segmented into offshore, and onshore. Onshore applications are growing at a formidable pace, making the segment the most significant as well as the fastest growing one.

Global Robotic Drilling Market Regional Analysis:

North America is one of the most significant consumers of oil and market players in the region have been conducting exploration activities for a long time in an effort to build reserves. Moreover, the presence of well-developed infrastructure and developed countries such as the U.S and Canada combined with a high number of motor vehicles has stressed the increasing demand for fossil fuels.

The U.S also homes the Permian Basin which is a massive sedimentary basin with large reserves of oil. Increasing onshore oil & gas exploration activities are expected to increase the adoption of robotic drilling. The North American market for robotic drilling is both the most significant among all regions and the fastest growing market.

TABLE OF CONTENTS:

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATIONS

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1 PORTER’S FIVE FORCES ANALYSIS

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 BARGAINING POWER OF SUPPLIERS

3.1.4 THREAT OF SUBSTITUTES

3.1.5 SEGMENT RIVALRY

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

Continued…

LIST OF TABLES:

TABLE 1 MARKET SYNOPSIS

TABLE 2 LIST OF ASSUMPTIONS

TABLE 3 EUROPE AIR QUALITY STANDARDS

TABLE 4 GLOBAL ROBOTIC DRILLING MARKET, BY INSTALLATION TYPE, 2018-2023 (USD MILLION)

TABLE 5 GLOBAL ROBOTIC DRILLING MARKET, BY COMPONENT, 2018-2023 (USD MILLION)

TABLE 6 GLOBAL ROBOTIC DRILLING MARKET, BY APPLICATION, 2018-2023 (USD MILLION)

TABLE 7 GLOBAL ROBOTIC DRILLING MARKET, BY REGION, 2018-2023 (USD MILLION)

TABLE 8 NORTH AMERICA: ROBOTIC DRILLING MARKET, BY COUNTRY, 2018-2023 (USD MILLION)

TABLE 9 NORTH AMERICA: ROBOTIC DRILLING MARKET, BY INSTALLATION TYPE, 2018-2023 (USD MILLION)

TABLE 10 NORTH AMERICA: ROBOTIC DRILLING MARKET, BY COMPONENT, 2018-2023 (USD MILLION)

Continued…

LIST OF FIGURES:

FIGURE 1 GLOBAL ROBOTIC DRILLING MARKET: MARKET STRUCTURE

FIGURE 2 RESEARCH PROCESS OF MRFR

FIGURE 3 TOP DOWN & BOTTOM UP APPROACH

FIGURE 4 DRO ANALYSIS OF GLOBAL ROBOTIC DRILLING MARKET

FIGURE 5 DRIVERS IMPACT ANALYSIS: ROBOTIC DRILLING MARKET

FIGURE 6 RESTRAINTS IMPACT ANALYSIS: ROBOTIC DRILLING MARKET

FIGURE 7 VALUE CHAIN: ROBOTIC DRILLING MARKET

FIGURE 8 PORTER’S 5 FORCES ANALYSIS

FIGURE 9 GLOBAL ROBOTIC DRILLING MARKET, BY PRODUCT, 2017 (% SHARE)

Continued…

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