Market Research Future (MRFR) in its latest “Drones for Energy Industry” report states that between 2018 and 2025, the market is expected to thrive at a CAGR of 25.53% and is all set to reach a valuation of 8,390.5 million by the end of the review period.
MRFR enlisted some of the major players of the global Drones Market in Energy Sector. They are; DJI (China), AeroVironment, Inc. (US), Aibotix GmbH Limited (UK), Aeryon Labs PLC (UK), Ascending Technologies Inc. (Canada), Draganfly Innovations Inc. (US), Drone America (US), UAVision. (Canada), ING Robotic Aviation (Canada), and Microdrones (Germany).
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Drones in Energy Sector: Market Scenario
The global drones for energy market is expected to experience a speedy growth in the years to come. The rise in need to simplify complexity in inspection and monitoring of discrete and remote systems is identified as the major factor that is likely to drive the growth of the drone for energy industry market. Drones for energy market is expected to enjoy high profits, as companies are investing in UAVs services, increasing line-of-sight applications, track ocean-going ships, inspect refineries and offshore platforms, inspect wind turbine, and monitor power lines and solar panel. The growing need for energy consumption due to increase in global population and rapid industrialization are likely to fuel the growth of the drone for energy industry market. The worldwide market of drone for energy industry is expected to capitalize on multiple contributions of drones in the energy and power industry.
On the contrary, federal regulations that limit the usage of drones and lack of technologies for processing of raw data are some of the restrains on the growth of the global market of Drones in Energy Sector.
- Equipment/system suppliers
- Potential investors
- Key executive and strategy growth manager
- End users
- Technology investors
- Government institutions
- Consultancy firms
Drones in Energy Sector: Segmental Overview
The Drones Market in Energy Sector is segmented by drone type, application, and industry type.
By drone type, the market is segmented into fixed wing drone, rotary blade drone, nano drone, and hybrid drone. The fixed-wing drone segment is expected to hold command over the global Drones Market in Energy Sector. In 2018, the market held the largest share of 49.7% and by 2023, the market is expected to increase in its size and expand at a CAGR of 25.08%.
By industry type, the market is segmented into oil and gas, power and utility, and clean energy. The oil & gas segment is expected to direct the progress pattern of the market. In 2018, the segment held a share of 67.2% and is likely to value high in the years to come. The segment is expected to thrive at a CAGR of 25.03% over the review period.
By application, the market is segmented into rigs inspection, pipeline leak and spillage response, and security and surveillance.
Drones in Energy Sector: Regional Analysis
The Asia Pacific is the largest power producer of the world. The renewable energy generation in the region is high. Hence, the energy and power industry of the APAC is observed to heavily deploy drones. Drones are safe and effectively reduce inspection time. This speed up the activities concerning to the energy industry. Developing economies, such as China, India, and Japan, are estimated to grow at a high pace due to the extensive application of drones.
The drone for energy industry in North America is expected to grow at quick pace in the years of forecast. The growing rate of adoption of drones for leak and spillage detection, inspection, and surveillance activities, in the oil & gas and the power sectors is expected to propel the regional market growth. Additional causes, such as increase in inspection activities and rise in need for better maintenance and surveillance operations for power plants, oil & gas platforms, pipelines, solar plants, and wind turbines are likely to boost the market growth in North America.
The market values and forecast are derived using the Market Research Future (MRFR) research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
- Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
- Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America, along with key countries in each region
- Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
- Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
- Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
- Regional attractiveness and related growth opportunities
Browse Complete Report “Drones Market in Energy Sector Research Report Information – Global Forecast to 2025” @https://www.marketresearchfuture.com/reports/drones-energy-industry-market-3847
Table of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/value Chain Analysis
3.4 Porter’s Five Forces Analysis
List of Tables
Table 1 Global Drones Market in Energy Industry, by Industry Type
Table 2 Global Drones Market in Energy Industry, by Application
Table 3 Global Drones Market in Energy Industry, by Drone Type
Table 4 Global Drones Market in Energy Industry, by Regions
Table 5 North America Drones Market in Energy Industry, by Industry Type
Table 6 North America Drones Market in Energy Industry, by Application
List of Figures
Figure 1 Research Application
Figure 2 Global Drones Market in Energy Industry: by Industry Type (%)
Figure 3 Global Drones Market in Energy Industry: by Application (%)
Figure 4 Global Drones Market in Energy Industry: by Drone Type (%)
Figure 5 Global Drones Market in Energy Industry: by Region
Figure 6 North America Drones Market in Energy Industry, by Industry Type (%)
Figure 7 North America Drones Market in Energy Industry, by Application (%)
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