According to Robotic Drilling Market 2019 Global Industry Analysis Report, the Global Robotic Drilling Market to expand at 7.2% CAGR by 2023. Report provides comprehensive market data on Robotic Drilling industry manufacturers, distributors, suppliers, consulting companies from Robotic Drilling market and mobility industry, investors, stakeholders, and research organizations.
Market for Robotic Drilling is segmented by Installation Type (Retrofit, New Builds, and Others), Component (Hardware, Software), Application (Onshore, Offshore), and Region (North America, APAC, Europe, RoW).
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Some prominent players in the global Robotic Drilling market include Sekal, Ensign Energy Services, Odfjell Drilling, Huisman Equipments, Automated Rig Technologies, Nabors – Rds, Drillmec, National Oilwell Varco, Weatherford International, and Rigarm are few of the key participants of the global robotic drilling market.
These players are investing in research and development to expand their offerings. In addition, the sophistication of technologies is also being emphasized on for gaining an edge over other competitors. These factors are presumed to catalyze the competition in the global robotic drilling marketplace.
The marketplace is characterized by the presence of domestic and international players. It is poised to witness an influx of new players and tech startups, which is further expected to catalyze competitiveness in the market. Some of the growth methodologies prognosticated to be witnessed in the market in the coming years are – mergers & acquisitions, collaborations, agreements, strategic alliances, etc.
Report provides Robotic Drilling Market size of various segments and subsegments on regional and country level from 2019 to 2023. Latest emerging trends in Robotic Drilling industry and Global market growth rate in terms of CAGR is studied in this report. New market strategy adopted by key players are also explained in this report.
Global Robotic Drilling Market Overview
Robotic drilling is an automation system that facilitates the drilling operations in the oil & gas industry. In the observation offered by Market Research Future (MRFR), the global robotic drilling market is presumed to strike 7.2% CAGR during the forecast period 2018 to 2023. The approximate valuation of the market is assessed to reach USD 650 Bn market by the end of the review period. Increasing Exploration Activities to Expand Robotic Drilling Market. Rising Adoption of Sophisticated Technologies in Oil & Gas Industry to Expand Robotic Drilling Market.
The use of robotic drilling limits human intervention and saves time. These factors are projected to catalyze the growth of the robotic drilling market in the coming years. The product is also proven to exhibit enhanced efficiency, which is motivating its sales. The trend is supposed to continue in the nearby future, thus, supporting market growth. The robotic drilling is observed to reduce human errors drastically. It is also anticipated to encourage the growth curve of the market in the years to come.
The growth of the oil & gas industry is anticipated to play a crucial role in the development of the global robotic drilling market over the next couple of years. With rapid urbanization and an exponentially growing global population, the demand for fossil fuel is likely to witness an upswing in the forthcoming years. This, in turn, is prognosticated to accelerate revenue generation for the player in the robotic drilling market in the foreseeable future.
Based on installation type, the robotic drilling market has been segmented into retrofit and new builds.
Based on component, the robotic drilling market has been divided into hardware and software.
Based on application, the robotic drilling market has been divided into onshore and offshore.
The global robotic drilling market has been analyzed on the basis of region for a detailed geographical assessment. The regional segments identified are – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regional segments are then assessed based on countries for a further analysis. North America is a key segment of the robotic drilling market. It is supported by the rising exploration of shale gas in the region. Increasing demand for fuel, in conjunction with rising adoption rate of advanced technologies, is poised to lead the proliferation of the robotic drilling market in the foreseeable future.
Asia Pacific is also projected to witness a substantial growth due to the rising exploration activities in the oil & gas industry. The region has been observing a steep rise in population which supports the rising demand for fuel. This, in turn, is anticipated to boost the growth
Table Of Contents
Table Of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Key Buying Criteria
3 Market Insights
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
4.6 List Of Assumptions
5 Market Dynamics
5.2.1 Increase In Drilling Activities
5.2.2 Less Human Intervention
5.2.3 Adoption Of Automation In Oil & Gas
5.3.1 Lack Of Interoperability Of Rig Control System
5.3.2 Restraints Impact Analysis
5.4.1 Safety In Oil Rigs
5.4.2 Increased Exploration Activities In Deep Water
5.5 Supply Chain Analysis
5.6 Porter’s Five Forces Model
5.6.1 Threat Of New Entrants
5.6.2 Bargaining Power Of Suppliers
5.6.3 Bargaining Power Of Buyers
5.6.4 Threat Of Substitutes
5.6.5 Intensity Of Rivalry
6 Global Robotic Drilling Market, By Installation Type
18.104.22.168 Market Estimates & Forecast, 2018-2023
22.214.171.124 Market Estimates & Forecast By Region/Country, 2018-2023
6.1.2 New Builds
126.96.36.199 Market Estimates & Forecast, 2018-2023
188.8.131.52 Market Estimates & Forecast By Region/Country, 2018-2023
7 Global Robotic Drilling Market, By Component
184.108.40.206 Market Estimates & Forecast, 2018-2023
220.127.116.11 Market Estimates & Forecast By Region/Country, 2018-2023
18.104.22.168 Market Estimates & Forecast, 2018-2023
22.214.171.124 Market Estimates & Forecast By Region/Country, 2018-2023
8 Global Robotic Drilling Market, By Application
126.96.36.199 Market Estimates & Forecast, 2018-2023
188.8.131.52 Market Estimates & Forecast By Region/Country, 2018-2023
184.108.40.206 Market Estimates & Forecast, 2018-2023
220.127.116.11 Market Estimates & Forecast By Region/Country, 2018-2023
10 Global Robotic Drilling Market, By Region
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