Global Robotic Drilling Market, By Application (Onshore and Offshore), Installation (Retrofit and New Builds), Component (Hardware and Software), End User Industry (Oil and Gas), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Robotic Drilling Market
Data Bridge Market Research analyses that the robotic drilling market will witness a CAGR of 7.50% for the forecast period of 2021-2028. Increasing focus on the development of new oil and gas fields especially in the developing economies, growing use of robotic drilling for a wide range of end user industries such as oil and gas and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the robotic drilling market. Therefore, the robotic drilling market value would rise up to USD 8,025.65 million by 2028.
From the name itself, it is clear that robotic drilling is an automation system that is used for drilling. The robotic drilling systems are widely used by oil and gas industries around the globe. The robotic drilling systems are efficient enough as they can be easily integrated into new or existing onshore and offshore installations. It is a fully unmanned drill-floor solution based upon robotic technology. Robotic drilling systems are fast, precise and seamless in their operations.
Rise in application of robotic drilling for oil and gas exploration activities is the root cause fuelling up the robotic drilling market growth rate. Rising industrialization coupled with growing development of unconventional hydrocarbon resources will also directly and positively impact the growth rate of the robotic drilling market. Growth and expansion of oil and gas verticals especially in the emerging economies coupled with surge in the power generation activities will further carve the way for the growth of the robotic drilling market. Rising advancements in the robotic technology is other indirect determinant which will also foster the robotic drilling market growth rate.
However, COVID-19 pandemic posed a major challenge to the growth of the robotic drilling market. Fluctuations in the prices of oil and gas will dampen the robotic drilling market growth rate. Also, high costs associated with initial investment and rising concerns over cyber security will further derail the robotic drilling market growth rate.
This robotic drilling market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on robotic drilling market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Robotic Drilling Market Scope and Market Size
The robotic drilling market is segmented on the basis of application, installation, component and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of application, the robotic drilling market is segmented into onshore and offshore.
- On the basis of installation, the robotic drilling market is segmented into retrofit and new builds.
- On the basis of component, the robotic drilling market is segmented into hardware and software.
- On the basis of end user industry, the robotic drilling market is segmented into oil and gas.
Robotic Drilling Market Country Level Analysis
The robotic drilling market is analysed and market size, volume information is provided by country, application, installation, component and end user industry as referenced above.
The countries covered in the robotic drilling market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the robotic drilling market and will continue to flourish its dominance during the forecast period owing to the increase in capacity of oil and gas production in the U.S. and Canada and presence of major players in the region. Asia-Pacific will continue to however project the highest CAGR for this period owing to the rising oil and gas exploration activities in this region.
The country section of the robotic drilling market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Robotic Drilling Market Share Analysis
The robotic drilling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to robotic drilling market.
The major players covered in the robotic drilling market report are Huisman Equipment B.V., Drillform Technical Services Ltd., DRILLMEC SPA, Nabors Industries Ltd., NOV Inc., PRECISION DRILLING CORPORATION, Weatherford, Exxon Mobil Corporation., Shell group of companies, Chevron Corporation., bp p.l.c., Saudi Arabian Oil Co., Valero., Phillips 66 Company., Petróleo Brasileiro S.A.,, Petroliam Nasional Berhad (PETRONAS), SKF Evolution, Siemens, Ensign Energy Services, Sekal AS and Abraj among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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