Industry Background:
Rapid increase in global oil demands and surge in requirement for safer and high-quality drilling system will help to boost global robotic drilling market in the forecasted period. Robotic drilling is an automation system developed for drilling operations in the oil & gas industry. Robotic drilling offers benefits to the oil & gas industry including less drilling times, multi-sensor measurements, safer operations, mass production, high drilling capacity, and more predictability than human-driven rigs. Robotic drilling is the best substitute for manual drilling.
According to AMA, the market for Robotic Drilling is expected to register a CAGR of 7.2% during the forecast period to 2027. This growth is primarily driven by Rise In the Drilling Activities, Owing To the Growth of New Hydrocarbon Resources and Oil and Gas Companies Are Increasingly Using Automation and Robotics.
Globally, a noticeable market trend is evident Increased Demand for Low Human Intervention in Drilling Activities
. The Robotics & Automation sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Nabors (United States), National Oilwell Varco (United States), Precision Drilling (Canada), Huisman (Netherlands), Weatherford (Switzerland), Shell (Netherlands), Chevron (United States), ExxonMobil (United States), British Petroleum (United Kingdom) and Saudi Aramco (Saudi Arabia) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Rise In the Drilling Activities, Owing To the Growth of New Hydrocarbon Resources
- Oil and Gas Companies Are Increasingly Using Automation and Robotics
Market Trend
- Increased Demand for Low Human Intervention in Drilling Activities
- Rising Investments in Automation Industry
Restraints
- Cybersecurity Issues Related To Automated Systems
Opportunities
Increased Exploration Activities in Arctic and Improving Safety in Rigs
Challenges
Lack of Interoperability of Rig Control Systems
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Robotic Drilling Study Sheds Light on
The Robotic Drilling Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Robotic Drilling industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Robotic Drilling industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.