According to Stratistics MRC, the Global Robotic Drilling market is accounted for $612.3 million in 2017 and is expected to reach $1341.8 million by 2026 growing at a CAGR of 9.1%. Raised adoption of automation in oil & gas industry and enhanced operational efficiency and less human intervention are some of the factors boosting the market growth. However, the lack of interoperability of rig control systems is restraining the market growth.
Based on application, onshore segment is expected to witness huge growth rate due to the oil and gas production takes place at onshore oil and gas fields. These fields need less capital investment in contrast with offshore fields and the costs related to automation in these fields are relatively low. By installation, retrofit segment is attributed the large market share due to the rising need to improve safety and efficiency of the existing rigs, coupled with the improved focus on low human intervention during drilling.
By geography, North America is likely to be the largest and fastest-growing market during the forecast period owing to the raised shale gas production and quicker adoption of advanced technologies in drilling drive the market growth in the region.
Some of the key players in global Robotic Drilling market include Precision Drilling, Automated Rig Technologies, National Oilwell Varco, Drillmec, Drillform Technical, Sekal, Abraj Energy, Rigarm, Huisman, Ensign Energy Services and Weatherford International.
- New Builds
- North America
- ·Rest of Europe
- Asia Pacific
- ·New Zealand
- ·South Korea
- ·Rest of Asia Pacific
- South America
- ·Rest of South America
- Middle East & Africa
- ·Saudi Arabia
- ·South Africa
- ·Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements