Market Highlights:
Competitive Analysis – Nabors – Rds, National Oilwell Varco, Huisman Equipments, Automated Rig Technologies, Drillmec, Ensign Energy Services, Sekal, Rigarm, Weatherford International, and Odfjell Drilling are among the leading market players that have been included in the competitive analysis of the robotic drilling market in MRFR’s report.
Bottom of FormTop of FormBottom of FormTop of FormBottom of FormGet Free Sample “Global Robotic Drilling Market Report” at: https://www.marketresearchfuture.com/sample_request/6661
Market Drivers and Restraints:
The demand for oil & gas has been unceasing. Rising demand for automotive vehicles, power generation and other end-uses for fossil fuel have greatly influenced an increase in drilling for oil & gas, with robotic drilling taking the spotlight due to the high demand for efficiency. The global robotic drilling market is slated to appreciate at a CAGR of 7.2% during the forecast period from 2018 to 2023. In 2017, the market generated a market value of USD 650 Bn and will continue to grow to reach an approximate value of USD 940 Bn by the end of 2023.
Demand for oil & gas in a largely fossil-fuel dependent global scenario has been growing at a rapid pace due to rising populations and the growth of urbanization. This has resulted in an increase in drilling activities. Use of robotic drilling systems reduces the overall involvement of people in unsafe drilling operations. Remote controlling of robotic drilling reduces human error as well as increases safety in drilling operations while improving time efficiency, thus driving the demand for robotic drilling. Notably, safety regulations are becoming stricter, and as such, the increased demand for safety on oil rigs has increased the adoption of robotic drilling. Moreover, deep-water exploration has increased the demand for robotic drilling as deep-water pressure is highly dangerous and expensive for manned operations.
Robotic Drilling Market Segment Analysis:
Segmentation of the global robotic drilling market in MRFR’s report has been done on the basis of installation type, component, application, and region. Installation types of robotic drills have been segmented into retrofit and new builds. Between these, the retrofit segment has established itself as the key segment with both the largest share of the market as well as highest CAGR over the review period.
Components of robotic drilling systems have been segmented into hardware and software. The hardware segment has captured the most sizable share of the market. However, the software segment is set to grow at a rapid pace and contend for the leadership position in the coming years.
Applications of robotic drilling have been segmented into offshore, and onshore. Onshore applications are growing at a formidable pace, making the segment the most significant as well as the fastest growing one.
Regional Analysis:
North America is one of the most significant consumers of oil and market players in the region have been conducting exploration activities for a long time in an effort to build reserves. Moreover, the presence of well-developed infrastructure and developed countries such as the U.S and Canada combined with a high number of motor vehicles has stressed the increasing demand for fossil fuels. The U.S also homes the Permian Basin which is a massive sedimentary basin with large reserves of oil. Increasing onshore oil & gas exploration activities are expected to increase the adoption of robotic drilling. The North American market for robotic drilling is both the most significant among all regions and the fastest growing market.
Report Overview:
The report for Global Robotic Drilling Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table of Content:
1 Executive Summary
2 Market Introduction
2.1 Definition
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
5.1 Introduction
5.2 Drivers
5.2.1 Increase In Drilling Activities
5.2.2 Less Human Intervention
5.2.3 Adoption Of Automation In Oil & Gas
5.3 Restraints
5.3.1 Lack Of Interoperability Of Rig Control System
5.3.2 Restraints Impact Analysis
5.4 Opportunities
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
6.1 Overview
6.1.1 Retrofit
6.1.1.1 Market Estimates & Forecast, 2018-2023
6.1.1.2 Market Estimates & Forecast By Region/Country, 2018-2023
6.1.2 New Builds
6.1.2.1 Market Estimates & Forecast, 2018-2023
6.1.2.2 Market Estimates & Forecast By Region/Country, 2018-2023
7 Global Robotic Drilling Market, By Component
7.1 Overview
7.1.1 Hardware
7.1.1.1 Market Estimates & Forecast, 2018-2023
7.1.1.2 Market Estimates & Forecast By Region/Country, 2018-2023
7.1.2 Software
7.1.2.1 Market Estimates & Forecast, 2018-2023
7.1.2.2 Market Estimates & Forecast By Region/Country, 2018-2023
8 Global Robotic Drilling Market, By Application
8.1.1 Onshore
8.1.1.1 Market Estimates & Forecast, 2018-2023
8.1.1.2 Market Estimates & Forecast By Region/Country, 2018-2023
8.1.2 Offshore
8.1.2.1 Market Estimates & Forecast, 2018-2023
8.1.2.2 Market Estimates & Forecast By Region/Country, 2018-2023
Continued…
For more Robotic Drilling market News Visit:
https://www.marketresearchfuture.com/press-release/robotic-drilling-market
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/robotic-drilling-market-6661