Press release
Robotic Drilling Market to reach US$ 946.6 million by 2025 | Leading Players Rigarm, National Oilwell Varco, Sekal AS, Huisman Equipment
Robotic Drilling Market
With robotic drilling being introduced in the oil & gas industry, the sector finally has stepped into the world of automation and digital process control. Unmanned operations at the oil rigs for extraction purposes had been the dire need for the industry and has finally been made possible with Robotic Drilling System AS pioneering in this market. Primarily, the oil & gas sector is characterized by high amount of uncertainty owing to the fluctuating demands for oil & gas products worldwide, environmental impacts, and legislations laid down by several authorities on these operations. Hence, the oil drilling business is also sometimes referred to as highly risky business in financial terms as well as for the human capital involved. Digital Transformation Initiative removed the bottlenecks associated with operational costs, human lives risks, and productivity concerns. The robo
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The key companies profiled in this report include Nabors Industries Ltd., Rigarm, National Oilwell Varco, Inc., Sekal AS, Huisman Equipment B.V., Automated Rig Technologies Ltd., Drillmec Inc., Ensign Energy Services Inc., Abraj Energy Services, and Drillform Technical Services Ltd.
The global robotic drilling market has been segmented on the basis of component, installation type, and application. On the basis of component, the market has been bifurcated into hardware, and software. The robotic drilling installations include either a new build or retrofitting, and therefore the market has been segmented into these two types. Robotic drilling is basically done for extracting oil & gas from the oil wells which are basically located either onshore or offshore. Hence, on the basis of application, the robotic drilling market has been segmented into onshore and offshore.
Key findings of the study:
In 2017, North America is led the market with more than one third share of global robotic drilling market. The advanced drilling technologies including horizontal direction drilling and hydraulic fracturing have aided North America for sustaining the downturn of oil prices. Furthermore, the enhancements in the drilling technologies including dynamic positioning equipment have driven growth in the offshore drilling. It is expected that the offshore drilling activities would further witness growth owing to the US government support for opening of over 90% of outer continental shelf (OCS).
North America and Europe together contributed to the largest share of market revenue which accounted for more than 60% of overall market.
The global robotic drilling market based on application was led by onshore application segment which held more than two-third of market share in 2017 and is anticipated to continue its dominance during the forecast period. The demand for onshore drilling is growing owing to the lower costs incurred for onshore drilling activities. The new innovations and advanced technologies also boost the onshore drilling system market as several companies are focusing towards the development of the entire ecosystem.
Table of content:
TABLE 1. GLOBAL ROBOTIC DRILLING SYSTEM MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 37
TABLE 2. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 51
TABLE 3. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 52
TABLE 4. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 53
TABLE 5. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 62
TABLE 6. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 63
TABLE 7. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 64
TABLE 8. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 72
TABLE 9. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 72
TABLE 10. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 73
TABLE 11. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 80
TABLE 12. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 80
TABLE 13. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 81
TABLE 14. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 86
TABLE 15. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 86
TABLE 16. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 87
TABLE 17. GLOSSARY OF TERM: ROBOTIC DRILLINGS MARKET 129
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