Press release
How Inspection Robotics in Oil & Gas Industry Market will Grow at Highest CAGR
Inspection Robotics in Oil & Gas Industry Market
For More Information and Detailed Scope of this Report, Visit @ https://www.fortunebusinessinsights.com/industry-reports/inspection-robotics-in-oil-gas-industry-market-100922
The report on inspection robotics in oil and gas industry market by Fortune Business Insights is titled, “Inspection Robotics in Oil & Gas Industry Market Size, Share and Global Trend By Type (AUVs, RUVs, Others), By Application (Upstream, Midstream, Downstream), By Deployment (Onshore, Offshore) and Geography Forecast till 2026.”
The global inspection robotics in the oil and gas industry market is categorized on the basis of type, application, deployment, and geography. With respect to type, the market is classified into RUVs, AUVs, and others. Based on the application, the market is segmented into downstream, midstream, and upstream. On the basis of deployment, the market is bifurcated into offshore and onshore.
Major players operating in the global inspection robotics in the oil and gas industry market include:
Alstom Inspection Robots
Inuktun Services Ltd.
MISTRAS Group Inc.
Flyability S.A.
AeroVironment Inc.
Honeybee Robotics
ECA Group
ABB Ltd.
International Submarine Engineering (ISE) Ltd.
FMC Technologies Inc.
ING Robotic Aviation
Cyberhawk Innovations Ltd.
IKM Subsea AS
Hydrovision Ltd.
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Innovations in inspection robotics in the oil and gas industry market include:
June 2019 – In order to achieve an enhancement in the field of inspection technology, Subsea announced an investment of 17.3 million euros for developing underwater robotics technology.
June 2019 – A Boston-based company for robotics called Square Robots supplied autonomous robot to Phillips 66. This is a type of refiner with new technology for proper inspection of the refinery, thus saving both money and time.
“Rise in Operational Productivity to Boost Market”
The rise in exploration and drilling activities are considered major factors driving the global inspection robotics in oil and gas industry market growth. Inspection Robotic in oil and gas industries are used for performing maintenance and inspection tasks on industrial resources by improving well-being, reducing human intervention, and increasing operational productivity. This factor is anticipated to promote the global inspection robotics in oil and gas industry market growth in the forthcoming years.
However, the blooming of the oil and gas industry has created major environmental concerns and this may restrict the inspection robotics in oil and gas industry market growth in the coming years. In addition to that, the high cost of stockpiling tank, oil and gas stage inspection, and pipelines may also cause hindrance to the overall market growth in the coming years.
The rise in investments for creation, investigation, and drilling exercises are likely to bode well for the market as well. Furthermore, the rise in the number of upstream undertakings on a global basis will also help the market attract high revenue in the years to follow.
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“North America to Attract High Revenue Owing to Presence of Major Players”
As per the report, the market is anticipated to be dominated by Asia Pacific on account of high adoption ability in nations such as India and China. This, coupled with huge investments for exploration activities in offshore oil and gas projects is anticipated to show positive inspection robotics in oil and gas industry market growth in the forecast period.
On the other side, the market in Europe is expected to show significant growth because of the huge investments made in advanced technology. The adoption of advanced technology will help to reduce the risk of accidents and thus help Europe generate high revenue in the forecast duration.
The presence of giant oil and gas companies such as Shell, with a vast network of pipeline, coupled with the continuous progress in exploration activities, the market in North America is anticipated to hold the largest inspection robotics in the oil and gas industry market share.
Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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