Press release
Robotic Drilling Equipment Market Size, Share, Forecast, 2020–2027
Robotic Drilling Equipment Market
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The robotic drilling equipment market was valued at $804.0 million in 2019 and is expected to reach $1,017.4 million by 2027, registering a CAGR of 8.4% from 2020 to 2027.
There are mainly two types of robotic drills, onshore, which comprises robotic drilling machines on dry land; and offshore, which comprises robotic drilling on ocean floors or sea beds. These robotic drilling machines are used for building new rigs for extraction of oil & gas in onshore and offshore. They are also used for retrofit purpose on the old rigs during maintenance as well as while replacing the old parts of the system.
The robotic drilling equipment market is mainly driven by rise in adoption of automation in the oil & gas industry. Automation gives better data collection, precise & accurate operations, and worker safety. In addition, there is minimum human intervention, which minimizes the probability of human errors. It also increases the efficiency of robotic drilling machines as well as operations carried in onshore and offshore.
However, ability of computer systems and software to exchange and make use of information fed to the control system of robotic drilling machines compromises with the data privacy and cyber security risk of the data and operations of robotic drilling machines.
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Key Market Segments
By Application
Land
Water
By Installation
New Installation
Modernize
By End-user Industry
Oil
Gas
By Region
North America
Europe
Asia-Pacific
LAMEA
Key Players
Automated Rig Technologies Ltd.
Drillform Technical Services Ltd.
Drillmec Inc.
Epiroc AB
Herrenknecht AG
Huisman Equipment B.V.
KCA Deutag Alpha Limited
Loadmaster Universal Rigs, Inc.
Nabors Industries Ltd.
National Oilwell Varco, Inc.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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