Robotic Drilling Equipment Market Growth, Analysis & Forecast by 2027 | Drillmec Inc., Epiroc AB, Herrenknecht Group, Huisman Equipment B.V., KCA Deutag Alpha Limited

According to a recent report published by Allied Market Research, titled, “Robotic drilling equipment market by Application, Installation, and End-user Industry: Opportunity Analysis and Industry Forecast, 2020–2027,” the robotic drilling equipment market was valued at $0.8 billion in 2019, and is expected to reach $1 billion by 2027, registering a CAGR of 8.4% from 2020 to 2027. In 2019, the onshore segment dominated the robotic drilling equipment market.

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Growth of the robotic drilling equipment market is majorly driven by increasing adoption of automation in the oil & gas industry. On the basis of application, the land segment dominated the robotic drilling equipment market growth in 2019. Moreover, on the basis of installation, the modernize segment dominated the robotic drilling equipment market. In addition, on the basis of end-user industry, the oil segment dominated the robotic drilling equipment market and is expected to continue this trend during the forecast period.

Moreover, during the outbreak of COVID-19, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were also stopped or restricted to a huge extent. Construction & transportation activities along with their supply chains hampered on a global level. This led to decline in manufacturing of oil & gas, which directly hampers the robotic drilling equipment market. However, gradually, all industries are resuming their regular manufacturing and services. This is further expected to lead to re-initiation of robotic drilling manufacturing companies at their full-scale capacities, which is expected to help the market to start to recover by the beginning of 2022.

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Key Players

The major players profiled in the robotic drilling equipment market include Automated Rig Technologies Ltd., Drillform Technical Services Ltd., Drillmec Inc., Epiroc AB, Herrenknecht Group, Huisman Equipment B.V., KCA Deutag Alpha Limited, Loadmaster Universal Rigs, Inc., Nabors Industries Ltd., and National Oilwell Varco, Inc.

Key Benefits For Stakeholders

The report provides an extensive analysis of the current and emerging robotic drilling equipment market trends and dynamics.

In-depth robotic drilling equipment market analysis is conducted by estimations for the key segments between 2020 and 2027.

Extensive analysis of the robotic drilling equipment market is conducted by following key product positioning and monitoring of top competitors within the market framework.

A comprehensive analysis of four major regions is provided to determine the prevailing opportunities.

The robotic drilling equipment market forecast analysis from 2020 to 2027 is included in the report.

The key market players operating in the market and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market industry.

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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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