Drilling Automation Market Business Status, Industrial Outlook 2028 and Top Players | Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International PLC, National-Oilwell Varco, Inc.

The Drilling Automation market is expected to grow at a CAGR of more than 3% over the period of 2020-2025

Drilling automation is centered on the downhole activities necessary in the actual drilling of an oil or gas well. This involves linking surface and downhole measurements with near real-time predictive models to improve the safety and efficiency of the drilling process. In the offshore segment, high level of expertise is required to maneuver the drill below the surface, and therefore drill automation may prove its reliability, which may stimulate the growth of the market.

Although technology is being continuously refined, it is expected to create a paradigm shift in the oil and gas drilling industry. Concerns over the environment and safety of individuals are expected to be mitigated with the large-scale operationalization of the technology, which is expected to aid the growth of the market, especially in the offshore segment where safety is a significant concern.

The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Drilling Automation market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.

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Some of the key players operating in the Drilling Automation market are Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International PLC, National-Oilwell Varco, Inc.

Key Market Trends

North America to Dominate the Market

North America region is expected to be among the largest drilling automation market and is likely to continue its dominance in the coming years. The region consists of major oil and gas oil production basins in the world, which provide fertile ground for further growth in the industry.
The United States is expected to be the largest user of the drilling automation in the region, especially with the boom in shale oil and gas in many onshore basins like the Permian basin that have contributed to advancements in the drilling automation market. Shale oil and gas have steadily increased in the country and may provide a platform for increasing drilling automation in multilateral horizontal drilling in the shale basins.
North America increased its output of crude oil increased significantly to 1116.5 million tons in 2019 from 1042.2 million tons in 2018. Whereas, the region's gas production increased from 101.6 billion cubic feet per day in 2018 to 109.13 billion cubic feet per day in 2019. Increasing production of oil and gas is expected to create demand for better drilling Automation techniques and thereby aid the growth of the market.
In 2018, the United States allowed the drilling in nearly all of the United States waters, which is among the most significant expansions of offshore oil & gas leasing by the federal government in the history of the United States. This new development is expected to drive offshore exploration and production activity, and hence, the demand for drilling automation is likely to increase in the future.

The report is mainly segmented into several key regions, with sales, revenue, market share, and growth rate in these regions, covering:

North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Table of Contents: -

1. Global Drilling Automation Market Overview
2. Global Drilling Automation Market Competitions by Manufacturers
3. Global Drilling Automation Capacities, Production, Revenue (Value) by Region
4. Global Drilling Automation Supply (Production), Consumption, Export, Import by Region
5. Global Drilling Automation Productions, Revenue (Value), Price Trend by Type
6. Global Drilling Automation Market Analyses by Application
7. Global Drilling Automation Manufacturers Profiles/Analysis
8. Drilling Automation Manufacturing Cost Analysis
9. Industrial Chain, Sourcing Strategy and Downstream Buyers
10. Marketing Strategy Analyses, Distributors/Traders
11. Market Effect Factors Analysis
12. Global Drilling Automation Market Forecast
13. Research Findings and Conclusion
14. Appendixes

The research includes historic data from 2015 to 2021 and forecasts until 2028 which makes the report's an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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This release was published on openPR.