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Robotic Drilling Equipment Market Worth $1,017.4 Million by 2027

09-15-2021 11:04 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Robotic Drilling Equipment Market

Robotic Drilling Equipment Market

Robotic drilling, also known as automated drilling, is an automation system that is specially developed for drilling operations in the oil & gas industry. It offers better solution for operations carried out in the oil & gas industry such as less drilling times, multi-sensor measurements, safer operations, and mass production.

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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.

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 the robotic drilling machines as well as the operations carried out on onshore and offshore.

Top 10 Key Market 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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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

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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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