Exclusive Report on Global Robotic Drilling Equipment Industry: Growth Opportunity | Nabors, National Oilwell Varco, and Precision Drilling.

The global Robotic Drilling Equipment market size was valued at $792.80 Million in 2020 and is expected to reach $1451.7 Million by 2028 growing at the CAGR of 7.75% from 2021 to 2028.

The increasing number of drilling activities happening in unconventional hydrocarbon resources is one of the most important reasons responsible for the growth in demand for unmanned or remotely operated drilling systems. On the other hand, the rise in oil & gas exploration activities in the ultra-deepwater regions due to the initiation of drilling activities in Arctic regions for extraction of oil & gas creates new opportunities.

However, issues related to interoperability regarding the connection between the rig control systems and automated systems and cyber security threats for automated systems restrain the market growth adversely.

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Key Players

Some of the major Robotic Drilling Equipment players holding a high market share include Nabors, National Oilwell Varco, and Precision Drilling. These players use acquisition and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Nabors
● National Oilwell Varco
● Precision Drilling
● Huisman
● Weatherford
● Shell
● Chevron
● ExxonMobil
● Saudi Aramco
● Petronas

The recently published research report on Global Robotic Drilling Equipment Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Robotic Drilling Equipment market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Robotic Drilling Equipment market report also includes the following data points:
● COVID19 Impact on Robotic Drilling Equipment market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Robotic Drilling Equipment market

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Segmental Analysis

Market Segment By Installation with focus on market share, consumption trend, and growth rate of Robotic Drilling Equipment Market:
o Retrofit
o New Builds
o Others

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Robotic Drilling Equipment Market:
o Onshore
o Offshore

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

Currently, North America is in the lead when it comes to drilling equipment sales. The region is expected to continue its dominance over the next few years due to several factors including a stricter regulatory outlook regarding safe working conditions and worker safety, coupled with increasing shale gas production in the region.

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