Global Robotic Drilling Equipment Market Share, Analysis 2031

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.

𝙂𝙚𝙩 𝙞𝙣𝙨𝙞𝙙𝙚 𝙎𝙘𝙤𝙤𝙥 𝙤𝙛 𝙩𝙝𝙚 𝙧𝙚𝙥𝙤𝙧𝙩, 𝙧𝙚𝙦𝙪𝙚𝙨𝙩 𝙛𝙤𝙧 𝙨𝙖𝙢𝙥𝙡𝙚: - https://www.alliedmarketresearch.com/request-sample/9715

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁

Robotic drilling equipment, also known as automated drilling equipment, is an automation system that is specially developed for drilling operations in the oil & gas industry. There are mainly two types of robotic drills, onshore, which consists of 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. Robotic drilling 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. Robotic drilling companies manufacture robotic hardware as well as software to program and control the robots working on oil & gas rigs.

Robotic drilling equipment is composed of robotic systems, specialized software, and other components that enable the automation of drilling operations. This technology can significantly improve drilling efficiency by reducing the number of personnel required for operations and allowing for more precise drilling operations that are less prone to human error. Additionally, robotic drilling equipment can be used to reduce operational costs by increasing the speed of drilling and reducing the amount of time spent onsite.

The demand for drilling equipment and services has increased significantly over the last few decades as the world's energy needs become more demanding. Furthermore, the increasing cost of oil and gas production has driven the need for more efficient and cost-effective drilling technologies. In recent years, robotic drilling equipment has emerged as an attractive solution to these industry challenges.

𝙈𝙖𝙠𝙚 𝙖 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙄𝙣𝙦𝙪𝙞𝙧𝙮: - https://www.alliedmarketresearch.com/purchase-enquiry/9715

𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀

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. The growth of the market is driven by increasing demand for robotic drilling equipment from the oil and gas industry, as well as from other industries such as coal mining and construction. Furthermore, the growing trend of automation and digitalization across industries is expected to drive the demand for robotic drilling equipment.

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

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. Major companies in the market have adopted strategies, such as business expansion, partnership, acquisition, and product launch, to offer better products and services to customers in the robotic drilling equipment market. For instance, in August 2020, Drillform opened a new facility in the UAE in Abu Dhabi to provide service to customers in the Middle East and North Africa regions. It looks after the sales and services of its products through this facility.

𝙏𝙤 𝙋𝙪𝙧𝙘𝙝𝙖𝙨𝙚 𝙩𝙝𝙞𝙨 𝙋𝙧𝙚𝙢𝙞𝙪𝙢 𝙍𝙚𝙥𝙤𝙧𝙩: - https://www.alliedmarketresearch.com/checkout-final/2fa8526f3a0c24575be90733f5693371

𝗔𝗻𝗮𝗹𝘆𝘀𝘁 𝗥𝗲𝘃𝗶𝗲𝘄 :

In conclusion, the robotic drilling equipment market is expected to experience significant growth over the forecast period due to increasing demand from the oil and gas industry and other industries. Major players in the market are expected to continue to invest in the development of robotic drilling equipment in order to meet the growing demand. Furthermore, smaller players are expected to enter the market and offer competitive solutions in order to gain a foothold in the industry.

David Correa
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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 domain.

This release was published on openPR.