Press release
Oil and Gas Drilling Automation Market Size, Trends, Growth, Outlook, Demand, and Market Forecast 2023-2030
The market for oil and gas drilling automation is expanding as a result of recent advancements and a notable increase in the automation of drilling processes by integrating automation operations. Drilling contractors and producers of rig equipment have made significant strides in automating operational activity subprocesses, a practice known as rig automation. Automation lessens the need for human sensory and cognitive abilities, and mechanization helps with task management.
The increased emphasis on energy security and the global energy crisis are driving up demand for automation in oil and gas drilling. The stabilization of energy markets is being aided by the relief of pressure on the gas markets in 2023 as a result of timely policy moves and pleasant weather.
Oil and Gas Drilling Automation Market Size and Growth Analysis
The Global Oil and Gas Drilling Automation Market reached US$ 1.9 billion in 2022 and is expected to reach US$ 5.1 billion by 2030, growing with a CAGR of 10.2% during the forecast period 2023-2030.
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Oil and Gas Drilling Automation Market Dynamics
The market for oil and gas drilling automation is anticipated to be driven by new developments and advancements in oil and gas drilling automations, utilizing state-of-the-art technologies and methodologies to maximize productivity, reduce environmental impact, and optimize efficiency.
A new era of oil and gas extraction is being ushered in by the harmonious fusion of these technologies: expandable casing, multilateral drilling, horizontal drilling, extended reach drilling, automated systems like SCADAdrill, and the invention of expandable casing. This new era is marked not only by increased output but also by sustainable and ethical practices that guarantee a balanced coexistence with the environment.
Drilling operations are advanced by the synergistic integration of these state-of-the-art technology, which promote environmental responsibility, safety, and precision. For example, the most recent addition to the Halliburton Co. iStar drilling and logging platform is the BrightStar look-ahead resistivity service.
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Oil and Gas Drilling Automation Market Segment Analysis
By Type
By Application
By End-User
By Region
Major Companies Covered
Schlumberger Limited, Halliburton Co., Baker Hughes Co., Weatherford International, Nabors Industries Ltd., Precision Drilling Corporation, Patterson-UTI Energy, Inc., China National Petroleum Corporation (CNPC), Saipem S.p.A.
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