Robotic Drilling Market to Witness Comprehensive Growth by 2032

Robotic drilling involves using machines for drilling activities in the oil & gas industry. Robotic drilling offers benefits to the oil & gas industry such as fewer drilling times, high drilling capacity, safer operations, multi-sensor measurements, mass production, and more predictability than human-driven rigs.

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Robotic drilling provides increased safety, higher efficiency, and effectiveness as well since it possesses the expertise for building robotic hardware and software to program and control the robots on oil & gas rigs. Robotic drilling serves as an ideal alternative to manual drilling.

Recent inventions in robotic drilling include the hydraulic arm that removes drill pipe from the setback to the well center and thereby reduces human involvement and saves time. Another trend observed in the robotic drilling market is designing multi-stack robots and pipe-handling robots. Pipe-handling robots are capable of picking up a pipe from the horizontal position, bring to the vertical position, building and moving stands, handling multiple sizes, and changing all the tools for operating various functions within the boundaries set by the existing drilling structure. Whereas, multi-stack robots reduce the involvement of humans as well as enhance efficiency.

The market growth is majorly driven by the increased drilling activities due to the development of unconventional hydrocarbon resources and the adoption of automation and robotics in oil and gas drilling, which results in higher efficiency drilling and improved safety in rigs and is thus anticipated to create great opportunities for revenue generation in robotic drilling market in the forecasted period.

However, the growth of the market may be hindered due to the interoperability of rig control systems used in robotic drilling and issues related to cybersecurity for automated systems.

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Regional analysis

The Global robotic drilling market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. North America is expected to be the largest market over the coming years in response to the rise in drilling activities of unconventional hydrocarbon resources and the adoption of automation and robotics in oil and gas drilling. Besides this, Asia-Pacific is expected to register significant growth due to the high demand for crude oil from India. Further, in the Middle East and Africa, OPEC countries are adopting robotic drilling technology significantly and thus it is anticipated to boost the market over there in the forecasted period.

Key Robotic Drilling Market Segments:

By Installation

Retrofit
New Builds

By Application

Onshore
Offshore

By Component

Hardware
Software

Key Market Players

Precision
Drillform Technical
Abraj Energy
Weatherford International
Drillmec
Automated Rig Technologies
Rigarm
Nabors
Huisman
Ensign Energy Services
Sekal
National Oilwell Varco

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COVID-19 impact

- The global market for robotic drilling has been severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport has been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply-demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of robotic drilling devices, which negatively impact the market growth.
- However, this situation is expected to improve as the government has started relaxing norms around the world for resuming business activities.

Key benefits of the report:

- This study presents the analytical depiction of the global robotic drilling market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global robotic drilling market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global robotic drilling market growth scenario.
- Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global robotic drilling market analysis depending on competitive intensity and how the competition will take shape in the coming years.

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Table Of Content

Chapter 1: INTRODUCTION

Chapter 2: EXECUTIVE SUMMARY

Chapter 3: MARKET LANDSCAPE

Chapter 4: ROBOTIC DRILLING MARKET, BY INSTALLATION

Chapter 5: ROBOTIC DRILLING MARKET, BY APPLICATION

Chapter 6: ROBOTIC DRILLING MARKET, BY COMPONENT

Chapter 7: ROBOTIC DRILLING MARKET, BY REGION

Chapter 8: COMPETITIVE LANDSCAPE

Chapter 9: COMPANY PROFILES

LIST OF TABLES

LIST OF FIGURES

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