Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for banking industry professionals · Thursday, March 28, 2024 · 699,590,066 Articles · 3+ Million Readers

Global Robotic Drilling Market 2017-2018 & 2025: Increase in Global Oil Demands and Surge in Need for Safer and High-Quality Drilling System Drive Market Growth

Dublin, Dec. 13, 2018 (GLOBE NEWSWIRE) -- The "Robotic Drilling Market to 2025 - Global Analysis and Forecasts by Component, Installation Type, and Application" report has been added to ResearchAndMarkets.com's offering.

Robotic drilling market is expected to grow US$ 946.6 million by 2025 from US$ 619.4 million in 2017

The demand for robotic drilling is largely influenced by the increase in global oil demands and surge in need for safer and high-quality drilling system. On the basis of component, hardware accounted for the largest share of the robotic drilling market in 2017 in terms of revenue.

The oil & gas sector is characterized by a high amount of uncertainty owing to the fluctuating demands for oil & gas products worldwide, environmental impacts, and legislation laid down by several authorities on these operations. Hence, the oil drilling business is also sometimes referred to as a highly risky business in financial terms as well as for the human capital involved. Digital Transformation Initiative removed the bottlenecks associated with operational costs, human lives risks, and productivity concerns.

The US is an early and major adopter of this service and is still in its growing phase with the implementation of several tools, and techniques pertaining to robotic drilling. The presence of some of the world's largest business firms coupled with huge competition in the region has driven the demands from the end-user industry for adoptions of robotic drilling services.

Additionally, US is also considered to be the hub of innovations and therefore, the technological disruptions take place in this part of the world first before spreading to the other regions. Robotic drilling market is becoming prevalent across other developed and developing economies including Europe and MEA. Also, countries in APAC are experiencing a high growth in the industrial sector thus, propelling the growth of robotic drilling market.

On the basis of application, onshore is the leading segment in global robotic drilling market. Several advantages of onshore drilling systems are, it enhances performance and safety, reduces downtime, provides higher reliability in a harsh environment, and also provisions comprehensive operating life of wells, coupled with lesser operating and maintenance costs.

All these features of the onshore drilling systems are leading towards the growth of robotic drilling in the onshore application. The implementation of advanced technologies also boosts the onshore robotic drilling system market as several companies are inclined towards the development of novel technologies.

Key Topics Covered:

1. Introduction
1.1 Scope Of The Study
1.2 Research Report Guidance

2. Key Takeaways

3. Robotic Drilling Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.3 Pest Analysis

4. Robotic Drilling Market - Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Increasing Oil Demands Globally Propelling Integration Of Automation In The Oil & Gas Sector
4.1.2 Growing Needs For A Safer And High Quality Drilling System Reducing The Human Interventions
4.2 Key Market Restraints
4.2.1 Volatility Of The Oil & Gas Industry
4.3 Key Market Opportunities
4.3.1 Higher Emphasis Being Laid For Oil Extraction In The Arctic Based Deep-Water Regions
4.3.2 Technological Innovations To Continually Create More Opportunities
4.4 Future Trends
4.4.1 Large Number Of Industry Partnerships With Different Stakeholders
4.5 Impact Analysis Of Drivers And Restraints

5. Robotic Drilling - Global Market Analysis
5.1 Global Robotic Drilling Market Overview
5.2 Global Robotic Drilling Market Forecast And Analysis

6. Robotic Drilling Market Revenue And Forecasts To 2025 - By Component
6.1 Overview
6.2 Global Robotic Drilling Market Breakdown, By Component, 2017 & 2025
6.3 Hardware Market
6.4 Software Market

7. Global Robotic Drilling Market Revenue And Forecasts To 2025 - By Installation Type
7.1 Overview
7.2 Global Robotic Drilling Market Breakdown, By Installation Type, 2017 & 2025
7.3 New Build Market
7.4 Retrofit Market

8. Global Robotic Drilling Market Revenue And Forecasts To 2025 - By Application
8.1 Overview
8.2 Global Robotics Drilling Market Breakdown, By Application, 2017 & 2025
8.3 Onshore Market
8.4 Off Shore Market

9. Robotic Drilling Market - Geographical Analysis

10. Industry Landscape
10.1 Merger & Acquisition
10.2 Market Initiative
10.3 New Development

11. Competitive Landscape
11.1 Competitive Product Mapping
11.2 Market Positioning - Global Top 5 Players

12. Global Robotic Drilling - Company Profiles

  • Nabors Industries Ltd.
  • Rigarm
  • National Oilwell Varco, Inc.
  • Sekal AS
  • Huisman Equipment B.V.
  • Automated Rig Technologies Ltd.
  • Drillmec Inc.
  • Ensign Energy Services Inc.
  • Abraj Energy Services
  • Drillform Technical Services Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/46tgd3/global_robotic?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

                    CONTACT: ResearchAndMarkets.com
                             Laura Wood, Senior Press Manager
                             press@researchandmarkets.com
                             For E.S.T Office Hours Call 1-917-300-0470
                             For U.S./CAN Toll Free Call 1-800-526-8630
                             For GMT Office Hours Call +353-1-416-8900
                    Related Topics: Robotics
                    

22157.jpg

Powered by EIN News


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release