DUBLIN, March 1, 2019 /PRNewswire/ -- 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.
The overall robotic drilling market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the robotic drilling market.
Key Topics Covered:
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 Analysis4. 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 Restraints5. Robotic Drilling - Global Market Analysis
5.1 Global Robotic Drilling Market Overview
5.2 Global Robotic Drilling Market Forecast And Analysis6. Robotic Drilling Market Revenue And Forecasts To 2025 -By Component
6.2 Global Robotic Drilling Market Breakdown, By Component, 2017 & 2025
6.3 Hardware Market
6.3.2 Hardware Market Forecasts And Analysis
6.4 Software Market
6.4.2 Software Market Forecasts And Analysis7. Global Robotic Drilling Market Revenue And Forecasts To 2025 - By Installation Type
7.2 Global Robotic Drilling Market Breakdown, By Installation Type, 2017 & 2025
7.3 New Build Market
7.4 Retrofit Market8. Global Robotic Drilling Market Revenue And Forecasts To 2025 - By Application
8.2 Global Robotics Drilling Market Breakdown, By Application, 2017 & 2025
8.3 Onshore Market
8.4 Off Shore Market9. Robotic Drilling Market - Geographical Analysis
9.2 North America Robotic Drilling Market Revenue And Forecasts To 2025
9.3 Europe Robotic Drilling Market Revenue And Forecasts To 2025
9.4 Apac Robotic Drilling Market Revenue And Forecasts To 2025
9.5 Middle East & Africa Robotic Drilling Market Revenue And Forecasts To 2025
9.6 South America (Sam) Robotic Drilling Market Revenue And Forecasts To 202510. Industry Landscape
10.1 Merger & Acquisition
10.2 Market Initiative
10.3 New Development11. Competitive Landscape
11.1 Competitive Product Mapping
11.2 Market Positioning - Global Top 5 Players12. Global Robotic Drilling - Company Profiles
12.1 Nabors Industries Ltd.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 Swot Analysis
12.1.5 Key Developments
12.3 National Oilwell Varco, Inc.
12.4 Sekal As
12.5 Huisman Equipment B.V.
12.6 Automated Rig Technologies Ltd.
12.7 Drillmec Inc.
12.8 Ensign Energy Services Inc
12.9 Abraj Energy Services
12.10 Drillform Technical Services Ltd.s Ltd.
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