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The oil and gas drilling automation market is driven by the oil and gas price recovery. In addition, growth in shale oil production is anticipated to boost the growth of the oil and gas drilling automation market.
Rapid fluctuations in crude oil prices adversely impacted the economic activities in oil-dependent regions. The economy of several countries in the Middle East, such as Saudi Arabia, Oman, and Kuwait, has historically been reliant on crude oil extraction and export. Additionally, the restoration of oil production facilities in Saudi Arabia to full capacity is expected to cater to the global demand for O&G at stable prices during the forecast period. Owing to rapid advances in automation and system integration technologies, automated drilling solutions are finding increased adoption in onshore and offshore oil and gas sites. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.
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Major Five Oil and Gas Drilling Automation Companies:
ABB Ltd.
ABB Ltd. operates business through Electrification, Industrial Automation, Motion, Robotics, and Discrete Automation, and Corporate and Other. The company offers automation, digital and advisory systems, for new and existing drilling rigs, jack-ups, and semi subs.
Akastor ASA
Akastor ASA operates business through MHWirth, AKOFS Offshore, and AGR. The company offers remote-controlled systems for drilling operations through the mhwirth brand.
Ensign Energy Services Inc.
Ensign Energy Services Inc. operates business through Canada, United States, and International. The company offers ASR 150 fully automated service rig.
Honeywell International Inc.
Honeywell International Inc. operates business through Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers automation and safety infrastructure for onshore and offshore production.
Kongsberg Gruppen ASA
Kongsberg Gruppen ASA operates business through Kongsberg Maritime, Kongsberg Defence and Aerospace, and Others. The company offers offshore autonomous underwater vehicle and field development systems.
Oil and Gas Drilling Automation Market Application Outlook (Revenue, USD Million, 2020-2025)
- Onshore - size and forecast 2020-2025
- Offshore - size and forecast 2020-2025
Oil and Gas Drilling Automation Market Geography Outlook (Revenue, USD Million, 2020-2025)
- North America - size and forecast 2020-2025
- Europe - size and forecast 2020-2025
- APAC - size and forecast 2020-2025
- MEA - size and forecast 2020-2025
- South America - size and forecast 2020-2025
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