Robotic Drilling Market Research Report by Installation Type (Retrofit, New Builds, and Others), Component (Hardware, Software), Application (Onshore, Offshore), and Region (North America, APAC, Europe, RoW)–Global Forecast to 2030

Robotic Drilling Market Snapshot

Robotic Drilling Market is anticipated to appreciate at a healthy CAGR of 7.2% during the forecast period.

Report Overview

The report on the global robotic drilling market provides a comprehensive analysis of the market in tandem with the forecast between the period of 2018 and 2023. A historical analysis is taken into account along with current trends to assess the position of the market in the report. Additionally, the various drivers, opportunities, restraints and other vital factors have been expounded in the report. Various segments of the global market have been analyzed to their fullest extent in an effort to provide a detailed view of the market in its entirety. Segmental analysis of the market has been performed on the basis of installation type, component, application, and region. Several key competitors are included and profiled in the market to provide a competitive assessment of the market.

The Global Robotic Drilling Market is anticipated to appreciate at a healthy CAGR of 7.2% during the forecast period. The market generated an approximate market value of USD 650 Bn in 2017 and is expected to achieve a market value of more than USD 940 Bn by the end of 2023.

Players Covered

The report includes profiles of various key competitors including noted market players such as Sekal, Odfjell Drilling, Ensign Energy Services, Huisman Equipments, Nabors – Rds, Automated Rig Technologies, Drillmec, Weatherford International, National Oilwell Varco, and Rigarm.

Robotic drilling has established itself as a revolutionary robotic technology which has significant applications in unmanned drilling operations. Robotic control systems for drilling help to facilitate seamless operations between drilling machines in a safe manner which also reduces the scope for human error. 

Demand for oil & gas in a largely fossil-fuel dependent global scenario has been growing at a rapid pace due to rising populations and the growth of urbanization. This has resulted in an increase in drilling activities. Use of robotic drilling systems reduces the overall involvement of people in unsafe drilling operations. Remote controlling of robotic drilling reduces human error as well as increases safety in drilling operations while improving time efficiency, thus driving the demand for robotic drilling. Notably, safety regulations are becoming stricter, and as such, the increased demand for safety on oil rigs has increased the adoption of robotic drilling. Moreover, deep-water exploration has increased the demand for robotic drilling as deep-water pressure is highly dangerous and expensive for manned operations.

Presently, there is a lack of interoperability of rig control systems which restraint market growth. Technical advancements are expected to help mitigate this to a certain extent in the coming years.

Research Methodology

Market Research Future has initiated the consolidation of the global robotic drilling market report with a relentless pursuit for vast amounts of information about the market. Raw data extracted from primary interviews with key level executives of leading business organizations participating in the global market combined with data from public sources such as industry journals, authenticated databases, white papers, and company reports are primary and secondary sources of raw data that are used to cover every detail during analysis. Market size estimation for the forecast period has been determined using both top-down and bottom-up approaches. Once all data is gathered, MRFR's expert data analysts provide insightful observations using years of industry experience. Consolidation of all obtained information is performed to present a concise and intelligent report on the market for the forecast period from 2018 to 2023.

Latest Industry News:

April 30, 2019 --- VIST Group (Russia), a subsidiary of Zyfra Group, a multinational company involved in the development and implementation of IT for the mining industry announced the deployment of its autonomous drilling system in Siberia.  The piloted unmanned drilling system is intended to minimize the number of employees involved in hazardous and dangerous work while maintaining or potentially reducing drilling costs.

Segmentation

Installation Type

• Retrofit


• New Builds

Component

• Hardware


• Software

Application

• Onshore


• Offshore

Region

• North America


• Europe


• Asia Pacific


• Rest of World

Report Scope:

Report Attribute/Metric	Details
Market Size	2023: USD 940 Billion 2030: Significant Value
CAGR	7.2% CAGR (2022-2030)
Base Year	2021
Forecast Period	2022-2030
Historical Data	2019 & 2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Installation Type, Component and Application
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Sekal, Odfjell Drilling, Ensign Energy Services, Huisman Equipments, Nabors – Rds, Automated Rig Technologies, Drillmec, Weatherford International, National Oilwell Varco, and Rigarm
Key Market Opportunities	Safety In Oil Rigs Increased Exploration Activities In Deep Water
Key Market Drivers	Increase In Drilling Activities Less Human Intervention Adoption Of Automation In Oil & Gas

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