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Robotic Drilling Market: Introduction

  • Oil and gas fields are often located in remote locations. They undertake hazardous operations. As a result, safety of workers and their surrounding environment is a priority of oil & gas companies. Automation of drilling process ensures safety of systems and workforce.
  • Robotic drilling is employed in drilling activities of unconventional hydrocarbon resources. It helps increase efficiency of drilling and improve safety of rigs and workers.

Key Drivers and Restraints of Robotic Drilling Market

  • Rise in automation in the oil & gas industry is one of the key drivers of the robotic drilling market. Over the last few years, oil and gas companies have been depending more on the automation process, as the process reduces time and increases profitability. Several companies are taking initiatives to implement digitization in oil fields. This has led to a rise in investment in the modernization of facilities intended to increase productivity and reduce budgets as well as timelines.
  • Robotic drilling reduces human contact in the drilling process and also improves the speed of production. Furthermore, drilling can produce dust or other particles in the air during the application process. The usage of a robotic driller helps remove workers from the harmful environment. Thus, demand for robotic drilling is likely to increase during the forecast period.  
  • Robotic drilling technology is in the development phase. Thus, the cost associated with it is much higher. Furthermore, lack of infrastructure is one of the restraining factors of the global robotic drilling market.

Global Robotic Drilling Market Segmentation

  • The global robotic drilling market can be segmented based on application, installation, and component
  • In terms of application, the robotic drilling market can be bifurcated into onshore and offshore. The onshore segment dominated the global market in 2020. It is expected to maintain its dominance during the forecast period. Onshore drilling is much simpler and requires less capital as well as operational investment. Thus, demand for robotic drilling is expected to rise in the onshore segment during the forecast period.
  • Based on installation, the global robotic drilling market can be divided into new and retrofit. Retrofit was the lucrative segment of the global robotic drilling market in 2020. Demand for robotic drilling in the segment is expected to rise significantly, as it improves safety and efficiency of the existing rigs. It also increases the focus on minimal human intervention during drilling.
  • Based on component, the robotic drilling market can be segregated into hardware and software. Companies are investing significantly in development of software as well as hardware. This is projected to boost the demand for robotic drilling in the oil & gas industry during the forecast period.

Global Robotic Drilling Market: Regional Segmentation

  • Based on region, the global robotic drilling market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • North America dominated the global robotic drilling market in 2020. This trend is projected to continue during the forecast period, due to increase in capacity of oil and gas production in the U.S. and Canada. Presence of a large numbers of private oil companies in North America is likely to drive the robotic drilling market in the region during the forecast period.
  • Middle East & Africa is a major oil producing region in the world. Offshore developments and discoveries of new oil and gas fields in countries such as Qatar, the UAE, and Saudi Arabia are anticipated to boost the robotic drilling market in the Middle East during the forecast period.
  • The market in Latin America, Europe, and Asia Pacific is estimated to expand at a considerable pace during the forecast period. Increase in investment in offshore exploration activities in developing countries such as China, India, and Brazil is expected to drive the robotic drilling market during the forecast period.

COVID-19 Impact on Robotic Drilling Market

  • The COVID-19 pandemic has adversely impacted the world due to the stringent lockdowns implemented to combat the pandemic in most of the countries. It has put the global economy in major distress. Demand for oil and gas has declined significantly due to the lockdowns. Furthermore, the supply of oil and gas has been hampered, as various countries were under lockdown. However, governments of various countries across the world have eased the lockdown restrictions. Demand for petroleum products has been steadily rising. This is expected to drive the demand for robotic drilling during the forecast period.

Key Players Operating in Market:

  • NOV Inc.
  • SKF Evolution
  • Nabors Industries Ltd.
  • Siemens
  • Ensign Energy Services
  • Huisman
  • Drillmec
  • Precision Drilling
  • Sekal
  • Abraj Energy

Global Robotic Drilling Market: Research Scope

Global Robotic Drilling Market, by Application

  • Onshore
  • Offshore

Global Robotic Drilling Market, by Installation

  • New
  • Retrofit

Global Robotic Drilling Market, by Component

  • Hardware
  • Software

Global Robotic Drilling Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Norway
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Nigeria
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Robotic Drilling Market

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