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Robotic Drilling Market Application, Installation, Components And Region - Global Forecast to 2023

Robotic Drilling Market: Global Forecast until 2023

  • June 2018
  • 112 pages
  • ID: 5439557
In this report:
The growth of the market is attributed to the increasing shale gas production, which accounted for about ##% in 2015 and is estimated to hold approximately ##% share in the total natural gas production by 2040.
Tight oil and shale gas production is expected to be ##.## million BPD and ## billion cubic feet per day by 2040.

Summary

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The robotic drilling market is forecasted to grow at a CAGR (Compound annual growth rate) of ~7.0 percent from 2018 to 2023.

The robotic drilling market is forecasted to reach $923.20M by 2023, at a compound annual growth rate (CAGR) of ~7.0 percent from 2018 to 2023. This market increase is influenced by the increased drilling activities due to the development of unconventional hydrocarbon resources and the adoption of automation and robotics in oil and gas drilling, which results in higher efficiency drilling and enhanced safety in rigs. Nevertheless, the lack of interoperability of rig control systems used in robotic drilling act as a restraint for the market increase.

The onshore drilling segment of the robotic drilling market, by application, is anticipated to rise at a better compound annual growth rate from 2018 to 2023.

The onshore drilling market is anticipated to grow at a better compound annual growth rate during the outlook period. The increase of the market can be accredited to the increase in unconventional drilling activities and penetration of automation in onshore drilling in countries including the US, China (CN), and Canada (CA).

North America continent: the most important robotic drilling market.

North America (NA) is expected to dominate the overall robotic drilling market during the forecast period due to the growth in drilling activities in the USA and Canada (CA).The USA is the biggest market in North America continent and is focused on developing its shale gas resources to rise its oil and gas production, along high adoption of automation and robotics in drilling.

Canada (CA) is the other main market in North America (NA). The area has an abundance of conventional and unconventional sources of natural gas, containing tight gas and shale gas, leveraging its drilling automation technology for extracting these resources.

Distribution of primaries

Comprehensive interviews have been managed with several key industry participants, subject matter experts, C-suite executives of key industry players, and industry consultants, among other experts, to verify and obtain critical qualitative and quantitative info, as well as to evaluate market prospects. The classification of primaries interviews is like:

• By Company category: Tier 1 - 36.0 percent, Tier 2 - 40.0 percent, and Tier 3 - 24.0 percent

• By Description: C-suite - 25.0 percent, D-level - 35.0 percent, and Others - 40.0 percent

• By Area: North America continent - 32.0 percent, Asia Pacific (APAC) - 25.0 percent, Europe (EU) - 7.0 percent, Middle East (ME) - 26.0 percent, and rest of the world - 10.0 percent

Note: The tiers of the firms have been defined on the basis of their final revenue as of 2016: Tier n1 = >USD 1 billion, Tier n2 = $500.0M to $1.0B, and Tier n3 =

Nabors, Precision Drilling, Huisman, Weatherford, and National Oilwell Varco are among the key players in the robotic drilling market.

Segment Research

The industry report offers a picture of the robotic drilling market across the oil and gas sector in different areas.It aims at evaluating the market value and future increase potential of the market across several segments, that is, component, installation, application, and area.

Moreover, the study includes a detailed competitive analysis of the top players in the industry, together with their company descriptions, latest developments, and key industries strategies.

For the purpose of this report, the market has been split on the basis of installation, component, application, and area, with a focus on industry study, ranking study of the top actors, supply chain research, and company descriptions, which together comprise the basic overviews on the competitive landscape, coming out and high-growth segments of the robotic drilling market, high-growth areas, and drivers, industry restraints, opportunities, and possibilities pertaining to the market.

This study furnishes highlights on the following points:

• Product Development/Innovative products: In-depth understanding on up-on-coming technologies, analysis and growth activities, and recent product launches and advancements in the robotic drilling market

• Market Development: Highlighted information about the profitable emerging sectors; the market research examines the industries for robotic drilling across localities

• industry diversification: Complete information about recent products, untapped areas, recent evolutions, and market investments in the overall robotic drilling market

Why Buy This Report?

• The report determines and addresses top solutions for the operators of robotic drilling systems, which would further growth the industry demand for such drilling solutions.

• The report benefits solution providers distinguish the pulse of the sector and offers business insights into drivers, market restraints, alternatives, and opportunities.

• The report will facilitate top players comprehend the strategies of their competitors better and will facilitate in making tactical conclusions.

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