At 9.21% CAGR, Latest Study explores the Robotic Drilling Market size, Witness Highest Growth in near future by 2026
Category: #business |   By Admin |   Date: 2021-02-03  |  Product ID: 2453364 | 
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At 9.21% CAGR, Latest Study explores the Robotic Drilling Market size, Witness Highest Growth in near future by 2026

Robotic Drilling Market report provides key statistics on the market status of the Robotic Drilling Industry and is a valuable source of guidance and direction for companies and individuals interested in the Robotic Drilling Market. Robotic Drilling Market Report covers the companies’ data, including Growth potential analysis, Executive Summary, Data sources, Industry segmentation, Porter's analysis, Business trends, Growth drivers, Price trend analysis, Industry pitfall and challenges, Industry impact forces, Competitive landscape

In the report, we have covered two proprietary models, the Robotic Drilling Positioning Matrix and Competitive Strategic Window. The Robotic Drilling Positioning Matrix analyses the competitive marketplace for the players in terms of product fulfilment and business strategy they adopt to sustain in the Robotic Drilling market. The Competitive Strategic Window analyses the competitive landscape in terms of Robotic Drilling markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisitions strategies, geography expansion, research & development, new product introduction strategies to execute further business expansion and growth in Robotic Drilling market.

Robotic Drilling Market forecasting derived from in-depth understanding attained from future market spending patterns provides enumerated insight to support your decision-making process. Our market forecasting is based on a market model derived from market connectivity, dynamics, and identified persuasive factors around which conventions about the market are made. These conventions are enlightened by fact-bases, put by primary and secondary research instruments, regressive analysis and an extensive connect with industry people.

Global robotic drilling market is valued at approximately USD 672.45 million in 2018 and is anticipated to grow with growth rate of more than 9.21% over the forecast period 2019-2026. The advent of automation in different industries such as oil & gas has reduced which is considered as a major growth trend for the global robotic drilling market. Key drivers for the robotic drilling market are increasing drilling activities, growing adoption of robotics and automation in industries, growing investment on R&D of electric robots coupled with technological advancement in robotic drilling, thereby supplementing the adoption & growth robotic drilling in the market. Rising drilling activities worldwide is one of the key drivers augmenting the market growth globally. For instance, as per the India Brand Equity Foundation, ONGC (Oil and Natural Gas Corporation) invested approx. $2.73 billion on drilling oil and gas wells in 2018-19. Similarly, in Norway about 56 exploration wells were drilled in 2015 as compared to 51 exploration in 2010. Further, in 2016, Denmark government issued 16 exploration license and Norway awarded license to 13 companies to promote exploration drilling. Thus, growing drilling activities increases the demand for safety, higher efficiency and effectiveness, thereby contribute towards the adoption of automation and robotic drilling in market. Furthermore, collective exploration activities in arctic regions an ultra-Deepwater is expected to create lucrative growth prospects of the robotic drilling market across the globe. However, cyber security issues with the automated and rig control system interoperability act as a key restraint for the market during the forecast period. On the basis of segmentation, the robotic drilling market is segmented into application, installation and component. On the basis of application segment, the market is sub-segmented into onshore and offshore of which onshore application holds the major share owing to its low capital investment, operable in dynamic and harsh environment as compared to offshore drilling. The component segment is classified into software and hardware. The installation segment is diversified into retrofit and new build. The retrofit segment is expected to dominate installation segment owing to growing need for improved safety and efficiency of the rigs. The regional analysis of robotic drilling market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in robotic drilling market due to increasing shale gas production and high adoption of advanced technologies in drilling activities. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. Further, growing demand for crude oil in the region is significantly driving the adoption of robotic drilling technology thereby augmenting market growth in the region. The leading market players mainly include-National Oilwell Varco Weatherford International Nabors – Rds Ensign Energy Services Huisman Drillmec Precision Drilling Sekal Abraj Energy Drillform Technical Automated Rig Technologies Rigarm

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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
The key manufacturers covered in this report:

  • National Oilwell Varco
  • Weatherford International
  • Nabors Rds
  • Ensign Energy Services
  • Huisman
  • Drillmec
  • Precision Drilling
  • Sekal
  • Abraj Energy
  • Drillform Technical
  • Automated Rig Technologies
  • Rigarm

The report Robotic Drilling market is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Besides, the Robotic Drilling market report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Moreover, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

Some of the Highlights about Table of Content of Robotic Drilling Market

1 Robotic Drilling Market overview

  • Market Introduction
  • Research Objectives
  • Years Considered
  • Robotic Drilling Market Research Methodology
  • Economic Indicators
  • Currency Considered

2 Executive Summary

  • World Market Overview
  • Global Robotic Drilling Consumption analysis and forecast
  • Robotic Drilling Consumption CAGR by Region

3 Market Drivers, Challenges and Trends

  • Robotic Drilling Market Drivers and Impact
  • Growing Demand from Key Regions
  • Growing Demand from Key Applications and Potential Industries
  • Market Challenges and Impact
  • Robotic Drilling Market Trends

4 Marketing, Distributors and Customer

  • Sales Channel
  • Direct Channels
  • Indirect Channels

5 Key Players Analysis

  • Company Details
  • Main Business Overview
  • Product Benchmarking
  • Recent Developments and Technological Advancement in Robotic Drilling Market

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