Oil and Gas Drilling Automation Market is segmented by Type (Automated Drilling, Automated Underwater Vehicle, and Others), and by Application (Onshore and Offshore), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Market Definition / Research Scope
Oil and gas automation tech has the capability of drilling strategies using consecutive diagnostics based on sensor data from the drilling equipment. Automation in oil and gas drilling lessens human presence, thereby reducing the likelihood of human errors. It also helps to enhance production effectiveness through better-advanced execution and accuracy, therefore minimizing associated expenses.
Oil and Gas Drilling Automation Market Size shall reach a value of $69.82 Million in 2031, growing with a CAGR of 1.3% during the forecast period of 2022 to 2031.
The oil and gas drilling equipment consist of a volume of factors such as mud pump, mud tank, motor, and hose. The equipment is providing adequate efficiency as compare to regular equipment. Drilling automation majors on the downhole activities essential in the basic drilling of an oil or gas well.
Oil and gas drilling automation is majorly used in the oil and gas industry to Increase accelerated processes and safe work environments. They are progressively being adopted in the oil and gas drilling industry to obtain better functional efficiency.
Oil and Gas Drilling Automation Market Growth and Trends
• Oil and gas drilling automation is in demand with rapid rise in consumption of fuel across the world.
• Automation techniques are increasingly being adopted in the oil and gas drilling industry to attain better operational efficiency.
• Extensive implementation of automated drilling technologies in the oil and gas industry is set to change the performance of well drilling, directional drilling, and reconditioning of oil and gas field wells.
• Integration of automation in the oil and gas industry plays a major role in boosting the growth of the global oil and gas drilling automation market.
• Automation in oil and gas drilling reduces the human presence, thereby minimizing the chances of human errors. It improves production efficiency through better accuracy and advanced execution, thus reducing associated expenses and saves time.
• Furthermore, growing number of oil and gas drilling automation companies are increasingly focusing on research and redevelopment of robotic drilling systems that offer automated technologies across various production sectors including drilling, monitoring, inspection, and repair, maintenance and intervention, to improve the overall process efficiency and reduce operation cost during complex oil and gas drilling automation operations
• Based on type, the oil and gas drilling automation market can be divided into automated drilling, automated underwater vehicles, and others.
• Based on application, the oil and gas drilling automation market can be segmented into onshore and offshore.
• The onshore application segment accounted for major share of the oil and gas drilling automation market in 2018. This application segment is likely to gain market share and is anticipated to maintain its leading position in the global oil and gas drilling automation market over the forecast period.
• Few global players in the field are ABB Group, National Oilwell Varco, Inc., Kongsberg Gruppen, Pason Systems Corp., Nabors Industries Ltd. and Rockwell Automation, Inc.
• However, high cost associated with automation is expected to hamper the growth of the oil and gas drilling automation market in the near future.
• Price fluctuation of crude oil plays a key role for lowering the adoption of automation technology in the drilling industry. This unstable nature of crude oil has eventually made it hard for oil and gas drilling automation companies to invest in automation, thus impeding the development of the oil and gas drilling automation market.
Oil and Gas Drilling Automation Market Regional Analysis
Oil and Gas Drilling Automation Market Share and Competition
Key companies operating in this industry are: ABB Group, National Oilwell Varco, Inc., Kongsberg Gruppen, Pason Systems Corp., Nabors Industries Ltd., and Rockwell Automation, Inc. Similar industries in this domain that is growing at a high CAGR include Power Drill Market and Oilfield Equipment Market.
Oil and Gas Drilling Automation Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Automated Drilling
• Automated Underwater Vehicle
Application Analysis (Revenue, USD Million, 2022 - 2031)
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Oil and Gas Drilling Automation Market Companies
• ABB Group
• National Oilwell Varco, Inc.
• Kongsberg Gruppen
• Pason Systems Corp.
• Nabors Industries Ltd.
• Rockwell Automation, Inc.
Available Versions: -
United States Oil and Gas Drilling Automation Market Research Report
Europe Oil and Gas Drilling Automation Market Research Report
Asia Pacific Oil and Gas Drilling Automation Market Research Report
India Oil and Gas Drilling Automation Market Research Report
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