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Global Robotic Drilling Market 2019 To 2023 Research Report

Author: Abhijeet Bendre
by Abhijeet Bendre
Posted: Mar 29, 2019

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 2023.

Browse Complete Report at: https://www.marketresearchfuture.com/reports/robotic-drilling-market-6661

Market Snapshot:

The Global Robotic Drilling Market is anticipated to appreciate at a healthy CAGR of 7.2% during the forecast period from 2018 to 2023. The robotic drilling 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. 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.

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 robotic drilling 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.

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.

Browse more news at: https://www.marketresearchfuture.com/press-release/robotic-drilling-market

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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About the Author

At Market Research Future (Mrfr), we enable our customers to unravel thec omplexity of various industries through our Cooked Research Report (Crr), Half-Cooked Research Reports (Hcrr).

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Author: Abhijeet Bendre

Abhijeet Bendre

Member since: Oct 30, 2018
Published articles: 174

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