Global Robots Market in Oil and Gas Drilling Operations 2017-2021

Overview of the global robots market in oil and gas drilling operations

According to Technavio's market research report, the global robots market in oil and gas drilling operations will grow at a CAGR of close to 5% during the forecast period. The integration of data analytics to optimize drilling operation is one of the key factors that will stimulate the growth of the market until the end of 2021. Automated drilling rigs that are integrated with data analytics help understand the surface and determine reserves by providing the required data. This enables explorers to plot the drilling location. Also, operators are able to schedule, perform preventive maintenance, and reduce the operational risk and downtime of drilling machines with the help of machine learning capabilities, data analytics, and big data technology. During drilling operations, data analytics help operators to make technical decisions.

EMEA is witnessing an extensive offshore and onshore exploration of oil and gas reserves due to the availability of hydrocarbon reserves in abundance in these regions. EMEA will witness growth in the production and supply of liquid natural gas due to the rising demand for fuel. The development in major export countries such as Russia, Saudi Arabia, Iraq, the UAE, Kuwait, and Iran that will propel growth in the oil and natural gas industry will fuel the growth of the industrial robots market in EMEA.

Competitive landscape and key vendors

The robots market in oil and gas drilling operations is characterized by the presence of many vendors. Vendors in the industrial robots market are focusing on the manufacture of drilling machines that will enable oil drilling companies to optimize upstream and downstream oil and gas exploration facilities. Additionally, they are also taking efforts to develop automated drilling machines that can reduce manual intervention, increase the speed, enhance the accuracy of drilling operations, and reduce the risk to human life.

Key vendors in this market are -

• Drillmec
• Ensign
• Nabors
• Schramm

Other prominent vendors in the market include Baker Hughes, Robotic Drilling Systems, DMC, Kuwait Drilling Company, Rockwell Automation, and Voith.

Segmentation by application and analysis of the robots market in oil and gas drilling operations

• Offshore
• Onshore

Automation is necessary for offshore exploration activities because they involve the extensive exchange of data and machines for extraction when compared to onshore drilling. The automated drilling machine consists of software, sensors, and controllers. The integration of these components in robotic drilling machines enable them to coordinate with data that is received from sensors. The robotic implementation in offshore drilling will continue to increase during the projected period because they speed up the process by adjusting themselves to the diameter of pipes and sizes of metal components.

Segmentation by solution and analysis of the robots market in oil and gas drilling operations

• Hardware
• Software
• Services

Robotic drilling machines carry out drilling processes by adjusting themselves to the hardware requirement that is necessary for the exploration and extraction of oil and gas. These machines can also adjust to different diameters and pipe lengths. The hardware segment will contribute to the maximum market shares in the forthcoming years since the support from hardware enables horizontal and vertical drilling operations with a minimum downtime.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global robots market in oil and gas drilling operations?
• What are the key market trends impacting the growth of the global robots market in oil and gas drilling operations?
• What are the challenges to market growth?
• Who are the key vendors in the global robots market in oil and gas drilling operations?
• What are the market opportunities and threats faced by the vendors in the global robots market in oil and gas drilling operations?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global robots market in oil and gas drilling operations?

Technavio also offers customization on reports based on specific client requirement.

Our market research reports for the industrial automation industry follow a thorough procedure of data collection methodology and present an analysis of fast growing market subdivisions like robotics. This upcoming industry research report on the global robots market in oil and gas drilling operations offers insights into the major trends and evolving drivers inducing the growth of the robotics industry.

Our market research analysis includes primary and secondary research techniques like vendor briefings, telephone and online surveys, webinars, and podcasts, and industry journals and publications to help clients develop active growth strategies and keep pace with the frequently changing market landscape. The market research experts at Technavio also take into account the market forecast, market size, and increasing demand for various robotics products and services and offers an all-inclusive picture of the global robots market in oil and gas drilling operations for the estimated period of 2017-2021.

According to our market research experts, speed, reliability, and precision in operations and lower operational costs may influence the demand for robots in oil and gas drilling operations in the coming years. This upcoming market research report on the global robots market in oil and gas drilling operations also covers vendors like Ensign, Drillmec, SCHRAMM, and Robotic Drilling Systems. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this industry report on the global robots market in oil and gas drilling operations also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry report on the global robots market in oil and gas drilling operations also offers insights into fast-growing segments within the robotics industry, including sectors like automation. Furthermore, this market report also presents visions into the varying competitive landscape and gives clients a realistic picture of the future direction of the industry.

Our market research methodology for the robots market in oil and gas drilling operations

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.