Oil and Gas Drilling Automation Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR40106
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The oil and gas drilling automation market size has the potential to grow by USD 206.70 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.64%. 

This report provides a detailed analysis of the market by application (onshore and offshore), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • ABB Ltd.
  • Akastor ASA
  • Ensign Energy Services Inc.
  • Honeywell International Inc.
  • Kongsberg Gruppen ASA
  • Nabors Industries Ltd.
  • National Oilwell Varco Inc.
  • Rockwell Automation Inc.
  • Schlumberger Ltd.
  • Siemens AG

 

The oil and gas drilling automation market is fragmented and the vendors are deploying growth strategies such as distinguishing their product and service offerings through a clear and unique value proposition to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as growth in shale oil production to achieve growth opportunities. However, factors such as complexities in system integration will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the oil and gas drilling automation market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This oil and gas drilling automation market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Oil and Gas Drilling Automation Market: Key Drivers and Trends

  • Rapid growth in the production of shale oil and gas over the past few years has increased the adoption of drilling automation in the oil and gas industry.
  • As the extraction of shale oil and gas involves multiple complexities, vendors have started offering advanced automated drilling equipment with better designs.
  • A few vendors, such as RigMinder and Schlumberger, offer automated drilling solutions exclusively for shale oil and gas extraction.
  • The adoption of drilling automation solutions is also increasing in offshore oil and gas projects. This is because automated drilling solutions are making operations efficient in harsh mid-water and deep-water oil and gas drilling environments.
  • The adoption of IoT is one of the significant oil and gas drilling automation market trends.
  • End-users are adopting IoT technology to improve in-depth monitoring and data capturing during oil and gas drilling operations.
  • IoT enables oil rig operators and refineries to monitor key performance parameters such as pipe pressure and flow rate.
  • Advances in connected technologies such as low-power wide-area network (LPWAN) enable connectivity between monitoring sensors in remote offshore applications.
  • These factors will increase the adoption of IoT in drilling activities, which will require automated technology for seamless operations.

 

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Oil and Gas Drilling Automation Market: Segmentation by Geography

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31% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for oil and gas drilling automation in North America. However, market growth in North America will be slower than the growth of the market in other regions.

Recovery in crude oil prices and the significant growth in shale oil production in the US will facilitate the oil and gas drilling automation market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Oil and Gas Drilling Automation Market: Segmentation by Application

Oil-And-Gas-Drilling-Automation-Market-Market-Share-by-Application-2020-2025

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As onshore drilling involves the setting up of oil rigs and drilling of oil wells on land surfaces, these projects require lower initial costs and lesser time in comparison to offshore drilling. Additionally, the availability of a diverse range of drilling equipment for onshore O&G applications has been boosting the growth potential of automated onshore drilling solutions. 

Fetch actionable market insights on post COVID19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the oil and gas drilling automation market size.

 

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Oil and Gas Drilling Automation Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive oil and gas drilling automation market growth during the next five years
  • Precise estimation of the oil and gas drilling automation market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the oil and gas drilling automation industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of oil and gas drilling automation market vendors

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Oil And Gas Drilling Automation Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2%

Market growth 2021-2025

$ 206.70 million

Market structure

Fragmented

YoY growth (%)

0.96

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 31%

Key consumer countries

US, Canada, China, Saudi Arabia, and Australia

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Akastor ASA, Ensign Energy Services Inc., Honeywell International Inc., Kongsberg Gruppen ASA, Nabors Industries Ltd., National Oilwell Varco Inc., Rockwell Automation Inc., Schlumberger Ltd., and Siemens AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The oil and gas drilling automation market growth will increase by $206.70 million during 2020-2025.
The oil and gas drilling automation market is expected to grow at a CAGR of 1.64% during 2020-2025.
Technavio has segmented the oil and gas drilling automation market by application (Onshore and Offshore) and geographic (North America, Europe, APAC, MEA, and South America).
ABB Ltd., Akastor ASA, Ensign Energy Services Inc., Honeywell International Inc., Kongsberg Gruppen ASA, Nabors Industries Ltd., National Oilwell Varco Inc., Rockwell Automation Inc., Schlumberger Ltd., Siemens AG are a few of the key vendors in the oil and gas drilling automation market.
North America will register the highest growth rate of 31.09% among the other regions. Therefore, the oil and gas drilling automation market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the oil and gas drilling automation market growth are:
  • Oil and gas price recovery
The oil and gas drilling automation market vendors should focus on grabbing business opportunities from the onshore segment as it accounted for the largest market share in the base year.
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