Robotic Drilling Market Application (Onshore and Offshore), Installation (New Builds and Retrofits), Components (Hardware and Software), and Region (North America, Asia Pacific, Europe, Middle East) - Global Forecast to 2023

  • ID: 4575967
  • Report
  • Region: Global, Asia, Asia Pacific, Europe, Middle East, North America, United States
  • 112 Pages
  • Markets and Markets
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The robotic drilling market is estimated to reach USD 923.2 million by 2023, at a CAGR of 7.01% from 2018 to 2023.

FEATURED COMPANIES

  • Abraj Energy
  • Drillform Technical
  • Drillmec
  • Ensign Energy Services
  • Huisman
  • Nabors – Rds
  • MORE

“The robotic drilling market is estimated to grow at a CAGR of 7.01% from 2018 to 2023.”

The robotic drilling market is estimated to reach USD 923.2 million by 2023, at a CAGR of 7.01% from 2018 to 2023. This market growth is driven by the increased drilling activities due to the development of unconventional hydrocarbon resources and the adoption of automation and robotics in oil and gas drilling, which results in higher efficiency drilling and improved safety in rigs. However, the lack of interoperability of rig control systems used in robotic drilling act as a restraint for the market growth.

“The onshore drilling segment of the robotic drilling market, by application, is expected to grow at a higher CAGR from 2018 to 2023.”

The onshore drilling market is expected to grow at a higher CAGR during the forecast period. The growth of the market can be attributed to the rise in unconventional drilling activities and penetration of automation in onshore drilling in countries such as the US, China, and Canada.

“North America: the largest robotic drilling market.”

North America is estimated to dominate the global robotic drilling market during the forecast period due to the increase in drilling activities in the US and Canada. The US is the largest market in North America and is focused on developing its shale gas resources to increase its oil and gas production, coupled with high adoption of automation and robotics in drilling.  Canada is the other key market in North America. The country has an abundance of conventional and unconventional sources of natural gas, including tight gas and shale gas, leveraging its drilling automation technology for extracting these resources.

Breakdown of primaries

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess market prospects.

The distribution of primary interviews is as follows:

  • By Company Type: Tier 1 - 36%, Tier 2 - 40%, and Tier 3 - 24%
  • By Designation: C-Level - 25%, Director Level - 35%, and Others - 40%
  • By Region: North America - 32%, Asia Pacific - 25%, Europe - 7%, Middle East - 26%, and RoW - 10%

Note: The tiers of the companies have been defined on the basis of their total revenue as of 2016: tier 1 = >USD 1 billion, tier 2 = USD 500 million to USD 1 billion, and tier 3 = <USD 500 million.

Nabors (US), Precision Drilling (Canada), Huisman (US), Weatherford (Switzerland), and National Oilwell Varco (US) are among the leading players in the robotic drilling market.

Research Coverage

The report provides a picture of the robotic drilling market across the oil and gas industry in different regions. It aims at estimating the market size and future growth potential of the market across different segments, namely, component, installation, application, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

For the purpose of this report, the market has been segmented on the basis of installation, component, application, and region, with a focus on industry analysis (industry trends), ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise the basic views on the competitive landscape, emerging and high-growth segments of the robotic drilling market, high-growth regions, and drivers, restraints, challenges, and opportunities pertaining to the market.

The report provides insights on the following pointers:

  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches and developments in the robotic drilling market
  • Market Development: Comprehensive information about the lucrative emerging markets; the report analyzes the markets for robotic drilling across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global robotic drilling market

Why Buy This Report?

  • The report identifies and addresses key solutions for the operators of robotic drilling systems, which would further increase the demand for such drilling solutions.
  • The report helps solution providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
  • The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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FEATURED COMPANIES

  • Abraj Energy
  • Drillform Technical
  • Drillmec
  • Ensign Energy Services
  • Huisman
  • Nabors – Rds
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Regional Scope
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Limitations
2.5 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Robotic Drilling Market During the Forecast Period
4.2 Robotic Drilling Market, By Application
4.3 Robotic Drilling Market, By Components
4.4 Robotic Drilling Market, By Installation
4.5 North American Robotic Drilling Market, By Application

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increased Adoption of Automation in Oil & Gas Industry
5.1.1.2 Improved Operational Efficiency and Less Human Intervention
5.1.2 Restraints
5.1.2.1 Interoperability of Rig Control Systems
5.1.3 Opportunities
5.1.3.1 Improving Safety in Rigs
5.1.3.2 Increased Exploration Actives in Ultra-Deepwater and Arctic Region
5.1.4 Challenges
5.1.4.1 Increasing Data Privacy & Cybersecurity Risk

6 Robotic Drilling Market, By Application
6.1 Introduction
6.2 Onshore
6.3 Offshore

7 Robotic Drilling Market, By Components
7.1 Introduction
7.2 Hardware
7.3 Software

8 Robotic Drilling Market, By Installation
8.1 Introduction
8.2 New Builds
8.3 Retrofits

9 Robotic Drilling Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.3 Europe
9.3.1 Russia
9.3.2 UK
9.3.3 Norway
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Malaysia
9.4.3 Australia
9.4.4 Rest of Asia Pacific
9.5 Middle East
9.5.1.1 Saudi Arabia
9.5.1.2 UAE
9.5.1.3 Oman
9.5.1.4 Rest of Middle East
9.6 Rest of the World
9.6.1.1 Brazil
9.6.1.2 Mexico
9.6.1.3 Rest of RoW

10 Competitive Landscape
10.1 Introduction
10.2 Market Shares of Leading Players & Market Structure
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Mergers & Acquisitions
10.3.3 Investments & Expansions
10.3.4 Contracts & Agreements/ Joint Ventures/Partnerships & Collaborations

11 Company Profile
11.1 Benchmarking
11.2 National Oilwell Varco
11.3 Weatherford International
11.4 Nabors – Rds
11.5 Ensign Energy Services
11.6 Huisman
11.7 Drillmec
11.8 Precision Drilling
11.9 Sekal
11.10 Abraj Energy
11.11 Drillform Technical
11.12 Automated Rig Technologies
11.13 Rigarm

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables
Table 1 Robotic Drilling Market Snapshot
Table 2 Robotic Drilling Market, By Application, 2016–2023 (USD Million)
Table 3 Onshore Application: Robotic Drilling Market Size, By Region, 2016–2023 (USD Million)
Table 4 Offshore Application: Robotic Drilling Market Size, By Region, 2016–2023 (USD Million)
Table 5 Robotic Drilling Market, By Components, 2016–2023 (USD Million)
Table 6 Hardware: Robotic Drilling Market Size, By Region, 2016–2023 (USD Million)
Table 7 Software: Robotic Drilling Market Size, By Region, 2016–2023 (USD Million)
Table 8 Robotic Drilling Market, By Installation, 2016–2023 (USD Million)
Table 9 Ratio of New Builds to Active Rigs in US (2014-2016)
Table 10 Robotic Drilling Market Size, By Region, 2016–2023 (USD Million)
Table 11 Robotic Drilling Market Size, By Country (Top 5), 2016–2023 (USD Million)
Table 12 Fastest Growing Robotic Drilling Market Size, By Country (Top 5), 2016–2023 (USD Million)
Table 13 Fastest Growing Hardware Robotic Drilling Market Size, By Components (Top 5), 2016–2023 (USD Million)
Table 14 North America: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 15 North America: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 16 North America: Robotic Drilling Market Size, By Country, 2016–2023 (USD Million)
Table 17 US: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 18 US: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 19 Canada: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 20 Canada: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 21 Europe: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 22 Europe: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 23 Europe: Robotic Drilling Market Size, By Country, 2016–2023 (USD Million)
Table 24 Russia: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 25 Russia: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 26 UK: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 27 UK: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 28 Norway: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 29 Norway: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 30 Rest of Europe: Robotic Drilling Market Size, By Application, 2016–2023 (USD Millions)
Table 31 Rest of Europe: Robotic Drilling Market Size, By Components, 2016–2023 (USD Millions)
Table 32 Asia Pacific: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 33 Asia Pacific: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 34 Asia Pacific: Robotic Drilling Market Size, By Country, 2016–2023 (USD Million)
Table 35 China: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 36 China: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 37 Malaysia: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 38 Malaysia: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 39 Australia: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 40 Australia: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 41 Rest of Asia Pacific: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 42 Rest of Asia Pacific: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 43 Middle East: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 44 Middle East: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 45 Middle East: Robotic Drilling Market Size, By Country, 2016–2023 (USD Million)
Table 46 Saudi Arabia: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 47 Saudi Arabia: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 48 UAE: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 49 UAE: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 50 Oman: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 51 Oman: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 52 Rest of Middle East: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 53 Rest of Middle East: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 54 Rest of the World: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 55 Rest of the World: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 56 Rest of the World: Robotic Drilling Market Size, By Country, 2016–2023 (USD Million)
Table 57 Brazil: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 58 Brazil: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 59 Mexico: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 60 Mexico: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 61 Rest of RoW: Robotic Drilling Market Size, By Application, 2016–2023 (USD Million)
Table 62 Rest of RoW: Robotic Drilling Market Size, By Components, 2016–2023 (USD Million)
Table 63 Nabors Led the Market for Robotic Drilling in 2017
Table 64 Market Developments, 2014–2018
Table 65 New Product Launches, 2014–2018
Table 66 Mergers & Acquisitions, 2014–2018
Table 67 Investments & Expansions, 2014–2018
Table 68 Contracts & Agreements/ Joint Ventures/Partnerships & Collaborations, 2014–2018

List of Figures
Figure 1 Robotic Drilling Market: Research Design
Figure 2 Bottom-Up Approach
Figure 3 Top-Down Approach
Figure 4 Data Triangulation Methodology
Figure 5 Assumptions of the Research Study
Figure 6 Robotic Drilling Market, By Region (Value), 2018
Figure 7 Robotic Drilling Market, By Application, 2018–2023 (USD Billion)
Figure 8 Robotic Drilling Market, By Region, 2018–2023 (USD Billion)
Figure 9 Growing Adoption of Automation in Drilling Activities Drives the Robotic Drilling Market, 2018–2023
Figure 10 Onshore Segment is Leading the Robotic Drilling, Market, 2018–2023
Figure 11 Hardware Segment Led the Robotic Drilling Market in 2017
Figure 12 Retrofit Segment is Expected to Lead the Robotic Drilling Market During Forecasted Period
Figure 13 US Led the North American Robotic Drilling Market in 2017
Figure 14 Robotic Drilling Market: Drivers, Restraints, Opportunities, & Challenges
Figure 15 West Texas Intermediate (WTI) Crude Oil Price, 2013–2017
Figure 16 World Crude Oil Annual Production vs Consumption, 2011–2016
Figure 17 The Onshore Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 18 The Hardware Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 19 The Retrofit Segment is Expected to Have the Largest Market Share During the Forecast Period
Figure 20 Regional Snapshot (2017): North America Led the Market for Robotic Drilling
Figure 21 North America: the Fastest Growing Robotic Drilling Market, 2018–2023
Figure 22 North America: Robotic Drilling Market Overview
Figure 23 Asia Pacific: Drilling Market Overview
Figure 24 Saudi Arabia Accounts for the Major Share in the Middle East Robotic Drilling Market, 2017
Figure 25 Key Developments in the Robotic Drilling Market, 2014–2018
Figure 26 National Oilwell Varco, Inc.: Company Snapshot
Figure 27 Weatherford International: Company Snapshot
Figure 28 Nabors –RDS: Company Snapshot
Figure 29 Ensign Energy Services: Company Snapshot
Figure 30 Precision Drilling: Company Snapshot

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  • National Oilwell Varco
  • Weatherford International
  • Nabors – Rds
  • Ensign Energy Services
  • Huisman
  • Drillmec
  • Precision Drilling
  • Sekal
  • Abraj Energy
  • Drillform Technical
  • Automated Rig Technologies
  • Rigarm
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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