Canada markets open in 5 hours 44 minutes
  • S&P/TSX

    -146.98 (-0.69%)
  • S&P 500

    -50.03 (-1.10%)
  • DOW

    -313.26 (-0.89%)

    -0.0016 (-0.21%)

    -1.62 (-1.89%)

    -3,801.42 (-7.19%)
  • CMC Crypto 200

    -69.80 (-7.01%)

    -9.30 (-0.50%)
  • RUSSELL 2000

    -38.75 (-1.88%)
  • 10-Yr Bond

    0.0000 (0.00%)
  • NASDAQ futures

    -73.00 (-0.49%)

    +2.61 (+10.94%)
  • FTSE

    -81.63 (-1.08%)
  • NIKKEI 225

    -250.67 (-0.90%)

    -0.0029 (-0.41%)

Robotic Drilling Market size worth $ 967.35 Million, Globally, by 2028 at 6.1% CAGR: Verified Market Research®

·5 min read

Over the forecast period, owing to the rising adoption of automated systems in oil and gas industries, coupled with a focus on lower intervention of humans during the extraction process on account of safety concerns are expected to bolster the growth of the global market.

Jersey City, New Jersey, Dec. 07, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Robotic Drilling Market” By Installation (Retrofit and New Builds), By Component (Software and Hardware), By Application (Onshore and Offshore), and By Geography. According to Verified Market Research, the Global Robotic Drilling Market size was valued at USD 601.85 Million in 2020 and is projected to reach USD 967.35 Million by 2028, growing at a CAGR of 6.1% from 2020 to 2027.

Download PDF Brochure:

Browse in-depth TOC onRobotic Drilling Market

202 - Pages

126 – Tables

37 – Figures

Global Robotic Drilling Market Overview

Robotic drilling decreases human contact during the drilling process while also increasing production speed. Furthermore, during the application process, drilling might create dust or other particles in the air. The use of a robotic driller allows workers to be withdrawn from potentially hazardous environments. As a result, demand for robotic drilling is expected to increase throughout the projection period. The rise in robotic drilling applications for oil and gas exploration operations is driving the robotic drilling market growth rate. One of the main drivers of the robotic drilling market is the increase in automation in the oil and gas industry. Oil and gas industries have been increasingly reliant on automation in recent years since it saves time and money. Several firms are working to bring digitization to the oil fields. As a result, there has been an increase in investment in facility modernization in order to boost efficiency and lower expenditures and timelines.

Rising industrialization, together with increased exploration of unconventional hydrocarbon resources, would have a direct and positive influence on the robotic drilling market’s growth rate. Growth and expansion of the oil and gas sector, particularly in emerging nations, as well as an increase in power generation activities, would pave the way for the robotic drilling market to expand. Another indirect element that would boost the robotic drilling market growth rate is improvements in robotic technology. The COVID-19 pandemic, on the other hand, posed a significant threat to the robotic drilling market’s growth. The rate of expansion of the robotic drilling industry will be slowed by fluctuations in oil and gas prices. Furthermore, high initial investment costs and growing concerns about cyber security may impede the robotic drilling market’s growth.

Key Players

The major players in the market are Huisman Equipment BV, Drillform Technical Services Ltd., Drillmec Inc., Nabors Industries Ltd., National Oilwell Varco, Inc., Ensign Energy Services, Abraj Energy, Automated Rig Technologies, Rigarm, and Precision Drilling.

Verified Market Research has segmented the Global Robotic Drilling Market On the basis of Installation, Component, Application, and Geography.

  • Robotic Drilling Market, By Installation

    • Retrofit

    • New Builds

  • Robotic Drilling Market, By Component

    • Software

    • Hardware

  • Robotic Drilling Market, By Application

    • Onshore

    • Offshore

  • Robotic Drilling Market by Geography

    • North America

      • U.S

      • Canada

      • Mexico

    • Europe

      • Germany

      • France

      • U.K

      • Rest of Europe

    • Asia Pacific

      • China

      • Japan

      • India

      • Rest of Asia Pacific

    • ROW

      • Middle East & Africa

      • Latin America

Browse Related Reports:

Malaysia Robotics Market By Product (Industrial Robots, Service Robots), By End-Use Industry (Automotive, Food And Beverage, Logistics, Electronics, Medical And Healthcare), By Geography, Forecast, 2021-2028

Cleaning Robot Market By Type (Personal Cleaning Robot, Professional Cleaning Robot), By Product (Floor-cleaning Robot, Lawn-cleaning Robot, Pool-cleaning Robot), By Application (Residential, Commercial, Industrial), By Geography, Forecast, 2021-2028

Industry 4.0 Market By Technology (Augmented Reality And Virtual Reality, Internet Of Things, 3D Printing, Artificial Intelligence, Industrial Robotics), By Industry Vertical (Automotive, Electrical And Electronics Equipment, Aerospace, Oil And Gas), By Geography, Forecast, 2021-2028

Robotic Process Automation Market By Process (Automated Solution, Decision Support and Management Solutions, Interaction Solutions), By Operations (Rule-based, Knowledge-based), By Type (Tools, Services), By End User (Banking, Financial Services and Insurance, Retail and Consumer Goods, Healthcare and Pharmaceuticals), By Geography, Forecast, 2021-2028

6 Major Types Of Industrial Robots engineered to offer limitless possibilities

Visualize Robotic Drilling Market using Verified Market Intelligence:-:

Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.

VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.

About Us

Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals, and critical revenue decisions.

Our 250 Analysts and SME’s offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.

We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agriculture industry and Medical Devices from over 100 countries.

CONTACT: Mr. Edwyne Fernandes Verified Market Research® US: +1 (650)-781-4080 UK: +44 (753)-715-0008 APAC: +61 (488)-85-9400 US Toll Free: +1 (800)-782-1768 Email: Web: BI Enabled Platform: Follow Us: LinkedIn | Twitter

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting