advancement in robotic drilling, thereby supplementing the adoption & growth robotic drilling in the
market.
Rising drilling activities worldwide is one of the key drivers augmenting the market growth globally. For
instance, as per the India Brand Equity Foundation, ONGC (Oil and Natural Gas Corporation) invested
approx. $2.73 billion on drilling oil and gas wells in 2018-19. Similarly, in Norway about 56 exploration
wells were drilled in 2015 as compared to 51 exploration in 2010. Further, in 2016, Denmark
government issued 16 exploration license and Norway awarded license to 13 companies to promote
exploration drilling. Thus, growing drilling activities increases the demand for safety, higher efficiency
and effectiveness, thereby contribute towards the adoption of automation and robotic drilling in
market.
On the basis of segmentation, the Robotic Drilling Market is segmented into application, installation
and component. On the basis of application segment, the market is sub-segmented into onshore and
offshore of which onshore application holds the major share owing to its low capital investment,
operable in dynamic and harsh environment as compared to offshore drilling. The component segment
is classified into software and hardware. The installation segment is diversified into retrofit and new
build. The retrofit segment is expected to dominate installation segment owing to growing need for
improved safety and efficiency of the rigs.
The regional analysis of robotic drilling market is considered for the key regions such as North America,
Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in robotic drilling
market due to increasing shale gas production and high adoption of advanced technologies in drilling
activities. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market
share.
Major Players profiled in the Robotic Drilling Market report incorporate: National Oilwell Varco,
Weatherford International, Nabors-Rds, Ensign Energy Services, Huisman, Drillmec, Precision Drilling,
Sekal, Abraj Energy, Drillform Technical, Automated Rig Technologies, Rigarm
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The objective of the study is to define market sizes of different segments & countries in recent years and
to forecast the values to the coming eight years. The report is designed to incorporate both qualitative
and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving
factors & challenges which will define the future growth of the market. Additionally, the report shall also
incorporate available opportunities in micro markets for stakeholders to invest along with the detailed
analysis of competitive landscape and product offerings of key players.
Key Questions Answered in this Report:
1 What will the market size be in 2023?