Forecast Period | 2023-2028 |
Market Size (2022) | USD 18.11 Billion |
CAGR (2023-2028) | 10.7% |
Market Size (2028) | USD 32.97 Billion |
Fastest Growing Segment | Offshore |
Largest Market | North America |
Global Oil & Gas Drilling Automation market
Increasing Production of Shale Oil Driving the Market in the Forecast Period
Increased well complexity, access to sparse expert resources, knowledge transfer as a result of knowledgeable workers leaving their jobs, data saturation, and environmental concerns, all helping in driving the market. The drilling operation is more effective in a shorter period of time. Due to this, corporations are particularly interested in boosting the availability and dependability of the hardware they use to operate their company.
In recent years, shale oil and gas production has increased globally, which is a positive thing for the oil and gas industry. The production of shale oil has been growing in nations like the US. The drilling and extraction of shale oil and gas tend to present a number of difficulties, including the need to comply to strict compliance standards, prepare wells, and build and operate equipment.
Drilling processes may be developed, implemented, integrated, and started more quickly with the help of automated drilling systems. Manufacturers are being compelled to provide reducing automated drilling solutions particularly for shale oil and gas extraction projects as a result of the increase in shale oil production. Therefore, it is anticipated that throughout the projection period, the quick increase in shale oil production would favorably impact market growth.
Rising Trend of Robotic Drilling Systems (RDS) Propelling the Market Growth
Nowadays, people are moving towards robotic drilling system due to which market is expected to grow further in future. For instance, In Stavanger, Norway, Robotic Drilling Systems (RDS) has constructed the first completely autonomous robotic oil drilling rig in history. Multiple robots are controlled by the extremely sophisticated rig to conduct drilling operations. RDS searched the globe for robotics software that was sophisticated enough to synchronize over 100 axes of motion in real-time and reliable enough for oil drilling operations. Actin by Energid was the only piece of software that could handle the job.
The expectation that a human can better process data and make better decisions, as well as the fact that drilling activity takes place in hazardous working conditions above ground and down hole with high temperature, high pressure (HTHP) formations, etc. are major factors restraining the Oil and Gas Drilling Automation Market. These issues are compounded by the difficulty of locating control equipment and sensors to operate in this environment.
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Market Segment
The
Market Players
The main market players in Global Oil & Gas Drilling Automation
Recent Developments
- InNovember 2021, Petrobras granted Seadrill Limited’s two contracts totaling USD549 million for the West Carina and West Tellus rigs, which will operate on theBzios field offshore Brazil.
- RoboticDrilling Systems, established in Norway, specializes in creating floor-mountedautonomous robotic drilling rigs for use in industrial drilling. The businesscreated the DFR-1500 drill floor robot, which has full control over theoperation of the rig and a lift capacity of 1500 kg at a 3 m extension. Drill-FloorRobot, Robotic Pipe Handler, Electric Roughneck, and Multi-Size Elevator arethe four devices that make up the drill floor system. A companion piece ofsoftware that may be used to operate the robot is included. The software'suser-friendly "drag and drop" function makes programming and visualizationof the robot's actions simpler.
- For theWest Carina and West Tellus rigs, which will work on the Bzios field offshoreBrazil, Petrobras awarded Seadrill Limited two contracts totaling USD 549million, in November 2021.
Attribute | Details |
Base Year | 2022 |
Historic Data | 2018 – 2022 |
Estimated Year | 2023 |
Forecast Period | 2024– 2028 |
Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2024-2028 |
Report coverage | Revenue forecast, company share, growth factors, and trends |
Segments covered | By Product By Deployment By Offering |
Regional scope | North America, Asia-Pacific, Europe, South America, Middle East |
Country scope | United States; Canada; Mexico; China; India; Japan; South Korea; Australia; Singapore; Malaysia; Germany; United Kingdom; France; Italy; Spain; Brazil; Argentina; Colombia; Saudi Arabia; South Africa; UAE; Kuwait; Turkey |
Key companies profiled | Schlumberger Limited, Halliburton Company, National Oilwell Varco Inc, Baker Hughes Company, Weatherford International Inc, Rockwell Automation Inc, ABB Limited, Nabors Industries Limited, Autonomous Solutions, Inc, Pason Systems Corporation |
Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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