Global Inspection Robots Market in the Oil and Gas Industry Market 2015-2019
About inspection robots
A robot is a machine designed to perform one or more complex tasks precisily and accuratly with minimum supervision. An inspection robot is used for the purpose of inspection, monitoring, and surveillance. All structures in the oil and gas industry throughout their operational life are exposed to harsh environments, such as extreme temperatures, high pressure, and corrosive chemicals, leading to heavy wear and tear, causing leakages, cracks, and dents.
Inspection robots play an important part in the oil and gas industry by taking the invaluable role of inspection, monitoring, and surveillance of complex structures in oil and gas, and, thereby, averting any disasters that may occur otherwise. The use of these robots help in reducing human intervention, increase operational efficiency, reduces cost and improves safety.
Technavio's analysts forecast the global inspection robots market in the oil and gas industry to grow at a CAGR of 20.46% over the period 2014-2019.
Covered in this report
The report covers the current scenario and the growth prospects of the global inspection robots market in the oil and gas industry for the period of 2015-2019. To calculate the market size, the report considers revenue generated through the sales of various inspection robots in the oil and gas industry.
The market is divided into the following segments based on product types:
Technavio Announces the Publication of its Research Report – Global Inspection Robots Market in Oil and Gas Industry 2015-2019
Technavio recognizes the following companies as the key players in the Global Inspection Robots Market in Oil and Gas Industry: Alstom Inspection Robots, Honeybee Robotics and Inuctun Services
Other Prominent Vendors in the market are: FMC Technologies, Hydrovision, IKM Subsea and International Submarine Engineering
Commenting on the report, an analyst from Technavio’s team said: “Companies are diverting substantial funds to innovate and improve the quality and technology of sensors and achieve a better competitive market edge. For example, in collaboration with the oil and gas giant Shell, Carnegie Mellon University developed the Sensabot especially to withstand severe weather and extremes of temperatures with numerous sensors to inspect oil and gas equipment and over ground pipelines.”
According to the report, the increase in offshore drilling activity is one of the major drivers in the global inspection robots market in the oil and gas industry. There is increased interest in extracting oil and gas from offshore to ensure supply to meet the increasing worldwide demand especially due to the continued depletion of onshore resources. Offshore oil and gas explorations represent an untapped yet expensive and inaccessible supply of valuable resources.
Further, the report states that the ROV has some disadvantages like limited depth range due to the limitation of the length of the umbilical cable. It may not be feasible to operate in shallow waters as the equipment needs a hard boat to operate. The equipment may also not be able to function well in areas with strong water currents and water turbulence. ROVs can themselves interfere with the water sediments.
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