Global Robots Market in Oil and Gas Drilling Operations 2017-2021
About Robots in Oil and Gas Drilling Operations
The market deals with advanced automated machines and robotic units that carry out drilling of oil fields and connect drill pipes located under the surface, thereby assisting industrial workers in onshore and offshore operations. These advanced automated machines and robotic units are also called fully automated drilling rigs and robotic drilling systems. The global robots market in oil and gas drilling operations include offshore and onshore applications.Technavio’s analysts forecast the global robots market in oil and gas drilling operations to grow at a CAGR of 4.68% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global robots market in oil and gas drilling operations for 2017-2021. To calculate the market size, the report considers installations, retrofit, replacement, spares, aftermarket, and services market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Robots Market in Oil and Gas Drilling Operations 2017-2021
Technavio recognizes the following companies as the key players in the global robots market in oil and gas drilling operations: Drillmec, Ensign, Nabors, and Schramm.
Other Prominent Vendors in the market are: Baker Hughes, Robotic Drilling Systems, DMC, Kuwait Drilling Company, Rockwell Automation, and Voith (Part of Triton).
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is fully automated drilling rigs. The oil and gas industry involves hazardous applications, which utilizes surface tools for ground drilling operations. Technological innovations implemented in the oil and gas industry makes the extraction of fossil fuels and natural gas possible, which were otherwise not accessible by manually operated machines. This industry has incorporated various automated machines which are used for different applications.”
According to the report, one driver in the market is lower operational cost. The implementation of robots in industries has drastically reduced operational costs. Robotic machines reduce operation cycle time, minimize process time, and improve quality. These machines are equipped with motors, sensors, and controllers that allow operators to precisely proceed with drilling operations until the desired results are achieved. Since these machines are robotic and fully automated, they operate autonomously depending on the pre-set programming and allow industries to carry out labor-intensive drilling operations without posing any risk to human life.
Further, the report states that one challenge in the market is high implementation cost. The implementation of automated drilling rigs involves heavy investments when compared with manual labor and traditional machines. These automated rigs are technologically advanced and can reduce the operational cost. However, it has been witnessed that the oil and gas industry is stringent in terms of investing in advanced technologies. The oil and gas industry witnessed a downfall in 2014, which affected investments in technology by countries which are major exporters of oil.
Drillmec, Ensign, Nabors, Schramm, Baker Hughes, Robotic Drilling Systems, DMC, Kuwait Drilling Company, Rockwell Automation, and Voith (Part of Triton).