Global report on Oil and Gas Drilling Automation market.The report will give the past market trends from 2017 and forecast from 2021 to 2026 by considering 2020 a differently. The report forecast that market for Oil and Gas Drilling Automation will reach to XX Bn by 2026 and has given the regional break up by countries.The report has covered the market drivers and different strategies implemented by key players for expansion and to retain their client base by focusing on market leaders, market followers and new entrants in the market or region. The drivers of the market and revenue of each key players in each segment are analysed to give deep insights in brief to make user understand the market scenario in less time. While forecasting for each year, rational behind forecast are given that are supposed to drive or restrain the market. Focus on each players and their sales by unit by brand make this report unique in the industry.
Global Oil and Gas Drilling Automation Market Segment Analysis
By Type, Automated drilling segment is expected to exhibit a significant revenue of $xx Bn in the forecast period.
Drilling for oil and gas is still a process requiring extensive manual work on onshore and offshore drilling platforms. Fully automatic drilling system for largely unmanned drilling operations are being developed by major key players of the market. This will help the industry to save costs while greatly improving reliability and availability of the drilling equipment. This innovative technology is the first step towards more efficient, less risky and more profitable drill floor operations based on digital industrial communication, control and automation. It will also provide a wealth of process data to better understand and optimize the drilling process.
Automated drilling takes a step further, using algorithms to map out wells, make complex calculations and decisions on the fly, and drill for long periods without making costly errors. Many operators predict this technology has the capacity to reduce drilling costs by 30% to 50%, saving owners significant overheads. And by monitoring drilling activity, these devices can cancel out production errors and the lapses of concentration that inevitably come with fatigue induced by long hours on the drilling floor.
Danish drilling leviathan Maersk is also upgrading its offshore platforms and using algorithms to make them more efficient and eco-friendly. The jack-up rig Maersk Intrepid, for instance, will incorporate a NOVOS ADC system that is linked to third-party algorithms to help the drill floor team work more consistently. Adoption of automated drilling by top players is expanding the segment growth, thereby fuelling the market.
By application segment, the market is segmented into on shore and offshore. From oil wells to pipelines, onshore upstream and downstream vendors are seeking to improve their infrastructure to be more efficient. Onshore automation systems must not only address control and report requirements but also mitigate risks and assist producers with process challenges. SCADA (supervisory control and data acquisition) systems are at the heart of most automation efforts both onshore and off. Artificial lift automation is also common onshore. When integrated into one or a series of wells, artificial lift pumping systems can reduce energy consumption, decrease rates of mechanical failure, and improve well production. On shore and off shore applications are also contributing to the oil and gas drilling automation market.
Global Oil and Gas Drilling Automation Market
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Global Oil and Gas Drilling Automation Market Regional Insights
Global Oil and Gas Drilling Automation Market1
The US accounted for over 29.4% of the Global Oil and Gas Drilling Automation Market in 2020
In the US, oil and gas drilling automation market was valued $366.7 Mn in 2020 and is likely to dominate the market in the forecast period. In South American market, Venezuela has the largest proven oil reserves in the world. Columbia has onshore and offshore oil deposits. Ecuador also has a huge market for oil exports. The huge potential for growth in oil & gas production and distribution will boost the automation market in this region. China, the world’s second largest economy is expected to reach a revenue value of $229.4 Mn by 2026 at a CAGR of xx%. The markets in Japan and Canada are expected to showcase a CAGR of xx% and xx% in the forecast period. European market is expected to generate a revenue market value of $229.4 Mn by 2026.
Asia-Pacific is one of the fastest-growing markets in the world, with investments flooding from all around the world. This has put enormous pressure on the oil & gas sector to produce more. The production and import of oil have increased manifold in this region. It has one of the biggest refineries in the world like Reliance Jamnagar Refinery in India and Ulsan Refinery in South Korea. Wireless sensors play an important part in the safety of the equipment and also the people handling it. As a result, the demand for oil and gas automation in this region is expected to grow in the coming years.
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Global Oil and Gas Drilling Automation Market 2
Global Oil and Gas Drilling Automation Market Key Players
• ABB Group
• National Oilwell Varco, Inc.
• Kongsberg Gruppen
• Pason Systems Corp.
• Nabors Industries Ltd.
• Rockwell Automation, Inc.
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The Oil and Gas Drilling Automation market faced several challenges in 2020 including Covid lock-down and sudden decrease in demand however, the demand is expected to normalize in 2021 and is expected to pick up in 2022, which is covered in the report
Oil and Gas Drilling Automation Market Regional Analysis
By region, Oil and Gas Drilling Automation Market is segmented by North America, South America, Europe, Middle East and APAC. The APAC market has further given the deep analysis of ASEAN countries separately in the report.
The report has profiled key players in the market by their size and presence by regions. Since, there are limitation to profile all the kay player, representation is given to companies by region, sales revenue, expenditure on technology, expansion plans, investments received, involved in M&A.
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