Press Release

Oil & Gas Drilling Automation Market to be Dominated by Onshore Segment

Increasing adoption of robotics drilling systems and rising demand of oil and gas globally fueling the market growth in the forecast period.


According to TechSci Research report,
Oil & Gas Drilling Automation Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028F, the Oil & Gas Drilling Automation Market is expected to register robust growth during the forecast period, 2024-2028. Automated drilling systems are being gradually used by the oil and gas sector as a potent tool to boost output, quality, and most crucially, worker safety. Due to this, the market is anticipated to expand throughout the projected period at a high CAGR. Automation of drilling systems refers to the wellbore's real-time dependence on digital technology. It includes surface drilling equipment, remote monitoring, models and simulations used during drilling, as well as downhole tools and systems.


The robotic drilling technology allows for the reduction of rig time per well and the prevention of hazards. Additionally, this system offers advantages including easy installation, reduced noise, and low energy use.


Additionally, the sector has embraced the Internet of Things (IoT) technology, which has been shown to be one of the factors fueling the expansion of the oil and gas drilling automation market. The internet of things (IoT) technology is being used by businesses to gather detailed information about their current operations. IoT is used by refineries and rig operators because it enables them to measure vital performance indicators like pressure and velocity. IoT also delivers precise and timely information on data at remote locations. The drilling automation market is anticipated to be among the largest in North America, and it is anticipated that this area would maintain its dominance in the years to come. The area is home to some of the world's largest oil and gas producing basins, which are ripe for the industry's future expansion.


With the rise in shale oil and gas production in several onshore basins, such as the Permian basin, which has aided in the development of the drilling automation market, the United States is anticipated to be the major consumer of drilling automation in the area. The country's production of shale oil and gas has gradually risen, and this trend may offer a base for boosting drilling automation in multilateral horizontal drilling in shale basins.


Both hardware and software solutions have relatively high startup requirements and lengthy installation processes. Since they have been running without them for a long time, this makes the company hesitant to implement these solutions. In order to keep them operating continuously, maintenance and operating expenditures are also counted. Even though that these solutions frequently increase operational effectiveness, they also raise operating expenses, since they necessitate the hiring of personnel with specialized knowledge in order to understand and evaluate the generated data and predictive models. The possibility that maintenance costs would always be more than revenue is a major hindrance factor for the market growth.


Browse over XX market data Figures spread through XX Pages and an in-depth TOC on the “Global
Oil & Gas Drilling Automation Market"


The Global Oil & Gas Drilling Automation Market is segmented into Product, Deployment, Offering. Based on Product, the market is segmented into Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Manufacturing Execution Systems (MES).  


B
ased on
Deployment, the market is segmented into Onshore and Offshore. Onshore upstream and downstream suppliers are working to increase the efficiency of their infrastructure, from oil wells to pipelines. In addition to meeting control and reporting requirements, onshore automation systems must also help companies overcome process obstacles and reduce risks. The majority of onshore and offshore automation projects are centred around SCADA (supervisory control and data acquisition) systems. Onshore artificial lift automation is also prevalent. Artificial lift pumping systems can enhance well output, lower mechanical failure rates, and minimise energy usage when they are incorporated into a single well or a group of wells. The market for oil and gas drilling automation also benefits from onshore and offshore applications.


B
ased on
Offering, the market is segmented into Hardware, Software. Throughout the projected period, the hardware category is anticipated to maintain a respectable market share, largely because of the prohibitively high costs. Over the course of the next five years, the increasing investments in automation technology will further assist the segment's growth. The demand for automation solutions is expected to increase throughout the forecast period due to their cost-effectiveness and safety, which will lead to a large market expansion for the software sector. The mechanisms in software are responsible for transforming the gathered data into useful information.


Major market players in the Global Oil & Gas Drilling Automation Market are: -

  • 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


Download Free Sample Report


Customers can also request for 10% free customization on this report.


“The offshore segment is anticipated to expand the fastest during the forecast period, and oil and gas production would likely continue to play a significant role in supplying the world's energy needs. It is anticipated that rising technological improvements would support the sector's expansion. The production of gas hydrates may present market participants with an opportunity since it presents new challenges which may require for more advanced drilling automation techniques. Due to the facts market is growing in the future. ",
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.


Global Oil & Gas Drilling Automation Market
–Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018-2028, Segmented By Product (Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Manufacturing Execution Systems (MES)), By Deployment (Onshore, Offshore), By Offering (Hardware, Software), By Region has evaluated the future growth potential of Global Oil & Gas Drilling Automation Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Oil & Gas Drilling Automation Market.


Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

Website: https://www.techsciresearch.com

Relevant News