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).
Based 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.
Based 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
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“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.
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