TMCnet News
Robots Market in Oil and Gas Drilling Operations - Global Forecast and Opportunity Assessment by TechnavioThe global robots market in oil and gas drilling operations is expected to grow at a CAGR of around 5% during the forecast period, according to Technavio's latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170728005719/en/ 
Technavio has published a new report on the global robots market in oil and gas drilling operations from 2017-2021. (Graphic: Business Wire) In this report, Technavio covers the market outlook and growth prospects of the global robots market in oil and gas drilling operations for 2017-2021. The market is segmented on application, which includes offshore and onshore and by solution which includes hardware, software, and services. The oil and gas industry faces challenges, which are technical and mechanical in nature. These challenges have prevented operators from working safely and seamlessly. Environmental challenges also hinder the productivity of the oil and gas industry, as a major part of operations is carried out manually. However, after the dip in the oil and gas industry in 2014, there has been a shift in the industry from manual operations to automation. Due to the level of risks involved in drilling operations, oil and gas industry players engaged in the drilling and extraction of oil and natural gas are adopting automated machines. Technavio's industrial automation research analysts categorize the global robots market in oil and gas drilling operations into the following segments by regions:
Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. EMEA: largest robots market in oil and gas drilling operations "The EMEA region will witness growth in the production and supply of liquid natural gas, which will meet the growing demand for fuel. The oil and natural gas industry in EMEA is expected to grow, with developments in major export countries, such as Russia, Saudi Arabia, Iraq, the UAE, Kuwait, and Iran. Major companies that contribute largely to the crude oil export share in EMEA are Gazprom, Rosneft, and LUKOIL," says Sushmit Chakraborty, a lead analyst at Technavio for research on robotics. Europe, the Middle East, and Africa have hydrocarbon reserves in abundance. Hence, offshore and onshore exploration of oil and gas are major operations carried out in these regions. However, EMEA witnessed a downfall in oil and gas prices during the year 2014. There has been a downward shift in demand and the production of natural gas and crude oil, which has resulted in the plummet of oil and gas prices. This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Robots market in oil and gas drilling operations in the Americas "The most important consideration during the production of natural gas and oil is the implementation of methods, which can prevent the degradation of the environment. This has resulted in the adoption of automated machines. There has been a steady adoption of robotic drilling machines in the Americas, which provides efficiency during the exploration and extraction of oil and natural gas," adds Sushmit. The oil and gas industry involves substantial risks and is highly capital intensive. Companies involved in onshore and offshore exploration activities are in need for technologies that can enhance production at minimum operational costs. The Americas will not witness new mergers and acquisitions due to financial constraints. Robots market in oil and gas drilling operations in APAC The oil and gas industry is witnessing volatile and low prices. The market is uncertain because of which there is a slowdown in new projects and investments in oil and gas exploration. APAC is focusing on serving the current demand for oil and gas for energy generation. Southeast Asian countries are rich in oil and gas reserves. Countries, such as Vietnam and Indonesia, are known for their natural gas reserves. China, being the largest revenue contributor to the oil and gas industry, displays a high potential for exploration. The top vendors in the global robots market in oil and gas drilling operations highlighted in the report are:
Browse Related Reports:
About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
View source version on businesswire.com: http://www.businesswire.com/news/home/20170728005719/en/ |
