The global robotic drilling market is expected to grow from US$ 619.4 Mn in 2017 to US$ 946.6 Mn by 2025 growing at a CAGR of 5.6% from 2018 to 2025.
The global robotic drilling market is experiencing an exponential growth with regards to the innovations, strategic partnerships, investments, and deployment in the current scenario and is anticipated to rise in the coming years. The robotic drilling market consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced product. Companies are also inclined towards technological developments for robotic drilling in order to deliver different solutions for the customers to solve the complex situations and put in-line the driller operations strategies with different hardware and software combination solutions. The major factors boosting the growth of robotic drilling market are the increase in global oil demands and surge in need for safer and high-quality drilling system.
Robotic Drilling Market- Regional Analysis
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Market Insights
Retrofits in North America to gain traction during the forecast period
Owing to the limited oil and gas reserves in the world, the market for new build drilling equipment would saturate in the coming years. However, retrofitting on the equipment is anticipated to gather pace as the market for new build saturates. A robotic drilling system comprises of various components. Timely inspections, and repair work ensures lesser downtimes of the operations and thereby yield better productivity. Weather conditions in the North American region also result in the wear and tear of the drilling equipment, and therefore, retrofits installation by robotic drilling players foresee a steady opportunity during the forecast period. Further, higher technological advancements in North America, and especially in the US region favors healthy growth of robotic drilling market.
Onshore drilling applications in Middle East and Africa to garner largest market share during the forecast period
Middle East and African market is characterized by huge oil reserves in the Sub-Saharan regions. The Middle East continues to witness challenges including drilling efficiency improvement, workforce development, security & safety, and maintenance of equipment. Nonetheless, the growth in the offshore drilling activities is expected to bolster the growth of the robotic drilling market. The oil companies in Qatar and the UAE have ramped up in new projects of drilling. The rigs used for drilling have evolved over the years for improving both safety and operational aspects. The demand for onshore drilling is growing owing to the lower costs incurred for onshore drilling activities. The new innovations and advanced technologies also boost the onshore robotic drilling market as several companies are focusing towards the development of the entire ecosystem.
Robotic Drilling Market by Geography
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Robotic Drilling Market: Strategic Insights
Market Size Value in US$ 619.4 Million in 2017 Market Size Value by US$ 946.6 Million by 2025 Growth rate CAGR of 5.6% from 2018-2025 Forecast Period 2018-2025 Base Year 2018
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Robotic Drilling Market: Strategic Insights
| Market Size Value in | US$ 619.4 Million in 2017 |
| Market Size Value by | US$ 946.6 Million by 2025 |
| Growth rate | CAGR of 5.6% from 2018-2025 |
| Forecast Period | 2018-2025 |
| Base Year | 2018 |
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Market initiative was observed as the most adopted strategy in global robotic drilling Market. Few of the recent strategies by some of the players in robotic drilling market landscape are listed below-
2018:The NOV's MPowerD managed pressure drilling group has offers an integrated MPowerD MPD control system on Cyberbase drilling control system to manage the operations of deepwater drillship. An integration of managed pressure drilling controls into Cyberbase system facilitates efficiency of MPD and safety during the course of drilling to the drilling contractor.
2018:Ensign Energy Services Inc. unveiled its plan to acquire all of the issued and outstanding common shares of Trinidad Drilling Ltd. for US$1.68 in cash per Common Share.
2018:Huisman is awarded with a contract from China Merchants Heavy Industries (CMHI) for engineering and fabrication of a drilling system. The system would be combined and deployed on the moored drilling semi-submersible which is constructed at CMHI Haimen. The drilling system would be used in oil & gas drilling activities in Asia, majorly South East Asia.
Global Robotic Drilling Market Segmentation
By Component
- Hardware
- Software
By Installation type
- New Build
- Retrofit
By Application
- Onshore
- Offshore
By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- UK
- Spain
- Italy
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- Rest of APAC
Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Rest of SAM
Company Profiles
- Nabors Industries Ltd.
- Rigarm
- National Oilwell Varco, Inc.
- Sekal AS
- Huisman Equipment B.V.
- Automated Rig Technologies Ltd.
- Drillmec Inc.
- Ensign Energy Services Inc.
- Abraj Energy Services
- Drillform Technical Services Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Installation Type , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1. INTRODUCTION 14
1.1 SCOPE OF THE STUDY 14
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 14
2. KEY TAKEAWAYS 16
3. ROBOTIC DRILLING MARKET LANDSCAPE 18
3.1 MARKET OVERVIEW 18
3.2 MARKET SEGMENTATION 19
3.2.1 Global Robotic Drilling Market - By Component 20
3.2.2 Global Robotic Drilling Market - By Installation type 20
3.2.3 Global Robotic Drilling Market - By Application 20
3.2.4 Global Robotic Drilling Market - By Geography 20
3.3 PEST ANALYSIS 22
3.3.1 North America - PEST Analysis 22
3.3.2 Europe - PEST Analysis 24
3.3.3 Asia Pacific - Pest Analysis 26
3.3.4 Middle East and Africa - PEST Analysis 28
3.3.5 South America - PEST Analysis 30
4. ROBOTIC DRILLING MARKET - KEY INDUSTRY DYNAMICS 32
4.1 KEY MARKET DRIVERS 32
4.1.1 Increasing oil demands globally propelling integration of automation in the oil & gas sector 32
4.1.2 Growing needs for a safer and high quality drilling system reducing the human interventions 32
4.2 KEY MARKET RESTRAINTS 33
4.2.1 Volatility of the oil & gas industry 33
4.3 KEY MARKET OPPORTUNITIES 33
4.3.1 Higher emphasis being laid for oil extraction in the Arctic based deep-water regions 33
4.3.2 Technological innovations to continually create more opportunities 34
4.4 FUTURE TRENDS 34
4.4.1 Large number of industry partnerships with different stakeholders 34
4.5 IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS 35
5. ROBOTIC DRILLING - GLOBAL MARKET ANALYSIS 36
5.1 GLOBAL ROBOTIC DRILLING MARKET OVERVIEW 36
5.2 GLOBAL ROBOTIC DRILLING MARKET FORECAST AND ANALYSIS 37
6. ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 -BY COMPONENT 38
6.1 OVERVIEW 38
6.2 GLOBAL ROBOTIC DRILLING MARKET BREAKDOWN, BY COMPONENT, 2017 & 2025 38
6.3 HARDWARE MARKET 39
6.3.1 Overview 39
6.3.2 Hardware Market Forecasts and Analysis 39
6.4 SOFTWARE MARKET 40
6.4.1 Overview 40
6.4.2 Software Market Forecasts and Analysis 40
7. GLOBAL ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE 41
7.1 OVERVIEW 41
7.2 GLOBAL ROBOTIC DRILLING MARKET BREAKDOWN, BY INSTALLATION TYPE, 2017 & 2025 41
7.3 NEW BUILD MARKET 42
7.3.1 Overview 42
7.3.2 New Build Market Forecasts and Analysis 42
7.4 RETROFIT MARKET 43
7.4.1 Overview 43
7.4.2 Retrofit Market Forecasts and Analysis 43
8. GLOBAL ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION 44
8.1 OVERVIEW 44
8.2 GLOBAL ROBOTICS DRILLING MARKET BREAKDOWN, BY APPLICATION, 2017 & 2025 44
8.3 ONSHORE MARKET 45
8.3.1 Overview 45
8.3.2 Onshore Market Forecasts and Analysis 45
8.4 OFF SHORE MARKET 46
8.4.1 Overview 46
8.4.2 Off Shore Market Forecasts and Analysis 46
9. ROBOTIC DRILLING MARKET - GEOGRAPHICAL ANALYSIS 47
9.1 OVERVIEW 47
9.2 NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 47
9.2.1 Overview 47
9.2.2 North America Robotic Drilling Market Breakdown by Key Countries 48
9.2.2.1 U.S. Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 49
9.2.2.2 Canada Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 50
9.2.2.3 Mexico Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 51
9.2.3 North America Robotic Drilling Market Breakdown by Component 51
9.2.4 North America Robotic Drilling Market Breakdown by Installation Type 52
9.2.5 North America Robotic Drilling Market Breakdown by Application 52
9.3 EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 54
9.3.1 Overview 54
9.3.2 Europe Robotic Drilling Market Breakdown by Key Countries 55
9.3.2.1 France Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 56
9.3.2.2 U.K Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 57
9.3.2.3 Italy Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 58
9.3.2.4 Germany Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 59
9.3.2.5 Spain Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 60
9.3.2.6 Rest of Europe Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 61
9.3.3 Europe Robotic Drilling Market Breakdown by Component 62
9.3.4 Europe Robotic Drilling Market Breakdown by Installation type 63
9.3.5 Europe Robotic Drilling Market Breakdown by Application 64
9.4 APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 65
9.4.1 Overview 65
9.4.2 APAC Robotic Drilling Market Breakdown by Key Countries 66
9.4.2.1 Australia Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 67
9.4.2.2 China Robotic Drilling Market Revenue and Forecast to 2025 (US$ Mn) 68
9.4.2.3 India Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 69
9.4.2.4 Japan Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 70
9.4.2.5 Rest of APAC Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 71
9.4.3 APAC Robotic Drilling Market Breakdown by Component 71
9.4.4 APAC Robotic Drilling Market Breakdown by Installation type 72
9.4.5 APAC Robotic Drilling Market Breakdown by Application 73
9.5 MIDDLE EAST & AFRICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 74
9.5.1 Overview 74
9.5.2 MEA Robotic Drilling Market Breakdown by Key Countries 75
9.5.2.1 South Africa Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 76
9.5.2.2 Saudi Arabia Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 77
9.5.2.3 UAE Robotic Drilling Market Revenue and Forecast to 2025 (US$ Mn) 78
9.5.2.4 Rest of MEA Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 79
9.5.3 MEA Robotic Drilling Market Breakdown by Component 79
9.5.4 MEA Robotic Drilling Market Breakdown by Installation type 80
9.5.5 MEA Robotic Drilling Market Breakdown by Application 81
9.6 SOUTH AMERICA (SAM) ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 82
9.6.1 Overview 82
9.6.2 SAM Robotic Drilling Market Breakdown by Key Countries 83
9.6.2.1 Brazil Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 84
9.6.2.2 Rest of SAM Robotic Drilling Market Revenue and Forecasts to 2025 (US$ Mn) 85
9.6.3 SAM Robotic Drilling Market Breakdown by Component 85
9.6.4 SAM Robotic Drilling Market Breakdown by Installation type 86
9.6.5 SAM Robotic Drilling Market Breakdown by Application 87
10. INDUSTRY LANDSCAPE 88
10.1 MERGER & ACQUISITION 88
10.2 MARKET INITIATIVE 89
10.3 NEW DEVELOPMENT 90
11. COMPETITIVE LANDSCAPE 91
11.1 COMPETITIVE PRODUCT MAPPING 91
11.2 MARKET POSITIONING - GLOBAL TOP 5 PLAYERS 93
12. GLOBAL ROBOTIC DRILLING - COMPANY PROFILES 94
12.1 NABORS INDUSTRIES LTD. 94
12.1.1 Key Facts 94
12.1.2 Business Description 94
12.1.3 Financial Overview 95
12.1.4 SWOT Analysis 96
12.1.5 Key Developments 98
12.2 RIGARM 99
12.2.1 Key Facts 99
12.2.2 Business Description 99
12.2.3 Financial Overview 99
12.2.4 SWOT Analysis 100
12.2.5 Key Developments 101
12.3 NATIONAL OILWELL VARCO, INC. 102
12.3.1 Key Facts 102
12.3.2 Business Description 102
12.3.3 Financial Overview 103
12.3.4 SWOT Analysis 103
12.3.5 Key Developments 105
12.4 SEKAL AS 106
12.4.1 Key Facts 106
12.4.2 Business Description 106
12.4.3 Financial Overview 106
12.4.4 SWOT Analysis 107
12.4.5 Key Developments 108
12.5 HUISMAN EQUIPMENT B.V. 109
12.5.1 Key Facts 109
12.5.2 Business Description 109
12.5.3 Financial Overview 109
12.5.4 SWOT Analysis 110
12.5.5 Key Developments 111
12.6 AUTOMATED RIG TECHNOLOGIES LTD. 112
12.6.1 Key Facts 112
12.6.2 Business Description 112
12.6.3 Financial Overview 112
12.6.4 SWOT Analysis 113
12.6.5 Key Developments 114
12.7 DRILLMEC INC. 115
12.7.1 Key Facts 115
12.7.2 Business Description 115
12.7.3 Financial Overview 115
12.7.4 SWOT Analysis 116
12.7.5 Key Developments 117
12.8 ENSIGN ENERGY SERVICES INC 118
12.8.1 Key Facts 118
12.8.2 Business Description 118
12.8.3 Financial Overview 119
12.8.4 SWOT Analysis 119
12.8.5 Key Developments 121
12.9 ABRAJ ENERGY SERVICES 122
12.9.1 Key Facts 122
12.9.2 Business Description 122
12.9.3 Financial Overview 122
12.9.4 SWOT Analysis 123
12.9.5 Key Developments 124
12.10 DRILLFORM TECHNICAL SERVICES LTD. 125
12.10.1 Key Facts 125
12.10.2 Business Description 125
12.10.3 Financial Overview 125
12.10.4 SWOT Analysis 126
12.10.5 Key Developments 127
13. APPENDIX 128
13.1 ABOUT THE INSIGHT PARTNERS 128
13.2 GLOSSARY OF TERMS 129
13.3 METHODOLOGY 130
13.3.1 Coverage 130
13.3.2 Secondary Research 130
13.3.3 Primary Research 131
LIST OF TABLES
TABLE 1. GLOBAL ROBOTIC DRILLING SYSTEM MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 37
TABLE 2. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 51
TABLE 3. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 52
TABLE 4. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 53
TABLE 5. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 62
TABLE 6. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 63
TABLE 7. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 64
TABLE 8. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 72
TABLE 9. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 72
TABLE 10. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 73
TABLE 11. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 80
TABLE 12. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 80
TABLE 13. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 81
TABLE 14. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY COMPONENT (US$ MN) 86
TABLE 15. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY INSTALLATION TYPE (US$ MN) 86
TABLE 16. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 - BY APPLICATION (US$ MN) 87
TABLE 17. GLOSSARY OF TERM: ROBOTIC DRILLINGS MARKET 129
LIST OF FIGURES
FIGURE 1. RETROFIT NORTH AMERICA ROBOTIC DRILLING MARKET, 2017 & 2025, US$ MN 16
FIGURE 2. ONSHORE MEA ROBOTIC DRILLING MARKET BY APPLICATION SEGMENT, 2017 & 2025, IN US$ MN 17
FIGURE 3. ROBOTIC DRILLING MARKET SEGMENTATION 19
FIGURE 4. ROBOTIC DRILLING MARKET SEGMENTATION - GEOGRAPHIC 19
FIGURE 5. ROBOTIC DRILLING MARKET IMPACT ANALYSIS OF DRIVER AND RESTRAINTS 35
FIGURE 6. GLOBAL ROBOTIC DRILLING MARKET 36
FIGURE 7. GLOBAL ROBOTIC DRILLING MARKET FORECAST AND ANALYSIS 37
FIGURE 8. GLOBAL ROBOTIC DRILLING MARKET BREAKDOWN, BY COMPONENT, 2017 & 2025 (%) 38
FIGURE 9. GLOBAL HARDWARE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 39
FIGURE 10. GLOBAL SOFTWARE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 40
FIGURE 11. GLOBAL ROBOTIC MARKET BREAKDOWN, BY INSTALLATION TYPE, 2017 & 2025 (%) 41
FIGURE 12. GLOBAL NEW BUILD MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 42
FIGURE 13. GLOBAL RETROFIT MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 43
FIGURE 14. GLOBAL ROBOTIC DRILLING MARKET BREAKDOWN, BY APPLICATION, 2017 & 2025 (%) 44
FIGURE 15. GLOBAL ONSHORE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 45
FIGURE 16. GLOBAL OFF SHORE MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 46
FIGURE 17. GLOBAL ROBOTIC DRILLING MARKET REVENUE AND FORECASTS 2017 & 2025 (US$ MN) 47
FIGURE 18. NORTH AMERICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 48
FIGURE 19. NORTH AMERICA ROBOTIC DRILLING MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 48
FIGURE 20. ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 49
FIGURE 21. CANADA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 50
FIGURE 22. MEXICO ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 51
FIGURE 23. NORTH AMERICA ROBOTIC DRILLING MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 51
FIGURE 24. NORTH AMERICA ROBOTIC DRILLING MARKET BREAKDOWN BY INSTALLATION TYPE, 2017 & 2025 (%) 52
FIGURE 25. NORTH AMERICA ROBOTIC DRILLING MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 53
FIGURE 26. EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 54
FIGURE 27. EUROPE ROBOTIC DRILLING MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 55
FIGURE 28. FRANCE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 56
FIGURE 29. U.K ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 57
FIGURE 30. ITALY ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 58
FIGURE 31. GERMANY ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 59
FIGURE 32. SPAIN ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 60
FIGURE 33. REST OF EUROPE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 61
FIGURE 34. EUROPE ROBOTIC DRILLING MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 62
FIGURE 35. EUROPE ROBOTIC DRILLING MARKET BREAKDOWN BY INSTALLATION TYPE, 2017 & 2025 (%) 63
FIGURE 36. EUROPE ROBOTIC DRILLING MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 64
FIGURE 37. APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 65
FIGURE 38. APAC ROBOTIC DRILLING MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 66
FIGURE 39. AUSTRALIA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 67
FIGURE 40. CHINA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 68
FIGURE 41. INDIA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 69
FIGURE 42. JAPAN ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 70
FIGURE 43. REST OF APAC ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 71
FIGURE 44. APAC ROBOTIC DRILLING MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 71
FIGURE 45. APAC ROBOTIC DRILLING MARKET BREAKDOWN BY INSTALLATION TYPE, 2017 & 2025 (%) 72
FIGURE 46. APAC ROBOTIC DRILLING MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 73
FIGURE 47. MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 74
FIGURE 48. MEA ROBOTIC DRILLING MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 75
FIGURE 49. SOUTH AFRICA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 76
FIGURE 50. SAUDI ARABIA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 77
FIGURE 51. UAE ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 78
FIGURE 52. REST OF MEA ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 79
FIGURE 53. MEA ROBOTIC DRILLING MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 79
FIGURE 54. MEA ROBOTIC DRILLING MARKET BREAKDOWN BY INSTALLATION TYPE, 2017 & 2025 (%) 80
FIGURE 55. MEA ROBOTIC DRILLING MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 81
FIGURE 56. SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 82
FIGURE 57. SAM ROBOTIC DRILLING MARKET BREAKDOWN BY KEY COUNTRIES, 2017 & 2025(%) 83
FIGURE 58. BRAZIL ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 84
FIGURE 59. REST OF SAM ROBOTIC DRILLING MARKET REVENUE AND FORECASTS TO 2025 (US$ MN) 85
FIGURE 60. SAM ROBOTIC DRILLING MARKET BREAKDOWN BY COMPONENT, 2017 & 2025 (%) 85
FIGURE 61. SAM ROBOTIC DRILLING MARKET BREAKDOWN BY INSTALLATION TYPE, 2017 & 2025 (%) 86
FIGURE 62. SAM ROBOTIC DRILLING MARKET BREAKDOWN BY APPLICATION, 2017 & 2025 (%) 87
1. Nabors Industries Ltd.
2. Rigarm
3. National Oilwell Varco, Inc.
4. Sekal AS
5. Huisman Equipment B.V.
6. Automated Rig Technologies Ltd.
7. Drillmec Inc.
8. Ensign Energy Services Inc.
9. Abraj Energy Services
10. Drillform Technical Services Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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