Market Overview

Global Robotic Drilling Market in the Oil and Gas Industry 2018-2022 | Rising Investments in Renewable Energy Drives Growth | Technavio

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The global robotic drilling market in the oil and gas industry is
expected to post a CAGR of close to 7% during the period
2018-2022, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global robotic drilling market in the oi ...

Technavio has published a new market research report on the global robotic drilling market in the oil and gas industry from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is the growing consumption
of oil and natural gas. The increase in the consumption of oil and gas
will increase the demand for the same and encourage investments in the
upstream sectors. The countries such as Canada, the US, China, the UAE,
and Russia will account for a significant share of the market growth
during the forecast period.

This market research report on the global
robotic drilling market in the oil and gas industry 2018-2022

also provides an analysis of the most important trends expected to
impact the market outlook during the forecast period. Technavio
classifies an emerging trend as a major factor that has the potential to
significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
only:
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market snapshot before purchasing

In this report, Technavio highlights the rising investments in renewable
energy as one of the key emerging trends in the global robotic drilling
market in the oil and gas industry:

Global robotic drilling market in the oil and
gas industry: Rising investments in renewable energy

The reduction in fossil fuel reserves and the increasing focus on
climate change and environmental protection has led to an increase in
the global investments in the renewable energy sector. Global warming,
polar ice cap melting, and other such calamities have led to many
countries focusing on renewable energy for power generation.

"The countries such as China, the US, India, Japan, the UK, and
Germany drive the growth of the global renewable energy market.
According to the US EIA, in 2017, China accounted for the highest number
of new solar capacity additions. According to the Global Wind Energy
Council, in 2016, China increased its wind energy capacity by adding
23,328 MW, which is the highest in the world. Thus, growth in the
renewable energy sector in developing countries such as China shows the
potential of the market,"
says a senior analyst at Technavio for
research on engineering tools.

Global robotic drilling market in the oil and
gas industry: Segmentation analysis

This market research report segments the global robotic drilling market
in oil and gas industry by product (hardware and software), by
application (onshore and offshore), and geography (APAC, EMEA, and the
Americas).

The major share of the revenue is from the sales of hardware components,
where the use of various types of raw materials makes the cost of
production high.

The Americas led the market in 2017 with more than 55% of the market
share, followed by EMEA and APAC respectively. The market share occupied
by the Americas is expected to increase by almost 1% during the period
2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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