Robotic Drilling Market Forecasts to 2028 - Global Analysis By Deployment (Onshore and Offshore), Component (Hardware and Software), Installation (Retrofit and New Builds) and By Geography

According to Stratistics MRC, the Global Robotic Drilling Market is accounted for $947.1 million in 2022 and is expected to reach $1,589.3 million by 2028 growing at a CAGR of 9.01% during the forecast period. Robot drilling is a sort of automated machining process that involves attaching a drilling tool to the end of an industrial robot. Robots, as opposed to traditional computer numerically controlled (CNC) drilling machines, offer a broader workspace and can handle more complex designs. One of the most significant compensation of adopting robot drilling systems is their adaptability. Conventional CNC drilling is typically limited to drilling in one or two planes.

According to the survey, Onshore oil production accounts for around 70% of global oil production. Increased onshore exploration activity worldwide. In 2020, global oil production reached 88,391 thousand barrels per day, increasing by 6.12% since 2010.

Market Dynamics:

Driver:

Increasing adoption in the oil and gas industry

Because of breakthroughs in data collecting, better precision and accuracy in operations, and increased worker safety, the adoption of automation in the oil and gas business has skyrocketed. Furthermore, oil and gas rigs in deep oceans, which have highly variable climatic conditions, find that automation is optimal. Because of the benefits, oil and gas drill operators are progressively incorporating automation on their rigs. Moreover, increased development activities and a focus on developing new oil and gas reserves in a risk-free, cost-effective, and time-efficient manner are projected to drive the market for robotic drilling systems.

Restraint:

Data privacy and cybersecurity

The oil and gas rig computers that run the automation systems, such as software, have multiple access points via a network, allowing the computer to be operable from multiple systems. This puts data confidentiality and other cyber security issues at risk. Without consent, the information can be obtained and used in inappropriate and unlawful ways. Furthermore, the operation of the systems can be altered, resulting in damage to the rigs and drilling activities. Because of these negative consequences, enterprises have either shelved their plans to automate the drills or abandoned the upgrade concept. As a result, the security component serves as a market constraint for robotic drilling equipment.

Opportunity:

Improved exploration in ultra-deep waters

The extraction of oil and gas from the earth is critical to meeting the ever-increasing demand for oil items and the growing popularity of gas-powered automobiles in developing countries. As a result, various oil and petrol resources that have yet to be extracted are being studied. As a result, exploration operations have expanded to encompass ultra-deepwater and select Arctic regions. Because of the difficulty of using them in this distant area and the need for productivity, most modern rigs are automatic. As a result, new, exploratory operations are predicted to increase demand for robotic drilling equipment during the anticipated period.

Threat:

High cost

Metal drilling robots require greater stiffness and torque. They must also use more force. Drilling robots for metal are hence more expensive than ones for wood, fibre, and other comparatively soft materials. There are used robots available that are far less expensive than new ones. Moreover, the initial cost is only one component of purchasing robotic drilling equipment, it is also necessary to consider the costs of developing and building the equipment. The other pillars of the robotic drilling equation are maintenance and auxiliary expenditures. Maintenance is a cost that all leaders and executives must consider which may hamper the market growth.

Covid-19 Impact

The global business for robotic drilling has been badly disrupted by the COVID-19 pandemic. The COVID-19 epidemic slowed economic growth in nearly all major countries, altering consumer purchasing patterns. National and international travel have been hampered as a result of the lockdown applied in many nations, which has greatly disrupted the supply chain of numerous sectors around the world, consequently increasing the supply-demand gap. As a result, a lack of raw material supply is likely to slow the production rate of robotic drilling equipment, severely impacting market growth. But, the situation is expected to improve as governments around the world begin to reduce regulations for resuming corporate operations.

The Onshore segment is expected to be the largest during the forecast period

The Onshore segment is estimated to have a lucrative growth, due to the goal of onshore drilling is to extract resources from beneath the earth's surface. Onshore drilling is utilised when there are resources near or beneath sea bodies. This is why modern drilling equipment is employed underwater. Onshore transportation is generally land-based, however a variety of big trucks, equipment, and pickup trucks, there are two types of onshore drilling operations. One method is mobile, which involves a truck or caravan mounted rig. A drilling rig of this type may reach depths of up to 130,000 feet. The other type of rig is a fixed rig with a capability of up to 30,000 feet. Onshore drilling makes use of readily available shales, and equipment can be quickly relocated from site to site which helps in enhancing the market growth.

The Retrofit segment is expected to have the highest CAGR during the forecast period

The Retrofit segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its property of modifying an existing structure to safeguard it from flooding or other threats such as high winds and earthquakes. Section enlargement, external plate bonding, external post-tensioning, grouting, and fibre reinforced polymer composites are some of the techniques used to retrofit structural members. Traditional retrofitting drilling procedures are used to improve the seismic resilience of existing structures by eliminating or reducing the negative effects of design or construction. Shear walls, infill walls, and steel braces are among the methods used. Existing building retrofitting provides significant opportunity for enhancing asset performance. Retrofitting has the ability to improve the overall performance of the building by increasing energy efficiency, increasing staff productivity, lowering maintenance costs, and improving thermal comfort thus propelling the market.

Region with largest share:

North America is projected to hold the largest market share during the forecast period owing to the largest contributor to worldwide robotic drilling equipment market for robotic drilling equipment is expanding at a slow but steady pace. The North American region, notably the United States and Canada, generates the largest demand. The key factor driving the growth of the robotic drilling equipment market is the increased use of drilling machine automation. In North America, there are around 420 oil and petrol rigs, with several more being modernised and converted to automation. These factors increase the demand for robotic drilling equipment.

Region with highest CAGR:

Asia-Pacific is projected to have the highest CAGR over the forecast period, owing to rapid economic expansion, such as India and China. These nations have a tremendous demand for oil and gas. Due to this, numerous automated oil and gas extraction projects are being developed and implemented in the region. Moreover, Robotic drilling technology has been adopted by several oil & gas companies operating across the Asia Pacific owing to its cost-effective nature, which helps reduce operational costs and enhance productivity. In addition, automation in the oil and gas business has resulted in the automation of drilling equipment on oil rigs due to the precision and efficiency of data. This will increase the market for robotic drilling equipment throughout the forecast period.

Key Players in the market

Some of the key players profiled in the Robotic Drilling Market include Nabors, Precision, Abraj Energy, Sekal, Drillmec, Ensign Energy Services, National Oilwell Varco, Huisman, Drillform Technical, Weatherford International, Automated Rig Technologies, Rigarm, SKF Evolution and Siemens

Key Developments:

In November 2022, Sekal has expanded PETRONAS Carigali Sdn Bhd (PCSB) adoption of Sekal's real-time digital twin technology and services with the inclusion of Sekal's Automated Drilling Control software DrillTronics® into its current contract.

In Jun 2022, Sekal announced that have signed a new framework agreement with Aker BP to supply rig operations with Drilling Automation and real-time drilling engineering solutions. Sekal will be an integrated part of the Drill Well on Simulator project, a part of the Well Construction value stream in Aker BP's digitalization initiative Eureka X.

In July 2020, Ensign Energy Services Inc. is pleased to announce the acquisition of Halliburton's 40% ownership in the joint venture operating under the name Trinidad Drilling International ("TDI") which owns and operates five drilling rigs in Mexico, Kuwait and Bahrain.

In July 2019, Sekal AS was acquired by Sumitomo Corporation to further strengthen and accelerate our market strategy and products development within real time dynamic analytics and drilling automation for the oil & gas sector.

Deployments Covered:

• Onshore
• Offshore

Components Covered:

• Hardware
• Software

Installations Covered:

• Retrofit
• New Builds

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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