Global Drilling Automation Market 2024

Global Drilling Automation Market 2024

According to the latest market study results, the global drilling automation market stood at around USD 1,454.2 million in 2023 and is projected to rise to a worth of USD 2,304.7 million by 2030 end, thereby garnering a CAGR of 6.8% during 2024-2030. North America, with its extensive shale drilling activities, leads the market, followed by the Asia-Pacific and Europe regions.

Automation significantly improves the efficiency of drilling operations by reducing downtime, optimizing drilling parameters, and minimizing human errors. This leads to faster drilling cycles and cost savings, making automated systems an attractive investment for companies seeking to enhance operational performance.

The integration of automated systems reduces the exposure of personnel to hazardous environments, lowering the risk of accidents and injuries. By performing repetitive and dangerous tasks, automation enhances overall safety on drilling sites, which is a critical consideration for the industry.

Continuous innovations in robotics, artificial intelligence (AI), and the Internet of Things (IoT) are driving the development of more sophisticated and reliable automated drilling systems. These technological advancements are facilitating easier implementation and integration of automation into existing operations, broadening the scope of its application.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the component, application, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global drilling automation market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for drilling automation can be segmented by component: hardware, software.

Drilling automation market is further segmented by application: offshore, onshore.

Based on region, the drilling automation market is segmented into: Asia-Pacific, Europe, North America, Middle East and Africa (MEA), South America.

The report has also analyzed the competitive landscape of the global drilling automation market with some of the key players being ABB Ltd., Baker Hughes Company, Drillmec Spa, Emerson Electric Co., Halliburton Company, Helmerich & Payne, Inc., Nabors Industries Limited, NOV Inc., Petrolink International Limited, Precision Drilling Corporation, Rockwell Automation, Inc., Schlumberger NV (SLB), Scientific Drilling Controls, Inc., Weatherford International plc, Yokogawa Electric Corporation, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global drilling automation market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

Stay ahead of competitors through company profiles and market data.

The market estimate for ease of analysis across scenarios in Excel format.

Strategy consulting and research support for three months.

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Market Segments Covered in Global Drilling Automation Industry Analysis:

i.) Component

• Hardware
• Software

ii.) Application

• Offshore
• Onshore

iii.) Region

• Asia-Pacific
• Europe
• North America
• Middle East and Africa (MEA)
• South America