Robotic Drilling Market Size, Share & Trends Analysis Report By Application (Onshore, Offshore), By Installation (Retrofit, New Builds), By Component (Hardware, Software), By Region, And Segment Forecasts, 2024 - 2030

Robotic Drilling Market Size, Share & Trends Analysis Report By Application (Onshore, Offshore), By Installation (Retrofit, New Builds), By Component (Hardware, Software), By Region, And Segment Forecasts, 2024 - 2030

Robotic Drilling Market Size & Trends

The global robotic drilling market size was estimated at USD 932.2 million in 2023 and is projected to grow at a CAGR of 6.8% from 2024 to 2030. The market is expected to witness lucrative growth owing to the increasing demand for fossil fuels over the forecast period. Owing to the rising expenditure on automobiles, the demand for fossil fuels is significantly increasing. According to the Economist Intelligence Unit, demand for oil and gas is expected to increase in the decade to 2030, largely driven by India and Middle East & African countries. The International Energy Agency projected the global oil demand is expected to be around 8% higher in 2030 compared to the numbers in 2021.

These automated systems, often known as drillbots, bring several benefits over traditional manual drilling operations, including enhanced efficiency, safety, precision, and lower operational costs. Rising importance for energy efficiency and sustainability is expected to boost the adoption of robotic drilling over the forecast period.

Furthermore, robotic drilling systems minimize human involvement in high-risk drilling operations, significantly reducing the likelihood of accidents. Also, automation speeds up the drilling process, achieving consistency and precision that manual operations would struggle to replicate.

Global Robotic Drilling Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global robotic drilling market report based on application, installation, component, and region:

• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Onshore
• Offshore
• Installation Outlook (Revenue, USD Million, 2018 - 2030)
• Retrofit
• New Builds
• Component Outlook (Revenue, USD Million, 2018 - 2030)
• Hardware
• Software
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Argentina
• Middle East & Africa
• Saudi Arabia
• South Africa
• UAE

Please note The report will be delivered in 4-8 business days upon order notification.