Robotic Drilling Equipment Market: Growth from $804.0 Million in 2019 to $1,017.4 Million by 2027 at a CAGR of 8.4%
The global robotic drilling equipment market, valued at $804.0 million in 2019, is projected to reach $1,017.4 million by 2027, achieving a compound annual growth rate (CAGR) of 8.4% from 2020 to 2027. Robotic drilling, also termed automated drilling, represents an advanced automation system tailored for drilling operations within the oil and gas industry. This technology enhances operational efficiency by reducing drilling times, enabling multi-sensor measurements, ensuring safer operations, and facilitating mass production. Companies in this sector produce both the robotic hardware and the software necessary to program and control these systems on oil and gas rigs. Robotic drilling equipment is categorized into two primary types: onshore, which operates on dry land, and offshore, which functions on ocean floors or seabeds. These machines are utilized for constructing new rigs for oil and gas extraction and for retrofitting older rigs during maintenance or part replacement.
https://www.openpr.com/news/3985486/robotic-drilling-equipment-market-growth-from-804-0-millionRobotic Drilling Equipment Market: Growth from $804.0 Million in 2019 to $1,017.4 Million by 2027 at a CAGR of 8.4%
The global robotic drilling equipment market, valued at $804.0 million in 2019, is projected to reach $1,017.4 million by 2027, achieving a compound annual growth rate (CAGR) of 8.4% from 2020 to 2027. Robotic drilling, also termed automated drilling, represents an advanced automation system tailored for drilling operations within the oil and gas industry. This technology enhances operational efficiency by reducing drilling times, enabling multi-sensor measurements, ensuring safer operations, and facilitating mass production. Companies in this sector produce both the robotic hardware and the software necessary to program and control these systems on oil and gas rigs. Robotic drilling equipment is categorized into two primary types: onshore, which operates on dry land, and offshore, which functions on ocean floors or seabeds. These machines are utilized for constructing new rigs for oil and gas extraction and for retrofitting older rigs during maintenance or part replacement.
https://www.openpr.com/news/3985486/robotic-drilling-equipment-market-growth-from-804-0-million
