GITNUX MARKETDATA REPORT 2024

Robotic Drilling Industry Statistics

The robotic drilling industry is expected to experience significant growth driven by increasing demand for automated and precise drilling solutions across various sectors.

With sources from: futuremarketinsights.com, marketsandmarkets.com, orbisresearch.com, globenewswire.com and many more

Statistic 1

The global robotic drilling market is projected to reach a value of USD 923.2 million by 2023, growing at a CAGR of 7.01% from 2018 to 2023.

Statistic 2

The automated robotic drilling systems market has grown at a compound annual growth rate (CAGR) of roughly 4.21% from 2017 and is forecasted to reach 0.82 billion USD by the end of 2022

Statistic 3

The onshore application segment constitutes for approximately 70% of the market share in 2017.

Statistic 4

The North American region is the largest market for robotic drilling and accounted for a share of 70% in 2017.

Statistic 5

Europe robotic drilling market was valued $200 million in 2017 and is expected to reach $350 million by 2025.

Statistic 6

The perception system segment in hardware of the robotic drilling equipment witnessed a growth rate of 15% in 2019.

Statistic 7

The Asia-Pacific robotic drilling market is projected to grow at the highest CAGR during the forecast period.

Statistic 8

The market for robotic drilling equipment will expand at a CAGR of over 8% between 2020 and 2026.

Statistic 9

The fully automated segment is forecasted to dominate the robotic drilling market with 65% of the total stake in 2023.

Statistic 10

Hardware holds more than 60% of the revenue share in the robotic drilling market.

Statistic 11

Latin America market is estimated to represent over $40 Million revenue opportunity for robotic drilling industry players by 2026.

Statistic 12

The Middle East & Africa region is expected to hold around 20% share of the global robotic drilling market by 2025.

Statistic 13

The market for drilling units/components in robotic drilling equipment is anticipated to reach $100 million by 2024.

Statistic 14

The oil & gas drilling industry accounted for 90% of the global robotic drilling market share in 2018.

Statistic 15

Globally, 320 units of robotic drilling equipment were sold in 2018, up from 280 units in 2017.

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In this post, we delve into key statistics driving the robotic drilling industry, shedding light on market trends, growth projections, and regional dynamics. From the significant market value projections to the dominance of specific applications and regions, these statistics provide a comprehensive overview of the robotic drilling landscape.

Statistic 1

"The global robotic drilling market is projected to reach a value of USD 923.2 million by 2023, growing at a CAGR of 7.01% from 2018 to 2023."

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Statistic 2

"The automated robotic drilling systems market has grown at a compound annual growth rate (CAGR) of roughly 4.21% from 2017 and is forecasted to reach 0.82 billion USD by the end of 2022"

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Statistic 3

"The onshore application segment constitutes for approximately 70% of the market share in 2017."

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Statistic 4

"The North American region is the largest market for robotic drilling and accounted for a share of 70% in 2017."

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Statistic 5

"Europe robotic drilling market was valued $200 million in 2017 and is expected to reach $350 million by 2025."

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Statistic 6

"The perception system segment in hardware of the robotic drilling equipment witnessed a growth rate of 15% in 2019."

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Statistic 7

"The Asia-Pacific robotic drilling market is projected to grow at the highest CAGR during the forecast period."

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Statistic 8

"The market for robotic drilling equipment will expand at a CAGR of over 8% between 2020 and 2026."

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Statistic 9

"The fully automated segment is forecasted to dominate the robotic drilling market with 65% of the total stake in 2023."

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Statistic 10

"Hardware holds more than 60% of the revenue share in the robotic drilling market."

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Statistic 11

"Latin America market is estimated to represent over $40 Million revenue opportunity for robotic drilling industry players by 2026."

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Statistic 12

"The Middle East & Africa region is expected to hold around 20% share of the global robotic drilling market by 2025."

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Statistic 13

"The market for drilling units/components in robotic drilling equipment is anticipated to reach $100 million by 2024."

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Statistic 14

"The oil & gas drilling industry accounted for 90% of the global robotic drilling market share in 2018."

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Statistic 15

"Globally, 320 units of robotic drilling equipment were sold in 2018, up from 280 units in 2017."

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Interpretation

In conclusion, the global robotic drilling market is witnessing significant growth, with projections indicating substantial increases in market value and penetration across different regions and application segments. The market is driven by technological advancements, such as the increasing adoption of automated robotic drilling systems and the evolving hardware components like the perception system segment. With the oil & gas drilling industry playing a dominant role, regions like North America and Asia-Pacific are emerging as key markets for robotic drilling equipment. Moreover, the forecasted dominance of the fully automated segment and the anticipated growth in drilling units/components market highlight a promising outlook for the industry in the coming years.

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