SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Robotic Drilling - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 473
Companies: 42 - Players covered include Abraj Energy Services SAOC; Automated Rig Technologies Ltd.; Drillform Technical Services Ltd.; Drillmec SPA; Ensign Energy Services Inc.; Huisman Equipment B.V.; Nabors Corporate Services, Inc.; National Oilwell Varco, Inc.; Precision Drilling Corporation; Rigarm; Sekal AS; Weatherford International Ltd. and Others.
Coverage: All major geographies and key segments
Segments: Application (Onshore, Offshore); Component (Hardware, Software); Installation (New Builds, Retrofits)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Robotic Drilling Market to Reach $958.6 Million by 2026
Amid the COVID-19 crisis, the global market for Robotic Drilling estimated at US$683.5 Million in the year 2020, is projected to reach a revised size of US$958.6 Million by 2026, growing at a CAGR of 5.6% over the analysis period. Onshore, one of the segments analyzed in the report, is projected to record a 6.4% CAGR and reach US$657.3 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Offshore segment is readjusted to a revised 4.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $217.2 Million in 2021, While China is Forecast to Reach $168.6 Million by 2026
The Robotic Drilling market in the U.S. is estimated at US$217.2 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$168.6 Million by the year 2026 trailing a CAGR of 5.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.3% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. More
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About Global Industry Analysts, Inc. & StrategyRtm
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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