Robotic Drilling Market
Robotic Drilling Market: Introduction
- Oil and gas fields are often located in remote locations. They undertake hazardous operations. As a result, safety of workers and their surrounding environment is a priority of oil & gas companies. Automation of drilling process ensures safety of systems and workforce.
- Robotic drilling is employed in drilling activities of unconventional hydrocarbon resources. It helps increase efficiency of drilling and improve safety of rigs and workers.
Key Drivers and Restraints of Robotic Drilling Market
- Rise in automation in the oil & gas industry is one of the key drivers of the robotic drilling market. Over the last few years, oil and gas companies have been depending more on the automation process, as the process reduces time and increases profitability. Several companies are taking initiatives to implement digitization in oil fields. This has led to a rise in investment in the modernization of facilities intended to increase productivity and reduce budgets as well as timelines.
- Robotic drilling reduces human contact in the drilling process and also improves the speed of production. Furthermore, drilling can produce dust or other particles in the air during the application process. The usage of a robotic driller helps remove workers from the harmful environment. Thus, demand for robotic drilling is likely to increase during the forecast period.
- Robotic drilling technology is in the development phase. Thus, the cost associated with it is much higher. Furthermore, lack of infrastructure is one of the restraining factors of the global robotic drilling market.
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