Oil and Gas Robotics Market Size, Trends & Growth (2021 - 2026)
Inspection robotics are used to perform inspection and maintenance tasks on industrial resources reducing human intervention, increasing operational productivity, and improving well-being. There are a few types of mechanical arrangements accessible in the oil, gas, and petrochemical industries, ranging from subsea frames to versatile automated frames.
Inspection robots in the oil and gas industry are intelligent robots and devices developed and used for the inspection, monitoring, and surveillance of oil and gas pipelines, platforms, platforms, storage tanks, and other oil and gas structures. Oil and gas examination robots incorporate Unmanned Underwater Vehicles (UUVs), Unmanned Aerial Vehicles (UAVs), and Unmanned Ground Vehicles (UGVs). UUVs incorporate distantly worked submerged vehicles (ROVs) and self-sufficient submerged vehicles (AUVs). The absolute worldwide venture (capital use) of investigation robots in the oil and gas industry will increment to $ 2.85 billion every 2025, addressing a strong development of XX% each year somewhere in the range of 2016 and 2025.
Drivers and Restraints of Oil and Gas Robotics Market:
Increasing investments in research, creation, and drilling exercises and the number of upstream companies around the world are needed by oil manufacturers such as the United States and OPEC to drive inspection robotics in the oil and gas robotics market. The oil and gas industry is extremely mind-boggling and dangerous by nature. Due to the staggering cost of inspecting oil and gas pipelines, storage tanks, and stages using ordinary strategies, the oil and gas industries are forced to rethink their current percentage of commercial mechanization. Offshore fields, often located in scandalous conditions, pose fundamental safety challenges for both man and the environment. As offshore drilling exercises move into deep and ultra-deepwater, exercise well-being, for example, submerged maintenance and inspection, becomes increasingly important. This, in turn, leads to increased interest in inspection robotics. The oil and gas industry is now focused on increasing its operating expenses by investing in the latest innovations.
A robot automation task can be troublesome, particularly for organizations with no related knowledge. High capital consumption is required for the acquisition of the robot, yet in addition for joining, programming and upkeep. Now and again, a custom mix might be required, which can additionally add to your all-out cost. Organizations don't generally have space and foundation to execute robots.
Oil and Gas Robotics Market Segmentation:
The autonomous underwater vehicles segment is leading with the highest shares of the market. An autonomous underwater vehicle (AUV) is an unmanned submersible vehicle that does not require any real-time input or command from a human operator or driver and therefore operates autonomously. AUVs are robotic vehicles pre-programmed with mission parameters and then deployed to the ocean. An unmanned ground vehicle (UGV) is a vehicle that operates in contact with the ground and without a human presence on board.
By application, the inspection segment is leading with the dominant shares of the market. The purpose of the inspection is to verify the climatic conditions; the product is manufactured in accordance with the standards and the specification by checking the products at random. At the program level, the purpose of monitoring and evaluation is to systematically monitor implementation and results and to measure the effectiveness of programs. It helps determine exactly when a program is on track and when changes may be necessary.
The hardware segment is anticipated to rule the largest shares of the oil and gas robotics market. PC hardware alludes to the actual pieces of a PC and related peripherals. Internal equipment gadgets incorporate motherboards, hard drives, and RAM. The interior equipment parts of a PC are regularly called segments, while the outer equipment gadgets are by and large called peripherals. Programming is the projects and schedules of a PC or the equipment program of an electronic gadget that makes it work.
Oil and Gas Robotics Market Region wise analysis:
Marked Segmentation based on the region:
Among these, the Asia-Pacific region is expected to be an important part due to high adoption from countries such as China and India. Asia-Pacific has just launched major projects to investigate the offshore oil and gas industry. The oilfield directors have also distributed a large amount of cash for the advancement of offshore fields, which in turn, is expected to offer an open door to a remarkable business development for robotic inspection in the oil industry market for oil and gas.
a. Middle East
Key Players of Market:
IMPACT OF COVID-19 ON OIL AND GAS ROBOTICS MARKET:
A significant trend that has been observed in the Asia-Pacific region is the displacement of the manufacturing capabilities of many multinational companies outside of China. Although most of the potential destination countries for manufacturing, such as India, Thailand and the Philippines, among others, belong to the same Asia-Pacific region, investment in manufacturing capacity outside of China will increase. Therefore, this offers a significant growth opportunity for industrial robot suppliers to quickly partner with investors in countries such as India, Thailand and the Philippines to take advantage of the situation. Market players must assess countries 'manufacturing infrastructure and propose end-to-end and integrated robotic solutions to improve the quality and efficiency of countries' production. The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increase. The COVID-19 disease has infected more than 1.8 million people worldwide, with the United States accounting for approximately 30% of cases. Globally, the death toll has exceeded 110,860, according to the latest Worldometer statistics (as of April 12, 2020). The number continues to rise and the duration of the pandemic remains difficult to predict. Following a slowdown in global demand for industrial robots due to the COVID-19 pandemic, major suppliers of industrial robots are expected to struggle through 2020.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Oil and Gas Robotics Market, By Product
6.1.1 Remotely operated vehicles
6.1.2 Autonomous underwater vehicles
6.1.3 Unmanned aerial vehicles
6.1.4 Unmanned ground vehicles
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Oil and Gas Robotics Market, By Application
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Oil and Gas Robotics Market, By Component
6.3.3 Market Size Estimations & Forecasts (2021-2026)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Product
7.2.3 By Application
7.2.4 By Component
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Product
7.3.3 By Application
7.3.4 By Component
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Product
7.4.3 By Application
7.4.4 By Component
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Product
7.5.3 By Application
7.5.4 By Component
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Product
7.6.3 By Application
7.6.4 By Component
8. Key Player Analysis
8.1 ABB Ltd.
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 AeroVironment Inc.
8.3 Alstom Inspection Robots
8.4 Cyberhawk Innovations Ltd.
8.5 ECA Group
8.6 Flyability S.A.
8.7 FMC Technologies Inc.
8.8 Honeybee Robotics
8.9 Hydrovision Ltd.
8.10 IKM Subsea AS
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures