A $1.3 Billion Global Opportunity for Oil and Gas Drilling Automation by 2026 - New Research from StrategyR

SAN FRANCISCO, Sept. 3, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Oil and Gas Drilling Automation - 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: 6; Released: April 2021
Executive Pool: 952
Companies: 41 - Players covered include ABB Group; Kongsberg Gruppen ASA; Nabors Industries Ltd.; National Oilwell Varco, Inc.; Pason Systems Corp.; Rockwell Automation, Inc. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Onshore, Offshore)
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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ABSTRACT-

Global Oil and Gas Drilling Automation Market to Reach $1.3 Billion by 2026
Amid the COVID-19 crisis, the global market for Oil and Gas Drilling Automation estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2026, growing at a CAGR of 1.1% over the analysis period. Onshore, one of the segments analyzed in the report, is projected to record a 0.9% CAGR and reach US$823.9 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 1.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $372.9 Million in 2021, While China is Forecast to Reach $238.2 Million by 2026
The Oil and Gas Drilling Automation market in the U.S. is estimated at US$372.9 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$238.2 Million by the year 2026 trailing a CAGR of 0.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.2% and 0.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR. More

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About Global Industry Analysts, Inc. & StrategyR™
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.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.

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