Inspection Robotics in Oil & Gas Industry Market Size, Share and Global Trend By Type (AUVs, RUVs, Others), By Application (Upstream, Midstream, Downstream), By Deployment (Onshore, Offshore) and Geography Forecast till 2030

Region : Global | Report ID: FBI100922 | Status : Ongoing

KEY MARKET INSIGHTS

The oil & gas sector will be in growth in the coming future. This intensifies that there will be considerable demand for workforce, financial, and technical capabilities. Now a day, most of the works are done with the help of robots in the oil & gas industry. Inspection robotics are used to execute inspection and maintenance tasks on the industrial property by reducing human involvement and an increase in operational efficiency and improvements in safety. Inspection robotics technology helps the oil & gas industry to be more efficient, safer, and more reliable.

It allows areas that would not be accessible to be reached without opening or disassembly the structure. With the increase in demand for oil & gas, owing to robust growth in the world’s economy, which leads to an increase in production of the oil & gas. The countries have made more and more investment for onshore and offshore drilling. These activities created challenges for the environment, human life, and aquatic life. Inspection robotics helps the oil & gas industry to protect from various hazardous accidents.

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Based on the type, the global inspection robotics in the oil & gas industry market can be segmented into AUVs, ROVs, and others. The ROVs are expected to dominating the market in the above segmentation. ROVs are mostly used for offshore drilling activities. These are the underwater robots that are deployed to examine and resolve the underwater region to observe any problem associated with the pipeline. Based on application, the global inspection robotics in the oil & gas industry market is segmented into upstream, midstream, and downstream.

Upstream and midstream are expected to dominating the market in the above segmentation. Upstream refers to searching, recovery, production of crude oil, and natural gas. This process involves the drilling of exploratory wells so; inspection robotics used to detect a problem in the drilling process where humans can’t access easily. Midstream refers to processing, transport, and storage of oil & gas to the refinery. During blockage, corrosion or leakage this inspection robotics can resolve these problems.

Based on deployment, the global inspection robotics in the oil & gas industry market is segmented into onshore and offshore. Inspection robotics in offshore is expected to dominate the market in the above segmentation. Oil & gas industry is one of the hazardous industry. It is owing to the complicated process and high cost associated with oil storage tank, pipeline, and oil & gas platform inspection by using the traditional methods. The oil & gas industry compelled itself to switch towards robotics and automation. The offshore fields are located in an extreme state and create challenges for the environment as well as human life. Offshore fields drilling activities are performed into deep water and maintenance, safety, and underwater inspection is very important.

The factor that is expected to drive the growth of the global inspection robotics in the oil & gas industry market is Increase in investment in oil & gas exploration projects across the world to find more oil reserves. Also, owing to increase the safety measure to protect the environment and human life from hazardous effects by reducing human involvement. Increase in demand for oil and gas from the growing population.

The factor that is expected to restrain the growth of the global inspection robotics in the oil & gas industry market is owing to over-exploitation of the natural resources and significant consequences caused due to the use of oil. There is a massive investment in renewable sources of energy like solar, wind, etc. This drift may reduce the use of oil & gas in the future.

Key Market Players

Some of the major companies in the inspection robotics in oil & gas industry market is ABB Ltd., AeroVironment Inc., Alstom Inspection Robots, Cyberhawk Innovations Ltd., ECA Group, Flyability S.A., FMC Technologies Inc., Honeybee Robotics, Hydrovision Ltd., IKM Subsea AS, ING Robotic Aviation, International Submarine Engineering (ISE) Ltd., Inuktun Services Ltd., and MISTRAS Group Inc.

SEGMENTATION

SEGMENTATION	DETAILS
By Type	· AUVs · RUVs · Others
By Application	· Upstream · Midstream · Downstream
By Deployment	· Onshore · Offshore
By Geography	· North America (the USA and Canada) · Europe (UK, Germany, France, Netherlands, Norway, Russia and Rest of Europe) · Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific) · Latin America (Brazil, Mexico, Argentina, Venezuela, Chile and Rest of Latin America) · Middle East & Africa (South Africa, GCC, Nigeria and Rest of the Middle East & Africa)

Regional Analysis

The global inspection robotics in the oil & gas industry market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific is expected to dominating the market owing to high adoption ability in countries like China and India along with massive investment for the exploration of offshore oil & gas projects which shows a positive outlook for the inspection robotics market. In Europe, owing to investment in advance technology, which leads to reduce the risk of accidents in oil & gas accidents. Also, for the inspection and surveillance of the pipelines. North America holds the largest share in the inspection robotics in the oil & gas industry. Owing to the presence of giant oil & gas companies like Shell that has a vast network of pipeline and continuous progress in exploration activities. In the Middle East & Africa, most of the Middle East countries have an abundance of oil in the region. Most of the countries like India, China, etc. are the major importer of oil from Middle East countries. With the increase in oil production to fulfill the rise in demand for oil across the world, which leads to adopting advanced technology for inspection and surveillance of the pipeline.

Key Industry Developments

In Jun 2019, Square Robots, a Boston-based robotics company supplied autonomous robot to Phillips 66 the refiner has completed its first inspection of the ground diesel tank. This new technology helps the company to give proper inspection of the refinery and save their time and money.

In Jun 2019, Mitsubishi Heavy Industries (MHI) has successfully tested a robot for plant inspection. This new robot helps for explosion protection and it will be used by power generation plant.

In Jun 2019, Subsea has announced that to invest euro 17.3 million for the development of underwater robotics technology. This investment will enhance in the field of inspection technology.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2022
HISTORICAL DATA: 2019-2021

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