(MENAFN- The Express Wire) Inspection Robotics in Oil & Gas Industry Market Key Players, Application, Demand, Industry Research Report by Regional Forecast to 2026
Posted on Sep 20 2020 2:07 PM
"Top Players in Inspection Robotics in Oil & Gas Industry Market are 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
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The testing of robots for plant inspection was successful in June 2019 by Mitsubishi Heavy Industries (MHI). This robot will help to protect the explosion and will be used by the power generation plants. Such innovations are anticipated to drive the global inspection robotics in oil and gas industry market, says Fortune Business Insights in their new study. According to the report, the increasing number of upstream undertakings by major oil companies is an important factor boosting the global inspection in the oil and gas industry market.
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
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The report on inspection robotics in oil and gas industry market by Fortune Business Insights is titled, '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 2026.
The global inspection robotics in the oil and gas industry market is categorized on the basis of type, application, deployment, and geography. With respect to type, the market is classified into RUVs, AUVs, and others. Based on the application, the market is segmented into downstream, midstream, and upstream. On the basis of deployment, the market is bifurcated into offshore and onshore.
List of major players operating in the global inspection robotics in the oil and gas industry market include:
- Alstom Inspection Robots
- Inuktun Services Ltd.
- MISTRAS Group Inc.
- Flyability S.A.
- AeroVironment Inc.
- Honeybee Robotics
- ECA Group
- ABB Ltd.
- International Submarine Engineering (ISE) Ltd.
- FMC Technologies Inc.
- ING Robotic Aviation
- Cyberhawk Innovations Ltd.
- IKM Subsea AS
- Hydrovision Ltd.
Innovations in inspection robotics in the oil and gas industry market include:
June 2019 In order to achieve an enhancement in the field of inspection technology, Subsea announced an investment of 17.3 million euros for developing underwater robotics technology.
June 2019 A Boston-based company for robotics called Square Robots supplied autonomous robot to Phillips 66. This is a type of refiner with new technology for proper inspection of the refinery, thus saving both money and time.
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'Rise in Operational Productivity to Boost Market
The rise in exploration and drilling activities are considered major factors driving the global inspection robotics in oil and gas industry market growth. Inspection Robotic in oil and gas industries are used for performing maintenance and inspection tasks on industrial resources by improving well-being, reducing human intervention, and increasing operational productivity. This factor is anticipated to promote the global inspection robotics in oil and gas industry market growth in the forthcoming years.
However, the blooming of the oil and gas industry has created major environmental concerns and this may restrict the inspection robotics in oil and gas industry market growth in the coming years. In addition to that, the high cost of stockpiling tank, oil and gas stage inspection, and pipelines may also cause hindrance to the overall market growth in the coming years.
The rise in investments for creation, investigation, and drilling exercises are likely to bode well for the market as well. Furthermore, the rise in the number of upstream undertakings on a global basis will also help the market attract high revenue in the years to follow.
'North America to Attract High Revenue Owing to Presence of Major Players
As per the report, the market is anticipated to be dominated by Asia Pacific on account of high adoption ability in nations such as India and China. This, coupled with huge investments for exploration activities in offshore oil and gas projects is anticipated to show positive inspection robotics in oil and gas industry market growth in the forecast period.
On the other side, the market in Europe is expected to show significant growth because of the huge investments made in advanced technology. The adoption of advanced technology will help to reduce the risk of accidents and thus help Europe generate high revenue in the forecast duration.
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The presence of giant oil and gas companies such as Shell, with a vast network of pipeline, coupled with the continuous progress in exploration activities, the market in North America is anticipated to hold the largest inspection robotics in the oil and gas industry market share.
Major Table of Contents for Inspection Robotics in Oil & Gas Industry Market:
Introduction Executive Summary Market Dynamics Key Inspection Robotics in Oil & Gas Industry Market Insights Global Market Analysis, Insights and Forecast, 2015-2026 North America Market Analysis, Insights and Forecast, 2015-2026 Europe Market Analysis, Insights and Forecast, 2015-2026 Asia Pacific Market Analysis, Insights and Forecast, 2015-2026 The Middle East and Africa Market Analysis, Insights and Forecast, 2015-2026 Latin America Market Analysis, Insights and Forecast, 2015-2026 Competitive Landscape Global Inspection Robotics in Oil & Gas Industry Market Revenue Share Analysis, By Key Players, 2020 Company Profiles Conclusion Purchase Full Report for Exclusive Inspection Robotics in Oil & Gas Industry Market Growth Forecast - [To enable links contact MENAFN]
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