Drones for Oil and Gas Market 2021: COVID-19 Impact Application, Technological Advancement, Key Players, Financial Overview and Analysis Report Forecast to 2023
Market
Highlights
The
global market for drones for oil and gas is projected to be valued at USD 16.72
Billion by 2025, with 35.24% CAGR during the forecast period, 2019–2025. Drones
for oil and gas is a combination of hardware and software which provides
actionable information for downtime prevention and cost-effectiveness within
the power network.
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In 2018,
North America dominated the global drones for oil and gas market in terms of
share: MRFR
The
market is segmented into five regions, namely Asia-Pacific, Europe, North
America, Middle East & Africa, and South America. North America holds the
largest market share in the drones for oil and gas owing to increasing adoption
of Drones by major oil & gas operators within the region. Moreover,
increasing need for transformation in the inspection ways and maintenance of
assets such as well sites, pipelines, and offshore platforms in the region
would positively trigger the demand of drones for oil and gas market.
In
Europe, Germany is expected to be the largest and the fastest growing country
in the drones for oil and gas market owing to increasing oil consumption.
According to the BP Statistical Review of World Energy 2018, oil consumption in
Germany has been increasing significantly with 115 Mtoe, 117.3 Mtoe, and 119.8
Mtoe in the year 2015, 2016, and 2017, respectively. Hence, the rising rate of
oil consumption leads to an increase in energy demand. Inspection is an
important part of oil and gas production activities, of which drone is a
significant part.
In
Asia-Pacific, China is projected to be the largest market owing to owing to
increasing demand for oil. China is emerging in terms of production of shale
oil. Due to more inaccessible areas, the authorities in the country are in a
process of conducting seismic surveys to develop detailed images of local
geology in order to discover the locations and size of potential oil & gas
fields. All these factors are likely to drive drones for oil and gas industry.
In the
Middle East & Africa, Saudi Arabia, is projected to be the largest and the
fastest growing country in the drones for oil and gas market owing to fact that
the Saudi Arabian Oil Co. has taken considerable steps to enhance production
rates. All these factors will boost the demand for drones as they enable oil
and gas companies to reduce cost and improve efficiency.
In South
America, Brazil is expected to be the largest and the fastest growing country
in the drones for oil and gas market owing to increasing energy demand that has
led to more exploration and production activities of oil and gas to meet the
energy demand, thereby boosting demand for drones in the country.
The
global drones for oil and gas market is segmented based on type and
application. By type, the global market is segmented into single-rotor,
multi-rotor, fixed wing, and hybrid & nano. The multi-rotor segment is
projected to be the largest market share in the global drones for oil and gas
market. By application, the global market is segmented as inspection, surveying
& mapping, and security and emergency response. The inspection segment is
expected to hold the largest market share in the global drones for oil and gas
market.
The
global drones for oil and gas market is expected to grow at 35.24% CAGR during
the forecast period.
Scope of the Report
This
report provides an in-depth analysis of the global drones for oil and gas market, tracking four market segments
across five geographic regions. The report studies key players, providing a
five-year annual trend analysis that highlights market size and share for South
America, North America, the Middle East & Africa, Europe, and Asia-Pacific.
The report also presents a forecast, focusing on the market opportunities for
the next five years for each region. The scope of the study segments the global
drones for oil and gas market by type, application, and region.
- BY TYPE
- Single-Rotor
- Multi-Rotor
- Fixed Wing
- Hybrid
& Nano
- BY APPLICATION
- Inspection
- Surveying &
Mapping
- Security
and Emergency Response
- By
Region
- North
America
- Asia-Pacific
- Europe
- Middle East
& Africa
- South
America
Key
Players
The players operating in the Global Drones for Oil
and Gas Market are Cyberhawk Innovations Limited (Scotland), PrecisionHawk (US), SkyScape
Industries (US), Airobotics (US), AeroVironment, Inc (US), Airborne Drones
(South Africa), Sky-Futures (UK), Terra Drone (Japan), Insitu Pacific Pty Ltd
(Australia), Intel Corporation (US), Delair (Denmark), Aerodyne Group
(Malaysia), Aerialtronics DV B.V. (the Netherlands), Flyability (Switzerland),
and ideaForge (India).
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