London, UK -- (SBWIRE) -- 10/20/2022 -- The latest publication by GlobalData titled Robotics in Oil and Gas (2021) – Thematic Research predicts robotics to become an essential part of the buzzing oil and gas industry. Robotics has been playing a diverse role in the oil and gas industry with a wide range of products for a growing list of functionalities. Furthermore, the oil & gas industry is actively collaborating with robotics hardware and software technology vendors to scale up the deployment of autonomous robots at their facilities.
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As per statistics from GlobalData Plc, the robotics industry was valued USD 45.3 billion in 2020. The industry is anticipated to garner an accelerating growth momentum at a CAGR of over 28% during 2021-2030. The growth of robotics in the oil and gas industry can be attributed to the increasing deployment of robots to oversee the inspection of hazardous and difficult-to-access locations, perform complex tasks such as drilling, and clean oil tanks and other applications.
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Robotics in Oil and Gas Industry Trends
The main trends shaping the robotics theme over the next 12 to 24 months are covered in this report.
Oil and gas trends
- Rise of autonomous robots
- Scope for the robot as a service (RaaS)
- Collaboration with tech vendors
- Digital technology adoption
- Addressing HSE concerns with robotics
Technology trends
- Artificial intelligence
- Edge computing
- Cybersecurity
- Industrial Internet
- Cloud robotics
- Robotics centers of excellence (CoEs)
- Open process automation (OPA)
- Lightweight design and doing less with more
- Customizable robots
- Soft and self-healing robots
Macroeconomic trends
- China
- Japan
- Europe
- The future of work
- Industry diversification
Regulatory trends
- Drones
- China's regulatory landscape
- Ethics
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GlobalData highlights oil and gas sector leaders as well as the technology companies making their mark in the robotics theme.
Oil and gas companies
- Baker Hughes: The company offers robotic services to the oil and gas industry through its subsidiary Waygate Technologies. It offers robot-based inspection and monitoring services to reach inaccessible and hazardous locations.
- BP: The company has been employing robots to improve monitoring and logistics across all sectors of their oil and gas operations. BP claimed that it is trialing terrain robots, airborne drones, and marine robots in its operations.
- Chevron: Chevron has employed robotics for the inspection of assets in confined places and other hazardous environments. The company has also utilized automation in its oil well drilling mapping systems, which has contributed to increased returns on investments in the upstream sector.
- China Petrochemical Corp (Sinopec)
- Equinor
- ExxonMobil
- Oceaneering
- Repsol
- Shell
- Saudi Aramco
- TotalEnergies
Technology Companies
- Cognex: Cognex is one of the key players in the fast-growing machine vision market. Its products are used in automated manufacturing, warehousing, and robotics to inspect and identify parts, detect defects, and verify product assembly. They range from mobile scanners, laser profilers, and smart 3D cameras to image analysis software.
- Cyberdyne: Cyberdyne is a leading Japanese manufacturer of exoskeletons. The company has also developed waistband lumbar supports for workers that are required to lift heavy goods regularly.
- Estun Automation: The company specializes in metal joining and electro-hydraulic robots and, like some other Chinese robot companies, customizes robots supplied by the four largest industrial robotics companies (ABB, FANUC, KUKA, and Yaskawa).
- FANUC
- HollySys
- Honda
- Intuitive Surgical
- iRobot
- Keyence
- Midea
- Nabtesco
- Northrop Grumman
- Omron
- Rockwell Automation
- Siasun Robot & Automation
- Stryker
- Teradyne
- Toyota
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Robotics Value Chain Segment Highlights
The key value chain segments include:-
Hardware components
- Precision mechanical parts
- Semiconductors
Software components
- Robotic intelligence
Robot manufacturing
- Industrial robots
- Service robots
Robotics as a service
- Cloud robotics
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About GlobalData
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