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Drones for Oil and Gas Market Trends

  • Report ID: 2993
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Drones for Oil and Gas Market Trends

Growth Drivers

  • Rising prevalence of drones in all three sectors of oil and gas
  • Increase in well drilling

Challenges

  • Expensive drone technology
  • Lack of presence of drone companies in lower economic regions

Drones for Oil and Gas Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

39.3%

Base Year Market Size (2023)

USD 14.42 billion

Forecast Year Market Size (2036)

USD 1.07 trillion

Regional Scope
  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:

Author Credits:  Dhruv Bhatia


  • Report ID: 2993
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising investments in smart grid technologies and smart cities coupled with increasing urban population are the key factors driving market growth.

The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.

Costly drone technology and lack of drone manufacturer in lower economic regions are estimated to hamper market growth.

The market in North America region will provide ample growth opportunities owing to the increasing demand of drones across all three sectors of oil and gas industry.

The major players dominating the drone-based inspections market for oil and gas are PrecisionHawk, Terra Drone Corp., Equinox's Drones, and Viper Drones among others.
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