Drones for Energy Industry Market Trends, Share, Industry Size, Growth, Opportun

Posted by jitendra magar in Finance on March 8th, 2018

Market Highlights

Drone technology has transformed aerial survey and inspection services and they are increasingly used in on and offshore industries in the recent years. Use of drones are extremely safe as they avoid the use of rope access inspections in oil and gas industry that take much longer time and result in huge costs. Drone inspections enable to gather critical data for asset integrity management in oil and gas installations. These data collection has been a real game changer, giving a more time- and cost-efficient way of ensuring asset integrity. Moreover, doing this on a regular basis allows for detailed monitoring and planning while reducing risks for operating personnel. More importantly, drone inspections enable operators to avoid unplanned shutdowns. Operators get data on the true state of a particular operational asset, which allows them to address an issue at the first sign of an issue.

Global Drones for Energy Industry Market is predicted to grow at approximately 8.5% by 2023

The market has been analyzed based on industry types, applications, drone types and regions. On the basis of industry type, the oil and gas, power and utility and clean energy sectors are expected to dominate the market for drones for energy industry. There is rise in the use of drones for pipeline inspection, wind turbine ware and tare monitoring and also identifying new deposit of resources in remote regions. On the basis of application, rig inspection, pipeline leak & spillage response and security & surveillance of energy resources major use drones. Different types of drones, such as fixed wing drone, rotary blade done, nano drones and hybrid drones, are used in these operations.

Key Players:

The major players operating in the market of global drones for energy industry are AeroVironment, Inc. (US), DJI (China), Aeryon Labs Plc. (UK), Aibotix GmbH Limited (UK), Ascending Technologies Inc. (Canada), UAVision. (Canada), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada), and Microdrones (Germany) among others.

 

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Market Research Analysis

Oil and Gas industry is expected to grow at the highest rate.

With unexpected drop in crude oil prices, the oil and gas industry is finding ways to cut costs incurred in exploration and inspection activities and drones are increasingly seen as the smart tech to make cost savings. The growing utilization of drones in the oil and gas segment is due to the ability of drones to inspect pipeline faults and predict operational failures. Moreover, drones are used to access remote regions to find new potential deposits and oil sources. Drones can also carry additional sensors such as thermal cameras, ultrasonic sensors, and laser scanners, which further aids in oil and gas inspection activities.

 

Regional Analysis:

Geographically, Asia-Pacific is the largest power producer globally, and is the largest market for renewable energy generation across the globe. The drones for energy industry market is emerging in countries such as China, India, and Japan, and is estimated to grow at a high rate in the forecast period. North America is expected to show a high rate of growth in drones for energy industry market over the coming years, owing to increase in adoption of drones for inspection, leak and spillage detection, and surveillance activities, majorly in oil & gas and power sectors. Factors such as increase in inspection, maintenance and surveillance operations of oil & gas platforms, power plants, pipelines, solar plants, and wind turbines in the region driving the market towards growth.

 

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