The global rig control system market is predicted to reach more than US$ 800 Mn in 2022 and grow at a CAGR of 3.2% by value over the assessment period of 2022–2032, according to market research by Fact: MR, a supplier of competitive intelligence and market research. By integrating control and information systems, the digital drilling control system (DDCS) portfolio improves operational safety and security. The HMI (human machine interface), which uses intuitive hand controls and targeted data, is interactive. HMI screen menus offer easy access to information where parameters can be changed to combine accuracy with condensed activity-based information.
The system delivers several benefits in drilling and other operations, which includes local-to-remote operator control exchange, selectable number of pumps running, stroke per minute command, and feedback and synchronization of pumps to provide steady pressure and flow output. As such, expanding exploration of unconventional reservoirs is likely unfold promising opportunities for rig control system manufacturers in the near future.
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Key Takeaways from Market Study
- By rig type, offshore rigs are expected to remain the most attractive in the global rig control system market and surpass a valuation of US$ 655 Mn by 2032.
- Oil & gas well drilling application is projected to account for the highest valuation of US$ 630 Mn by 2032.
- On the basis of technology, the software segment is likely to grow 1.3X by value and create revenue worth US$ 745 Mn by 2032.
- The Middle East & Africa region is expected to enjoy a valuation of US$ 311.8 Mn by 2032.
- North America is set to gain 134 BPS from 2022 to 2032.
- Utilization of rig control systems in offshore platforms is projected to surge 1.3X over the forecast period.
“Growth in safe and sustainable oil & gas drilling and mining activities to surge demand for rig control systems in the near future.” says a Fact.MR analyst.
Leading manufacturers are collaborating with oil & gas companies to establish a strong customer base. Service providers are creating ample of opportunities for strategic capital expansion. In addition to this, growing safety regulations in the oil & gas industry is projected to surge the deployment of rig control systems across prominent regions.
Schlumberger, Baker Hughes a GE Company, Halliburton, Rockwell Automation, Epiroc, Petrofac, Weatherford International, Stena Drilling, Diamond Offshore Drilling, Saipem, China Oilfield Services Limited (COSL), Nabors Industries, Transocean Ltd., KCA Deutag Alpha Limited, Valaris Limited, Lanzhou Lanshi Group Co., Ltd., National Oilwell Varco Inc., Rowan Offshore, Seadrill Limited, Noble Corporation, and Dolphin Drilling are some of the prominent manufacturers of rig control systems.
Key Segments of Rig Control System Industry Survey:
Rig Control System Market by Rig Type:
- Onshore Rig Control Systems
- Drilling Rig
- Offshore Rig Control Systems
Rig Control System Market by Technology:
- Rig Control System Hardware
- Rig Control System Software
Rig Control System Market by Application:
- Rig Control Systems for Mining
- Rig Control Systems for Oil & Gas Well Drilling
- Rig Control Systems for Workover Operations
Rig Control System Market by Region:
- North America Rig Control System Market
- Latin America Rig Control System Market
- Europe Rig Control System Market
- East Asia Rig Control System Market
- South Asia & Oceania Rig Control System Market
- MEA Rig Control System Market
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global rig control system market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of basis of rig type (onshore (drilling rigs and workover rigs) and offshore (jack up rigs, semi-submersible, drill ships, and others), technology (hardware and software), and application (mining, oil & gas well drilling, workover operations, and others), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia& Oceania, and the Middle East & Africa).