Market Size of Europe Oil & Gas Drones Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 55.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Oil Gas Drones Market Analysis
The Europe oil and gas drones market is expected to grow at a CAGR of over 55% during the forecast period of 2020 - 2025. Factors such as cost-effectiveness and efficient inspection and monitoring methods are expected to help drive the market for drone services in the region. However, the security risk associated with the use of drone for attacks on oil and gas infrastructure has pushed back the government approval for the use of drones in various countries and it is expected to restrain the growth of the market, during the forecast period.
- Low cost and increasing applications of drone services in the oil & gas industry are expected to be the major driving force for the market being studied in forecast period.
- Norway is expected to dominate the market, owing to the increase in demand for oil and gas drone services in the country for the surveillance, inspection, and monitoring of the oil and gas platform.
- The demand for oil and gas production has always been on an increase, but due to volatility of oil & gas prices the companies are forced to look for alternative cost and time efficient methods of inspection, surveillance, etc. this in turn is expected to help grow the market in the forecast period.
