Global Drones Market for Energy Industry is projected to reach a market size of 8,390.5 million with CAGR 25.53% from 2020 to 2025 (forecast period). The report involves the COVID-19 analysis of the global drones market for energy industry. It offers a detailed overview of market segments, current trends, growth, market forecasts, and challenges from 2020 to 2025 (forecast period) to identify current market opportunities.
Drones changed aerial surveys and inspection services. The advancement of battery technology and sensors has significantly transformed the operation of drones. Drones are flying devices that carry cameras to places that are difficult to reach. Often the challenge is likely to be physical or economic. The energy sector, including oil & gas, renewable energy, and power & utility, will employ drones mainly for inspection and real-time observation from remote locations. Until recently, engineers worldwide would manually track oil wells, wind turbines, and oil and gas pipelines for any kind of inspection.
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Global Drones Market for Energy Industry is an evolving market and is expected to experience high growth over the forecast period. The growth of the drones for energy industry is strongly influenced by the complexity of remote and discreet systems inspection and monitoring. Drones in the energy sector are expected to expand at a substantial pace as the industry invests in UAV services, in line-of-sight applications, in ocean-going applications, refineries, tracks power lines and solar panels.
However, the federal regulations limiting the use of drones and the lack of technological advances in the processing of raw data restrict the growth of the drones for energy Industry.
The leading participants in the Global Drones Market for Energy Industry are AeroVironment, Inc. (US), DJI (China), Aeryon Labs PLC (UK), Aibotix GmbH Limited (UK), Ascending Technologies Inc. (Canada), Univision (Canada), Drone America (US), Draganfly Innovations Inc. (US), ING Robotic Aviation (Canada), and Microdrones (Germany).
Global Drones Market for Energy Industry has been segmented based on drone type, industry type, application, and technology.
Based on drone type, fixed-wing drone held the largest market share of 49.7% in 2016 and is projected to grow at a CAGR of 25.08% during the forecast period.
Based on industry type, oil & gas held the largest market share of 67.2% in 2016 and is projected to grow at a CAGR of 25.03% during the forecast period.
Regionally, the global Drones Market for Energy Industry has been segmented into Asia Pacific, Europe, North America, Middle East & Africa, and Latin America,
The Asia Pacific is the world’s largest producer of energy and the world’s largest market for renewable energy generation. The drones for energy industry market is growing in countries like China, India, and Japan, and is expected to expand at a high rate in the forecast period.
North America is expected to grow at a high rate in the coming years due to an increase in the use of drones for inspection, leaks and spill detection and surveillance activities, mainly in the oil & gas and power sectors. Factors such as increased inspection, maintenance, and surveillance of oil and gas platforms, pipelines, power plants, solar power plants, and wind turbines in the area are pushing the market towards growth.
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