Drones for Energy Industry Market  Scope Report

Global Drones for Energy Industry Market Highlights Over 2023 - 2033

The global drones for energy industry market is estimated to garner a revenue of USD 150.0 Million by the end of 2033 by growing at a CAGR of ~20% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 45.0 Million in the year 2022. The growth of the market can be attributed to the rising use of clean energy alternatives. According to the International Energy Agency, the amount of energy generated through wind increased by nearly 273 TWh in the year 2021.

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A drone is a type of unmanned aircraft. Drones are also referred to as unmanned aerial vehicles (UAVs) or unmanned aircraft systems (UAS). A drone is essentially a flying robot that can be controlled remotely or autonomously by software-controlled flight plans in its embedded systems, which work in conjunction with onboard sensors and a global positioning system (GPS). Moreover, recent developments have enabled countries around the world to shift to renewable energy sources through developing their energy infrastructure. Therefore, the growing construction of solar farms is anticipated to surge the growth of the global drones for energy industry market. For instance, the solar farm pipelines have covered more than 900 sites in the United Kingdom generating more than 30GWpdc capacity.

Global Drones for Energy Industry Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Environmental Issues – Drones helps in reducing car emissions owing to their small payloads that makes them ideal for small deliveries. Hence, it is anticipated to surge the growth of the global drones for energy industry. As per the United States Environmental Protection Agency, nearly 4.6 metric tons of carbon dioxide are emitted every year.

• Surging Adoption of Drones– According to the United States Department of Transportation, there are nearly 865,505 drones registered in the United States till May 2022.

• Growing Investment in UAV Services by Energy Sector– As per the India Brand Equity Foundation, the world’s largest drone fund to invest an amount accounted for USD 40 Million in UAV ecosystem in India.

• Surging Requirement to Monitor Ocean-Going Ships- More than 70 per cent of the goods worldwide are transported by ship.

Challenges

• Lack of Skilled Manpower

• High Cost for the Drone System

• Strict Regulations for Drone Operations

The global drones for energy industry market is segmented and analyzed for demand and supply by industry into power & renewable, and oil & gas. Out of these, oil & gas segment is anticipated to hold the largest share over the forecast period owing to the increasing leakages, corrosion and other issues related to oil & gas rigs and pipelines. Approximately 70 per cent of the petroleum and crude oil products are shipped by pipeline.

Global Drones for Energy Industry Market Regional Synopsis

Regionally, the global drones for energy industry market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of rising demand for energy consumption, followed by a rise in urbanization and population rate. For instance, primary energy consumption amounted to more than 270 exajoules in Asia Pacific region in the year 2021.

Market Segmentation

Our in-depth analysis of the global drones for energy industry market includes the following segments:

Key Companies Dominating the Global Drones for Energy Industry Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global drones for energy industry market that are included in our report are AeroVironment, Inc., Microdrones, Ascending Technologies, Inc., ING Robotic Aviation Inc., Draganfly inc., Aibotix GmbH, Univision Communications Inc., SZ DJI Technology Co., Ltd, Dronevolt, Terra Drone, ABJ Drones, and others.

Global Drones for Energy Industry Market: Latest Developments

• April, 2022: Dronevolt announced the partnership with PRAGMA INDUSTRIES in order to create long-range hydrogen drones that has the capability of flying over long distances with H2 fuel cells.

• September, 2022: SZ DJI Technology Co., Ltd announced its top drone models earned United States Federal Aviation Administration approval for complying with the FAA’s Remote Identification protocol.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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