According to our latest study on "Smart Casing Running Tool Market Size and Forecast (2021-2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Hardware, Sensor Kit Type, Software, Sales, Aftermarket Sales Channel, Application, Technology, and Geography," the smart casing running tool market size was valued at US$ 1.70 billion in 2024 and is anticipated to reach US$ 2.67 billion by 2031. The smart casing running tool market is estimated to record a CAGR of 6.8% from 2025 to 2031.

Digitalization and Automation in Oilfields to Boost Smart Casing Running Tool Market Growth During Forecast Period

The ongoing digitalization and automation of oilfield operations drive the smart casing running tool market. As the oil and gas industry increasingly adopts IoT, real-time data analytics, machine learning, and remote monitoring technologies, there is a clear shift toward integrating smart tools that enhance operational visibility, efficiency, and control. Smart casing running tools, equipped with sensors and digital interfaces, fit seamlessly into this evolving digital ecosystem by enabling automated casing deployment, real-time torque and drag measurement, and remote operation-critical capabilities for reducing human error, improving decision-making, and optimizing performance in complex wells. This trend is particularly relevant in offshore and high-risk environments, where the need for precision and minimal intervention is high. By leveraging digitalization, these tools can alert operators to potential issues before they escalate, enable predictive maintenance, and streamline casing operations while contributing to safer and more cost-effective well construction. In a market where downtime is expensive and efficiency is paramount, integrating smart casing tools supports the broader industry goal of creating smart wells and fully digital oilfields. As a result, the increased adoption of digital technologies across the upstream sector directly accelerates the demand for smart casing running tools.

Nabors' SmartROS rig automation system and RigCLOUD digital platform are reshaping modern drilling operations by making advanced automation and real-time data analytics accessible across a broad range of rig types, including non-Nabors AC rigs. These technologies are specifically engineered to enhance operational efficiency and support consistent, high-precision drilling performance. The ability to deploy these systems universally positions them as transformative tools within the broader push toward digital oilfield operations. The RigCLOUD optimization platform has played a pivotal role in advancing digital drilling capabilities across the Eastern Hemisphere. By enabling real-time data acquisition, visualization, and analytics, RigCLOUD empowers operators to make faster, more informed decisions at the rig site and remotely. The platform's compatibility with Wellsite Information Transfer Standard Markup Language (WITSML) facilitates seamless data sharing and integration, enhancing interoperability between systems and promoting a more unified, data-driven approach to drilling.

This level of automation and data intelligence directly impacts the smart casing running tool market. As drilling operations become increasingly digital, the demand for smart tools that can interface with platforms such as SmartROS and RigCLOUD is growing rapidly. Smart casing running tools-equipped with sensors, telemetry systems, and control automation-are essential components of this ecosystem, delivering real-time torque, drag, and casing depth data that can be analyzed and optimized through digital platforms. Furthermore, the ability to remotely operate and monitor casing operations enhances safety, reduces human intervention, and improves overall wellbore integrity. The proliferation of digital infrastructure in oilfield services is not only transforming how drilling is conducted but also significantly accelerating the adoption of smart casing running tools.

Smart Casing Running Tool Market Report: Key Findings

The smart casing running tool market analysis is based on segmental assessment. The hardware segment is divided into remote display, sensor kit, head assembly, gripping assembly, circulator assembly, power supply, and other accessories. The sensor kit segment is subsegmented into torque and tension sensor, position sensor, data transmission sensor, and others. The software segment is bifurcated into inbuilt and optional. The sales segment is bifurcated into direct sales and aftermarket. The application segment is divided into onshore, offshore, and others. The technology segment is categorized into fully automated CRTs, remotely operated CRTs, and hybrid CRTs. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America.

The South and Central America smart casing running tool market is poised for sustained growth, underpinned by significant expansion in the region's refining and upstream oil and gas sectors. According to the OPEC Annual Statistical Bulletin 2022, refinery capacity in South America grew from 6,618 thousand barrels per day (kb/d) in 2018 to 6,648 kb/d in 2021, reflecting steady investment in midstream infrastructure. Countries such as Brazil, Argentina, and Colombia are spearheading this growth through large-scale refinery upgrades and integrated energy projects. In Argentina, the bulk of upstream investment is concentrated in the Vaca Muerta shale formation, one of the largest unconventional resources globally. Key operators such as YPF, Vista Energy, Shell, and Pluspetrol (which recently acquired ExxonMobil's shale assets) are driving an aggressive drilling agenda, increasing the demand for high-performance smart casing running tools while reducing reliance on on-site technicians and improving productivity.

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