The Industrial Automation Oil And Gas Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Industrial Automation Oil And Gas Global Market Report 2024, The industrial automation oil and gas market size has grown strongly in recent years. It will grow from $16.82 billion in 2023 to $18.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to oil and gas industry digitization, increasing focus on operational efficiency, growth in exploration and production activities, need for safety and compliance, expansion of offshore drilling.
The industrial automation oil and gas market size is expected to see strong growth in the next few years. It will grow to $23.82 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to demand for remote monitoring and control, adoption of scada (supervisory control and data acquisition) systems, growth in unconventional oil and gas resources, implementation of advanced process control (apc), expansion of industrial internet of things (iiot), emphasis on cybersecurity in industrial automation, adoption of cloud-based automation solutions, increased use of wireless sensor networks
. Major trends in the forecast period include advances in control systems and sensors, integration of artificial intelligence in automation, rise of robotics and autonomous systems, focus on energy efficiency and sustainability, collaboration between automation providers and oil companies, development of digital twins for asset management, use of augmented reality in training and maintenance.
The increasing usage of the Internet of Things (IoT) is expected to propel the growth of the industrial automation oil and gas market going forward. The Internet of Things (IoT) is a networked system of interconnected computing devices, mechanical and electronic machinery with unique identities (UIDs), and the capacity to transfer data without needing human-to-human or human-to-computer contact. The oil and gas industry can achieve real-time monitoring and data collection by integrating IoT devices and sensors into various components and processes. It allows for efficient tracking of equipment performance, environmental conditions, and safety parameters, resulting in better predictive maintenance and reduced downtime. For instance, in March 2023, according to a report published by the Global Mobile Supplier Association (GSA), a UK-based not-for-profit industry organization representing suppliers in the mobile communication industry, the global IoT connections reached 13.2 billion in 2022 and are expected to increase by 18% to 34.7 billion by 2028. Therefore, the increasing usage of the Internet of Things (IoT) drives the industrial automation oil and gas market.
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The industrial automation oil and gas market covered in this report is segmented –
1) By Component: Industrial Robots, Control Valves, Field Instruments, Human Machine Interference (HMI), Industrial PC, Process Analyzer, Intelligent Pigging, Vibration Monitoring
2) By Stream: Upstream, Midstream, Downstream
3) By Solutions: Supervisory Control And Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control Systems (DCS), Manufacturing Execution System (MES), Functional Safety, Plant Asset Management (PAM)
Product innovations are a key trend for gaining popularity in the industrial automation oil and gas market. Major companies operating in the industrial automation oil and gas market are introducing best-in-class software tools in the oil and gas industry to sustain their position in the market. For instance, in June 2022, GE Digital LLC, a US-based company that provides data analysis and services related to software development, launched the Accelerator tools, which include best-in-class software tools to assist companies in asset-intensive energy industries in quickly configuring their asset performance management (APM) and other offerings. It is intended to accelerate time to value, scale APM to a wider variety of assets, and assist organizations in gaining financial value at their facilities and throughout the enterprise. It is applicable throughout the whole energy value chain, from oil and gas to power-generating assets ranging from renewable energy to more typical gas power and nuclear production facilities. Companies may rapidly build up enterprise-level asset reliability and performance programs using advanced pre-built product configurations, incorporating prioritized actionable information into everyday operations.
The industrial automation oil and gas market report table of contents includes:
1. Executive Summary
2.Industrial Automation Oil And Gas Market Characteristics
3. Industrial Automation Oil And Gas Market Trends And Strategies
4.Industrial Automation Oil And Gas Market analysis
5.Industrial Automation Oil And Gas Market Size And Growth
6.Industrial Automation Oil And Gas Segmentation
7.Industrial Automation Oil And Gas Regional And Country Analysis
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27.Industrial Automation Oil And Gas Competitive Landscape And Company Profiles
28.Industrial Automation Oil And Gas Key Mergers And Acquisitions
29. Industrial Automation Oil And Gas Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Siemens AG
- General Electric Company
- Mitsubishi Electric Corporation
- Schneider Electric SE
- Honeywell International Inc
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According to the new market research report "Industrial Automation Oil & Gas Market With COVID-19 Impact, by Component (Control Valves, HMI, Process Analyzers, Intelligent Pigging, Vibration Monitoring), Solutions (SCADA, PLC, DCS, MES, PAM), Stream and Region - Global Forecast to 2025", the industrial automation oil & gas market is projected to grow from USD 14.9 billion in 2020 to USD 18.7 billion by 2025; it is expected to grow at a CAGR of 4.7% from 2020 to 2025.
Browse 210 market data Tables and 47 Figures spread through 220 Pages and in-depth TOC on "Industrial Automation Oil & Gas Market With COVID-19 Impact, by Component (Control Valves, HMI, Process Analyzers, Intelligent Pigging, Vibration Monitoring), Solutions (SCADA, PLC, DCS, MES, PAM), Stream and Region - Global Forecast to 2025"Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1289 The field instruments to hold the largest size of the components in industrial automation oil & gas market by 2025.Field instruments market is expected to hold the largest share during the forecast period.
Field instruments comprise four types of transmitters—pressure, temperature, level, and vibration level switch, which are used for various processes involved in instrumentation.
Pressure transmitters are extensively used in the oil and gas sector for the measurement of flow, level, pressure, density, and viscosity, among which flow measurement is the most common application area.
The DCS is projected to account for the largest size of the solutions in industrial automation oil & gas market by 2025.The oil & gas sector is a major application area for solutions such as PLC, SCADA, DCS, and safety automation; however, the declining prices of oil and reducing oil & gas projects are expected to lead to the steady growth of these markets.
APAC projected to be the largest market for a industrial automation oil & gas from 2020 to 2025.The growth of this market is driven by the flourishing manufacturing industry with continuously changing trends and ongoing advancements in automation technologies.
Terminal automation is a system that eases the product handling at the terminal and enables integration of these operations with the business software.
It is used to measure, control, automate, and report all the exchanges and transfers.
It offers complete management from receipt of the product to inventory control to dispatch recording.The Terminal Automation in Oil and Gas market was valued at 820 Million US$ in 2018 and is projected to reach 1390 Million US$ by 2025, at a CAGR of 6.9% during the forecast period.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Terminal Automation in Oil and Gas.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-terminal-automationoil-gas-2025-379This report presents the worldwide Terminal Automation in Oil and Gas market size (value, production and consumption), splits the breakdown (data status 2014–2019 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter’s Five Forces Analysis.The following manufacturers are covered in this report:ABBEmersonImplico GroupSchneider ElectricYokogawaTerminal Automation in Oil and Gas Breakdown Data by TypeHardwareSoftwareServicesTerminal Automation in Oil and Gas Breakdown Data by ApplicationGas TerminalOil TerminalTerminal Automation in Oil and Gas Production by RegionUnited StatesEuropeChinaJapanOther RegionsTerminal Automation in Oil and Gas Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandVietnamThe study objectives are:To analyze and research the global Terminal Automation in Oil and Gas status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Terminal Automation in Oil and Gas manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.In this study, the years considered to estimate the market size of Terminal Automation in Oil and Gas :History Year: 2014–2018Base Year: 2018Estimated Year: 2019Forecast Year: 2019–2025This report includes the estimation of market size for value (million USD) and volume (K Units).
Both top-down and bottom-up approaches have been used to estimate and validate the market size of Terminal Automation in Oil and Gas market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research.
The Global Oil & Gas Automation & Control Systems Market size is estimated to be USD 25.29 billion in 2019 and is predicted to reach USD 68.63 billion by 2030 with a CAGR of 9.5% from 2020-2030.Oil & Gas Automation & Control Systems consist of various components which monitors the flow of oil and gas and control the valve, it mainly consist of sensors which automatically opens and closes the valves for supply.
These systems are advanced and offer various advantages over the conventional systems also provide information regarding damages which can also reduce the accidents.Access Full Description of this report at:- https://www.nextmsc.com/report/oil-and-gas-automation-control-systems-market Top Companies: ABB Ltd., Mitsubishi Electric Corporation, Cameron International Corporation, Emerson Electric Company, Honeywell International, Rockwell Automation, Siemens AG, Yokogawa Electric Corp., Schneider Electric, Texas Instruments, General Electric and others.The global oil & gas automation & control systems market share is analyzed on the basis of technology, application and geography.
On the basis of technology, the market is segmented into Distributed Control System (DCS), Programmable Logic Controller (PLC), Safety Instrumented System (SIS), Supervisory Control and Data Acquisition (SCADA), Manufacturing Execution System (MES), and Other.
Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.Request free sample copy of this report at:- https://www.nextmsc.com/oil-and-gas-automation-control-systems-market/request-sample North America denotes a higher adoption of the oil & gas automation & control systems and is anticipated hold the highest market share during the forecast period.
This is attributable to the factors including presence of well-established infrastructure, increase in the government projects to increase the production of oil and gas coupled with technological advancements are expected to contribute the growth of oil & gas automation & control systems market.
Asia Pacific is expected to show rapid growth with gradual increase in market share owing to the presence of developing economies such as India, china and others.
