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Industrial Automation Market: Global Forecast until 2023

  • June 2017
  • 194 pages
  • ID: 4960853
In this report:
The industrial automation market for oil & gas in China and India is expected to grow at a CAGR of ##.##% and ##.##%, respectively, between 2017 and 2023.
The Saudi Arabia accounted for the largest share of ~##% of the industrial automation market for oil & gas in the Middle East in 2016, and it is expected to grow at a CAGR of ##.##% between 2017 and 2023.

Summary

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"The industrial automation market for oil & gas is expected to display significant increase potential between 2017 and 2023"

The industrial automation market for oil & gas is forecasted to reach ~$15.5B by 2023, at a compound annual growth rate (CAGR) of 3.20 percent between 2017 and 2023. Key driving factors for the increase ot the industrial automation market for oil & gas are the need for optimum and effective exploration of aging reservoirs and the Internet of Things adding value to the industrial automation for the oil & gas sector. Nevertheless, the instability of the oil & gas market in Middle Eastern countries, growing shift toward the adoption of renewable energy sources, and declining and fluctuating oil and gas prices are considered to be main restraints for the industrial automation market for oil & gas.

"DCS is planned to hold a main share of the industrial automation market for oil & gas during the estimate period."

Distributed control system is intended to hold a main share of the market by 2023. The distributed control system controls different components that are distributed in the global system of industrial automation for oil & gas, enabling the maintenance of digital communication between several components including distributed controllers, workstations, and other computing elements. The DCS controls processes including oil & gas refineries, pipeline transport, and extraction in the oil & gas market.

"Field instruments market forecasted to hold the most important size of the industrial automation market for oil & gas"

The field instruments market is forecasted to hold the biggest size of the industrial automation market for oil & gas in 2017. Field instruments include three types of transmitters-pressure, temperature, and flow, which are used for different processes engaged in instrumentation. Pressure transmitters are extensively used in the oil and gas market for the measurement of flow, level, pressure, density, and viscosity, among which flow measurement is the most common application area.

"The industrial automation market for oil & gas in Asia-Pac forecasted to grow at the highest level rate during the outlook period"

The industrial automation market for oil & gas in Asia-Pacific is anticipated to grow at the maximal rate between 2017 and 2023. The industry demand for industrial automation for oil & gas is very high in APAC due to the growth in the number of refinery plants and other related plants in the oil & gas sector. The implementation of automation is rising in Asia-Pac as a result of the increasing demand for high-quality products together with increased production rates. It also helps reduce labor costs and human interference.

Breakdown of the profiles of primary members taking part for the study has been provided below:

• By Company category: Tier 1 = 49.0 percent, Tier 2 = 30.0 percent, and Tier 3 = 21.0 percent

• By Description: C-suite executives = 58.0 percent, Directors = 28.0 percent, and Others = 14.0 percent

• By Area: The whole Americas = 35.0 percent, EU = 19.0 percent, Asia-Pacific = 30.0 percent, and the Middle East area and African continent = 16.0 percent

The top players in the industrial automation market for oil & gas contain ABB, Emerson Electric (NYSE:EMR), Honeywell (NYSE:HON), Schneider Electric (SU), Siemens (SIA), Endress+Hauser AG, General Electric (NYSE:GE), Mitsubishi Electric (TSE:6503), Rockwell Automation Inc., and Yokogawa Electric (TYO:6841).

Segment Research

The research report examines the industrial automation market for oil & gas established on solution, instrument, and territory. The market has been split on the basis of solution into supervisory control and data acquisition, programmable logic controller, human-machine interface, distributed control systems, safety automation, advanced process control, and manufacturing execution system. On the basis of instruments, the industrial automation market for oil & gas has been categorized into field instruments, control valves, leakage detection system, and flow computer. The analysis includes the market broken down on the basis of 4 main regions: the whole Americas, Europe (EU), Asia-Pac, and the Middle East (ME) and African continent.

Main highlights

Figures of segmentation, study, and estimate for the sector established on solution, instrument, and area have been organized to give an global view of the industrial automation market for oil & gas.

The value chain study has been utilized to provide a detailed insight into the industrial automation market for oil & gas.

Main drivers, market restraints, alternatives, and opportunities for the industrial automation market for oil & gas have been precised in this industry report.

The market research includes an exhaustive competitive analysis together with top players and their revenue.

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