Global Oil & Gas Automation & Instrumentation Market is expected to drive on account of increased crude production rate owing to automation & instrumentation employment in exploration process. Over the recent past, implementation of automation & instrumentation in oil & gas industry has established as an important step by industry participants for quick operations and improved performance.
Further, global growth is expected to be driven by continuously increasing global petroleum products demand coupled with developing sophisticated work flow requirement in oil & gas organizations. Increasing importance for functional time reduction through automation and instrumentation is expected to have a positive impact on the global industry.
Automation & instrumentation improves process efficiency & safety. It also helps in easy monitoring of the overall process. Such favorable features are expected to fuel the global market demand over the forecast period. Easy implementation in production as well as in oil & gas refining operations is expected to drive the global industry demand over the forecast period.
Automation & instrumentation solutions allow industries to implement secured ways of production. Complications involved in shale gas exploration in addition to need of upgraded machines are expected to drive the market for next six years mainly in North America and China. Lower oil & gas resources availability is expected to challenge the overall industry growth over the forecast period.
Data integration complexities on account of automation & instrumentation are expected to hinder market growth. Initial installed systems in mature economies of U.S., Canada and EU has left less scope for further expansions in the region.
Growth of conventional energy industry on account of rising energy demand in emerging economies of Asia Pacific and Latin America is expected to create opportunities for market players.
Oil & gas automation & instrumentation is segmented on the basis of technology and operation. Technology segment includes process automation, process instrumentation, process analyzer, flow computers and leakage detection systems.
Process automation is further categorized into Manufacturing Execution Systems (MES), SCADA (Supervisory Control and Data Acquisition) Systems, Programmable Logic Controllers (Plc) and Distributed Control Systems Market (DCS). Process instrumentation is segmented into Temperature Transmitters, Level Transmitters, Pressure Transmitters and Flow Transmitters.
Operation segment includes upstream, midstream and downstream. Midstream is further categorized as piping or pipeline and secondary logistics. Middle East possesses highest market share on account of large number conventional energy reservoirs in the region. The region is also expected to witness high growth over the foreseeable future on account of continuously increasing exploration & production activities.
Eastern Europe is expected to register remarkable growth, mainly driven by CIA countries. North America is expected to experience significant growth owing to shale gas developments in the region. Asia Pacific covered significant market share and is expected to witness high growth on account of oil & gas infrastructure development coupled with government initiatives promoting conventional energy industry.
Increasing demand for petroleum products and subsequent pressure on oil & gas companies to increase production is expected to create new opportunities for the global market players. Key market players operating in global oil & gas automation & instrumentation market include ABB Ltd., Yokogawa Electric Co, Alstom, Weatherford International Ltd, Baker Hughes Inc., Tyco International Ltd, BP Plc, Sigit Inc., Eaton Corp PLC, Siemens Ag.
Visit Our Website: http://www.grandviewresearch.com
