ReportsnReports.com includes Global Oil & Gas Process Automation & Instrumentation Market Forecast 2017-2024 report is the latest addition to Industry research reports collection. The report is about 142 pages and provides 25 Table List; the report is published in July -2017.
The global oil and gas process automation market can be divided on the basis of solutions, technologies, and instruments. The global oil and gas process automation and instrumentation market is anticipated to grow at a CAGR of 4.13% during the forecast period of 2017 – 2024. The Middle East and Africa region held the highest revenue share for the year 2016.
Some of the factors responsible for propelling the market growth are the improved production efficiency and plant safety, huge investments in R & D, increased crude production rate due to automation & instrumentation, rising demand for oil & gas globally and the need for software to detect and reduce failures.
The solutions are segmented into Hardware solutions, Software solutions, Services. Technologies are segmented into DCS (Distributed Control System), PLC (Programmable Logic Controller), SCADA (Supervisory Control and Data Acquisition), ACS (Automation and Control System), MES (Manufacturing Execution System), SIS (Safety Instrumented Systems), Others. Instruments are segmented into Field instruments, Communication devices, Control valves, Other instruments.
Manufacturing Execution Systems that keeps track of all manufacturing information in real time, receiving up-to-the-minute data from robots, machine monitors, and employees, is anticipated to grow at a CAGR of 6.83% during the forecast period.
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The global oil and gas process automation is divided into following regions:
•- North America – U.S. & Canada
•-Asia-Pacific – China, India, Indonesia, Malaysia, and RoAPAC
• -Europe – Russia, Germany, France, UK, Italy, and RoE
• -The Middle East and Africa – Saudi Arabia, Iraq, United Arab Emirates, Kuwait, Iran, and RoME&A
• - Latin America – Venezuela, Brazil, Mexico, Argentina, and RoLA
The major players in the global oil and gas process automation market include ABB Ltd., Schneider Electric SE, Rockwell Automation, Mitsubishi Electric Corp., General Electric Corp., Others.
All these companies are using different strategies to capture the growth potential in the market. For example, Yokogawa Electric Corporation announced the acquisition of Industrial Evolution, Inc. to strengthen its provision of advanced solutions for the process industries, the Rockwell Automation introduced the Allen-Bradley Stratix 5950 security appliance to help protect plant-floor systems, etc.
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