Industrial Automation Oil & Gas Market to reach USD 26.16 Bn. by 2029 Strategic Analysis, Growth Drivers, Industry Trends, Demand and Future Opportunities till 2029

December 15 19:40 2022
Industrial Automation Oil & Gas Market to reach USD 26.16 Bn. by 2029 Strategic Analysis, Growth Drivers, Industry Trends, Demand and Future Opportunities till 2029
Industrial Automation Oil & Gas Market
Industrial Automation Oil & Gas Market size was valued at US$ 10.06 Bn. in 2021 and the total revenue is expected to grow at a CAGR of 4.7% through 2022 to 2029, reaching nearly US$ 26.16 Bn.

Pune, 15, Dec2022: The Industrial Automation Oil and Gas Market report published by Maximize market Research, the market is expected to grow from USD 10 billion in 2021 to USD 26.16 billion in 2029, at a CAGR of 4.7 percent for the forecast period from 2022 to 2029.

Industrial Automation Oil & Gas Market Scope and Research Methodology

The market study provides a thorough review of all the noteworthy advancements that are currently in place across all industry sectors. Statistics are used to highlight key data analysis. The report includes the market’s drivers, restraints, opportunities, and challenges for industrial automation. The research identifies how to use these factors as a tool and assesses the market growth drivers. The research aids in addressing and correcting problems with the state of the global industrial automation oil and gas industry. The research includes profiles and a strategic overview of all significant international Industrial Automation Oil & Gas firms. The study focuses on analysing the industry’s drivers, challenges, constraints, and opportunities in order to better understand the underlying dynamics that affect the industrial automation oil and gas market.

The size of the worldwide market has been estimated and validated using the bottom-up methodology. By determining the overall production volumes and examining demand patterns and potential, the market size is calculated in terms of volume. The research studies and analyses both the major players and the regional ones. The analysis of the workings of the nations’ import and export, as well as their production and consumption, is done by segments and sub-segments. PESTLE analysis was employed to understand the potential impact of the micro-economic factors affecting the Industrial Automation Oil & Gas Market. Thus the report provides a detailed overview of the Industrial Automation Oil & Gas Market.

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Industrial Automation Oil & Gas Market Overview

Oilfield automation commonly referred to as oil & gas automation, refers to an increasing number of procedures, many of which use digital technology and can assist energy companies compete more successfully on the international market. Drilling, production, operations and process control, logistics and supply chain, safety, and retail operations are some of the top possibilities for oil and gas automation. Artificial intelligence and self-luring systems are employed in sensors-based oil and gas automation to boost output, boost effectiveness, and save costs.

Industrial Automation Oil & Gas Market Dynamics

The increased demand for oil and gas is what is driving the expansion of the oil and gas automation sector. The industry has seen first-hand how crucial automation is particularly in situations where a human workforce is unable to perform consistently well. For instance because to their distinct operational environment and environment, offshore oil and gas industries profited substantially from automation. Despite being regularly manned, many offshore installations are evacuated prior to hurricanes. Because they could minimise or completely eliminate production losses caused by humanly operated platforms being shut down during an evacuation, many automation initiatives were justified. Automated platforms have proven their potential to continue operating in production for far extended periods of time, producing significant, verifiable cost savings. So, the integration of automation in oil & gas industry is expected to be lucrative.

These expensive software systems and solutions used in Industrial Automation Oil & Gas Market require trained operators who must gradually get familiar with new advancements. The components that must be monitored in the oil and gas business vary widely due to the different characteristics and processes involved, making it challenging to integrate all of the data. The hostile environment in which the components are installed might cause them to fail or necessitate repair over time. These parts could gather inaccurate data, if they are not tracked simultaneously. This is going to be a major restraint for the market as the operation cost is very costly.

Industrial Automation Oil & Gas Market Regional Insights

China, India, and Indonesia are the top three oil producers in the Asia Pacific region. More than half of all oil produced in Asia is produced in China, which also imports more oil to suit local demand. Asia needs gas and oil. Asia is now Ground zero for the expansion of the world’s energy and commodity markets. The region’s burgeoning motorization and industrial expansion are being fueled by the region’s rapid economic growth, which is causing a significant increase in the use of oil and LNG.

Industrial Automation Oil & Gas Market Segmentation

By Solutions: 

  • SCADA
  • PLC
  • DCS
  • MES
  • Functional safety
  • PAM

By Component: 

  • Industrial Robot
  • Control Valve
  • Field Instruments
  • HMI
  • Industrial Pc
  • Intelligent Pigging
  • Vibration Monitoring
  • Processes Analyzer 

Industrial Automation Oil & Gas Market Key Competitors: 

  • ABB Ltd. (Switzerland)
  • Endress+Hauser AG (Switzerland)
  • Emerson Electric Co. (US)
  • General Electric (US)
  • Rockwell Automation
  • Inc. (US)
  • Schneider Electric SE (France)
  • Siemens AG (Germany)
  • Mitsubishi Electric Corp. (Japan)
  • Honeywell International Inc. (US)
  • Yokogawa Electric Corp. (Japan).

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Key questions answered in the Industrial Automation Oil & Gas Market are: 

  • What is Industrial Automation Oil & Gas? 
  • What is the growth rate of Industrial Automation Oil & Gas Market for the forecast period? 
  • What is the nature of competition in Industrial Automation Oil & Gas industry in developed and developing economies? 
  • Who are the key players in the Industrial Automation Oil & Gas Market?
  • Who are the market leaders in Industrial Automation Oil & Gas industry in Europe
  • Who are the market leaders in Industrial Automation Oil & Gas industry in USA and Canada
  • Who are the market leaders in Industrial Automation Oil & Gas Market in India, China, Japan and South Korea?
  • What are the factors affecting growth in the Industrial Automation Oil & Gas Market? 
  • Who held the largest market share in Industrial Automation Oil & Gas Market? 
  • What are the factors for the growth of Asia-Pacific region in Industrial Automation Oil & Gas Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Solutions, Component and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading Automation & Process Control research firm, has also published the following reports:

Automation Solutions Market –The Automation Solutions Market size is expected to reach USD 5.59 billion by 2029 at a CAGR of 8.6 percent during the forecast period. The Automation Solutions Market is expected to be driven by increase in miner safety concerns, an improvement in mining activity productivity through automation, regulated expenses such as the elimination of excessive labor costs and time, and the advent of mining automation software.

Automation Testing Market –The Automation Testing Market size is expected to reach USD 57.04 billion by 2029 at a CAGR of 16 percent during the forecast period. The Automation Testing Market is expected to be driven by the benefits of automation testing, such as time savings, transparency, and speed and effectiveness. 

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