Oil and Gas Automation and Control Systems Market
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.
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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. On the basis of application, the market is divided into Upstream, Midstream, Downstream, Onshore, and Offshore. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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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. Furthermore, increase in oil and gas refineries are also expected to support the growth of oil & gas automation & control systems market.
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