“The oil and gas automation market is expected to register a CAGR of over 6.47% during the forecast period, 2019 – 2024.”
In the oil and gas industry processes, there is always a high demand for safety and reliability. The supply chain of this industry creates a great need for automation, industry expertise, and an extensive partner network. Process automation helps oil and gas producers to integrate information, as well as control, power, and provide safety solutions, in order to respond to the dynamic global demand.
- From the past, it is observed that even though the oil prices are fluctuating, the demand for oil and gas remained stable. Price of oil per barrel has gone to a peak level of more than USD 140, and also, a trough low to USD 20, but the average energy consumption is steadily increasing, globally. As of 2017, it was estimated that the world consumed over 98 million barrels of oil every day, indicating a growth of almost 2% when compared to 2016. Such a rate of consumption was primarily spiked by the reduced crude oil prices and increasing demand from automobiles.
- In addition to that, since the low prices of crude hit the market in early 2014, the major consumption groups in the Asian and European countries have predominantly benefited from these changes. In fact, according to the British Petroleum’s estimates, the regions witnessed a towering increase in the refinery capacities and throughputs. The refining capacity and throughput of the Asia-Pacific region spiked by 1.3% and 8.6%, respectively, between 2013 and 2016. It is estimated that the region was able to refine over 27,000 million barrels of oil every day, in 2016, owing to cheaper crude oil.
Top Companies in the Global Oil And Gas Automation Market: Mitsubishi Electric Corporation, Schneider Electric SE, Emerson Electric Co., Eaton Corporation, Dassault Systemes, Honeywell International Inc., ABB Ltd, Rockwell Automation Inc., Yokogawa Electric Corporation, Siemens Corporation, Robert Bosch GmbH, Texas Instruments Inc., Johnson Controls Inc. And others.
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Global Oil And Gas Automation Market Split by Product Type and Applications:
Supervisory Control and Data Acquisition (SCADA)
Programmable Logic Controller (PLC)
Distributed Control System (DCS)
Enterprise Resource and Planning (ERP) is Expected to Register a Significant Growth
ERP systems offer an integrated real-time view of core operations, such as product planning, development, manufacturing, sales, and marketing. At workstations, these ERP systems enable the scheduling and management of the workflow, while implementing a well-organized product cycle, which is done by monitoring the progress of various processes, as well as providing analytical data that aids decision-making. The features reduce excessive inventory costs. Oil and gas industries are among the early adopters for the ERP system, as the operations are highly dependent upon workflow management and market analysis. ERP providers are designing solutions specific to the upstream, midstream, and downstream activities.
Regional Analysis For Oil And Gas Automation Market:
–North America (United States, Canada and Mexico)
-Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam)
-Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
-Central & South America (Brazil, Rest of South America)
–Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa, Other)
The report has 150 tables and figures browse the report description and TOC:
Some major points from Table of Content:
- Oil And Gas Automation market Overview
- Oil And Gas Automation market Economic Impact
- Competition by Manufacturer
- Production, Revenue (Value) by Region (2019-2024)
- Supply (Production), Consumption, Export, Import by Regions (2019-2024)
- Production, Revenue (Value), Price Trend by Type
- Oil And Gas Automation market Analysis by Application
- Market by Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders.
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