Press release
Process Automation and Instrumentation Market Projected to Reach $105.94 Billion at 6.5% CAGR Till 2026 | Global Key Players (ABB, Agilent, Beckhoff Automation GmbH, Bosch, Danaher, Emerson Electric, GE, Honeywell)
Process Automation and Instrumentation Market
Overview of the Global Process Automation and Instrumentation Market:
The Global Process Automation and Instrumentation Market is expected to grow from $60.12 Billion in 2017 to reach $105.94 Billion by 2026 with a CAGR of 6.5%. Increased adoption of process automation and instrumentation products across industries, rising oil and refineries industry, shifting production approach from conventional practices to digitalized methods, adoption of multivendor portable applications, growing regulatory compliances in process industries, increased usage and application of MES, PLC, SCADA, and DCS, in process industries, rising adoption of IoT across industries and increasing labor wages in major manufacturing hubs are some of the major factors boosting the market growth. On the other hand, high instrument failure rates, high implementation and maintenance costs are the restraints limiting the market growth.
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By Instrument, control valves segment is expected to witness higher CAGR during the forecast period due to its significance in control loop. Distributed control system (DCS) segment was the dominant solution in process automation and instrumentation market as these systems are widely used in process industries as an extension of conventional controllers. Distributed control system (DCS) solutions are widely used in oil & gas, energy & power, packaging, automotive, pharmaceutical, chemical, food and beverages, and pulp and paper industries.
Regionally, North America accounted for the largest share in Global Process Automation and Instrumentation Market followed by Europe. The dominance of this region is due to increased industrial automation adoption rates in various end-user industries such as oil & gas, chemicals, petrochemicals and pharmaceuticals. Asia Pacific is expected to witness high growth during the forecast period due to rapid industrialization. Emerging economies such as India and China, on the other hand, are expected to witness rapid penetration in process automation & instrumentation market, owing to the favorable government policies and increasing investments in energy & power sector.
Major Key Players:
1 ABB Ltd.
2 Agilent Technologies, Inc.
3 Beckhoff Automation GmbH
4 Bosch Group
5 Danaher Corp
6 Emerson Electric Co.
7 General Electric Co.
8 Hollysys Automation Technologies Ltd.
9 Honeywell International Inc. and More…………..
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Market Segment by Types of Processes:
1 Process Automation
2 Process Instrumentation
Market Segment by Instruments:
1 Analyzer
2 Transmitters
3 Control Valve
Market Segment by Solutions:
1 Advanced Process Control (APC)
2 Distributed Control System (DCS)
3 Human Machine Interface (HMI)
4 Manufacturing Execution System (MES)
5 Programmable Logic Controller (PLC)
6 Supervisory Control and Data Acquisition (SCADA)
7 Safety Automation
Market Segment by Communication Protocols:
1 Wireless Communication Protocol
2 Wired Communication Protocol
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What Information does this report contain?
1 A detailed analysis of regulatory trends, drivers, industry pitfalls, challenges and growth opportunities for participants
2 Which are the leading market products, applications & regions and how will they perform by 2026?
3 What are the technologies & innovation trends, how will they evolve by 2026?
4 Which companies lead the industry, how are they positioned in the market in terms of sustainability, competency, production capacity and strategic outlook?
In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Process Automation and Instrumentation Market.
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We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
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