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Process Automation and Instrumentation Market Trends Shows a Rapid Growth by 2026 | Emerson Electric, General Electric, Hollysys Automation Technologies, Honeywell

11-19-2019 10:53 AM CET | Logistics & Transport

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Process Automation and Instrumentation Market - Premium Market Insights

Process Automation and Instrumentation Market - Premium Market Insights

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.

Leading Process Automation and Instrumentation Market Players:

ABB Ltd., Agilent Technologies, Inc., Beckhoff Automation GmbH & Co., Kg, Bosch Group, Danaher Corp, Emerson Electric Co., General Electric Co., Hollysys Automation Technologies Ltd., Honeywell International Inc., Intech Process Automation Inc., Key Innovators, Metso Corporation, Mitsubishi Electric Corporation, Omron, Rockwell Automation, Inc., Schneider Electric Se, Siemens AG, Texas Instruments, Thermo Fisher Scientific Inc. and Yokogawa Electric Corporation.

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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.

In 2017, the oil and gas industry dominated the Process Automation and Instrumentation market as there is always huge demand for safety and reliability from exploration through delivery. Whereas, the market share of the energy & power segment is estimated to improve significantly over forecast period due to growing need for cleaner and smarter energy and high demand for non-renewable sources of energy production.

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.

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Table of Contents
1 Executive Summary
2 Preface
3 Market Trend Analysis
4 Porters Five Force Analysis
5 Global Process Automation and Instrumentation Market, by Type
6 Global Process Automation and Instrumentation Market, by Instrument
7 Global Process Automation and Instrumentation Market, by Solution
8 Global Process Automation and Instrumentation Market, by Communication Protocol
9 Global Process Automation and Instrumentation Market, by Application
10 Global Process Automation and Instrumentation Market, by Geography
11 Key Developments
12 Company Profiling

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