Press release
Oil & Gas Sensors Market is Projected to Reach $9.4 Billion by 2023 | Leading key players are Emerson, ABB, GE, Indutrade, BD Sensors, Lord, MTS Sensors, Bosch
Browse 69 market data Tables and 42 Figures spread through 113 Pages and in-depth TOC on "Oil & Gas Sensors Market -Global Forecast to 2023"
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The major factors driving the oil & gas sensors market include growing IoT in the oil & gas industry. IoT in the oil and gas industry helps in improving operational efficiency, revenue, real-time data, and decreasing safety risk, and environmental footprint.
The pressure sensors segment is expected to grow at the highest CAGR in the global oil & gas sensors market during the forecast period
The oil & gas sensors market has been segmented on the basis of sensors type into pressure sensors, flow sensors, level sensors, temperature sensors, and others. Among these types, pressure sensors is the fastest growing segment in the oil & gas sensors market as they provide accurate and reliable data to detect small changes in the pressure usually in the upstream and midstream processes.
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Wireless sensors are expected to grow at the highest CAGR in the global oil & gas sensors market during the forecast period
Wireless sensors in the oil & gas industry are installed in all upstream, midstream, and downstream processes. Wireless sensors have a growing demand as they eliminate cables, resulting in reduced installation and operating costs. Moreover, wireless sensors have a wide variety of applications in the oil & gas industry varying with different requirements and characteristics.
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This research report categorizes the oil & gas sensors market based on sensor type, sector, application, connectivity, and region.
On the basis of Type, the oil & gas sensors market has been segmented as follows:
Pressure Sensor
Temperature Sensor
Flow Sensor
Level
Others (power supply sensors and fiber optical sensors)
On the basis of Connectivity, the oil & gas sensors market has been segmented as follows:
Wired
Wireless
On the basis of Application, the oil & gas sensors market has been segmented as follows:
Remote Monitoring
Condition Monitoring & Maintenance
Analysis & Simulation
On the basis of Sector, the oil & gas sensors market has been segmented as follows:
Upstream
Midstream
Downstream
On the basis of Region, the oil & gas sensors market has been segmented as follows:
Asia Pacific
North America
Europe
Middle East & Africa
South America
North America is expected to hold the largest market size in the oil & gas sensors market in the forecast period
North America is estimated to account for the largest share of the market in 2018. The region is considered the most advanced region in terms of technology adoption and infrastructure. The sensor market in the oil & gas industry would be mainly driven by the growth in unconventional resources in the US and Canada. The demand from the onshore & offshore fields in the Gulf of Mexico is also likely to positively impact the sensor market during the forecast period. All these factors are expected to drive the oil & gas sensor market in North America.
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Major vendors in the oil & gas sensors market include Emerson (US), ABB (Switzerland), GE (US), Indutrade (Sweden), BD Sensors (Germany), Lord (US), MTS Sensors (US), Bosch (Germany), Rockwell (US), TE Connectivity (Switzerland), Fortive (US), and Siemens (Germany).
Key Questions addressed by the report
The report identifies and addresses key markets for oil & gas sensors, which would help manufacturers review the growth in demand.
The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
The report will help key players understand the strategies of their competitors better and make better strategic decisions.
The report addresses the market share analysis of key players in oil & gas sensors market, and with the help of this companies can enhance their revenues in the respective market.
The report provides insights about emerging geographies for oil & gas sensors, and the entire market ecosystem can gain competitive advantage from such insights.
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