Oil and Gas Automation Market 2021 Advancements and Outlook - ABB Ltd., Honeywell International Inc., Rockwell Automation Inc., Mitsubishi Corporation, Schneider Electric SE

MarketInsightsReports has published a report entitled Global Oil & Gas Automation Market Research Report 2021 that is a detailed observation of several aspects, including the rate of growth, technological advances and various strategies implemented by the main current market players. The report is based on a collective analysis of data, which is obtained through primary and secondary research. It provides a systematic approach to the current and prospective scenario of this market.

The Oil & Gas Automation Market was valued at USD 17.05 billion in 2020 and expected to reach USD 24.9 billion by 2026 and grow at a CAGR of 6.47% over the forecast period (2021 - 2026).

Click the link to get a Sample Copy of the Report:

https://www.marketinsightsreports.com/reports/02082591675/oil-gas-automation-market-growth-trends-covid-19-impact-and-forecasts-2021-2026/inquiry?Mode=68

Key Players:

ABB Ltd., Honeywell International Inc., Rockwell Automation Inc., Mitsubishi Corporation, Schneider Electric SE, Emerson Electric Co., Eaton Corporation, Dassault Systèmes SE, Yokogawa Electric Corporation, Siemens Corporation, Robert Bosch GmbH, Texas Instruments Inc., Johnson Controls Inc and others.

Key Market Trends

Distributed Control Systems to Have Significant Share

- Distributed Control Systems (DCS) is integrated as a control architecture comprising a supervisory level of control overseeing multiple, integrated sub-systems that are responsible for managing the details of a localized process. The significant usage of DCS is to control industrial processes such as oil and gas refineries, oil production, etc.
- Some of the major drivers of DCS include increased use of renewable and nuclear energy for power generation and adoption of the industrial internet of things (IIoT) for real-time decision making.
- DCS is also flexible enough to integrate various hardware solutions to provide a comprehensive solution. DCS also has the capability to incorporate traditional SIMATIC ET 200 distributed I/O stations as well as use modern smart devices with the Internet Of Things (IoT) technology.

North America Holds a Significant Market Share

- The United States is the largest market for oil and gas in North America. In 2019, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continue to rise, which aligned perfectly with the new administrations motto of energy dominance for the United States.
- In September 2019, the country exported 140,000 bpd more crude oil and petroleum products than imported. According to the Energy Information Agency, the total crude oil and petroleum net exports are expected to rise up to an average of 750,000 bpd in 2020 as compared with the net imports of 520,000 bpd in 2019.
- Baker Hughes uses the InForce surface control system, which combines the hydraulic power to activate downhole tools and the control logic to govern an intelligent well system. PLC controls system functions for more complex completion configurations. It is primarily used where remote operations must be done through existing SCADA.
- Chevron Corporation is also one of the significant American multinational energy organization that cuts across the energy spectrum with its varied applications, such as coal mining, oil and gas exploration, and refining. Chevron, in collaboration with Microsoft, undertook a project in which it used wireless sensors with heat exchangers to collect and send real-time data from the heat exchanger to the cloud. Chevron is also leveraging its partnership with Emerson for this heat exchange pilot program.

Browse Full Report at:

https://www.marketinsightsreports.com/reports/02082591675/oil-gas-automation-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=68

Important Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Oil & Gas Automation Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Oil & Gas Automation Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth.

Finally, the Oil & Gas Automation Market report is the believable source for gaining Market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request, and Market development rate and figure, and so on. This report additionally Present a new task SWOT examination, speculation attainability investigation, and venture return investigation.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

CONTACT US:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com

ABOUT US:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

This release was published on openPR.