Process Automation and Instrumentation Market Outlook, Research, Trends and Forecast to 2026 - Honeywell International, Mitsubishi Electric, Rockwell Automation

The Global Process Automation and Instrumentation Market report size 2021 present’s insights on the current and future development trends, global & regional scale, revenue growth, and profitability. The report also covers market share, production, challenges, constraints, drivers, and including different key players.

The Global “Process Automation and Instrumentation Market” research report offers an overview of several major countries with key factors that are expected to market developments, dynamics, growth drivers, and business factors. The report present Key market segments valued based on Process Automation and Instrumentation market size, growth rate and share. This report declares the historical and current market trends that are create the scope of the Process Automation and Instrumentation industry. Also, it can provide an analysis of the impact of the Covid-19 pandemic that spread across various geographic regions over the globe. In detailed, the report delivers types of products, applications, end-users and countries, among others.

The process automation and instrumentation market is expected to grow at a CAGR of 6.1% over the forecast period (2021-2026).

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Top Companies in the Global Process Automation and Instrumentation Market: ABB Ltd, Emerson Electric Co., Honeywell International, Inc., Mitsubishi Electric, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, General Electric Company, Eaton Corporation, and Others.

Industry News and Update:

- September 2019 - ABB Limited announced to start the construction of its new robotics manufacturing and research facility in China, with an investment of USD 150 million. The new factory is expected to also help accelerate innovations in Artificial Intelligence (AI). This move is likely to allow to closely collaborate with its customers to co-develop automation solutions that are tailored to their individual needs.
- October 2019 - Emerson Electric Company has introduced its latest AMS Asset Monitor, which converts asset monitoring data into digital form to allow predictive analytics in the process industry.

Key Market Trend:

Oil and Gas Industry to Hold Significant Market Share

- In the oil and gas industry, protecting a pressurized pipeline from corrosion and leaks and minimizing downtime are a few of the crucial responsibilities in the industry. According to the NACE (National Association for Corrosion Engineers) that, the oil and gas industry suffers the cost of over USD 1.6 billion per year due to corrosion alone. The presence of oxygen in the gas sample determines that there is a leak in the pressurized pipeline system.
- According to the BP 2019 report on energy consumption, the total oil reserves across the world has increased to 1,730 million barrels in 2018, which grew by 2 million barrels from the previous year. The detection and monitoring of hydrogen sulfide (H2S) and carbon dioxide (CO2) are pertinent in natural gas processing.
- Advanced automation is capable of significantly reducing energy utilization in all areas of the oil and gas industry, including process units, utilities, and offsite units. Energy is the single largest controllable cost for most oil and gas refineries, often comprising more than 50% of non-crude operating expenses. Further, the increase in operational costs has caused most refineries to look even more closely at their energy utilization.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Global Process Automation and Instrumentation Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

Frequently Asked Questions about Process Automation and Instrumentation market:

–   Who are the key players operating in the Process Automation and Instrumentation market?
–   Which is the leading segment in the market?
–   At What CAGR is the market projected to grow in the forecast period (2021-2026)?
–   What is the key factor driving the market?
–   Which data rates would lead the market during the forecast period?
–   Which region is expected to dominate the Process Automation and Instrumentation market in the next five years? 

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