Press release
Sensors in Oil and Gas Market 2022: Global Analysis of Key Manufacturers, Dynamics & Forecast 2026
The Sensors in Oil and Gas Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Sensors in Oil and Gas market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Sensors in Oil and Gas market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Sensors in Oil and Gas market.The Sensors in the Oil and Gas market is estimated to grow at a CAGR of about 6.54% over the forecast period 2021 - 2026.
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Top Leading Companies of Sensors in Oil and Gas Market are - Honeywell International Inc., TE Connectivity Ltd, Robert Bosch GmbH, ABB Ltd, Siemens AG, Rockwell Automation Inc., Analog Devices Inc., Emerson Electric Company, GE Sensing & Inspection Technologies GmbH, SKF AB and others.
Industry News and Updates:
- March 2020 - TE Connectivity Ltd. announced to acquire majority of shares (71.87%) in First Sensor. With this acquisition, the company has planned to expand its product offerings, including innovative, market-leading sensors, connectors and systems.
- September 2019 - Measurement Specialties Inc., a subsidiary of TE Connectivity Ltd. completed the acquisition of Silicon Microstructures Inc. from Elmos Semiconductor AG. SMI’s micro-electro-mechanical systems (MEMS) sensor technology design and manufacturing capabilities, with TE’s operational scale, customer base and existing sensors technologies leads to a more comprehensive global sensing solutions offering for customers. SMI expands TE’s global leadership in pressure sensing technology, particularly in medical, transportation, and industrial applications.
Key Market Trends:
Upstream Industries Offers Potential Growth
- The upstream industry finds and produces crude oil and natural gas. The upstream is sometimes also known as the exploration and production (E&P) sector. Crude oil is widely used in transportation, industrial activities, and electric power. Natural gas and crude oil are located deep underground, concealed in rock layers. Many reservoirs are below the sea or in regions that are difficult to access and have an extreme climate. Thus, sensors along with other useful seismic images help the manufactures to get accurate information about where to drill. This helps them in reducing the extra cost associated with drilling costs.
- Further, cheap sensors, widening connectivity coupled with increasing computing power are driving the demand for sensors during the procurement process for Oil and Gas. Sensors, incorporated in equipment gives real-time insights, which help the companies in planning the maintenance and optimizes the operational activity.
Europe Holds a Significant Market Share
- When compared on leading producers in US and the Middle East, Europe has a lower number of oil and gas rigs. Adding to this scenario, the oil production in the European Union has decreased considerably in the past few years. It is estimated that since 2016, the region’s oil production has been declining by 1.2% annually.
- However, a series of successful licensing rounds and promising finds have sent a wave of optimism across the industry according to IOGP’s (International Association of Oil & Gas Producers) most recent data.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Sensors in Oil and Gas Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Sensors in Oil and Gas Market (%),2016 - 2026
- Sensors in Oil and Gas Market Share, By Brand
- Sensors in Oil and Gas Market Share, By Company
- Sensors in Oil and Gas Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Sensors in Oil and Gas Market Value Analysis & Forecast
- Promising Sensors in Oil and Gas Development by Major Companies
- Detailed Sensors in Oil and Gas Portfolio of the Major Companies
- Major Deals in the Sensors in Oil and Gas Market
- Major Companies Analysis
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- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
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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.
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