Oil and Gas Automation Market Size 2022 Global Opportunities, Trends, Share, Regional Overview, Global Growth, And Country Forecast to 2026

The "Oil and Gas Automation Market" provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the Market’s growth. The rise in the aviation sector is escalating the growth of the Oil and Gas Automation Market. Increased adoption of superior technology consisting of synthetic intelligence and system learning, a developing quantity of records and growing utility of records answers through an extensive variety of ends person verticals consisting of banking, economic services, and insurance, authorities and public sector, telecommunications and IT, energy, healthcare and others are the foremost elements as a consequence of the increase of the market.

The Global Oil and Gas Automation Market Size is Projected to Reach at a CAGR of 6.47% during 2022-2026.

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Market Overview:

- From the past, it is observed that even though the oil prices are fluctuating, the demand for oil and gas remained stable. Price of oil per barrel has gone to a peak level of more than USD 140, and also, a trough low to USD 20, but the average energy consumption is steadily increasing, globally. As of 2017, it was estimated that the world consumed over 98 million barrels of oil every day, indicating a growth of almost 2% when compared to 2016. Such a rate of consumption was primarily spiked by the reduced crude oil prices and increasing demand from automobiles.
- In addition to that, since the low prices of crude hit the market in early 2014, the major consumption groups in the Asian and European countries have predominantly benefited from these changes. In fact, according to the British Petroleum’s estimates, the regions witnessed a towering increase in the refinery capacities and throughputs.

Key players in the global Oil and Gas Automation Market covered:

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

Recent Development:

In August 2018, Rockwell Automaton added five new members to its Machine Safety System Integrator program. Created in 2014, the program helps industrial companies identify system integrators with current safety standards expertise and a proven track record in designing safety systems.

Market Segmentation by Type:

Automated Drilling
Automate Underwater Vehicle
Other

Market Segmentation by Application:

Oil Industry
Natural Gas Industry
Other

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Key Market Trends

Enterprise Resource and Planning (ERP) is Expected to Register a Significant Growth

ERP systems offer an integrated real-time view of core operations, such as product planning, development, manufacturing, sales, and marketing. At workstations, these ERP systems enable the scheduling and management of the workflow, while implementing a well-organized product cycle, which is done by monitoring the progress of various processes, as well as providing analytical data that aids decision-making. The features reduce excessive inventory costs. Oil and gas industries are among the early adopters for the ERP system, as the operations are highly dependent upon workflow management and market analysis. ERP providers are designing solutions specific to the upstream, midstream, and downstream activities.

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United States is Expected to Hold Major Share

The dependence of the oil and gas industry on automation has increased over the past decade, and multiple rounds of industry layoffs were announced that left oil and gas companies with a reduced number of skilled workers. This led to the increasing dependence of US oil companies on automation, in order to complete processes without any delay. In 2017, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continued to rise, which aligned perfectly with the new administration’s motto of “energy dominance” for the United States.

Table of Contents: Oil and Gas Automation Market

- Chapter 1: outline of Oil and Gas Automation marketplace

- Chapter 2: worldwide market reputation and forecast through areas

- Chapter 3: worldwide marketplace popularity and forecast by using types

- Chapter 4: worldwide marketplace repute and forecast by using Downstream enterprise

- Chapter 5: marketplace riding issue evaluation

- Chapter 6: market opposition reputation by major producers

- Chapter 7: essential producers Presentation and market data

- Chapter 8: Upstream and Downstream marketplace investigation

- Chapter 9: Fetched and net part investigation

- Chapter 10: marketplace file end

- Chapter 11: research technique and Reference

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This release was published on openPR.