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Process Automation And Instrumentation Market Trends, Top Companies, Share, Growth And Forecast 2032
Process Automation And Instrumentation Market
Process Automation And Instrumentation Market Size, Growth Rate, And Forecast
The global process automation and instrumentation market size grew from $67.19 billion in 2022 to $71.54 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The process automation and instrumentation market size is expected to grow to $97.63 billion in 2027 at a CAGR of 8.1%.
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Process Automation And Instrumentation Market Drivers
The increasing focus of manufacturing firms on achieving cost-saving and better efficiency is significantly contributing to the growth of the process automation and instrumentation market. The increase in productivity and minimization the errors are helping the process automation and instrumentation market to grow.
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Process Automation And Instrumentation Market Segments
• By Instrument: Field Instrument, Control Valve And Analyser, Analytical Instrument
• By Solution: Programmable Logic Controller (PLC), Distributed Control System (DCS), Supervisory Control And Data Acquisition (SCADA), Human Machine Interaction (HMI), Functional Safety, Manufacturing Execution System (MES)
• By Industry: Oil And Gas, Chemicals, Pulp And Paper, Pharmaceuticals, Metals And Mining, Food And Beverages, Energy And Power, Water And Wastewater Treatment
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.North America was the largest region in the process automation and instrumentation market.
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Process Automation And Instrumentation Market Key Players
Major competitors in the process automation and instrumentation market include ABB Limited, Danaher Corporation, Emerson Electric Company, Endress+Hauser Group Services AG, General Electric, Hollysys Automation Technologies Ltd., Honeywell International Inc., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc.
The Business Research Company's "Global Process Automation And Instrumentation Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Process Automation And Instrumentation Market Include:
1. Executive Summary
2. Process Automation And Instrumentation Market Characteristics
3. Process Automation And Instrumentation Market Trends And Strategies
4. Process Automation And Instrumentation Market - Macro Economic Scenario
5. Process Automation And Instrumentation Market Size And Growth
……
26. Africa Process Automation And Instrumentation Market
27. Process Automation And Instrumentation Market Competitive LAndscape And Company Profiles
28. Key Mergers And Acquisitions In The Process Automation And Instrumentation Market
29. Process Automation And Instrumentation Market Future Outlook And Potential Analysis
30. Appendix
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