Press release
Process Instrumentation Equipment Market to register a healthy CAGR for the forecast period, 2016-2026
Global Process Instrumentation Equipment Market: Segmentation
The global process instrumentation equipment market can be segmented into four categories namely types, technology, application and geography. On the basis of types, the global process instrumentation equipment market can be segmented into transmitters and control valves. On the basis of technology, the global process instrumentation equipment market can be segmented on the basis of SCADA, DCS, PLS and MES. On account of application, the global process instrumentation equipment market is segmented into household, automotive, aircraft or laboratory instrumentation. On the basis of geography, the global process instrumentation equipment market can be segmented into North America, Western Europe, Latin America, Eastern Europe, Asia Pacific, Middle East and Africa and Japan.
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Global Process Instrumentation Equipment Market: Drivers
The global process instrumentation equipment market is driven by technological innovations and increasing demands for process control systems. Moreover, cost efficiency, reduction in engineering time, asset utilization and energy efficiency are some of the major factors driving the growth of the global process instrumentation equipment market.
Global Process Instrumentation Equipment Market: Restraints
Some of the major challenges faced by the global process instrumentation equipment market are high initial costs, government regulations and durability factor. Furthermore, less adoption of automation and instrumentation in emerging and undeveloped economies is a major challenge to the global process instrumentation equipment market.
Global Process Instrumentation Equipment Market: Region Wise Outlook
Considering the global process instrumentation equipment market region wise, North America is the leader in adopting process instrumentation equipment followed by Western Europe and Japan. Emerging economies like Asia Pacific and Middle East and Africa are also bending more towards the adoption of process instrumentation equipment market to increase work efficiency and achieve efficient output.
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Global Process Instrumentation Equipment Market: Key Players
The leading companies in the global process instrumentation equipment market are Danaher Corporation (U.S.), Honeywell International Inc. (U.S), Omron Corporation (Japan), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), ABB Ltd. (Switzerland), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S), Schneider Electric SA (France), Emerson Electric Company (U.S) and others.
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