Industrial Automation Oil & Gas Market to Reach $15.20 Bn by 2030 at 4.7% CAGR

Industrial Automation in Oil & Gas Market Poised for Significant Growth Amidst Regional Developments

The global industrial automation oil & gas market is on a trajectory of notable expansion, driven by technological advancements and increasing demand for efficient operations in the energy sector. Valued at approximately USD 11.02 billion in 2023, the market is projected to reach nearly USD 15.20 billion by 2030, reflecting a compound annual growth rate (CAGR) of 4.7% during the forecast period.

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• Competitive Landscape and Regional Demand

The market is characterized by the presence of key players such as ABB Ltd., Emerson Electric Co., Siemens AG, and Honeywell International Inc., who are continually innovating to enhance automation solutions. Notably, the Asia-Pacific region is experiencing heightened demand for industrial automation in the oil and gas sector, driven by rapid industrialization and the need for operational efficiency.

• United States: Growth Opportunities and Trends

In the United States, the push towards digital transformation in the oil and gas industry has led to increased adoption of automation technologies. Companies are investing in advanced process control systems and IoT-enabled devices to optimize production and ensure safety compliance.

• Asia Pacific: Expansion and Consolidation

The Asia Pacific region is witnessing significant growth in industrial automation within the oil and gas sector. Countries like China and India are at the forefront, adopting automation solutions to enhance exploration and production activities. This surge is accompanied by strategic mergers and acquisitions aimed at consolidating market positions and expanding technological capabilities.

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• Middle East and Africa: Trends and Updation

In the Middle East and Africa, national oil companies are forming joint ventures with international technology providers to tap into unconventional energy resources. For instance, ADNOC Drilling has partnered with SLB and Patterson-UTI to establish Turnwell Industries, focusing on advanced extraction methods.

• Europe: Consolidation and Key Developments

Europe's industrial automation market in the oil and gas sector is experiencing consolidation, with companies seeking to strengthen their market presence through strategic acquisitions. The region's focus on sustainable energy solutions is also driving the adoption of automation technologies to enhance operational efficiency and reduce environmental impact.

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◘ Market Segmentation: In-Depth Analysis:

◘ by Solutions

SCADA
PLC
DCS
MES
Functional safety
PAM

Throughout the projection period, the oil and gas sector is expected to hold a significant portion of the PAM process industry market. Competition has increased as a result of the process's growing use of Plant Asset Management (PAM). In the oil and gas sector, PAM systems are used to manage both short-term and long-term scheduling of activities. For example, PAM software shortens the operational process's cycle time, which includes hydrocarbon product production, treatment, transportation, maintenance, and realization. This sector involves multiple concurrent processes, including planning, carrying out, and overseeing.

◘ by Component

Industrial Robot
Control Valve
Field Instruments
HMI
Industrial Pc
Intelligent Pigging
Vibration Monitoring
Processes Analyzer

By part, A practical example of a power-operated device is a control valve. It is employed to manage or regulate the flow of water, steam, gas, and oil, among other fluids. In order to create a product that will be sold, processing plants typically have hundreds of control loops connected to one another. Each control loop is planned and structured to keep critical processes-like flow, pressure, temperature, level, etc.-within a specific operating range that is necessary to guarantee the final product's quality.

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◘ Learn about the top players driving innovation in the Market :

North America
1. Emerson Electric
2. General Electric
3. Rockwell Automation
4. Honeywell International
5. Teradyne
6. PakEnergy
7. Eaton Company
8. Baker Hughes
9. ChampionX
10. McDermott International

Europe
11. ABB (Electronic Equipment and Instruments)
12. Endress+Hauser (Schweiz)
13. Schneider Electric
14. Siemens AG
15. VEGA GRIESHABER
16. WIKA Alexander Wiegand
17. ExRobotics
18. Cognite
19. Aveva Group
20. TechnipFMC

APAC
21. Mitsubishi Electric Corp.
22. Yokogawa Electric
23. Omron
24. Azbil
25. Fanuc
26. Zyfra

ME
27. Aramco

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