Global Automation Instrumentation Market
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One of the major factors driving the growth of automation instrumentation market is the increasing demand of automation instrument from process industries. However, lack of effective product differentiation may pose a challenge to the growth of automation instrumentation market. For example, various automation instrument retailers face augmented competition from regional and local vendors owing to lack of effective product differentiation. To overcome this problem, many retailers have started presenting customized automation solutions which not only meet the client needs but is offered to them at a competitive price. As a result, several companies across process industries which include Chemical, Oil and Gas and Petrochemical are opting for automation instruments so that they could enhance their operational efficiency.
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By geography, countries such as Brazil, Russia, India and China are witnessing rapid growth in the automation instrumentation market due to the upstream industries of Refining Chemicals along with Electric Utilities, Oil & Gas, Metals and Mining. Some of the key players in the market include Emerson Electric Co., BB Ltd., Yokogawa Electric Corp. and Honeywell International Inc. among others.
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