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Terminal Automation Market Report Predicts Impressive Growth by 2022 - Scalar Market Research
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Oil and gas terminals, often termed as oil and gas depots, tank farms or tank terminals, facilitate storage of oil, gas and related products. These are thus, intermediate hubs which store and facilitate the distribution of oil and gas to end users. Oil & gas terminal automation systems are integrated solutions which facilitate easier monitoring and control of various product handling operations, from receipt of products through storage and distribution. These systems comprise a set of integrated tools that enable access to real-time data, thus ensuring safety and efficient management of day-to-day terminal operations.
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KEY PREMIUM INDUSTRY INSIGHTS
1. Terminal automation systems market is primarily being driven by the higher level of safety and security provided by these systems. The oil & gas industry, coupled with the chemical industry, is slowly recovering from the recent downturn faced for the past few years. This has been boosting the demand for terminal automation systems offering higher safety, effective management and efficient distribution of these products, as the demand for petroleum products continue to grow at a fast pace globally.
2. Additionally, the demand for terminal automation systems is being further boosted by the recent upgrading of Greenfield terminal infrastructure across the globe. Such upgrading has increased the application of various components of terminal automation systems. Furthermore, the growing regulatory stringency, pertaining to environmental concerns and public health hazards, has been further boosting the demand for terminal automation systems.
3. However, factors such as extended timelines for regulatory approvals and relatively slow recovering process of the chemical industry have been restraining the growth of the terminal automation systems market. The recent growth in interest for shale gas and growing exploration of shale gas can offer unique growth opportunities for the terminal automation systems market globally.
On the basis of geography, the global isoprene market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, Japan and North America are expected to dominate the global oil and gas terminal automation market during forecast period. Surplus oil and gas production in North America, especially, in U.S. has, over the recent past, driven the growth in investment towards setting up of oil and gas export facilities in the region. Such a situation is expected to continue during forecast period, thus driving growth of oil and gas terminal automation market in the region during forecast period. Oil and gas terminal automation market in Asia Pacific excl. Japan region is expected to witness relatively faster growth in the coming years.
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KEY MARKET PLAYERS
Key players in the terminal automation market include:
1.Honeywell International Inc.
2.Siemens AG
3.Yokogawa Electric Corporation
4.Rockwell Automation, Inc.
5.Schneider Electric
6.Emerson Electric Co.
7.Endress+Hauser Management AG
8.Technipfmc PLC
9.Implico Group
About Scalar Market Research
Scalar Market Research, Inc. is a Chicago, US-based market research and consulting company serving Fortune 1000 companies, leading businesses and upcoming organizations from around the world in achieving their business goal of sustainable revenue growth, utilizing Scalar's premium market research reports and consulting services. Scalar Market Research is a portfolio company of ALCOR GROUP, a U.S.-based Mergers & Acquisitions giant with immense experience and connection with more than 1500 global funds which include leading Angel, VC, PE, Hedge, LBO, and Buyout Funds.
Scalar’s real-time industry data tracking, with the help of advanced analytics and machine learning, offers our clients highly accurate 360-degree perspective of key developments in niche markets. Our team of industry experts, with a thorough understanding of global markets and cumulative industry experience spanning 100+ years, works relentlessly to help our clients realize their most important business goals..
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