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Oil and Gas Measuring Instrumentation Market Competitive Dynamics & Global Outlook 2020
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The oil and gas measuring instrumentation can be broadly classified into two categories: equipments and geography. The global oil and gas measuring instrumentation market can be segmented on the basis of equipment by identifying different measurement solutions offered in the market. On the basis of measuring instruments used, the global oil and gas measuring instrumentation market can be segmented as pressure management solutions, level measurement solutions, needle valve and manifold valve solutions, temperature measurement solutions, and force measurement solutions.
Market on the basis of above categories can be further sub-segmented to provide a detailed segmentation of the global oil and gas measuring instrumentation market. Several instruments used for pressure management solutions include pressure gauges, transmitters, and transducers. Level management solutions include low pressure gauges and submersible transducers. Various types of needle valve and manifold valve include needle valves, manifold valves, and block and bleed valves. Temperature measurement solutions include temperature transmitters and transducers, and vapor actuated thermometers. On the basis of force measurement solutions, the market can be segmented as instruments such as load cells and force sensors.
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The market for oil and gas measuring instrumentation is anticipated to grow at moderate rates in the future. The following underlying factors are likely to support growth in the oil and gas measuring instrumentation market. The continuously increasing demand for oil and gas is likely to be one of the key drivers of growth in the market. Increasing demand for petroleum products along with increasing investment is also expected to propel demand for the oil and gas measuring instrumentation market. Various regulations on the environment are also anticipated to play a key role in growth of the oil and gas measuring instrumentation market. Exploration and extraction of shale gas and upgradation of aged oil platforms are expected to boost the use of the oil and gas measuring instruments. Ample opportunities of growth exist in the market owing to the rapid industrialization taking place in developing countries.
Regionally, market segmentation can be done by identifying the countries with greater prospects of growth in the future. It is expected that emerging countries will drive growth in the near future. Some of the key players in the oil and gas measuring instrumentation market include ABB; ABLE Instruments & Controls Ltd; AMETEK, Inc.; Fluid Components International LLC.; General Electric Company; Endress+Hauser Consult AG; NOSHOK, Inc.; SGS Canada, Inc.; Oxford Instruments.
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