Refining Industry Automation and Software Market: Influential Factors Determining the Trajectory of the Market
There are various types of automated refineries like petroleum oil refinery, sugar refinery, natural gas processing plant, salt refinery, metal refinery etc. The types of products for refining industry automation are, Control Valves, Flow meters, HMI software, Low Power AC Drives, High Power AC Drives, High Power AC Drives, Process Engineering tools, Radar Level Devices and Continuous Ultrasonic Level Measurement Devices.
The growth of oil and energy sectors inhibits the growth of refining industry automation market. The oil companies are the major investors in this industry with a high demand of energy and refined petroleum products from the emerging countries. As a result of which it is expected to have a huge expenditure in large and complex capital projects in the refining industry.
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Due to economic slowdown in emerging countries like India and China and also due to European debt crisis the market is likely to get hampered. Though there was healthy shipment of products in the previous year yet economic downturn in emerging countries is slowing down the investment.
It is expected that the market will mainly be dominated by the emerging nations such as India and China but it is expected to be slightly slow in Europe (France, Germany, Italy, and UK) and North America. Key participants in the industry include Yokogawa, Emerson process Management, Aspen Technology, Invensys Operations Management, Aspen Technology, Honeywell Process Solutions, ABB and Siemens.
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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