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Exclusive Market Study Estimates that Global Process Automation and Instrumentation Market will Grow at 6.0% CAGR During 2017-2027
Global Process Automation and Instrumentation Market: Forecast
The global process automation and instrumentation market is anticipated to grow at a significant growth rate throughout the period of forecast of 2017-2027. The global process automation market and the global process instrumentation market collectively are estimated to reach a value of about US$ 174 Bn by the end of 2027.
The global process automation market is expected to witness robust growth during the assessment period and is poised to register a CAGR of 6.0% throughout the 2017-2027 period. By the end of 2027, the global market for process automation is estimated to be valued at about US$ 153.6 Bn from a value of US$ 85.5 Bn in 2017. The global process instrumentation market is projected to grow at a CAGR of 5.8% during the 2017-2027 assessment period. By the end of 2027, the process instrumentation market is estimated to reach a market evaluation of about US$ 20.5 Bn.
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Global Process Automation and Instrumentation Market: Influencing Factors
The global process automation and instrumentation market is being driven by several aspects in the market. Some of them are rising presence of process industries that which need process automation and instrumentation, rising focus on automation with a view to increase speed, quality and overall productivity and reduce errors, rising oil and refineries industry, significant demand for automation in the chemical industry, competitive environment prevalent in various regions, rising awareness towards digitalization and technological innovation, rising ethernet and internet technologies in control systems on mining and oil and gas plants, the increasing urge to maintain safety standards, rising demand for process automation in the utilities sector and rising awareness of digitizing oil and gas platforms.
Global Process Automation Market: Segmental Insights
The global process automation market is segmented by solutions (PLC, DCS, SCADA, HMI, APC, MES, and Safety Automation), application (chemical, metal & mining, food & beverage, oil & gas, pharmaceutical, power, pulp and paper, wastewater treatment and others) and region.
By application type, the wastewater treatment and pharmaceutical segments are anticipated to grow at same and higher rates throughout the assessment period, however pharmaceutical segment is estimated to show a high market valuation by 2027 end. The chemical segment is likely to dominate the global process automation market by application to reflect a value of around US$ 21.3 Bn by 2027 end
PLC segment by solution type is expected to dominate the market with a high lead in valuation and is estimated to reach US$ 41.7Bn by the end of 2027. APC segment shows highest growth rate throughout the period of forecast. The SCADA segment shows high potential during the 2017-2027 period
North America region is poised to lead the global market with respect to market value, followed by Asia Pacific excluding Japan and Western Europe. Middle East and Africa region poised to grow at a high 6.8% CAGR throughout the period of assessment
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Global Process Instrumentation Market: Segmental Insights
The global process instrumentation market is segmented by instrument type (transmitter, flow meters, analysers, controllers, recorders, switches and vacuum instruments), application (chemical, metal & mining, food & beverage, oil & gas, pharmaceutical, power, pulp and paper, wastewater treatment and others) and region.
By region, North America dominates the global market growing at a moderate CAGR during 2017-2027 period. MEA region in this market also shows highest growth rate to reflect a CAGR of 6.4% throughout the assessment period
Oil and gas and others segment by application, poised to show significant market estimations with a moderate growth rate throughout the period of assessment. Pulp and paper and wastewater treatment segments poised to grow at a same growth rate to register a 6.9% CAGR during the forecast period
By instrument type, the transmitter segment is the largest segment and is anticipated to reflect a high value estimate of about US$ 5.8 Bn in 2027, followed by vacuum instruments segment. The vacuum instruments segment is anticipated to grow at the highest rate to register a CAGR of 6.1% throughout the period of forecast, 2017-2027
Global Process Automation and Instrumentation Market: Competitive Scenario
The global process automation and instrumentation market research report has profiled several key players involved in the market. Few of them are ABB Limited, Endress+Hauser Management AG, Emerson Electric Company, Mitsubishi Electric Company, Rockwell Automation Inc., Siemens AG, Pepperl+Fuchs GmbH, HollySys Automation Technologies Ltd., Schneider Electric SE, Honeywell International Inc., Yokogawa Electric Corporation, R. STAHL AG, Bosch Group, Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Oxford Instruments Plc., Forbes Marshall Pvt. Ltd., Parker Hannifin Corp. and Danaher Corp.
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