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The Oil and gas automation market is estimated to grow on account of the growing demand for vehicles amongst consumers, as automobiles have become an essential part of the modern lifestyle. Moreover, increasing disposable income, and rising purchasing capacity of the middle-class population, is further estimated to surge the sales of automobiles. The International energy Agency (IEA) recorded a sale of 87 million cars in 2019. Out of these, 24.5 million cars were sold in China, and over 7 million cars were sold collectively in India and Japan, making Asia Pacific the largest market for automobiles. On the other hand, 17.1 million cars were sold in the United States alone, owing to the higher individual disposable income and presence of various automobile manufacturers in the region.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Oil and Gas Automation Market Products.
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Moreover, the advancement in technology, such as, advanced driver assistance systems (ADAS), infotainment systems, and increasing adoption of electric vehicles, is certain to assist the growth of the XYZ market. Along with this, the prompt implementation of these technologies in the upcoming vehicles, supported by various government initiatives and favorable policies, can guarantee the market development. The sale of plug-in hybrid electric vehicles (PHEV) reached 0.969 million, while the battery electric vehicles (BEV) sales touched 2.008 million in the year 2020, as per the data by the IEA. The total global stock of BEV amounted to 6.850 million units in the same year.
Oil and Gas industry, a significant source of power generation is experiencing a new era in which automation is playing a major role. Automation is the use of information technology and control system to reduce the need for human involvement, thereby, leading to better performance even with lack of human resource. With the significant
experienced personnel in the industry nearing the age of retirement, the need for automation is further elevated. In the present, automation forms the basis for the day-to-day operations of the industry ranging from exploration to distribution. Furthermore, better control and increased safety measures have also made automation a considerable option for many huge companies.
Market Dynamics
The primary driver for the Oil and Gas Automation Market is the increase in safety because of usage of automation in the form of remotely mounted transmitters, heavy-duty dust light enclosures and non-contacting centers to ensure that hazardous situations and accidents are avoided. Another major factor impacting the growth is the soaring need to enhance the efficiency of the plant at low expenditure. Automation provides higher throughput with reduced downtime which improves efficiency by applying preventive measures which reduce the need for reactive actions. Another significant driver is the need for monitoring of various offshore and onshore plants which will help in utilizing the available experienced human resource efficiently via distributing field data to enterprise level. Another critical factor, influencing market is the enhanced connectivity provided by the use of automation thereby, helping in real time information flow without interruption through smartphones and computers. This, in turn, helps in taking preventive measures, resulting in a reduced rate of failures.
The market growth is also impacted by the use of automation to get better yield via exploration and extraction from ageing reservoirs, thus, getting maximum output from it. Furthermore, the complication associated with extraction of shale' gas and need for upgradation of old oil and gas platform also drive the growth of the market.
Market Segmentation
Oil and gas automation market can be segmented on technology, operational activity, type and application. Regarding technology, the market is divided into automation, instrumentation, analyzer, flow computers and leakage detection system. Process automation is achieved via technologies like SCADA, DCS, MES and PLC. Process instrumentation includes pressure transmitters, level transmitters, temperature transmitters and flow transmitters. Furthermore, the process analyses part includes liquid analyzer, gas analyzer and gas chromatograph. Regarding operation, segmentation is done into upstream activities, midstream activities and downstream activities. By type, the market can be divided under asset optimization, cost reduction, Health, Safety and Environment (HSE) and skills gap. By application, we can segment the market into gas processing, LNG, offshore assets, onshore assets, pipeline and transportation, and refining and petrochemical.
Geographical analysis
Out of the Middle East and Africa, North America, Asia Pacific, Europe and Rest of the world, Middle East is leading the market because of leadership in the oil and gas production. North America is second because of rapid implementation of technologies and high demand. APAC currently has a low market share, but because of early industrialization and increasing demand, the need for automation is expanding.
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Key Players
Key players in Oil and Gas Automation Market are Rockwell Automation, GE Automation, Siemens AG and ENI.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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