Global Oil and Gas Automation and Instrumentation Market - Industry Trends and Forecast to 2029

Global Oil and Gas Automation and Instrumentation Market Analysis and Size

Cost savings, increased output, and greater safety and security are all advantages of automating the processes. The usage of automation and instrumentation in the exploration process has influenced the growth of the oil and gas automation and instrumentation market significantly. Automation and instrumentation have been recognised by industry participants as a critical step toward speedier operations and higher performance in the oil and gas industry.

• Data Bridge Market Research analyses that the oil and gas automation and instrumentation market is expected to grow at a CAGR of 3.8% during the forecast period of 2022 to 2029, and was valued at USD 17.70 billion in 2021 and is further estimated to reach USD 23.85 billion by 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Global Oil and Gas Automation and Instrumentation Market Definition

Process automation and instrumentation are used in the oil and gas industry to automate both simple and complicated tasks in the extraction, transmission, and refining of oil and gas. Process automation and instrumentation are used in the oil and gas industry to automate both simple and complicated tasks in the extraction, transmission, and refining of oil and gas

Oil and Gas Automation and Instrumentation Market Dynamics

Drivers

• Rise in the Global Petroleum Products Demand

Despite shifting oil prices, demand for oil and gas has remained consistent. However, the global energy use is steadily increasing which is further anticipated to propel the growth of the market.

• Application of Automation and Instrumentation in Oil and Gas Industry

Implementation of automation and instrumentation in the oil and gas sector has been recognised as a critical step by industry participants in achieving faster operations and higher performance which will further accelerate the growth of the market.

• Increase in the Significance for Functional Time Reduction

The growing relevance of functional time reduction through automation and instrumentation is further contributing to the market growth.

Opportunities

In addition, the rise in the development of the conventional energy business is further estimated to provide potential opportunities for the growth of the oil and gas automation and instrumentation market in the coming years.

Restraints/Challenges Global Oil and Gas Automation and Instrumentation Market

On the other hand, the decrease in the oil and gas prices have an influence on the infrastructure investments is further projected to impede the growth of the oil and gas automation and instrumentation market in the targeted period. However, the rising move towards the renewable energy sources might further challenge the growth of the oil and gas automation and instrumentation market in the near future.

This oil and gas automation and instrumentation market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the oil and gas automation and instrumentation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Oil and Gas Automation and Instrumentation Market

The pandemic of COVID-19 has had a huge impact on the oil and gas automation and instrumentation market. The COVID-19 epidemic slowed the expansion of numerous process sectors, which is expected to affect demand for process automation and instrumentation technologies. However, in the post-COVID scenario, oil and gas automation and instrumentation market is projected to be significantly impacted as the restrictions imposed by government has been completely uplifted and the production and exploration are carried out at a full capacity.

Recent Development

• In March 2020, ABB has introduced a new color-coded sensor line that makes it simple to select and manage the best pH measuring solution. The sensors will make it easier to determine the pH level of water.

Global Level Sensor Market Scope and Market Size

The oil and gas automation and instrumentation market is segmented on the basis of solution, instruments and process. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Solution

• Supervisory Control and Data Acquisition (SCADA)
• Programmable Logic Controller (PLC)
• Distributed Control Systems (DCS)
• Safety Automation, Advanced Process Control (APC)
• Manufacturing Execution System (MES)

On the basis of solution, the oil and gas automation and instrumentation market is segmented into supervisory control and data acquisition (SCADA), programmable logic controller (PLC), distributed control systems (DCS), safety automation, advanced process control (APC) and manufacturing execution system (MES). Safety automation is further sub segmented into burner management systems (BMS), emergency shutdown systems (ESD), fire and gas monitoring and control, high integrity pressure protection systems (HIPPS) and turbomachinery control (TMC).

Instruments

• Field Instruments
• Control Valves
• Leakage Detection System
• Flow Computer
• Communication

On the basis of instruments, the oil and gas automation and instrumentation market is segmented into field instruments, control valves, leakage detection system, flow computer, and communication. Field instruments have further been sub segmented into pressure transmitter, flow meter and temperature transmitter. Control valves have further been sub segmented into linear valves and rotary valves and components of control valve. Components of control valve have further been sub segmented into valve body, actuators, positioners and I/P converters. Communication is been sub segmented into wired protocols and wireless protocols.

Process

• Upstream Process
• Midstream Process
• Downstream Process

On the basis of process, the oil and gas automation and instrumentation market is segmented into upstream process, midstream process and downstream process.

Oil and Gas Automation and Instrumentation Market Regional Analysis/Insights

The oil and gas automation and instrumentation market is analysed and market size insights and trends are provided by country, solution, instruments and process as referenced above.

The countries covered in the oil and gas automation and instrumentation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

Middle East and Africa dominates the oil and gas automation and instrumentation market due to the rise in the demand for industrial automation for oil and gas. Furthermore, the growing number of oil reserves and refineries will further boost the growth of the oil and gas automation and instrumentation market in the region during the forecast period.

Asia-Pacific is projected to observe significant amount of growth in the rise in the development of the oil and gas industry. Moreover, the initiatives taken by the government promoting conventional energy industry is further anticipated to propel the growth of the oil and gas automation and instrumentation market in the region in the coming years.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Oil and Gas Automation and Instrumentation Market Share Analysis

The oil and gas automation and instrumentation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to oil and gas automation and instrumentation market.

 Some of the major players operating in the oil and gas automation and instrumentation market are:

• ABB (Switzerland)
• Yokogawa India Ltd. (Japan)
• Baker Hughes Company (US)
• BP plc (UK)
• SIGIT (Oman)
• Emerson Electric Co. (US)
• Mitsubishi Electric Corporation (Japan)
• Schneider Electric (France)
• Endress+Hauser Group Services AG (US)
• Schlumberger Limited (US)
• Halliburton (US)
• Rockwell Automation, Inc. (US)
• Honeywell International Inc. (US)
• INTECH (US)
• OMRON Corporation (Japan)
• Oil India Limited (India)
• Branom Instrument Co. (US)
• Eaton (Ireland)
• Siemens (US)

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