Global Process Automation & Instrumentation Market
The global Process Automation & Instrumentation Market was valued at USD 59.06 billion in 2016 and is projected to reach USD 96.11 billion by 2025, growing at a CAGR of 5.56% from 2017 to 2025.
The automation industry and instrumentation is increasing with advances in IoT sector. Due to number of drivers, like adoption of automation systems, and detection of errors at component level, the market is seeing a positive trend and is expected to grow at a high CAGR till 2025.
1. Market Drivers
1.1 Increasing applications of IoT Across Various Industries
1.2 Growingfocus on Regulatory Compliances in Process Industries
1.3 Growing Focus to Improve Production Efficiency and Optimize Operating Costs
1.4 Growing Demand for Proactive Solutions That Determine Failures at Component Level
1.5 Shift in Production Approach From Conventional Practices to Digitalized Methods
1.6 Growing Labor Wages in Major Manufacturing Hubs
2. Market Restraints
2.1 Significant Start-Up Capital Required
2.2 Reluctance of Small and Medium-Sized Enterprises
1. Global Process Automation & Instrumentation Market, by Instrument:
1.1 Control Valve
1.1.1 Valve Body
18.104.22.168 Converter I/P
1.2 Field Instrument
1.3.1 Ph Analyzer
1.3.2 Conductivity Analyzer
1.3.3 Gas Chromatograph
1.3.4 Liquid Chromatograph
2. Global Process Automation & Instrumentation Market, by Type:
2.1 Process Automation
2.2 Process Instrumentation
3. Global Process Automation & Instrumentation Market, by Solution:
3.1 Programmable Logic Controller (PLC)
3.2 Distributed Control System (DCS)
3.3 Supervisory Control and Data Acquisition (SCADA)
3.4 Human Machine Interface (HMI)
3.5 Safety Automation
3.5.1 Emergency Shutdown System (Esd)
3.5.2 Fire and Gas Monitoring & Control
3.5.3 High Integrity Pressure Protection System (HIPPS)
3.5.4 Burner Management System (BMS)
3.5.5 Turbomachinery Control (TMC)
3.6 Advanced Process Control (APC)
3.7 Manufacturing Execution System (MES)
4. Global Process Automation & Instrumentation Market, by Communication:
4.1 Wired Communication Protocol
4.2 Wireless Communication Protocol
5. Global Process Automation & Instrumentation Market, by End User:
5.2 Energy & Power
5.3 Food & Beverages
5.4 Metals & Mining
5.5 Oil & Gas
5.7 Pulp & Paper
5.8 Water & Wastewater
6. Global Process Automation & Instrumentation Market, by Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. ABB Ltd.
2. Emerson Electric Co.
3. Honeywell International Inc.
4. Siemens AG
5. Rockwell Automation, Inc.
6. General Electric Co.
7. Metso Corporation
8. Mitsubishi Electric Corporation
9. Schneider Electric Se
10. Yokogawa Electric Corporation
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Process Automation & Instrumentation Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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