Latest Report Titled On:- Global Oil & Gas Automation and Control System Market – Growth, Trends, and Forecast (2018 – 2023)
Global “Oil & Gas Automation and Control System Market” report provides a detailed analysis of the market from 2018 to 2023. Oil & Gas Automation and Control System market report focuses on market capacity, share, current market trends and upcoming future predictions. Global Oil & Gas Automation and Control System Market is expected to register a CAGR of approximately XX% during the forecast period of (2018 – 2023).
360 MARKET UPDATES Report provides a 360-degree overview of the global Oil & Gas Automation and Control System Market with special emphasis on all aspects including CAGR Status, drivers, restraints, and opportunities, market and regional segmentation.
Oil & Gas Automation and Control System Market Report Covers Leading Manufacturers: Rockwell Automation, Siemens AG, General Electric, ABB, Honeywell International Inc., Schneider Electric, Emerson Electric Co., Yokogawa Electric Corp., INTECH Process Automation Inc., GS Automation
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Automation and control system in oil & gas industry has helped in remote management of infrastructure, reduced the chances of downtime and risk, speeded up various process, etc. The demand for oil & gas infrastructure is increasing demand for automation and control system. The global crude oil & natural gas consumption grew by 1.2% and 2.24% annually, during 2005-16 (except in 2009). The outlook for upstream sector also looks positive as the crude oil price has recovered in 2017, and crossed USD 60 per barrel in November 2017. The significant growth in the oil & gas industry in the forecast period is expected to drive the automation and control system market in the industry.
Increase in Drilling Activity is Driving the Market
Drilling activity has been most affected by the downturn in upstream oil & gas industry. Automatic control of pipe handling and managed pressure drilling have reduced the risk significantly and speeded up the drilling process. It also reduces the operational downtime. Offshore oil & gas industry uses dynamic positioning rig for station keeping of floaters and drillships, drones for inspection of the platform, monitoring of gas emission, and others. The offshore drilling activity is expected to witness increased activity in the Golden Triangle – Gulf of Mexico, Brazil, and West Africa, along with the discovery of Egypts mammoth offshore natural gas field Zohr. In case of onshore the United States is expected to lead the market regarding drilling activity. As a result, the demand for automation and control system is expected to drive the market.
Growing Refinery Sector in Asia-Pacific is supporting the Market
The development of digital technologies, automation, and control systems has improved efficiency and better monitoring in the oil & gas refining sector. The refining industry uses Distributed Control System (DCS) to reduce the chances of downtime, potentially dangerous and damaging conditions, as DCS includes operational redundancy. The demand for refined fuels in Asia-Pacific is expected to outperform other regions in absolute volume terms, expanding by 17.2% between 2017 and 2026 (average annual growth rate of 1.8%). Several refinery projects are lined up in China and other countries in the region. As a result, the demand for automation in Asia-Pacifics refinery is expected to support the market in the forecast period.
Growing Natural Gas Pipeline Infrastructure in the US is Boosting the Market
Supervisory control and data acquisition (SCADA) based automation and control technology has been used for remote management of critical pipeline infrastructure. The United States is one of the largest consumers of crude oil and natural gas, accounting for almost 20% of global consumption. The country is planning to increase the share of natural gas in its energy mix. Several large interstate natural gas pipelines has come online in the past few years. The Federal Energy Regulatory Commission (FERC) certified new natural gas projects with total capacity of 17.6 billion cubic feet per day (Bcf/d) in 2016. Between January 30 and February 3, 2017, FERC certified seven projects of the total capacity of more than 7 Bcf/d, and includes more than 1500 miles of natural gas pipeline construction and expansion. Several miles of pipeline infrastructure in under construction or is expected to start construction during the forecast period, hence driving the demand for automation technology in oil & gas pipeline infrastructure.
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Reasons to Purchase Oil & Gas Automation and Control System Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
“We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”
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