Global Industrial Automation Oil And Gas Market Share Report 2024, Forecast To 2033
8 Mar, 2024
The industrial automation oil and gas market, sized at $16.82 billion in 2023, is projected to reach $18.15 billion in 2024, growing at a 7.9% CAGR due to digitization and safety needs. Expected to hit $23.82 billion by 2028, driven by remote monitoring demand and IoT expansion, with trends like AI integration and robotics rise.
Global Industrial Automation Oil And Gas Market Key Driver
The industrial automation oil and gas market is growing with the increasing usage of the Internet of Things (IoT) in the oil and gas industry. With IoT enabling real-time monitoring and data collection, there's a growing demand for industrial automation solutions in the oil and gas sector.
Get A Free Sample Of The Global Industrial Automation Oil And Gas Market ReportGlobal Industrial Automation Oil And Gas Market Segments
The industrial automation oil and gas market covered in this report is segmented –
1) Component:Industrial Robots, Control Valves, Field Instruments, Human Machine Interference (HMI), Industrial PC, Process Analyzer, Intelligent Pigging, Vibration Monitoring
2) Stream:Upstream, Midstream, Downstream
3) Solutions:Supervisory Control And Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control Systems (DCS), Manufacturing Execution System (MES), Functional Safety, Plant Asset Management (PAM)
By Geography: The countries covered in the industrial automation oil and gas market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the industrial automation oil and gas market in 2023. The regions covered in the industrial automation oil and gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Industrial Automation Oil And Gas Industry Players
Siemens AG; General Electric Company; Mitsubishi Electric Corporation; Schneider Electric SE; Honeywell International Inc.; ABB Ltd.; Eaton Corp.; Emerson Electric Co.; Rockwell Automation Inc.; FANUC CORPORATION; Fuji Electric Co. Ltd.; Omron Corporation; AMETEK Inc.; Phoenix Contact; Festo Group; Endress+Hauser Group; Yokogawa Electric Corporation; AZBIL North Americas Inc.; KUKA AG; WAGO Corp.; Krohne Group; Pepperl+Fuchs SE; Beckhoff Automation LLC; Yokohama Industries Americas; Hitachi Industrial Equipment Systems Co. Ltd.; VEGA Grieshaber KG
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Industrial Automation Oil And Gas Market Overview
Industrial automation in oil and gas refers to applying advanced technologies and control systems to automate various processes involved in the extraction, production, refining, and distribution of oil and gas. Using industrial automation in the oil and gas sector increases efficiency, safety, and productivity while reducing operational costs and human intervention.