Sensors Market in Oil and Gas Industry: Technavio Research Identifies APAC as the Dominant Region
ABB Ltd., Amphenol Corp., Emerson Electric Co., Fortive Corp., General Electric Co., and Honeywell International Inc. are among the key vendors discussed in the research report
With an accelerating CAGR of 4.04%, the sensors market in Oil and gas industry is set to grow by $ 1.73 billion during the forecast period. Technavio research provides an in-depth analysis of the market across the different geographical segments. The report traces the growth trajectory of the market over recent years with a purview to the prevalent market scenario. It offers a thorough analysis of all the trends, drivers and challenges that are likely to impact the market during the forecast period.
The report presents offers a competitive analysis with insights on the key market players, financials, and leading product lines. This analysis will equip our clients with all the information needed to plan a post-pandemic growth strategy.
For a glimpse into our research analysis and insights:
Sensors Market in Oil and Gas Industry: APAC to lead market growth
- 37% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Sensors Market in Oil and Gas Industry size.
- Increase in LNG trade will be a significant factor in driving the growth of the sensors market in Oil and gas industry. This is because several countries are trying to increase the share of natural gas in their energy mix, which is increasing the demand for LNG. Furthermore, cross-border disputes and the geopolitical tension over pipelines have renewed the interest in LNG as a transport fuel. On the supply side, investments in LNG infrastructure have been increasing in Australia, Qatar, Africa, Russia, and the US.
- Another key factor driving the sensors market growth in the oil and gas industry is the increasing adoption of IoT products.The increasing use of unconventional drilling has led to a significant demand in the upstream industry for liquid-level sensors
- This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will thus enable clients to assess their play in the market and plan for growth opportunities.
- Market is segmented by Type (Wired and Wireless) and Geography (APAC, North America, Europe, MEA, and South America).
Browse through some of other related market research reports for more insights:
- Automotive Rain Sensors Market: The automotive rain sensors market is expected to grow by $ 1.62 billion, decelerating at a CAGR of almost 5.91% during the forecast period.
- Biosensors Market: The Global Biosensors market is projected to grow by $ 10.85 billion, accelerating at a CAGR of 7.70% till 2026.
- IoT Sensors Market: The Global IoT sensors market is projected to grow by $ 20.40 billion, accelerating at a CAGR of 27.67% till 2026.
- Quantum Sensors Market: The Quantum Sensors Market is projected to post an incremental growth of $ 362.79 million, at a CAGR of almost 12.70% till 2025.
The report provides insights into the following FAQs:
- What is the market CAGR?
The market will accelerate at a CAGR of 4.04%.
- What is the incremental growth of the market?
The market is expected to grow by $ 1.73 billion through 2022-2026.
- What is a key factor driving this market?
increase in LNG trade will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
37% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are ABB Ltd., Amphenol Corp., Emerson Electric Co., Fortive Corp., General Electric Co., Honeywell International Inc., LORD Corp., Rockwell Automation Inc., RS Technics BV, and Siemens AG
- What are the market segments covered in this report?
The market is segmented by Type (Wired and Wireless) and Geography (APAC, North America, Europe, MEA, and South America).
Market Segmentation by Type
- Sensors Market in Oil And Gas Industry Split by Type
- Sensors Market in Oil And Gas Industry Split by Geography
- North America
- South America
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- ABB Ltd.
- Amphenol Corp.
- Emerson Electric Co.
- Fortive Corp.
- General Electric Co.
- Honeywell International Inc.
- LORD Corp.
- Rockwell Automation Inc.
- RS Technics BV
- Siemens AG