Latest News - Oil and Gas Pipeline and Transportation Automation Market: Pipeline is expected to lead the Application segment during 2024-2028

The Oil and Gas Pipeline and Transportation Automation Market is being driven by Growing expansion of oil terminals

The Oil and Gas Pipeline and Transportation Automation Market is expected to grow at a CAGR of 3.16% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1.47 billion. In the oil and gas industry, the midstream sector plays a pivotal role in connecting supply and demand centers while optimizing the supply chain. However, the sector faced challenges following the crude oil price decline in 2015, forcing companies to invest in cost reduction strategies. One such area of focus is pipeline and transportation automation, aimed at enhancing reliability and mitigating issues in the oil and gas midstream sector. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Pipeline
  • LNG
  • Terminal
• Solution
  • SCADA
  • DCS
  • PLC
• Geography
  • North America
    • US
    • Canada
  • APAC
    • China
  • Europe
    • Russia
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing expansion of oil terminals
• Benefits of pipelines over other modes of oil and gas transportation
• New exploration policies

However, the market also witnesses some limitations, which are as follows:

• Increasing use of alternative energy sources
• Technical challenges associated with transportation of crude oil and natural gas
• High cost associated with maintenance of pipeline and transportation infrastructure

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Market Scope in Oil and Gas Pipeline and Transportation Automation Market Research Report

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Research Analysis Overview

In the Oil and Gas sector, pipeline and transportation automation have become essential for optimizing operations, enhancing safety, and reducing downtime. Machine learning, artificial intelligence, and IoT technologies are integral to automation solutions, enabling real-time data analytics, predictive maintenance algorithms, and automated valve control. Regulations and standards dictate the implementation of communication networks, SCADA systems, and programmable logic controllers for process automation. Safety and security are paramount in this industry, with software algorithms and control systems ensuring efficient and reliable pipeline operations. Sensors and distributed control systems monitor LNG, pipeline, and refinery processes, providing valuable insights for predictive analytics and proactive maintenance. Extraction sites also benefit from automation, reducing human errors and improving overall efficiency. The Oil and Gas pipeline and transportation automation market continues to evolve, with a focus on improving operational performance, ensuring regulatory compliance, and enhancing safety and security. Predictive maintenance algorithms and remote monitoring play a crucial role in minimizing downtime and maximizing asset utilization.

Market Research Overview

The Oil and Gas Pipeline and Transportation Automation Market is a significant segment of the broader Global Oil and Gas Storage and Transportation Market. This market caters to companies specializing in the transportation and storage of oil, gas, and refined products. As a crucial component of the oil and gas value chain, the midstream sector is anticipated to expand at a steady rate. Technavio's market analysis calculates the market size based on the consolidated revenues of equipment, supply, and service providers in this sector. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/