Trends, Drivers and Vendor Forecasts for 2021-2025
Accelerating at a CAGR of 1.72%, the oil and gas pipeline and transportation automation market is expected to post an incremental growth of $ 742.43 million over the next five years. ABB Ltd., Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. are among the key market players.
The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights. In addition, our report offers a deep understanding of the key market players and their product portfolios. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
Oil And Gas Pipeline And Transportation Automation Market: Market Segments and Key Trends
The Oil and gas pipeline and transportation automation market is segmented by Application (pipeline and LNG and terminal) and Geography (North America, APAC, Europe, MEA, and South America). APAC led the market with 32% of the market growth set to originate from this region during the forecast period. China is the key market in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America. This is due to the high offshore capital expenditure and the increasing number of oil rigs and new oil platform installation projects in the region.
Growth by the pipeline application segment will be significant during the forecast period as pipelines are integral components of the oil and gas midstream sector and used for oil and gas transportation. The use of smart sensors, instruments, and software helps pipeline operators to capture data from multiple locations where it was earlier not possible. The demand for automation in pipelines is led by the increasing regulatory control over the oil and gas industry and the construction of new pipelines. This research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth.
Oil And Gas Pipeline And Transportation Automation Market: Top Drivers to Boost Demand
Expansion of oil terminals is one of the primary factors driving the growth of the oil and gas pipeline and transportation automation market. The rising energy demand has led to the creation of new terminals and pipeline construction including oil and gas pipeline and transportation automation, especially in APAC and Africa. For instance, Saudi Aramco has already constructed the Muajjiz oil terminal with a holding capacity of 15 million barrels per day. These new oil and gas exploration and production activities, along with improved and efficient pipelines for oil and gas transportation are expected to drive market growth.
The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. For additional insights on this market: Download FREE Sample Report.
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