Harrisburg, NC -- (SBWire) -- 10/28/2020 --Global Oil and Gas Automation Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.
This Oil and Gas Automation Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.
The Oil & Gas Automation Market is expected to register a CAGR of 9.8% over the forecast period 2020 to 2025.
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The prominent players in the Global Oil and Gas Automation Market:
Honeywell International Inc., Siemens Corporation, ABB Ltd, Rockwell Automation Inc., and Others.
- March 2020 - Emerson and Quantum Reservoir Impact announced a partnership to develop and market next-generation applications for artificial intelligence-based analytics and decision-making tools designed for oil and gas exploration and production.
- February 2019 - Emerson launched a new campaign named We See global to showcase breakthrough innovation and positive opportunities for the company to improve the productivity and performance of its customers worldwide. The new campaign focuses on the challenges it solved in oil and gas, power, food safety, environmentally friendly refrigerants, and pharmaceutical manufacturing.
Key Market Trends: -
Distributed Control Systems to Have Significant Share
- Distributed Control Systems (DCS) is integrated as a control architecture comprising a supervisory level of control overseeing multiple, integrated sub-systems that are responsible for managing the details of a localized process. The significant usage of DCS is to control industrial processes such as oil and gas refineries, oil production, etc.
- Some of the major drivers of DCS include increased use of renewable and nuclear energy for power generation and adoption of the industrial internet of things (IIoT) for real-time decision making.
- DCS is also flexible enough to integrate various hardware solutions to provide a comprehensive solution. DCS also has the capability to incorporate traditional SIMATIC ET 200 distributed I/O stations as well as use modern smart devices with the Internet Of Things (IoT) technology.
North America Holds a Significant Market Share
- The United States is the largest market for oil and gas in North America. In 2019, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continue to rise, which aligned perfectly with the new administrations motto of energy dominance for the United States.
- In September 2019, the country exported 140,000 bpd more crude oil and petroleum products than imported. According to the Energy Information Agency, the total crude oil and petroleum net exports are expected to rise up to an average of 750,000 bpd in 2020 as compared with the net imports of 520,000 bpd in 2019.
- Baker Hughes uses the InForce surface control system, which combines the hydraulic power to activate downhole tools and the control logic to govern an intelligent well system. PLC controls system functions for more complex completion configurations. It is primarily used where remote operations must be done through existing SCADA.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Oil and Gas Automation Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Oil and Gas Automation Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Browse in-depth and report summary TOC on "Oil and Gas Automation Market":
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Finally, the Oil and Gas Automation market report offers a complete and detailed study of Global Oil and Gas Automation market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.
Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Oil and Gas Automation Market Overview and Future Scope 2025