ARC says Fuel Terminal Automation Market to grow
Considering the high value and hazardous nature of many of the products involved in terminal transactions, and the variety of different functions performed, a surprisingly large percentage of the world’s petroleum product terminals still operate with minimal automation. Terminal automation systems can certainly help increase efficiencies, improve accuracy, reduce labor and operational costs, enhance safety, and ease regulatory compliance. “Due to the increasing number of different products and additives handled, thin profit margins, price volatility, an onerous regulatory environment, and other considerations, including the need to operate around the clock, terminal automation is no longer optional,” says Senior Analyst Paul Miller, one of the principal authors of ARC’s “Terminal Automation Systems Worldwide Outlook.”
Capabilities of Terminal Automation Systems Have Evolved
Virtually every terminal requires some degree of automation to be able to operate in a safe, secure, compliant, and optimally profitable manner. Terminal automation systems are also being used in some very creative ways to help increase customer satisfaction. This can include providing customers with real-time inventory and transaction status via the Internet, and supporting their demanding e-commerce or data exchange requirements. The typically closed, proprietary, and relatively inflexible terminal automation systems of the past have evolved into much more open and flexible systems that can be configured with relative ease to match specific terminal requirements. This is important, because even within the same company there is no such thing as a “cookie cutter” terminal. Modern systems are also much more adaptable than the systems of the past, enabling them to be modified to meet constantly changing product, market, commercial, customer, and regulatory requirements.
Asia Will Lead Growth
The strongest growth in the terminal automation market will occur in the Asia Pacific region, particularly in China and India, where demand for refined fuels will increase substantially as automobile ownership ramps up and both countries build hydrocarbon supply chain infrastructures. Greenfield projects will drive the majority of growth, which should be steady for the foreseeable future.
In North America and Europe, where fuel terminals have long been a part of the landscape, growth will be more modest in comparison. However, terminal operators in these regions will be working to upgrade their facilities to handle a broader variety of additives and fuel blends (including biofuels), improve terminal safety, and better integrate supply chains with corporate business systems.
About ARC: Founded in 1986, ARC Advisory Group is the leading research and advisory firm for industry. For the complex business issues facing organizations today, ARC analysts have the industry knowledge and first-hand experience to help clients find the best answers.
MORE INDUSTRY NEWS
ABB announces Dr. Jef Beerten as first winner of ABB Research Award
Dr. Jef Beerten from KU Leuven, Belgium, receives a US $ 300,000 grant over the next three years for ongoing research at the forefront of energy...
Nordson to introduce 3 new process solutions at The Assembly Show
As part of the exhibition floor at The Assembly Show, with over 260 exhibitors, Nordson EFD (Booth 821) will feature live demonstrations of several...
AbraxSys Announces the Release of a New Line of 19 inch SXGA Rugged LCD Monitors
AbraxSys' new line of 19" tough LCD displays, address a growing need for higher durability than typically accomplished by other industry display...
CC-Link announces Molex receives network certification for PCI Express interface cards
Molex, Inc. provides two CC-Link certified PCI-Express interface products that are designed to work as a complete solution including full and half...
ISA opens Saudi Arabian training center at Jubail Industrial College
The Jubail-ISA Training Center brings ISA’s globally recognized automation and control instruction—as well as its certification review and...
Six Steps to Using the IoT to Deliver Maintenance Efficiency
By Kevin Terwilliger, Dell
This article discusses ways to utilize advanced IoT technology to enable successful predictive maintenance models for...
ISA and Beamex join to host flowmeter calibration webinar
The webinar, which will be held November 17 from 12-1:30 PM EST, will feature three automation experts: Nicole Meidl, Product Management Engineer,...
Protecting Industrial Control Systems: An Integrated Approach
By RKNeal, Inc.
The purpose of this whitepaper is to present a novel cybersecurity framework for deplaying and managing cyberthreat management...
GE to help Spirit Aerosystems forward to the Industrial Internet
Looking to increase production of critical aviation industry products, Spirit AeroSystems will implement Efficiency Analyzer on Predix, GE’s...
The Inside Story: Visualizing Column Hydraulic Behavior and the Product Ecosystem
By Jennifer Dyment, AspenTech
We all want the inside story. Greater visibility into asset performance can help chemical and energy companies gain...