Oil & Gas Automation & Instrumentation Market growing | Automation.com

Oil & Gas Automation & Instrumentation Market growing

Oil & Gas Automation & Instrumentation Market growing
Global oil & gas automation & instrumentation market is expected to drive on account of increased crude production rate owing to automation & instrumentation employment in exploration process. Over the recent past, implementation of automation & instrumentation in oil & gas industry has established as an important step by industry participants for quick operations and improved performance.
 
Further, global growth is expected to be driven by continuously increasing global petroleum products demand coupled with developing sophisticated work flow requirement in oil & gas organizations. Increasing importance for functional time reduction through automation and instrumentation is expected to have a positive impact on the global industry.
 
Automation & instrumentation improves process efficiency & safety. It also helps in easy monitoring of the overall process. Such favorable features are expected to fuel the global market demand over the forecast period. Easy implementation in production as well as in oil & gas refining operations is expected to drive the global industry demand over the forecast period.
 
Automation & instrumentation solutions allow industries to implement secured ways of production. Complications involved in shale gas exploration in addition to need of upgraded machines are expected to drive the market for next six years mainly in North America and China.  Lower oil & gas resources availability is expected to challenge the overall industry growth over the forecast period.
 
Data integration complexities on account of automation & instrumentation are expected to hinder market growth. Initial installed systems in mature economies of U.S., Canada and EU has left less scope for further expansions in the region.
 
Back to top
Posted in:
Industry

MORE INDUSTRY NEWS

VIEW ALL

RELATED