• 出版社/出版日：Mordor Intelligence / 2021年2月15日
The process automation and instrumentation market is expected to grow at a CAGR of 6.1% over the forecast period (2021-2026). With the combination of digital and physical aspects of manufacturing, industrial automation has revolutionized over the years towards delivering optimum performance.
– The concentration of process industry towards achieving zero waste production and shorter time to market has augmented the growth of the market for both process automation as well as instrumentation used across the processing industries. In the process of manufacturing businesses, adoption of automation solutions provides various benefits including, effortless monitoring, reduction of waste, and speed of production. This technology gives customers improved quality with standardization and dependable products within time and at a much lower cost.
– According to Accenture, the oil and gas refineries adopting systematic digital technologies have gained over 40% of market capitalization, and 80% of these refineries have realized up to USD 50 million from these technologies.
– While the instruments such as physical control valve assembly have changed little over the years, the technology surrounding these valves has advanced significantly. Increased capabilities to gather digital intelligence in real-time will only continue to enable improvements in control valve automation moving forward. Combined with the newest smart digital control valve positioners and cutting-edge electric valve actuators, control valve automation is on an upward wave that is anticipated to benefit all modern process plants.
Key Market Trends
Oil and Gas Industry to Hold Significant Market Share
– In the oil and gas industry, protecting a pressurized pipeline from corrosion and leaks and minimizing downtime are a few of the crucial responsibilities in the industry. According to the NACE (National Association for Corrosion Engineers) that, the oil and gas industry suffers the cost of over USD 1.6 billion per year due to corrosion alone. The presence of oxygen in the gas sample determines that there is a leak in the pressurized pipeline system.
– According to the BP 2019 report on energy consumption, the total oil reserves across the world has increased to 1,730 million barrels in 2018, which grew by 2 million barrels from the previous year. The detection and monitoring of hydrogen sulfide (H2S) and carbon dioxide (CO2) are pertinent in natural gas processing.
– Advanced automation is capable of significantly reducing energy utilization in all areas of the oil and gas industry, including process units, utilities, and offsite units. Energy is the single largest controllable cost for most oil and gas refineries, often comprising more than 50% of non-crude operating expenses. Further, the increase in operational costs has caused most refineries to look even more closely at their energy utilization.
North America is Expected to hold the Largest Share
North America is one of the largest markets for the process automation and instrumentation market globally. The United States is renowned for its innovation capabilities and is at the forefront of prominent developments surrounding the emerging technologies of the Fourth Industrial Revolution. New-found shale resources in the United States, and an increasing number of oil and gas projects in Canada, are an additional indicator of the market potential.
The governments in the region are also focusing on increasing its energy generation capacity, and the American government is investing in such projects. For instance, in July 2019, the US DOE (Department of Energy) announced the funding of USD 16 million for 14 tribal energy infrastructure deployment projects. And, they also announced their plan to develop an environmental impact statement (EIS) to study the impacts of building a versatile nuclear test reactor in the US.
There are currently over 20 major upcoming water treatment construction projects across the United States; each is worth about USD 5 billion on average. Also, major companies are taking an interest in building waster water pipeline rehabilitation across the world. For instance, in August 2019, Insituform Technologies signed a contract to build a wastewater pipeline valued USD 5.7 million from the Montgomery Water Works & Sanitary Sewer Board (WWSSB) in Alabama.
The market for process automation and instrumentation is moderately fragmented with the presence of many key players operating in the segment with almost similar market share globally. Also, the market ecosystem is subjected to high initial cost along with high competition from established players including, ABB, Honeywell, and Rockwell Automation, among others increasing the barrier for new entrants into the market.
– September 2019 – ABB Limited announced to start the construction of its new robotics manufacturing and research facility in China, with an investment of USD 150 million. The new factory is expected to also help accelerate innovations in Artificial Intelligence (AI). This move is likely to allow to closely collaborate with its customers to co-develop automation solutions that are tailored to their individual needs.
– October 2019 – Emerson Electric Company has introduced its latest AMS Asset Monitor, which converts asset monitoring data into digital form to allow predictive analytics in the process industry.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Importance of Energy Efficiency and Cost Reduction
4.2.2 Increasing Adoption of IIoT Solutions
4.3 Market Restraints
4.3.1 High Investment for Implementation and Significant Maintenance Cost for Process Automation and Instrumentation Solutions
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness – Porter’s Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Instrument
5.1.1 Field Instruments
5.1.2 Control Valve
5.1.3 Analytical Instruments
5.2 By Solution
5.2.1 Advanced Process Control (APC)
5.2.2 Distributed Control System (DCS)
5.2.3 Human Machine Interaction (HMI)
5.2.4 Manufacturing Execution System (MES)
5.2.5 Programmable Logic Controller (PLC)
5.2.6 Safety Automation
5.2.7 Supervisory Control and Data Acquisition (SCADA)
5.3 By End-user Industry
5.3.1 Oil and Gas
5.3.2 Food and Beverage
5.3.3 Pharmaceutical and Biopharma
5.3.4 Chemical and Petrochemical
5.3.5 Other End-user Industries
5.4.1 North America
5.4.3 Asia Pacific
5.4.4 South America
5.4.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd
6.1.2 Emerson Electric Co.
6.1.3 Honeywell International, Inc.
6.1.4 Mitsubishi Electric
6.1.5 Rockwell Automation, Inc.
6.1.6 Schneider Electric SE
6.1.7 Siemens AG
6.1.8 Yokogawa Electric Corporation
6.1.9 General Electric Company
6.1.10 Eaton Corporation
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET