Process Automation and Instrumentation Market
Process Automation and Instrumentation Market Global Industry Assessment & Forecast
Segments Covered
- By Type Process Automation, Process Instrumentation
- By Application Oil and gas industry, Power, Chemical and petrochemical, Water and wastewater
Snapshot
Forecast Years: | 2021 - 2028 |
Historical Years: | 2016 - 2020 |
Revenue 2021: | 67.4 Billion |
Revenue 2028: | 82.76 Billion |
Revenue CAGR (2021 - 2028): | 2.6 |
Fastest Growing Region (2022 - 2028) | Asia Pacific |
Customization Offered
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
The report delivers an acute breakdown of the market based on various segments such as Type, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.
On the basis of Type, the market is divided into Process Automation, Process Instrumentation. Left Regular Spray dominated the global Process Automation and Instrumentation market in 2020 and is projected to witness the same trend during the forecast period.
Based on Application, the market is segmented into Oil and gas industry, Power, Chemical and petrochemical, Water and wastewater. Marine accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Process Automation and Instrumentation Market: Type Segment Analysis
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- Process Automation
- Process Instrumentation
Global Process Automation and Instrumentation Market: Application Segment Analysis
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- Oil and gas industry
- Power
- Chemical and petrochemical
- Water and wastewater
FAQ
Frequently Asked Question
What is the global demand for Process Automation and Instrumentation in terms of revenue?
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The global Process Automation and Instrumentation valued at 67.4 Billion in 2020 and is expected to reach 82.76 Billion in 2028 growing at a CAGR of 2.6%.
Which are the prominent players in the market?
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The prominent players in the market are Schneider Electric SA (France), Emerson Electric Company (U.S.), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), Mitsubishi Electric Corporation (Japan), Honeywell International Inc. (U.S.), ABB Ltd., Omron Corporation (Japan), Rockwell Automation Inc. (U.S.)..
At what CAGR is the market projected to grow within the forecast period?
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The market is project to grow at a CAGR of 2.6% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
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The driving factors of the Process Automation and Instrumentation include
- The fiscal policy steps taken by regional financial institutions to keep manufacturing facilities floating amid COVID-19 crisis is drivng the growth of the process automation and instrumentation market.
- Furthermore,the growing importance of energy efficiency and cost reduction coupled with emphasis on industrial automation and optimum utilization of resources is also expected to fuel the growth of the market in the years to come.
Which region accounted for the largest share in the market?
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Asia Pacific was the leading regional segment of the Process Automation and Instrumentation in 2020.