Process Automation and Instrumentation Market
Process Automation and Instrumentation Market by Type (Process Automation, Process Instrumentation) by Application (Oil and gas industry, Power, Chemical and petrochemical, Water and wastewater) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
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
Frequently Asked Questions
-
What is
the global demand for Process Automation and Instrumentation
in terms of revenue?
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?
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?
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.
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?
Asia Pacific was the leading regional segment of the Process Automation and Instrumentation in 2020.
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