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
Research Methodology: Process Automation and Instrumentation Market by Type by Application by by Region – Global Market Assessment, 2021 - 2028
The research process involves the exhaustive study of several factors impacting industry dynamics such as competitive landscape, government policies, historical outlook, current market scenario, and other macro/micro factors. The whole research process is divided into three stages namely: Secondary Research, Primary Research, and Data Triangulation. The ratio of the resources involved in each stage differs as per the data availability for a particular section of the report or as per the market dynamics. We have conducted more than 150 primary interviews during the Process Automation and Instrumentation market study either through mail or telephone call. Out of the total primary respondents, 30% were from North America, 24% were from Europe, 33% were from the Asia Pacific, and the rest of the respondents were from Latin America and MEA
Secondary Research
Primary Research:
After the secondary research, primary research was used to derive and estimate market numbers for mentioned segments/sub-segments in the Process Automation and Instrumentation market. During the primary data collection process, the secondary data was analyzed and revalidated through exhaustive primary research. This helps to study any minutest details of the market along with building a clearer market-specific view for revenue estimations, industry trends, within each end0use industry, and estimate future trends within the market.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Process Automation and Instrumentation market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statistics and future market trends.
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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