The size of the worldwide oil and gas terminal automation market was estimated at US$ 1258.0 Million in 2021 and is anticipated to exceed US$ 1303.1 Million in 2022. The entire demand for oil & gas terminal automation is also anticipated to increase at a 7.8% CAGR between 2022 and 2032, reaching a value of over US$ 2761.6 Million by 2032 as a result of the oil and gas industry’s rapid expansion.
Growing demand for liquefied natural gas, along with excess oil and gas production in certain regions of the world, especially North America, has resulted in a greater emphasis on the development of storage terminals around the world. As a result, increased investment in the development of oil and gas terminals is expected during the projection period. This, together with the current demand-supply dynamic, is likely to drive revenue growth in the worldwide oil and gas terminal automation market during the next ten years. During the projected period, there will be a greater emphasis on the use of wireless technology and Internet of Things (IoT)-based terminal automation systems.
Get | Download Sample Copy, Graphs & List of Figures @
https://www.futuremarketinsights.com/reports/sample/rep-gb-197
Growing concerns pertaining to cyber security and safety coupled with relatively higher initial capital investment associated with building a completely automated oil and gas terminal are likely to serve as impediments to growth of the global oil and gas terminal automation market between 2016 and 2026.
Segmentation highlights
Global oil and gas terminal automation market has been categorically divided into key market segments based on category and regions. On the basis of category, the market has been segmented into software, hardware, and services segments. These in turn are divided into key sub-segments.
- The Software category segment is projected to dominate the global oil and gas terminal automation market during the forecast period, accounting for a market share of nearly 38% in terms of value by the end of 2026. On the other hand, the hardware segment is estimated to witness 7.0% CAGR during forecast period to account for a market share of 33.7% in the overall oil and gas terminal automation market by 2026 end. Within the hardware segment, the HMI segment is likely to witness fast growth during 2016 –-2026.
Regional projections
The North America and Asia Pacific excluding Japan (APEJ) markets are anticipated to emerge the dominant regional markets in the global oil and gas terminal automation market throughout the assessed period. Asia Pacific is estimated to project 8.8% CAGR in the forecast period, 2016–2026. The oil and gas terminal automation market in countries in Eastern Europe is also likely to witness steady growth in the next 10 years.
Vendor insights
The global oil and gas terminal automation market is dominated by a few top market companies such as Honeywell International Inc., Emerson Electric Co., ABB Group, Rockwell Automation, Inc., Yokogawa Electric Corporation, Siemens AG, FMC Technologies, Inc., and Schneider Electric SE. Certain key market companies are increasingly focussing on acquiring smaller players with specialised offerings – for instance, wireless technology based advanced systems – to better cater to the steadily growing global market demands so as to gain an edge over competition.
For any Queries Related with the Report, Ask an Analyst @
https://www.futuremarketinsights.com/ask-question/rep-gb-197
Key Segments Covered in Oil & Gas Terminal Automation Industry Analysis
By Hardware:
- ATG
- Blending Controllers
- SCADA
- PLC
- DCS
- HMI
- Safety; Security & Others
By Software:
- Terminal & Inventory Management
- Business System Integration
- Transaction Management
- Reporting
- Others
By Services:
- Commissioning
- Consulting Services
- Project Management
- Operations Services
- Training Services
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
For More Information or Query or Customization Before Buying, Visit @
https://www.futuremarketinsights.com/customization-available/rep-gb-197
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us :
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
