The market for oil and gas terminals Automation was valued at US$ 1303.1 million in 2023 and is expected to reach US$ 1303.1 million or more in 2023. Due to the oil and gas industry’s rapid expansion, it is also expected that the total demand for oil and gas terminal automation would grow at a 7.8% CAGR between 2023 and 2033, reaching a value of more than US$ 2787.5 Million by 2033.
Increased attention is being paid to the construction of storage terminals all over the world as a result of the growing demand for liquefied natural gas and excess oil and gas production in some areas of the world, particularly North America. As a result, it is probable that throughout the forecast period, investment in the development of oil and gas ports would increase.
This, along with the existing demand-supply scenario is expected to boost revenue growth of the global oil and gas terminal automation market in the next 10 years. Growing emphasis on adoption of Wireless technology and Internet of Things (IoT) based terminal automation systems is anticipated to be witnessed during forecast period.
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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.
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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)
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