The process automation and instrumentation market is projected to expand at a CAGR of 4.28% to grow to US$128.440 billion by 2027, from US$95.790 billion in 2020.
The growing adoption of automation across various end-use industries due to rising production costs and stringent regulations regarding workers’ safety in hazardous working environments is one of the major drivers of the global process automation and instrumentation market. The rising need for energy-efficient processes to minimize material wastage is further driving the demand for these solutions. The growing need for software solutions for the detection and reduction of failures along with technological advancement will bolster the global process automation and instrumentation market growth over the next five years.
By Process Type
The process automation and instrumentation markets are segmented by process type into automation and instrumentation. The market for process automation solutions will grow at a higher CAGR during the forecast period due to the adoption of automation processes among various end-use industries such as food and beverage, pharmaceuticals, packaging, and pulp and paper among others. Growing concern over workers’ safety in hazardous locations, the need to eliminate human errors and manufacturing cycle time, and the need to manufacture products in a clean and hygienic environment will propel the growth of the process automation market globally.
By End-User Industry
The market is segmented by the end-user industry as oil and gas, water and wastewater, power, chemical, food and beverage, pharmaceuticals, and others. The oil and gas sector accounted for the largest market share in 2016 and is projected to continue its dominance throughout the forecast period. Rising demand for oil and gas worldwide, coupled with technological advances in drilling and exploring activities, will drive the demand for process automation and instrumentation solutions in this hazardous working environment industry. However, declining world oil prices could negatively impact the market growth rate in the near future.
Geographically, the Americas held the largest market size in 2020 and will remain in that position in the coming years owing to the rising investments in the chemical and petrochemical in the region. Major players such as Dow, Exxon, the joint venture of Chevron, and Phillips 66 have built large crackers along the U.S. Gulf of Mexico coast. Furthermore, APAC will witness the fastest regional market growth during the forecast period. This growth is majorly attributed to the growth of end-use industries such as food and beverage, oil and gas, pharmaceuticals, and packaging in the region. Rapid industrialization and expanding urbanization are pushing manufacturers to implement automation solutions on a larger scale.
|Market Size Value in 2020||US$95.790 billion|
|Market Size Value in 2027||US$128.440 billion|
|Growth Rate||CAGR of 4.28% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Process Type, Product, Solution, End-User Industry, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||ABB, Honeywell International, Mitsubishi Electric Corporation, Siemens AG, Pepperl+Fuchs GmbH, Rockwell Automation, Emerson Electric Company, Omron, General Electric, Texas Instruments|
|Customization Scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the process automation and instrumentation market size by 2027?
A1. The process automation and instrumentation market is projected to reach a market size of US$128.440 billion by 2027.
Q2. What is the size of the global process automation and instrumentation market?
A2. Process Automation And Instrumentation Market was valued at US$95.790 billion in 2020.
Q3. What are the growth prospects for the process automation and instrumentation market?
A3. The global process automation and instrumentation market is projected to expand at a CAGR of 4.28% during the forecast period.
Q4. Which region holds the largest share of the process automation and instrumentation market?
A4. Geographically, the Americas hold a significant share of the process automation and instrumentation market owing to the rising investments in the chemical and petrochemical in the region.
Q5. What factors are anticipated to drive the In process automation and instrumentation market growth?
A5. The growing adoption of automation across various end-use industries due to rising production costs and stringent regulations regarding workers’ safety in hazardous working environments is one of the major drivers of the global process automation and instrumentation market.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. PROCESS AUTOMATION AND INSTRUMENTATION MARKET, BY PROCESS TYPE
6. PROCESS AUTOMATION AND INSTRUMENTATION MARKET, BY PRODUCT
6.2. Control Valves
7. PROCESS AUTOMATION AND INSTRUMENTATION MARKET, BY SOLUTION
7.2. Programmable Logic Controller (PLC)
7.3. Distributed Control System (DCS)
7.4. Supervisory Control and Data Acquisition (SCADA)
7.5. Manufacturing Execution System (MES)
8. PROCESS AUTOMATION AND INSTRUMENTATION MARKET, BY END-USER INDUSTRY
8.2. Oil and Gas
8.3. Water and Wastewater
8.6. Food and Beverage
9. PROCESS AUTOMATION AND INSTRUMENTATION MARKET, BY GEOGRAPHY
9.2. North America
9.2.1. United States
9.3. South America
9.4.3. United Kingdom
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.5.2. United Arab Emirates
9.6. Asia Pacific
9.6.3. South Korea
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. COMPANY PROFILES
11.2. Honeywell International
11.3. Mitsubishi Electric Corporation
11.4. Siemens AG
11.5. Pepperl+Fuchs GmbH
11.6. Rockwell Automation
11.7. Emerson Electric Company
11.9. General Electric
11.10. Texas Instruments
Mitsubishi Electric Corporation
Emerson Electric Company
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