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Oil and Gas Automation Market Outlook 2019 | Shows Industry Overview, Size, Share, Remarkable Growth Factors, Types, and Applications Forecast to 2024

Oil

The “Oil and Gas Automation Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Oil and Gas Automation Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Oil and Gas Automation market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Oil and Gas Automation Market Are:

  • Mitsubishi Electric Corporation
  • Schneider Electric SE
  • Emerson Electric Co.
  • Eaton Corporation
  • Dassault Systemes
  • Honeywell International Inc.
  • ABB Ltd
  • Rockwell Automation Inc.
  • Yokogawa Electric Corporation
  • Siemens Corporation
  • Robert Bosch GmbH
  • Texas Instruments Inc.
  • Johnson Controls Inc.

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    Market Overview:

  • The oil and gas automation market is expected to register a CAGR of over 6.47% during the forecast period, 2019 – 2024. In the oil and gas industry processes, there is always a high demand for safety and reliability. The supply chain of this industry creates a great need for automation, industry expertise, and an extensive partner network. Process automation helps oil and gas producers to integrate information, as well as control, power, and provide safety solutions, in order to respond to the dynamic global demand.
  • From the past, it is observed that even though the oil prices are fluctuating, the demand for oil and gas remained stable. Price of oil per barrel has gone to a peak level of more than USD 140, and also, a trough low to USD 20, but the average energy consumption is steadily increasing, globally. As of 2017, it was estimated that the world consumed over 98 million barrels of oil every day, indicating a growth of almost 2% when compared to 2016. Such a rate of consumption was primarily spiked by the reduced crude oil prices and increasing demand from automobiles.
  • In addition to that, since the low prices of crude hit the market in early 2014, the major consumption groups in the Asian and European countries have predominantly benefited from these changes. In fact, according to the British Petroleum’s estimates, the regions witnessed a towering increase in the refinery capacities and throughputs. The refining capacity and throughput of the Asia-Pacific region spiked by 1.3% and 8.6%, respectively, between 2013 and 2016. It is estimated that the region was able to refine over 27,000 million barrels of oil every day, in 2016, owing to cheaper crude oil.
  • The low crude oil price situation occurred toward the end of 2014, due to the oversupply situation of crude oil, globally. The new-found shale resources in North America and high production in the Middle East forced down the prices in the global market.
  • To rebalance the situation, the Organization of the Petroleum Exporting Countries (OPEC) has taken the initiative of minimizing crude oil production, until the prices are back to normal. This has affected the demand for automation in the industry severely.
  • Although the oil prices have come back to their usual prices, the cutbacks in the name of reserve development and OPEC’s decision are expected to create supply constraints. Cutting back oil production, in order to balance the oversupply situation, might be a meaningful choice. But, the extended cuts, until the end of 2018, are raising the fear that this situation may send the world into a supply shock. Recovering from the oversupply situation is a crucial step for the global oil and gas industry. However, improving from the case with a supply shock may lead to some unexpected results, thus adversely affecting all the industries.

    Scope of the Report:

  • Oil and gas, a dynamic global industry, often faces challenges in cost management, extraction of high value from current assets, and maximization of the up-time. Advancement in technology has led to a connected enterprise, which helps the oil and gas industry to move closer to operational excellence. Cloud, mobility, and analytics offer an actionable view into real-time production data.

    Oil and Gas Automation Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Oil and Gas Automation market?
    • What are the key market trends impacting the growth of the global Oil and Gas Automation market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Oil and Gas Automation market?
    • What are the market opportunities and threats faced by the vendors in the global Oil and Gas Automation market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Oil and Gas Automation market?

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    Key Market Trends:

    Enterprise Resource and Planning (ERP) is Expected to Register a Significant Growth

    ERP systems offer an integrated real-time view of core operations, such as product planning, development, manufacturing, sales, and marketing. At workstations, these ERP systems enable the scheduling and management of the workflow, while implementing a well-organized product cycle, which is done by monitoring the progress of various processes, as well as providing analytical data that aids decision-making. The features reduce excessive inventory costs. Oil and gas industries are among the early adopters for the ERP system, as the operations are highly dependent upon workflow management and market analysis. ERP providers are designing solutions specific to the upstream, midstream, and downstream activities.
    As SCADA systems are capable of integration with ERP solution, real-time asset performance can be monitored and their maintenance schedules can be automated, thereby, avoiding sudden/unplanned downtime. The need for reducing the machine downtime expenses across the upstream and downstream companies supports the growth of the ERP segment in the market studied. SCADA, integrated with ERP, is becoming popular in the oil and gas industry, owing to the focus on safety. In the downstream companies, such integration is allowing companies to correctly map business processes, risk factors, and control mechanisms, thus, streamlining the resource utilization and maintenance capabilities.
    Due to the growing importance of synchronizing and supplementing an organization’s business processes, the demand for ERP solutions is expected to increase during the forecast period. However, the availability of open source applications, tough competition, and higher implementation costs are expected to challenge the market’s growth.

    United States is Expected to Hold Major Share

    The dependence of the oil and gas industry on automation has increased over the past decade, and multiple rounds of industry layoffs were announced that left oil and gas companies with a reduced number of skilled workers. This led to the increasing dependence of US oil companies on automation, in order to complete processes without any delay. In 2017, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continued to rise, which aligned perfectly with the new administration’s motto of “energy dominance” for the United States.
    Although the US is still a net importer of crude, the growing place as an energy exporter and low-cost supplier could fundamentally change its position in the global energy landscape. As a result, automation is increasingly being adopted in the oil and gas sector in the United States. In terms of cost reductions, US natural gas producers have lowered and sustained costs, especially in the Marcellus and Haynesville gas plays, with the aid of automation.
    For instance, SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors in the United States. In the upstream sector, its role is often stereotyped as being largely in support of remote data transmission. However, due to the wide and varied use of SCADA in other industrial sectors, this is expected to change. In addition, owners and operators in the United States recognize how IT-based automation can productively address the unique challenges of the upstream oil and gas sector.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Oil and Gas Automation Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Oil and Gas Automation.

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    Report Objectives:

    • Analyzing the size of the Oil and Gas Automation market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Oil and Gas Automation market.
    • Determining the key dynamics of the Oil and Gas Automation market.
    • Highlighting significant trends of the Oil and Gas Automation market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Oil and Gas Automation market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Oil and Gas Automation market.

    Detailed TOC of Oil and Gas Automation Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Oil Consumption
    4.3.2 Increasing Scarcity of Skilled Workers
    4.4 Market Restraints
    4.4.1 Volatile Oil Price Situation
    4.5 Value Chain / Supply Chain Analysis
    4.6 Industry Attractiveness – Porters Five Forces Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Offering
    5.1.1 Hardware
    5.1.2 Software
    5.1.3 Service
    5.2 By Technology
    5.2.1 Supervisory Control and Data Acquisition (SCADA)
    5.2.2 Programmable Logic Controller (PLC)
    5.2.3 Distributed Control System (DCS)
    5.2.4 Machine Execution System (MES)
    5.2.5 Product Lifecycle Management (PLM)
    5.2.6 Enterprise Resource Planning (ERP)
    5.2.7 Human Machine Interface (HMI)
    5.2.8 Other Technologies
    5.3 By Process
    5.3.1 Upstream
    5.3.2 Midstream
    5.3.3 Downstream
    5.4 Geography
    5.4.1 North America
    5.4.1.1 US
    5.4.1.2 Canada
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 UK
    5.4.2.3 France
    5.4.2.4 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Rest of Asia-Pacific
    5.4.4 Latin America
    5.4.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Mitsubishi Electric Corporation
    6.1.2 Schneider Electric SE
    6.1.3 Emerson Electric Co.
    6.1.4 Eaton Corporation
    6.1.5 Dassault Systemes
    6.1.6 Honeywell International Inc.
    6.1.7 ABB Ltd
    6.1.8 Rockwell Automation Inc.
    6.1.9 Yokogawa Electric Corporation
    6.1.10 Siemens Corporation
    6.1.11 Robert Bosch GmbH
    6.1.12 Texas Instruments Inc.
    6.1.13 Johnson Controls Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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