Valuable insights on the global scenario
of process automation and instrumentation have been put forth in a
structured order based on a recently carried out research on process
automation and instrumentation market. Future Market Insights in its
new publication titled “Process Automation and Instrumentation
Market: Global Industry Analysis (2012-2016) and Opportunity
Assessment (2017-2027)” has covered several key players, trends,
growth drivers, opportunities, developments and restraints across
several key geographies of North America, Western Europe, Eastern
Europe, Asia Pacific excluding Japan (APEJ), Latin America, Japan and
Middle East and Africa (MEA). On the basis of a systematic research
process and a detailed market segmentation, current and future
projections up to ten years, from 2017 to 2027, with respect to value
are drawn to deliver valuable acumen about the global market
scenario.
The global process automation and
instrumentation market is anticipated to grow at a significant growth
rate throughout the period of forecast of 2017-2027. The global
process automation market and the global process instrumentation
market collectively are estimated to reach a value of about US$ 174
Bn by the end of 2027.
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The global process automation market is
expected to witness robust growth during the assessment period and is
poised to register a CAGR of 6.0% throughout the 2017-2027 period. By
the end of 2027, the global market for process automation is
estimated to be valued at about US$ 153.6 Bn from a value of US$ 85.5
Bn in 2017. The global process instrumentation market is projected
to grow at a CAGR of 5.8% during the 2017-2027 assessment period. By
the end of 2027, the process instrumentation market is estimated to
reach a market evaluation of about US$ 20.5 Bn.
The global process automation and
instrumentation market is being driven by several aspects in the
market. Some of them are rising presence of process industries that
which need process automation and instrumentation, rising focus on
automation with a view to increase speed, quality and overall
productivity and reduce errors, rising oil and refineries industry,
significant demand for automation in the chemical industry,
competitive environment prevalent in various regions, rising
awareness towards digitalization and technological innovation, rising
ethernet and internet technologies in control systems on mining and
oil and gas plants, the increasing urge to maintain safety standards,
rising demand for process automation in the utilities sector and
rising awareness of digitizing oil and gas platforms.
The global process instrumentation market
is segmented by instrument type (transmitter, flow meters, analysers,
controllers, recorders, switches and vacuum instruments), application
(chemical, metal & mining, food & beverage, oil & gas,
pharmaceutical, power, pulp and paper, wastewater treatment and
others) and region.
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The global process automation and
instrumentation market research report has profiled several key
players involved in the market. Few of them are ABB Limited,
Endress+Hauser Management AG, Emerson Electric Company, Mitsubishi
Electric Company, Rockwell Automation Inc., Siemens AG, Pepperl+Fuchs
GmbH, HollySys Automation Technologies Ltd., Schneider Electric SE,
Honeywell International Inc., Yokogawa Electric Corporation, R. STAHL
AG, Bosch Group, Thermo Fisher Scientific Inc., Agilent Technologies,
Inc., Oxford Instruments Plc., Forbes Marshall Pvt. Ltd., Parker
Hannifin Corp. and Danaher Corp.
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