Process Automation and Instrumentation Market Research Report- Forecast till 2027

Process Automation & Instrumentation Market: By Instrument (Field Instrument, Control Valve And Analyzer), Solution (APC, DCS, HMI, MES, PLC, safety automation & SCADA), End-user (Chemicals, Energy & Power, Food & Beverages)– Forecast till 2027

ID: MRFR/SEM/4064-HCR | February 2021 | Region: Global | 100 pages

Automation & Instrumentation Market Scenario:


The process automation & instrumentation market is expected to grow at a CAGR of approximately 6% during the forecast period 2017-2023. Process Automation & Instrumentation (SDP) simulates the process of human thoughts into a computerized model. This is a self-learning technology which uses the gestures, patterns recognition, data mining, and Natural Language Processing (NLP) to act like a human brain. Industries are using Process Automation & Instrumentation with big data analytics to get the better and accurate output.


Technology giants such ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.). ABB Ltd., a prominent player in process automation and instrumentation market, manufactures DCS products, solutions, and services for continuous or batch process industries, infrastructure, energy, and utilities and deliver service in collaborative control rooms. Emerson Electric Co. a key player in the process automation and instrumentation market as adopt main automation contractor (MAC), which is responsible for providing automation technologies and services for the entire project. The MAC approach made managing the overall project much easier for the employees. It simplified sourcing, avoided integration headaches, provided clear lines of communication and accountability, and enabled Emerson’s automation expertise and their project management experience, tools, and resources.


The major factors driving the growth of the process automation & instrumentation market is the increase in adoption of IoT technology across various industrial domains, growing strict regulation and compliance in process industries and to improvise production efficiency and minimize operating cost. However, aspects such as the failure rate of the instrument, the vulnerability of instrument breakage are high during critical working condition and uncertainty of breakdown.


 


Process Automation & Instrumentation Market


 Process Automation & Instrumentation


Source: MRFR Analysis


Key Players:


Some of the prominent players in the global process automation & instrumentation market: ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).


Segments:


The global process automation & instrumentation market is segmented by instrument, solution, and end-user. The instrument segment consists of field instrument, control valve, and analyzer. Field instrument segment is further sub-segmented into pressure, temperature, level, humidity. The control valve segment consists of the valve body, actuator, and others. The analyzer consists of pH analyzer conductivity analyzer, gas chromatograph, and a liquid chromatograph. The solution segment consists of APC, DCS, HMI, MES, PLC, safety automation & SCADA. The end-user segment consists of chemicals, energy & power, food & beverages, metals & mining, oil & gas, pharmaceuticals, pulp & paper, water & wastewater, and others.


Regional Analysis:


The global process automation & instrumentation market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that the North America region accounts for the largest share in the global Process Automation & Instrumentation market. Owing to technological advancement, a well-established industrial area and the rising investment by the U.S. government across chemical & petrochemical industry is aiding the market growth. Asia Pacific is expected to be fastest growing owing to the presence of oil refineries in some countries, but the region has experienced a low market value.


Intended Audience



  • Technology Investors

  • Research/Consultancy firms

  • Original Instrument Manufacturers

  • Associations, organizations, forums, and alliances

  • Process automation & instrumentation manufacturers

  • End users of process industries

  • Automation consultants



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 72 Billion (2023)
  CAGR   6% (2017-2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Instrument, Solution
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).
  Key Market Opportunities   The rising investment by the U.S. government across chemical & petrochemical industry is aiding the market growth.
  Key Market Drivers   The major factors driving the growth of the process automation & instrumentation market is the increase in adoption of IoT technology across various industrial domains, growing strict regulation and compliance in process industries and to improvise production efficiency and minimize operating cost.


Frequently Asked Questions (FAQ) :


The global process automation and instrumentation market is projected to record a substantial market valuation of up to USD 12.5 billion by 2027.

The global process automation and instrumentation market is projected to register a moderate 6% CAGR in the forecast period.

The increasing adoption of IoT technology across various industrial domains is expected to drive the process automation and instrumentation market during the forecast period.

the vulnerability of instrument breakage are high during critical working condition is poised to restrain the process automation and instrumentation market during the forecast period.

A few major market players operating in the global process automation and instrumentation market are Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).