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Process Automation and Instrumentation Market Research Report Information By Instrument (Field Instrument and Control Valve And Analyzer), By Solution (APC, DCS, HMI, MES, PLC, and Safety automation & SCADA), By Surgery (Chemicals, Energy & Power, and Food & Beverages), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) โ€“ Industry Forecast Till 2032


ID: MRFR/SEM/4064-CR | 100 Pages | Author: Aarti Dhapte| September 2022

Process Automation Instrumentation Market Summary

As per Market Research Future Analysis, the Global Process Automation and Instrumentation Market was valued at USD 4.0 billion in 2023 and is projected to grow to USD 6.6 billion by 2032, with a CAGR of 5.7% from 2024 to 2032. The market is driven by the increasing focus on regulatory compliance and the adoption of Industry 4.0 technologies, which enhance productivity and efficiency in manufacturing. The field instruments segment dominated the market in 2022, contributing approximately 65-67% of the revenue. The energy and power sector is expected to be the fastest-growing end-user segment during the forecast period, driven by rising demand for petroleum products and automation solutions.

Key Market Trends & Highlights

Key trends influencing the market include advancements in automation technologies and increasing demand for efficiency.

  • Process Automation and Instrumentation Market Size in 2023: USD 4.0 billion.
  • Projected Market Size by 2032: USD 6.6 billion.
  • CAGR during 2024-2032: 5.7%.
  • Field instruments held 65-67% of market revenue in 2022.

Market Size & Forecast

2023 Market Size: USD 4.0 billion
2024 Market Size: USD 4.2 billion
2032 Market Size: USD 6.6 billion
Fastest Growing Segment: Energy and Power.

Major Players

Major players include ABB Ltd (Switzerland), General Electric Co. (U.S), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S), Emerson Electric Co. (U.S), and Siemens AG (Germany).

Global Process Automation and Instrumentation Market Overview

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Process Automation and Instrumentation Market Trends

Growing Prevalence of Industry 4.0 to boost the market growth

With the introduction of Industry 4.0, the Industrial Internet of Things (IIoT) became a reality. The technology allowed for connectivity between all devices and enormous data communications. The fourth industrial revolution transformed the entire landscape of manufacturing. The technique greatly improved the productivity and efficiency of manufacturers. Small and medium-sized businesses (SMEs) are faced with the issue of adopting new technologies and manufacturing practices due to a lack of technological understanding, high implementation costs, and uncertainty about return on investment.

Moreover, the growth of the examined market is supported by the rising significance of cost optimization, improved productivity, energy efficiency, better scalability, and decreased errors. Combining the digital and physical parts of manufacturing to achieve peak performance has changed the automation sector. The process automation and instrumentation market used in the processing industries has grown due to the focus on a quicker time to market and achieving zero waste output. Manufacturing process automation has several advantages, including easy monitoring, decreased waste, and increased production rates. The adoption of SCADA, HMI, PLC, and visualization software has been greatly aided by the connection of industrial machinery and equipment and the acquisition of real-time data. This enables the reduction of product faults, the reduction of downtime, the scheduling of maintenance, and the transition from the reactive state to the predictive and prescriptive stages for decision-making. Therefore, such advancements are enabling the Process Automation and Instrumentation market CAGR across the globe in the recent

While the technology relating to these valves has improved greatly, instruments like the physical control valve assembly have changed little over time. Future advancements in control valve automation will only be possible because of improved real-time digital intelligence-gathering capabilities. Automation of control valves is on the rise. It is expected to positively impact all contemporary process plants when combined with the most advanced intelligent digital control valve positioners and cutting-edge electric valve actuators, increasing the footprint of the Process Automation and Instrumentation market revenue.

Process Automation and Instrumentation Market Segment Insights:

Process Automation and Instrumentation Type Insights

Based on instruments, the Process Automation and Instrumentation market segmentation includes field instruments, control valves, and analyzers. The field instruments segment held the majority share in 2022, contributing to around ~65-67% of the Process Automation and Instrumentation market revenue.ย 

Field instruments assist in managing plant assets, leading to enhanced plant quality while optimizing overall production processes. This is achieved through data acquisition, control, and measurement. Additionally, these instruments are used for reading major parameters such as temperature, pressure, and level for monitoring processes rapidly and securely.

Figure 1: Process Automation and Instrumentation Market, by Instruments, 2022 & 2030 (USD billion)Process Automation and Instrumentation Market, by Instruments, 2022 & 2030

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Process Automation and Instrumentation Solution Insights

Based on the solution, the Process Automation and Instrumentation market segmentation includes APC, DCS, HMI, MES, PLC, and Safety automation & SCADA. The PLC segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032. The market for programmable logic control, which manages different industrial processes by integrating a PC and a PLC into a single system.ย 

This controller comprises two or more processors and PC-based software programs with PLC capabilities, including HMI (human-machine interface) features, asset management, history, advanced process control (APC), and others. Due to its programmable interface's lack of ladder logic, this system can handle analog and digital signals. Technology advances can improve production and product flexibility in various industries, adding value to market growth.

Process Automation and Instrumentation End-User Insights

The Process Automation and Instrumentation market data has been bifurcated by end-user into chemicals, energy & power, and food & beverages. The energy and power segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2024-2032.ย 

There has been an increase in exploration and extraction activities and the upgrading of existing oil and gas rigs due to the rising demand for petroleum products, including gasoline, diesel, and natural gas. These are the primary drivers of process automation and instrumentation demand in the market.

March 2020: A contract was struck between Renaissance Heavy Industries and Yokogawa Turkey Industrial Automation Solutions A.S. (Yokogawa Turkey). As a result of this arrangement, the former company will supply a control system and field instruments for Turkmenistan's Zerger gas-fired power plant. This will increase the footprint of the Process Automation and Instrumentation industry.

January 2020: A contract was struck between Renaissance Heavy Industries and Yokogawa Turkey Industrial Automation Solutions A.S. (Yokogawa Turkey). As a result of this arrangement, the former company will supply a control system and field instruments for Turkmenistan's Zerger gas-fired power plant.

Process Automation and Instrumentation Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America Process Automation and Instrumentation market accounted for USD 1.7 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The United States is famous for its capacity for innovation and is leading important advancements in the cutting-edge technologies of the Fourth Industrial Revolution.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: PROCESS AUTOMATION AND INSTRUMENTATION MARKET SHARE BY REGION 2022 (%)PROCESS AUTOMATION AND INSTRUMENTATION MARKET SHARE BY REGION 2022

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe Process Automation and Instrumentation market account for the second-largest market share during the forecast period in 2022. The demand for this market in the region is anticipated to be driven by the growing need for improved operational efficiency, higher safety, and new technological advancements. The EU's most automated economy is found in Germany. There are about 230,000 industrial robots in operation in Germany. In 2020, only 22,300 new units were put in place. As a result, German industries use around three times as many industrial robots as Italian factories (78,200 units as of 2021), five times as many as French factories (44,800 units as of 2021), and ten times as much as UK factories (23,000 units as of 2021). Further, the Germany Process Automation and Instrumentation market held the largest market share, and the UK Process Automation and Instrumentation market was the fastest-growing market in the European region

The Asia-Pacific Process Automation and Instrumentation Market are expected to grow at the fastest CAGR from 2024 to 2032. This is due to increasing focus of government programs to promote automated technologies, extensive domestic manufacturing, and information technology development. Moreover, China Process Automation and Instrumentation market held the largest market share, and the India Process Automation and Instrumentation market was the fastest-growing market in the Asia-Pacific region

For instance, India Process Automation and Instrumentation market will grow with the fastest-growing CAGR in the Asia Pacific region during the forecast period. The process automation and instrumentation market is expanding significantly due to industrial companies' increased focus on cost reduction and improved efficiency. The process automation and instrumentation industry is expanding due to increased productivity and reduced mistake rates. The post by Gesrepair claims that manufacturing companies worldwide are investing in modern manufacturing technologies and making wise decisions to enhance their production process. Hence, the process automation and instrumentation market is expanding as industrial companies emphasize attaining cost savings and greater efficiency.

Process Automation and Instrumentation Key Market Players & Competitive Insights

The major market players are increasing their investments in their research and development departments to increase their product portfolios. They also focus on introducing various market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations to widen their consumer base. Studies indicate that the Process Automation and Instrumentation industry is expected to decrease prices to appeal to a wider consumer base.

One of the primary business strategies manufacturers adopt in the Process Automation and Instrumentation industry is to introduce regional and local manufacturing to keep their prices at a moderate pace. The Process Automation and Instrumentation market major player such as ABB Ltd (Switzerland), General Electric Co. (U.S), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S), Emerson Electric Co. (U.S), and others are working to expand the market demand by investing in research and development activities.

Swedish-Swiss multinational company ABB Ltd. has its headquarters in Zรผrich, Switzerland. Allmรคnna Svenska Elektriska Aktiebolaget (ASEA) of Sweden and Brown, Boveri & Cie of Switzerland combined in 1988 to establish ASEA Brown Boveri, which was eventually abbreviated to ABB. Both businesses were founded in the late 1800s and produced significant electrical equipment; ABB is still involved in this industry today. Since then, the business has also branched into robotics and automation technology. It has been a Fortune 500 company for 24 years and is currently rated 341 on the Fortune 500 list of 2018. ABB was the largest industrial employer in Switzerland up to the sale of its Power Grids segment in 2020.

The General Electric Company (GE) is a worldwide business headquartered in Boston and was established in the United States in 1892. The business engages in venture capital and finance as well as aviation, power, renewable energy, the digital sector, and additive manufacturing. According to gross revenue, GE was the 33rd-largest company in the United States according to the Fortune 500 in 2020. GE was the 14th most profitable business in the Fortune 20 in 2011, but when its profitability declined, it significantly underperformed the market (by nearly 75%). Irving Langmuir (1932) and Ivar Giaever (1973), both GE employees, were given the Nobel Prize. The business intended to split into three investment-grade public entities on November 9, 2021.

Key Companies in the Process Automation and Instrumentation market includes

    • General Electric Co. (U.S)

    • Mitsubishi Electric Corporation (Japan)

    • Rockwell Automation Inc. (U.S)

    • Emerson Electric Co. (U.S)

    • Siemens AG (Germany)

    • Yokogawa Electric Corporation (Japan)

    • Metso Corporation (Finland)

    • Schnieder Electric SE (France), among others

Process Automation Instrumentation Industry Developments

  • Q2 2024: ABB to acquire Siemensโ€™ low voltage NEMA motor business ABB announced the acquisition of Siemensโ€™ low voltage NEMA motor business, expanding its automation and instrumentation portfolio for industrial process customers. The deal is expected to strengthen ABBโ€™s position in the North American market.
  • Q2 2024: Rockwell Automation Completes Acquisition of Clearpath Robotics Rockwell Automation completed its acquisition of Clearpath Robotics, a developer of autonomous mobile robots, to enhance its process automation solutions for manufacturing and industrial customers.
  • Q2 2024: Emerson Announces New DeltaV Automation Platform Release Emerson launched a new version of its DeltaV automation platform, featuring advanced process control and instrumentation capabilities aimed at improving operational efficiency in process industries.
  • Q1 2024: Honeywell Launches Experion PKS Release 520 for Process Automation Honeywell introduced Experion PKS Release 520, an updated process automation system with enhanced cybersecurity and digital integration features for industrial customers.
  • Q2 2024: Schneider Electric to open new smart manufacturing facility in India Schneider Electric announced the opening of a new smart manufacturing facility in India, focused on producing process automation and instrumentation solutions for global markets.
  • Q1 2024: Yokogawa and JSR Corporation to Jointly Develop AI-based Process Control System Yokogawa Electric Corporation and JSR Corporation announced a partnership to jointly develop an AI-based process control system for chemical manufacturing, aiming to improve automation and efficiency.
  • Q2 2024: Siemens and NVIDIA Announce Partnership to Advance Industrial Automation Siemens and NVIDIA announced a strategic partnership to integrate NVIDIAโ€™s AI technology into Siemensโ€™ process automation platforms, targeting enhanced real-time data analytics and process optimization.
  • Q1 2024: ABB wins $120 million automation contract for Middle East oil refinery ABB secured a $120 million contract to provide process automation and instrumentation systems for a major oil refinery project in the Middle East.
  • Q2 2024: Emerson Acquires Fluxa to Expand Life Sciences Automation Portfolio Emerson acquired Fluxa, a provider of process knowledge management software, to strengthen its automation and instrumentation offerings for the life sciences sector.
  • Q1 2024: Rockwell Automation and Microsoft Expand Partnership to Accelerate Industrial Automation Innovation Rockwell Automation and Microsoft expanded their partnership to co-develop cloud-based process automation solutions, leveraging Microsoft Azure for industrial customers.
  • Q2 2024: Honeywell to acquire Compressor Controls Corporation for $670 million Honeywell announced the acquisition of Compressor Controls Corporation, a provider of turbomachinery control and optimization solutions, to enhance its process automation portfolio.
  • Q1 2024: Schneider Electric Launches EcoStruxure Automation Expert 23.0 Schneider Electric launched EcoStruxure Automation Expert 23.0, a new version of its universal automation system designed to improve flexibility and efficiency in process industries.

Process Automation and Instrumentation Market Segmentation:

Process Automation and Instrumentation Instrument Outlook

    • Field Instrument

    • Control Valve and Analyzer

Process Automation and Instrumentation Solution Outlook

    • APC

    • DCS

    • HMI

    • MES

    • PLC

    • Safety automation & SCADA

Process Automation and Instrumentation End-User Outlook

    • Chemicals

    • Energy & Power

    • Food & Beverages

Process Automation and Instrumentation Regional Outlook

    • North America

      • US

      • Canada

    • Europe

      • Germany

      • France

      • UK

      • Italy

      • Spain

      • Rest of Europe

    • Asia-Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

      • Australia

      • Rest of Asia-Pacific

    • Rest of the World

      • Middle East

      • Africa

      • Latin America

Report Attribute/Metric Details
Market Size 2023 USD 4.0 billion
Market Size 2024 USD 4.2 billion
Market Size 2032 USD 6.6 billion
Compound Annual Growth Rate (CAGR) 5.7% (2024-2030)
Base Year 2023
Market Forecast Period 2024-2032
Historical Data 2019 - 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Instrument, Solution, End-User, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled ABB Ltd (Switzerland), General Electric Co. (U.S), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S), Emerson Electric Co. (U.S), Simens AG (Germany), Yokogawa Electric Corporation (Japan), Metso Corporation (Finland), and Schnieder Electric SE (France)
Key Market Opportunities Growing Opportunities in Industry 4.0
Key Market Dynamics Rising Focus of Manufacturing Firms Towards Achieving Better Costs Increasing Focus on Energy Efficiency


Frequently Asked Questions (FAQ):

The Process Automation and Instrumentation market size was valued at USD 4.0 Billion in 2023.

The market is projected to grow at a CAGR of 5.7% from 2024 to 2032.

North America had the largest share in the market

The key players in the market are ABB Ltd (Switzerland), General Electric Co. (U.S), Mitsubishi Electric Corporation (Japan), Rockwell Automation Inc. (U.S), and Emerson Electric Co. (U.S), among others.

The PLC segment for Automation and Instrumentation category dominated the market in 2023.

Energy & power had the largest share in the market.

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