Process Automation and Instrumentation Market Size was valued at USD 66.42 billion in 2022 and is expected to reach USD 102.71 billion by 2030, and grow at a CAGR of 5.6% over the forecast period 2023-2030.
Process Automation and Instrumentation are called the transformation of human thoughts into a technical and computer model. Self-learning of technological advances that uses touch and patterns to make the human mind think. The automation and utilization process has become very important in modern industry and planning as it provides real-time information that is also used to improve operations.
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KEY DRIVERS
Increasing manufacturing firms on achieving cost saving and better efficiency.
Increased IoT use in industrial sectors, strict compliances, and regulations to improve production efficiency.
RESTRAINTS
Huge execution and maintenance cost.
High investments required for development of devise and solutions.
OPPORTUNITIES
Increasing industry 4.0 manufacturing firms.
CHALLENGES
Lack of skilled employees to operate sophisticated automation systems.
COVID-19 has had a severe impact on the global economy as well as all industries. To stop the plague from spreading, governments in several countries have established borders. The initial phase of the epidemic's global shutdown in many countries has had a significant influence on people's lives and quality of life. As a result, the global supply chain has been shattered. The global economy has shrunk as commodity demand has decreased considerably. Due to the outbreak, which has caused a lack of immature materials, production in all industries has been slowed. Productivity declines are caused by variables such as depreciation and supply chain disruption.
The COVID-19 epidemic has reduced various opportunities in the process automation and instrumentation industry. The epidemic has created a supply chain disruption that has had a profound effect on demand, production, and investment in the industry. Technology is in the Infant’s stage, which is why it requires a lot of investment in research and development; however, the epidemic has contributed to ROI in many investments, hence, shareholders have been careful to spend big money in many sectors.
By Instrument, the Process Automation and Instrumentation Market are sub divided into, Field Instruments, Control Valve and Process Analyzers. Among this field instruments dominated the Process Automation and Instrumentation Market. The field instruments help to manage plant assets, improve plant safety, and improve overall production processes through data acquisition, control, and measurement. It is necessary to obtain important information about major parameters, including temperature, pressure, and level, to monitor and control processes quickly, efficiently, safely, and accurately, and to achieve high productivity. These tools play an important role in measuring and controlling process parameters in process Industry. Regular production of products developed to automate industrial processes automatically and balancing and controlling the various process parameters is expected to further the process automation and instrumentation market.
BY INSTRUMENT
Field Instruments
Control Valve
Process Analyzers
BY SOLUTION
PLC
SCADA
APC
MES
DCS
HMI
Functional Safety
BY INDUSTRY
Oil & Gas
Pulp & Paper
Metals & Mining
Energy & Power
Chemicals
Pharmaceuticals
Food & Beverages
Water & Wastewater Treatment
Others
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By region, the industry is analyzed by regions in North America, Europe, Asia Pacific, and others. In the above regions, it is estimated that North America will occupy a much higher market share due to higher technological advances, mature industries, and increased government investment in certain areas such as petrochemicals. The Asia Pacific region will be the second largest contributor to the growth of the process automation and instrument markets. As many countries are oil refineries that will require flexible and efficient processes. European countries witnessing to strict environmental and industrial laws that will help advance the process of automation and metal growth. The whole world will also witness the same growth rate due to various factors such as efficiency.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The key players in the Process Automation and Instrumentation Market are ABB, General Electric Company, Mitsubishi Electric Corporation, Simens AG, Metso Corporation, Emerson Electric, Schneider Electric, Rockwell Automation, Yokogawa Electric Corporation, Schnieder Electric and Other.
Simens AG-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 66.42 Billion |
| Market Size by 2030 | US$ 102.71 Billion |
| CAGR | CAGR of 5.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Instrument (Field Instruments, Control Valve, Process Analyzers) • By Solution (PLC, SCADA, APC, MES, DCS, HMI, Functional Safety) • By Industry (Oil & Gas, Pulp & Paper, Metals & Mining, Energy & Power, Chemicals, Pharmaceuticals, Food & Beverages, Water & Wastewater Treatment, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | ABB, General Electric Company, Mitsubishi Electric Corporation, Simens AG, Metso Corporation, Emerson Electric, Schneider Electric, Rockwell Automation, Yokogawa Electric Corporation, Schnieder Electric and Other. |
| Key Drivers | • Increasing manufacturing firms on achieving cost saving and better efficiency. |
| Restraints | • Huge execution and maintenance cost. • High investments required for development of devise and solutions. |
The market value will be expected to reach USD 92.2 billion by 2028, and grow at a CAGR of 5.6% over the forecast period 2022-2028.
Huge execution and maintenance cost and High investments required for development of devise and solutions are the factors limiting the Process Automation and Instrumentation Market's expansion.
The COVID-19 epidemic has reduced various opportunities in the process automation and instrumentation industry. The epidemic has created a supply chain disruption that has had a profound effect on demand, production, and investment in the industry.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Process Automation and Instrumentation Market Segmentation, by instrument
8.1Introduction
8.2 Field Instruments
8.3 Control Valve
8.4 Process Analyzers
9. Process Automation and Instrumentation Market Segmentation, by solution
9.1 Introduction
9.2 PLC
9.3 SCADA
9.4 APC
9.5 MES
9.6 DCS
9.7 HMI
9.8 Functional Safety
10. Process Automation and Instrumentation Market Segmentation, by Industry
10.1 Introduction
10.2 Oil & Gas
10.3 Pulp & Paper
10.4 Metals & Mining
10.5 Energy & Power
10.6 Chemicals
10.7 Pharmaceuticals
10.8 Food & Beverages
10.9 Water & Wastewater Treatment
10.10 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12 Company Profiles
12.1 General Electric Company
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 ABB
12.3 Mitsubishi Electric Corporation
12.4 Simens AG
12.5 Metso Corporation
12.6 Emerson Electric
12.7 Schneider Electric
12.8 Rockwell Automation
12.9 Yokogawa Electric Corporation
12.10 Schnieder Electric
12.11 Other
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
14 Conclusion
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