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Increased adoption of IoT in midstream oil and gas operations will be one of the key trends in the oil and gas pipeline and transportation automation market during 2022-2026
NEW YORK, June 7, 2022 /PRNewswire/ — Oil and gas pipeline and transportation automation comprise automation solutions that help in optimizing pipeline and transportation operations through the efficient control of various processes without any human intervention. Technavio categorizes the global oil and gas pipeline and transportation automation market as a part of the global industrial machinery market.
In this report, Technavio defines 2021 as the base year and 2022-2026 as the forecast period. The size of the global oil and gas pipeline and transportation automation market is anticipated to grow by USD 960.46 million from 2021 to 2026. Moreover, the growth momentum of the market will accelerate at a CAGR of 2.18% during the forecast period. Our report describes in detail the various factors that are responsible for the market growth and the growth momentum.
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What are the Some of the Topics Covered in this Report?
- Overview of the Market
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Factors Impacting Market Growth
- Vendor Analysis
What are the Various Segments Covered in this Report?
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Segmentation |
Segments |
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Application |
Pipeline and LNG and terminal |
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Geography |
APAC, North America, Europe, Middle East and Africa, and South America |
What are the Factors Driving the Growth of the Oil and Gas Pipeline and Transportation Automation Market?
The growth of the oil and gas pipeline and transportation automation market will be driven by the expansion of oil terminals. The increase in demand for energy has led to a rise in the construction of new terminals and pipeline. The new oil and gas exploration and production activities, along with improved and efficient pipelines for oil and gas transportation, will drive the growth of the market during the forecast period.
What are the Trends Supporting the Growth of the Oil and Gas Pipeline and Transportation Automation Market?
Increased adoption of IoT in midstream oil and gas operations is a key trend that will support the oil and gas pipeline and transportation automation market. The integration of different oil and gas pipelines and transportation automation systems such as SCADA and PLC reduces operational and maintenance costs. The rising awareness regarding virtual software and flexibility in operating automation software is expected to influence the market growth in the coming years.
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Which are the Major Vendors Operating in the Oil and Gas Pipeline and Transportation Automation Market?
According to Technavio, the major vendors operating in the oil and gas pipeline and transportation automation market include ABB Ltd., Eaton Corporation Plc, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc. , Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. among others.
Is the Market Fragmented or Concentrated?
The oil and gas pipeline and transportation automation market is fragmentedand the vendors are deploying growth strategies such as investments in R&D to compete in the market. The market requires high initial investments and significant R&D expenses for equipment and software innovation. As a result, it is difficult for new entrants to thrive in the global oil and gas pipeline and transportation automation market.
Does Technavio Provide Any Subscription Offers?
Technavio provides two subscription offers, a Basic Plan billed annually at USD 5000 and a Team Plan billed annually at USD 8500. Choose any offer that is the most suitable for you and make use of the vast repository of reports offered by Technavio to improve your business!
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Oil and Gas Pipeline and Transportation Automation Market Scope |
|
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.18% |
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Market growth 2022-2026 |
USD 960.46 million |
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Market structure |
Fragmented |
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YoY growth (%) |
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Full story available on Benzinga.com
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