Industrial Automation Oil And Gas
Industrial Automation Oil & Gas Market Forecasts to 2030 - Global Analysis By Process (Upstream, Midstream and Downstream), Component, Technology, Application, End User and By Geography
According to Stratistics MRC, the Global Industrial Automation Oil & Gas Market is accounted for $19.3 billion in 2024 and is expected to reach $28.4 billion by 2030 growing at a CAGR of 6.7% during the forecast period. Industrial automation in the oil and gas sector is the use of advanced technologies to enhance efficiency, safety, and reliability in extraction, processing, and distribution processes. This involves the integration of control systems, sensors, and software to monitor operations, manage equipment, and optimize resource usage. By automating routine tasks and real-time data analysis, companies can reduce human error, lower operational costs, and improve overall productivity, ensuring a more sustainable and effective approach to managing oil and gas resources.
According to EIA, in 2021, the U.S. shipped petroleum to 176 nations and 4 U.S. territories at a rate of around 8.54 million b/d. About 2.96 million barrels per day (b/d) of crude oil made up 35% of all gross petroleum exports from the United States in 2021.
Market Dynamics:
Driver:
Growing demand for operational efficiency
The growing demand for operational efficiency in the oil and gas industry is driving advancements in industrial automation. Companies are increasingly adopting automated systems to streamline processes, enhance productivity, and reduce costs. This shift not only optimizes resource management but also improves safety and environmental compliance. As competition intensifies and global energy needs rise, the focus on automation becomes crucial for achieving sustainable growth and maintaining a competitive edge in the market.
Restraint:
Lack of skilled workforce
The lack of a skilled workforce in the industrial automation sector of oil and gas can severely hinder operational efficiency and innovation. Insufficient expertise may lead to increased downtime, suboptimal system performance, and heightened safety risks. Without qualified personnel to manage and maintain advanced automation technologies, companies may struggle to implement effective solutions, resulting in higher costs and reduced competitiveness. This skills gap ultimately impedes the industry's ability to adapt and thrive in a rapidly evolving landscape.
Opportunity:
Increased exploration activities
Increased exploration activities in the oil and gas sector are significantly fueling the demand for industrial automation. As companies seek to access new reserves and enhance extraction efficiency, automated technologies play a vital role. Advanced tools and systems facilitate real-time monitoring, data analysis, and predictive maintenance, enabling organizations to navigate challenging environments effectively. This push for innovation not only maximizes output but also ensures safer and more environmentally responsible exploration practices.
Threat:
Shift towards renewable energy
The shift towards renewable energy can negatively impact the industrial automation sector in oil and gas by reducing investment in traditional fossil fuel operations. This decline may result in decreased demand for automation technologies, leading to stagnation in innovation and job losses. As companies pivot to renewables, they might neglect the development and maintenance of existing infrastructure, ultimately compromising operational efficiency and safety in oil and gas production while navigating a complex transition.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the market, disrupting supply chains and delaying projects. Many companies faced reduced workforce availability and operational constraints, which hindered automation initiatives. Conversely, the crisis accelerated the adoption of remote monitoring and automation technologies, as businesses sought to enhance safety and efficiency. This dual effect highlighted the industry's need for resilience and adaptability, shaping future strategies in a post-pandemic landscape.
The internet of things segment is projected to be the largest during the forecast period
The internet of things segment is projected to account for the largest market share during the projection period. This technology enhances operational efficiency, predictive maintenance, and resource management, allowing companies to monitor equipment and processes remotely. IoT applications improve decision-making and safety while reducing costs, driving innovation and sustainability in the industry as companies leverage data-driven insights for optimized performance.
The service providers segment is expected to have the highest CAGR during the forecast period
The service providers segment is expected to have the highest CAGR during the extrapolated period. They help companies implement advanced automation technologies, optimize processes, and ensure compliance with safety regulations. By delivering tailored solutions, these providers enhance operational efficiency and reduce downtime. Their continuous innovation and technical support enable oil and gas firms to adapt to evolving industry demands and leverage automation for sustainable growth.
Region with largest share:
North America region is projected to account for the largest market share during the forecast period driven by the need for enhanced operational efficiency. Major players are investing in automation solutions to optimize extraction, processing, and distribution processes. The region's focus on safety and environmental compliance further propels the adoption of advanced technologies. As energy demands rise, the region remains a critical hub for innovation and investment in industrial automation within the oil and gas sector.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period driven by increasing demand for efficiency, safety, and reliability in oil and gas operations. This growth is largely attributed to advancements in digital technologieswhich enhance operational efficiency and safety across various processes such as drilling, production, and logistics. The integration of advanced analytics and cloud-based solutions is also pivotal for optimizing operations and reducing environmental impacts in the sector.
Key players in the market
Some of the key players in Industrial Automation Oil & Gas market include Emerson Electric, General Electric, Rockwell Automation, Honeywell International, Teradyne, PakEnergy, Eaton Company, ABB, Schneider Electric, Siemens AG, Cognite, Mitsubishi Electric Corp., Yokogawa Electric, Aveva Group and Baker Hughes.
Key Developments:
In September 2024, Honeywell announced the completion of its acquisition of Air Products' liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction. This further expands the comprehensive suite of top-tier solutions Honeywell offers its customers for managing their energy transformation journey.
In May 2024, Honeywell and Weatherford announced a partnership to deliver a comprehensive emissions management solution for the energy industry. The agreement combines Honeywell's emissions management suite with Weatherford's Cygnet SCADA platform, providing customers with a powerful tool to monitor, report, and take measures to help reduce greenhouse gas emissions.
Processes Covered:
• Upstream
• Midstream
• Downstream
Components Covered:
• Hardware
• Software
• Services
Technologies Covered:
• Internet of Things
• AI and Machine Learning
• Cloud Computing
Applications Covered:
• Process Automation
• Discrete Automation
• Safety and Security Systems
• Other Applications
End Users Covered:
• National Oil Companies (NOCs)
• International Oil Companies (IOCs)
• Service Providers
• Equipment Manufacturers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Industrial Automation Oil & Gas Market, By Process
5.1 Introduction
5.2 Upstream
5.3 Midstream
5.4 Downstream
6 Global Industrial Automation Oil & Gas Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Sensors
6.2.2 Controllers
6.2.3 Actuators
6.2.4 Robotics
6.3 Software
6.3.1 Supervisory Control and Data Acquisition (SCADA)
6.3.2 Automation Software
6.3.3 Analytics and Data Management Software
6.4 Services
6.4.1 Integration Services
6.4.2 Maintenance and Support
6.4.3 Consulting Services
7 Global Industrial Automation Oil & Gas Market, By Technology
7.1 Introduction
7.2 Internet of Things
7.3 AI and Machine Learning
7.4 Cloud Computing
8 Global Industrial Automation Oil & Gas Market, By Application
8.1 Introduction
8.2 Process Automation
8.3 Discrete Automation
8.4 Safety and Security Systems
8.5 Other Applications
9 Global Industrial Automation Oil & Gas Market, By End User
9.1 Introduction
9.2 National Oil Companies (NOCs)
9.3 International Oil Companies (IOCs)
9.4 Service Providers
9.5 Equipment Manufacturers
9.6 Other End Users
10 Global Industrial Automation Oil & Gas Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Emerson Electric
12.2 General Electric
12.3 Rockwell Automation
12.4 Honeywell International
12.5 Teradyne
12.6 PakEnergy
12.7 Eaton Company
12.8 ABB
12.9 Schneider Electric
12.10 Siemens AG
12.11 Cognite
12.12 Mitsubishi Electric Corp.
12.13 Yokogawa Electric
12.14 Aveva Group
12.15 Baker Hughes
List of Tables
1 Global Industrial Automation Oil & Gas Market Outlook, By Region (2022-2030) ($MN)
2 Global Industrial Automation Oil & Gas Market Outlook, By Process (2022-2030) ($MN)
3 Global Industrial Automation Oil & Gas Market Outlook, By Upstream (2022-2030) ($MN)
4 Global Industrial Automation Oil & Gas Market Outlook, By Midstream (2022-2030) ($MN)
5 Global Industrial Automation Oil & Gas Market Outlook, By Downstream (2022-2030) ($MN)
6 Global Industrial Automation Oil & Gas Market Outlook, By Component (2022-2030) ($MN)
7 Global Industrial Automation Oil & Gas Market Outlook, By Hardware (2022-2030) ($MN)
8 Global Industrial Automation Oil & Gas Market Outlook, By Sensors (2022-2030) ($MN)
9 Global Industrial Automation Oil & Gas Market Outlook, By Controllers (2022-2030) ($MN)
10 Global Industrial Automation Oil & Gas Market Outlook, By Actuators (2022-2030) ($MN)
11 Global Industrial Automation Oil & Gas Market Outlook, By Robotics (2022-2030) ($MN)
12 Global Industrial Automation Oil & Gas Market Outlook, By Software (2022-2030) ($MN)
13 Global Industrial Automation Oil & Gas Market Outlook, By Supervisory Control and Data Acquisition (SCADA) (2022-2030) ($MN)
14 Global Industrial Automation Oil & Gas Market Outlook, By Automation Software (2022-2030) ($MN)
15 Global Industrial Automation Oil & Gas Market Outlook, By Analytics and Data Management Software (2022-2030) ($MN)
16 Global Industrial Automation Oil & Gas Market Outlook, By Services (2022-2030) ($MN)
17 Global Industrial Automation Oil & Gas Market Outlook, By Integration Services (2022-2030) ($MN)
18 Global Industrial Automation Oil & Gas Market Outlook, By Maintenance and Support (2022-2030) ($MN)
19 Global Industrial Automation Oil & Gas Market Outlook, By Consulting Services (2022-2030) ($MN)
20 Global Industrial Automation Oil & Gas Market Outlook, By Technology (2022-2030) ($MN)
21 Global Industrial Automation Oil & Gas Market Outlook, By Internet of Things (2022-2030) ($MN)
22 Global Industrial Automation Oil & Gas Market Outlook, By AI and Machine Learning (2022-2030) ($MN)
23 Global Industrial Automation Oil & Gas Market Outlook, By Cloud Computing (2022-2030) ($MN)
24 Global Industrial Automation Oil & Gas Market Outlook, By Application (2022-2030) ($MN)
25 Global Industrial Automation Oil & Gas Market Outlook, By Process Automation (2022-2030) ($MN)
26 Global Industrial Automation Oil & Gas Market Outlook, By Discrete Automation (2022-2030) ($MN)
27 Global Industrial Automation Oil & Gas Market Outlook, By Safety and Security Systems (2022-2030) ($MN)
28 Global Industrial Automation Oil & Gas Market Outlook, By Other Applications (2022-2030) ($MN)
29 Global Industrial Automation Oil & Gas Market Outlook, By End User (2022-2030) ($MN)
30 Global Industrial Automation Oil & Gas Market Outlook, By National Oil Companies (NOCs) (2022-2030) ($MN)
31 Global Industrial Automation Oil & Gas Market Outlook, By International Oil Companies (IOCs) (2022-2030) ($MN)
32 Global Industrial Automation Oil & Gas Market Outlook, By Service Providers (2022-2030) ($MN)
33 Global Industrial Automation Oil & Gas Market Outlook, By Equipment Manufacturers (2022-2030) ($MN)
34 Global Industrial Automation Oil & Gas Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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