Process Automation And Instrumentation Market
PUBLISHED: 2023 ID: SMRC22798
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Process Automation And Instrumentation Market

Process Automation and Instrumentation Market Forecasts to 2028 - Global Analysis By Instrument Type (Transmitters, Flow Meters, Analyzers, Controllers, Switches, Field Instruments, Vacuum Instruments, Recorders and Other Instrument Types), Solution, End User and By Geography

4.2 (15 reviews)
4.2 (15 reviews)
Published: 2023 ID: SMRC22798

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $66.26 BN

Projected Year Value (2028)

US $91.36 BN

CAGR (2022 - 2028)

5.49%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Process Automation and Instrumentation Market is accounted for $66.26 billion in 2022 and is expected to reach $91.36 billion by 2028 growing at a CAGR of 5.49% during the forecast period. Process automation serves as the tool by which any process may be made automatic through the approach of process automation. Process automation and instrumentation adoption enables companies to do difficult tasks more quickly and efficiently, save labor costs, increase workplace safety, and boost overall output. Process automation and instrumentation are turning human cognition into a technological model that can be programmed. Modern businesses and industries now place a great deal of weight on it since it provides real-time perspectives that are then used to optimize operations.

According to the Association for Advancing Automation (A3), during the period January to September 2022, North American companies purchased 35,804 units of industrial robots, valued at USD 1.875 billion, up 24% for ordered units and 27% for revenue over the same period in 2021.



Market Dynamics:

Driver:

Increasing focus on enhancing effectiveness

Industries all over the globe are focusing more on increasing production efficiency and reducing operating costs in order to thrive in the fast changing global industrial environment. Process automation makes end-use industries run more effectively and securely. Pressure, temperature, level and humidity are few of the process factors that may be measured and analyzed with the use of instrumentation equipment. They make it possible for industrial businesses to increase profits and save costs. They are using process automation and instrumentation technologies as a consequence which is fuelling the market demand.

Restraint:

High cost of research and development

The main challenges impeding the growth of the process automation and instrumentation market are the high investment costs associated with the research and development of automation services as well as the deployment and administration of these systems. Because small and medium-sized businesses have limited resources for setting up and maintaining automation services, these procedures have a relatively low penetration rate among these businesses.

Opportunity:

Growing adoption of industry 4.0

With the introduction of Industry 4.0, the majority of manufacturing industry processes and systems are automated utilizing a range of technologies, including cyber-physical systems, IoT, and cloud computing, enabling production units to run effectively around-the-clock with no human error. It assists in reducing manufacturing cycle times and achieving process efficiency from the sourcing of raw materials through the creation of the finished product. Market participants might anticipate attractive prospects as a result of its acceptance.

Threat:

Shortage of skilled personnel

Process automation and instrumentation systems require trained personnel to operate due to the complexity of the processes, which can be misunderstood and may result in mistakes and defects if handled by an unskilled staff. A skilled staff can forecast results, improve processes, avoid failures, create new products, and use sophisticated analytics skills. Hence, the lack of experienced workers presents difficulties for companies that produce process automation and instrumentation.

Covid-19 Impact

The vast majority of the worldwide industrial sectors have been significantly impacted by the COVID-19 epidemic. Similar to other markets, the worldwide process automation and instrumentation industry is competitive. Many prospects for process automation and instrumentation have lately decreased due to the worldwide health crisis. Disruptions in the supply chain caused by the pandemic have had a negative impact on demand, investment, and output in the sector.

The field instruments segment is expected to be the largest during the forecast period

The field instruments segment is estimated to have a lucrative growth, due to its controlling process parameters. Field instruments use data collection, control, and measurement to help manage plant assets, improve plant safety, and optimize overall production operations. It helps to monitor and regulate operations quickly, easily, safely, and correctly. It achieves maximum productivity by gathering important information about critical parameters such as temperature, pressure, and level.

The advanced process control (APC) segment is expected to have the highest CAGR during the forecast period

The advanced process control (APC) segment is anticipated to witness the fastest CAGR growth during the forecast period, due to its control techniques. Advanced Process Control (APC) is a supervisory control solution that communicates with installed level one distributed control system (DCS) controllers. It includes model-based software that is used to direct the process operation. It has several proven advanced control techniques, such as feed forward, decoupling, and inferential control which are fuelling the segment demand.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the rapid growth and expansion of various end user verticals. Due to the region's expanding population, the oil and gas and food and beverage sectors are seeing an increase in demand for process automation and instrumentation solutions. The market share is being driven by the expansion of numerous industries in this area.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to the availability of cheap labor in these countries. Further, this region needs a significant financial expenditure to incorporate process automation. The market expansion is being accelerated by rising investments in clean energy infrastructure in Asia Pacific to fulfill the region's rising power demand and reduce dependency on fossil fuels for energy production.



Key players in the market

Some of the key players profiled in the Process Automation and Instrumentation Market include Emerson Electric Company, Rockwell Automation Inc., Siemens AG, Yokogawa Electric Corporation, Pepper Fuchs GmbH., Hitachi Ltd, Delta Electronics, Koyo Electronics Industries Co., Ltd., Honeywell International Inc., ABB Limited, Mitsubishi Electric Company, General Electric Company, Fuji Electric, Eaton Corporation, Metso Corporation, Omron Corporation and Danaher Corporation.

Key Developments:

In March 2023, Honeywell announced the launch of its premium range of wiring devices, Blenze Pro for the Indian market. Blenze Pro range is specifically designed to meet the high-end wiring requirements by architects, interior designers, builders and developers for residential, commercial and hospitality buildings.

In September 2022, Mitsubishi Electric India launched the all-new M800V and M80V series CNCs with solutions that it claims could revolutionise smart manufacturing in India. The company supplies CNC packages and technologies to various market segments and industries.

In May 2022, Eaton announced the launch of the first Supply Chain digital incubation lab in Pune, India. The lab will be set up at the Eaton’s office in the Pimpri Chinchwad area. It will provide best-in-class facility for ideation and collaboration with platforms and devices to showcase proof of concepts.

Instrument Types Covered:
• Transmitters
• Flow Meters
• Analyzers
• Controllers
• Switches
• Field Instruments
• Vacuum Instruments
• Recorders
• Other Instrument Types

Solutions Covered:
• Distributed Control System (DCS)
• Advanced Process Control (APC)
• Manufacturing Execution System (MES)
• Programmable Logic Controller (PLC)
• Supervisory Control & Data Acquisition (SCADA)
• Human Machine Interaction (HMI)
• Safety Automation
• Other Solutions

End Users Covered:
• Oil & Gas
• Chemical & Petrochemical
• Food & Beverage
• Pharmaceutical & Biopharma
• Pulp & Paper
• Metal & Mining
• Wastewater Treatment
• Energy & Power
• 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 2020, 2021, 2022, 2025, and 2028
- 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 End User Analysis
3.7 Emerging Markets
3.8 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 Process Automation and Instrumentation Market, By Instrument Type
5.1 Introduction
5.2 Transmitters
5.3 Flow Meters
5.4 Analyzers
5.5 Controllers
5.6 Switches
5.7 Field Instruments
5.8 Vacuum Instruments
5.9 Recorders
5.10 Other Instrument Types

6 Global Process Automation and Instrumentation Market, By Solution
6.1 Introduction
6.2 Distributed Control System (DCS)
6.3 Advanced Process Control (APC)
6.4 Manufacturing Execution System (MES)
6.5 Programmable Logic Controller (PLC)
6.6 Supervisory Control & Data Acquisition (SCADA)
6.7 Human Machine Interaction (HMI)
6.8 Safety Automation
6.9 Other Solutions

7 Global Process Automation and Instrumentation Market, By End User
7.1 Introduction
7.2 Oil & Gas
7.3 Chemical & Petrochemical
7.4 Food & Beverage
7.5 Pharmaceutical & Biopharma
7.6 Pulp & Paper
7.7 Metal & Mining
7.8 Wastewater Treatment
7.9 Energy & Power
7.10 Other End Users

8 Global Process Automation and Instrumentation Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa

9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies

10 Company Profiling
10.1 Emerson Electric Company
10.2 Rockwell Automation Inc.
10.3 Siemens AG
10.4 Yokogawa Electric Corporation
10.5 Pepper Fuchs GmbH.
10.6 Hitachi Ltd
10.7 Delta Electronics
10.8 Koyo Electronics Industries Co., Ltd.
10.9 Honeywell International Inc.
10.10 ABB Limited
10.11 Mitsubishi Electric Company
10.12 General Electric Company
10.13 Fuji Electric
10.14 Eaton Corporation
10.15 Metso Corporation
10.16 Omron Corporation
10.17 Danaher Corporation

List of Tables
1 Global Process Automation and Instrumentation Market Outlook, By Region (2020-2028) ($MN)
2 Global Process Automation and Instrumentation Market Outlook, By Instrument Type (2020-2028) ($MN) (2020-2028) ($MN)
3 Global Process Automation and Instrumentation Market Outlook, By Transmitters (2020-2028) ($MN) (2020-2028) ($MN)
4 Global Process Automation and Instrumentation Market Outlook, By Flow Meters (2020-2028) ($MN) (2020-2028) ($MN)
5 Global Process Automation and Instrumentation Market Outlook, By Analyzers (2020-2028) ($MN) (2020-2028) ($MN)
6 Global Process Automation and Instrumentation Market Outlook, By Controllers (2020-2028) ($MN) (2020-2028) ($MN)
7 Global Process Automation and Instrumentation Market Outlook, By Switches (2020-2028) ($MN) (2020-2028) ($MN)
8 Global Process Automation and Instrumentation Market Outlook, By Field Instruments (2020-2028) ($MN) (2020-2028) ($MN)
9 Global Process Automation and Instrumentation Market Outlook, By Vacuum Instruments (2020-2028) ($MN) (2020-2028) ($MN)
10 Global Process Automation and Instrumentation Market Outlook, By Recorders (2020-2028) ($MN) (2020-2028) ($MN)
11 Global Process Automation and Instrumentation Market Outlook, By Other Instrument Types (2020-2028) ($MN) (2020-2028) ($MN)
12 Global Process Automation and Instrumentation Market Outlook, By Solution (2020-2028) ($MN) (2020-2028) ($MN)
13 Global Process Automation and Instrumentation Market Outlook, By Distributed Control System (DCS) (2020-2028) ($MN) (2020-2028) ($MN)
14 Global Process Automation and Instrumentation Market Outlook, By Advanced Process Control (APC) (2020-2028) ($MN) (2020-2028) ($MN)
15 Global Process Automation and Instrumentation Market Outlook, By Manufacturing Execution System (MES) (2020-2028) ($MN) (2020-2028) ($MN)
16 Global Process Automation and Instrumentation Market Outlook, By Programmable Logic Controller (PLC) (2020-2028) ($MN) (2020-2028) ($MN)
17 Global Process Automation and Instrumentation Market Outlook, By Supervisory Control & Data Acquisition (SCADA) (2020-2028) ($MN) (2020-2028) ($MN)
18 Global Process Automation and Instrumentation Market Outlook, By Human Machine Interaction (HMI) (2020-2028) ($MN) (2020-2028) ($MN)
19 Global Process Automation and Instrumentation Market Outlook, By Safety Automation (2020-2028) ($MN) (2020-2028) ($MN)
20 Global Process Automation and Instrumentation Market Outlook, By Other Solutions (2020-2028) ($MN) (2020-2028) ($MN)
21 Global Process Automation and Instrumentation Market Outlook, By End User (2020-2028) ($MN) (2020-2028) ($MN)
22 Global Process Automation and Instrumentation Market Outlook, By Oil & Gas (2020-2028) ($MN) (2020-2028) ($MN)
23 Global Process Automation and Instrumentation Market Outlook, By Chemical & Petrochemical (2020-2028) ($MN) (2020-2028) ($MN)
24 Global Process Automation and Instrumentation Market Outlook, By Food & Beverage (2020-2028) ($MN) (2020-2028) ($MN)
25 Global Process Automation and Instrumentation Market Outlook, By Pharmaceutical & Biopharma (2020-2028) ($MN) (2020-2028) ($MN)
26 Global Process Automation and Instrumentation Market Outlook, By Pulp & Paper (2020-2028) ($MN) (2020-2028) ($MN)
27 Global Process Automation and Instrumentation Market Outlook, By Metal & Mining (2020-2028) ($MN) (2020-2028) ($MN)
28 Global Process Automation and Instrumentation Market Outlook, By Wastewater Treatment (2020-2028) ($MN) (2020-2028) ($MN)
29 Global Process Automation and Instrumentation Market Outlook, By Energy & Power (2020-2028) ($MN) (2020-2028) ($MN)
30 Global Process Automation and Instrumentation Market Outlook, By Other End Users (2020-2028) ($MN) (2020-2028) ($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


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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