Terminal Automation - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Terminal Automation Market is accounted for $4.10 billion in 2018 and is expected to reach $7.02 billion by 2027 growing at a CAGR of 6.15%. Rising demand for environmentally cleaner fuel results in the increased adoption of natural gas and adherence to environmental and safety regulations are likely to boost the growth of the market. However, Low Capital Expenditure for Terminal Automation Projects is likely to hamper the profit boundaries.
Terminal automation technology is one of the most cost efficient and practical solution for enhancing the overall performance. Globally, increasing concern related to safety, security, and accuracy at the terminal areas, growing interest in advanced operational activities, and rising need to integrate the entire terminal system are the prime growth driver of terminal automation. In addition, growth in oil and gas refineries will create new opportunities for terminal automation market. However, delays owing to high dependence on political stability and threat of cybercrime at terminal operation area are key restraints for terminal automation market.
Based on the Software, the Terminal automation system offers control, monitoring, and management of the whole product handling method from receiving to storage and from storage to distribution. It has many applications in commercial as well as residential sectors apart from industrial uses. By geography, the Asia Pacific is projected to have fastest growth, owing to a number of factors including increasing demand from the manufacturing sector, that includes cement industry and chemicals and petrochemicals industry, increasing need for power and electricity, in countries like India and China, and rise in demand for oil and gas in Asia Pacific.
Some of the key players in the Terminal Automation market include Yokogawa Electric Corporation, Varec Inc, Technipfmc PLC, Siemens AG, Schneider Electric, Rockwell Automation Inc, Larsen & Toubro Limited, Inter Terminals Ltd, Intech Process Automation Inc, Implico Group, Honeywell International Inc, Endress+Hauser Management AG, Emerson Electric Co and ABB Ltd
• Control System
• Integrated Safety System
Project Types Covered:
• Brownfield Projects
• Greenfield Projects
End Users Covered:
• Oil & Gas
• Chemical and Petrochemical
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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