The increased demand for fuel is pushing the global market for automation. New oil and gas wells are being discovered continuously, while old and underutilized ones are being rejuvenated with the help of automation and control technologies. Oil & gas automation has a huge growth opportunity in emerging economies where exploration has just begun. These technologies help the companies realize cost benefits, increase productivity, and improve their safety standards. These technologies are also helping the enterprises to carry out the oilfield operations, production and processing and distribution and retailing of the petroleum products efficiently and with reduced errors. There are various products like distributed control systems, programmable logic controllers, human machine interface and supervisory control and data acquisition that help oil corporations realize the benefits of automation.
Asia-Pacific Oil & Gas Automation Market-Market Dynamics
Asia-Pacific is one of the fastest-growing markets in the world, with investments flooding from all around the world. This has put enormous pressure on the oil & gas sector to produce more. The production and import of oil have increased manifold in this region. It has one of the biggest refineries in the world like Reliance Jamnagar Refinery in India, Ulsan Refinery in South Korea, etc. Wireless sensors play an important part in the safety of the equipment and also the people handling it. As a result, the demand for oil and gas automation in this region is expected to grow in the coming years.
Drivers
Some of the factors driving the market include:
- Optimizing production
- Enhancing safety and security
- Effective and easy maintenance
- Exploration from aging reservoirs
Restraints
There are, however, some restraints that the market faces. These include:
- High initial investment
- Political instability
The report will be useful in gaining an exhaustive understanding of the regional market. It will also be of assistance in providing a comprehensive analysis of the major trends, innovations, and associated prospects for market growth over the coming half a decade. The report will be an ideal source material for industry consultants, manufacturers, and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered. The report contains a wide range of information about the leading market players and the major strategies adopted by them.
Some of the major players in this market are:
- ABB
- Climation
- Fuji Electric
- GE
- Maverick Technologies
- Metso
- National Instruments
- Schneider Electric
- Siemens
What the Report Offers
- Market definition along with identification of key drivers and restraints for the market.
- Market analysis with region-specific assessments and competition analysis on a global and regional scale.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
- Identification and analysis of the macro and micro factors that affect the industry on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
