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 and gas sector to produce more. The production and the imports 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. So the demand for oil and gas automation in this region is expected to grow in the coming years.
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 and gas automation market have huge growth opportunity in emerging economies where exploration has just begun. These technologies help the companies to 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 which help oil corporations to realize the benefits achieved through automation. Some of the major players in this market are ABB, Siemens, GE, Metso and Schneider Electric. Some other players like Fuji electric, Maverick Technologies, Climation, and National Instruments along with some others have also been covered in this report.
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