PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1517642
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1517642
Process Instrumentation Market, By Type of Instrumentation (Pressure Instruments, Flow Instruments, Level Instruments, Temperature Instruments, Analytical Instruments, Control Valves), By Technology, By End User & Forecast, 2024 - 2032
Process instrumentation market size is set to record over 3% CAGR between 2024 and 2032. The increasing prevalence of automation and digitization in various sectors, such as oil & gas, chemical manufacturing (CIP), pharmaceuticals, and water treatment is necessitating the use of advanced process equipment solutions to enhance the productivity with accuracy and safety. For instance, in November 2023, ABB launched ABB Ability(TM) SmartMaster in India, a complete asset management platform for inspection and condition monitoring of instruments and field equipment for the water, wastewater, chemical, oil & gas and other industries. Strict regulations on quality control, environmental monitoring, and occupational safety are also driving the demand for process measurement systems to provide real-time data monitoring and analysis to ensure compliance and reduce risk.
Innovations in sensor technology, wireless communications and data analytics are further enabling the development of more intelligent and integrated process measurement solutions to provide a holistic view of industrial processes. Industry 4.0 technologies like IIoT and AI are integrating process instruments and systems for real-time monitoring and optimization of production processes. Demand for remote monitoring due to globalization and the pandemic is also driving the adoption of cloud-based and mobile equipment, further accelerating the market growth.
The process instrumentation industry is segmented into type of instrumentation, technology, end user and region.
Based on type of instrumentation, the market size from the flow instruments segment is slated to gain momentum through 2032. The increasing importance of operational efficiency, productivity and resource conservation in industries has led to the development of advanced flow instruments to measure fluids under a wide variety of operating conditions. The use of flow instruments to monitor and control fluid flows is also adding to segment growth on account of strict environmental requirements and product quality limitations.
In terms of technology, the process instrumentation market from the programmable logic controller segment is anticipated to observe decent growth rate between 2024 and 2032, due to its pivotal role in industrial automation and process control systems. Programmable logic controller (PLCs) are crucial for monitoring and controlling processes in industries like manufacturing, energy, and electrical. The demand for advanced PLCs is further rising with the adoption of smart manufacturing and Industry 4.0.
Asia Pacific process instrumentation industry will grow substantially between 2024 and 2032. The rapid industrialization and infrastructure development in emerging economies like China, India, and Southeast Asia are driving the demand for process instrumentation solutions to support manufacturing and infrastructure projects. Government initiatives for promoting industrial automation and digitalization are also accelerating the regional market growth.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis, 2018 - 2032
- 2.2 Business trends
- 2.2.1 Total addressable market (TAM), 2024-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Vendor matrix
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Increasing industrial automation and digitization
- 3.8.1.2 Demand for real-time monitoring and control solutions
- 3.8.1.3 Stringent regulatory requirements for safety and quality standards
- 3.8.1.4 Technological advancements in sensor technologies
- 3.8.1.5 Growth in the oil & gas industry
- 3.8.2 Industry pitfalls & challenges
- 3.8.2.1 Challenges in interoperability between different instrumentation systems
- 3.8.2.2 High initial investment costs for advanced instrumentation solutions
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Type of Instrumentation, 2018 - 2032 (USD Million)
- 5.1 Key trends
- 5.2 Pressure instruments
- 5.3 Flow instruments
- 5.4 Level instruments
- 5.5 Temperature instruments
- 5.6 Analytical instruments
- 5.7 Control valves
- 5.8 Others
Chapter 6 Market Estimates & Forecast, By Technology, 2018 - 2032 (USD Million)
- 6.1 Key trends
- 6.2 Programmable logic controller (PLC)
- 6.3 Distributed control system (DCS)
- 6.4 Supervisory control and data acquisition (SCADA)
- 6.5 Manufacturing execution system (MES)
Chapter 7 Market Estimates & Forecast, By End User, 2018 - 2032 (USD Million)
- 7.1 Key trends
- 7.2 Water and wastewater treatment
- 7.3 Chemical and petrochemicals
- 7.4 Energy & utilities
- 7.5 Oil & Gas
- 7.6 Metals and mining
- 7.7 Others
Chapter 8 Market Estimates & Forecast, By Region, 2018 - 2032 (USD Million)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
- 8.6 MEA
- 8.6.1 UAE
- 8.6.2 South Africa
- 8.6.3 Saudi Arabia
- 8.6.4 Rest of MEA
Chapter 9 Company Profiles
- 9.1 ABB Ltd.
- 9.2 Emerson Electric Co.
- 9.3 Endress+Hauser Group
- 9.4 General Electric Company (GE)
- 9.5 Honeywell International Inc
- 9.6 KROHNE Messtechnik GmbH
- 9.7 Mitsubishi Electric Corporation
- 9.8 Pepperl+Fuchs AG
- 9.9 Rockwell Automation, Inc.
- 9.10 Schlumberger Limited
- 9.11 Schneider Electric SE
- 9.12 SICK AG
- 9.13 Siemens AG
- 9.14 VEGA Grieshaber KG
- 9.15 Yokogawa Electric Corporation
