Market Research Report
Process Automation & Instrumentation Market by Instrument (Field Instrument, Control Valve, Analyzer), Solution (APC, DCS, HMI, MES, PLC, Safety Automation, SCADA), End-User Industry, and Geography - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||277918|
|Published||Content info||191 Pages
|Process Automation & Instrumentation Market by Instrument (Field Instrument, Control Valve, Analyzer), Solution (APC, DCS, HMI, MES, PLC, Safety Automation, SCADA), End-User Industry, and Geography - Global Forecast to 2023|
|Published: July 10, 2017||Content info: 191 Pages||
"Process automation & instrumentation market to exhibit significant growth between 2017 and 2023"
The process automation & instrumentation market is expected to be valued at USD 62.64 billion in 2017 and is likely to grow at a CAGR of 6.0% to reach USD 88.92 billion by 2023. The market growth can be attributed to the rising emphasis on regulatory compliance in process industries, increasing adoption of IoT across various industries, shift in production approach from conventional practices to digitalized methods, growing labour wages in major manufacturing hubs, and rising demand for proactive solutions that can determine failures at component level, among others.
Control valves are the most commonly used control elements in process control systems. These are being devised to enable the flow of a fluid through a pipe based on the commands received from loop controllers such as a programmable logic controller (PLC). The burgeoning population worldwide is leading to an increase in the demand for energy, resulting in the rise of investments in the energy sector. In addition, the rising demand for clean portable water, along with safe and efficient waste collection and waste disposal facilities, is anticipated to augment the growth of the market for control valves in the coming years.
The process automation and instrumentation market for manufacturing execution systems is anticipated to grow at the highest rate between 2017and 2022. MES is capable of performing multiple activities and provides efficiency by checking quality, as well as production optimization. It tracks prosecution processes with the help of process automation and helps plants maintain a proper track from the initial phase of raw materials to the end phase of distribution of products to end users. It is easier to gather data when the processes are executed using industrial automation as the control and technology systems are connected to MES and have a shared database. However, it is difficult to track the data collected manually as it requires manual addition of data in the system, which may lead to human errors. Due to this, MES is actively being adopted by process industries worldwide.
The energy & power industry is projected to outpace the process automation & instrumentation market by 2023. The rising necessity to reduce unplanned downtime, improve plant efficiency, optimize operations, increase cost savings, and lower emissions is expected to propel the demand for process automation and instrumentation solutions in the energy & power industry.
The investments in energy infrastructure are rising in APAC due to the increase in the demand for electricity and policy makers' push for better power reliability and home-grown industries. Also, the process automation and instrumentation market for the pharmaceuticals industry in this region is growing due to low-cost factors, changing regulatory environment, and significant development in the field of contract manufacturing. Owing to these factors, Asia Pacific is likely to be the fastest-growing market for process automation & instrumentation between 2017 and 2023.
Breakdown of the profiles of the primary participants in the report has been given below:
Some of the key players operating in the process automation & instrumentation market include ABB Ltd. (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International, Inc. (US), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).
The process automation & instrumentation market research report covers different segments-type, instrument, solution, end-user industry, and geography. The market has been further segmented on the basis of instrument into (1) field instrument -pressure, temperature, level, and humidity; (2) control valve - valve body, actuator, and others; (3) analyzer -pH analyzer, conductivity analyzer, gas chromatograph, and liquid chromatograph. The report covers four major regions - North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Top 25 companies analyzed for this study are -ABB Ltd., Beckhoff Automation GmbH & Co., KG, Carlo Gavazzi, Delta Electronics, Inc., Emerson Electric Co., Endress+Hauser, General Electric Co., Hollysys Automation Technologies Ltd., Honeywell International, Inc., IDEC Corporation, Inductive Automation, INTECH Process Automation Inc., Maple Systems, INC., Metso Corporation, Mitsubishi Electric Corporation, Pepperl+Fuchs GmbH, Process Automation Solutions GmbH, R. Stahl AG, Robert Bosch, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Turck, Inc., WAGO Corporation, Yokogawa Electric Corporation
*Details on Business Overview, Products Offered, Product Offering Scorecard, Business Strategy Scorecard, Recent Developments, Key Relationships might not be captured in case of unlisted companies.