Middle East & Africa Oil & Gas Sensors Market Forecast to 2031 - Regional Analysis - by Type, Connectivity, Function, and Application

Description

List of Tables

The Middle East & Africa oil & gas sensors market was valued at US$ 396.33 million in 2023 and is expected to reach US$ 515.11 million by 2031; it is estimated to register a CAGR of 3.3% from 2023 to 2031.

Expanding Oil and Gas Industry Bolsters Middle East & Africa Oil & Gas Sensors Market

The oil & gas industry has played a significant role in the economic transformation of various countries. The industry accounted for the largest share of global consumption of energy resources. Natural gas is projected to become the fastest-growing fossil fuel in the coming years. The oil production are increasing and fulfill energy demand. According to the International Energy Agency (IEA), global oil demand is expected to rise by 6% from 2022 to 2028 and reach 105.7 million barrels per day, with a significant requirement from the aviation and petrochemical industries. Rising demand for oil among various industries increases the demand for numerous oil & gas sensors such as pressure sensors, temperature sensors, flow sensors, and level sensors for monitoring and controlling plant operations.

The expansion of the oil & gas industry is also associated with increasing investment in oil & gas exploration activities. For instance, according to the Urwald eV report published in November 2023, between 2021 and 2023, 384 businesses across the globe have reported an average capital expenditure of more than US$ 10 million in oil & gas exploration activities. The top seven companies invested in oil & gas exploration are China National Petroleum Corporation (CNPC) (US$ 5.9 billion), China National Offshore Oil Corporation (CNOOC) (US$ 3.2 billion), Saudi Aramco (US$ 2.8 billion), Pemex (US$ 2.6 billion), Sinopec Group (US$ 2.4 billion), Pioneer Natural Resources (US$ 2.1 billion), and Shell plc (US$ 2.0 billion). These investments support oil & gas companies to adopt technologically advanced oil & gas sensors by expanding their business worldwide. Thus, the expanding oil & gas industry fuels the oil & gas sensors market growth.

Middle East & Africa Oil & Gas Sensors Market Overview

Governments of several countries in the MEA are implementing various policies and regulations to encourage the adoption of advanced technologies such as IoT and AI in different industries. According to the International Trade Administration report of November 2023, the government of UAE aims to become self-sufficient in gas supplies by 2030. The UAE now imports natural gas from Qatar via the Dolphin pipeline to fuel power plants and desalination facilities. Simultaneously, the country has increased its focus on energy transition and is moving forward to adopt its "net-zero" emissions objective. This encourages oil & gas industries to adopt advanced devices that sustainably promote energy transition. In December 2022, Abu Dhabi National Oil Company (ADNOC), a global leader in the oil & gas industry, announced its intentions to focus on renewable energy, carbon capture and storage, and clean hydrogen, along with making efforts to expand its presence in the global gas, liquefied natural gas (LNG), and chemicals sectors. Thus, burgeoning investments to expand the oil & gas industry and government initiatives to promote sustainability throughout the oil production process are expected to create growth opportunities for the oil & gas sensors market in the coming years.

Middle East & Africa Oil & Gas Sensors Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Oil & Gas Sensors Market Segmentation

The Middle East & Africa oil & gas sensors market is categorized into type, connectivity, function, application, and country.

Based on type, the Middle East & Africa oil & gas sensors market is segmented pressure sensor, temperature sensor, flow sensor, and level sensor. The pressure sensor segment held the largest market share in 2023.

In terms of connectivity, the Middle East & Africa oil & gas sensors market is bifurcated into wired and wireless. The wired segment held a larger market share in 2023.

By function, the Middle East & Africa oil & gas sensors market is segmented into remote monitoring, condition monitoring and maintenance, analysis and simulation, and others. The remote monitoring segment held the largest market share in 2023.

By application, the Middle East & Africa oil & gas sensors market is segmented into upstream, midstream, and downstream. The upstream segment held the largest market share in 2023.

By country, the Middle East & Africa oil & gas sensors market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa oil & gas sensors market share in 2023.

Honeywell International Inc, TE Connectivity Ltd, Robert Bosch GmbH, ABB Ltd, Siemens AG, Rockwell Automation Inc, Analog Devices Inc, Emerson Electric Co, SKF AB, and GE Vernova are some of the leading companies operating in the Middle East & Africa oil & gas sensors market.

Product Code: BMIRE00031066

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Middle East & Africa Oil & Gas Sensors Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain

5. Middle East & Africa Oil & Gas Sensors Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Growing Demand for Ultrasonic Sensors in Oil and Gas Applications
- 5.1.2 Expanding Oil and Gas Industry
- 5.1.3 Development of Internet of Things (IoT)-based Sensors
5.2 Market Restraints
- 5.2.1 High Costs Associated with Oil and Gas Sensors
5.3 Market Opportunities
- 5.3.1 Rising Investment in Capacity Expansion of Offshore Projects
- 5.3.2 Increasing Technological Advancements
5.4 Future Trends
- 5.4.1 Evolution of 5G Technology
5.5 Impact of Drivers and Restraints:

6. Oil & Gas Sensors Market - Middle East & Africa Analysis

6.1 Middle East & Africa Oil & Gas Sensors Market Forecast Analysis

7. Middle East & Africa Oil & Gas Sensors Market Analysis - by Type

7.1 Pressure Sensor
- 7.1.1 Overview
- 7.1.2 Pressure Sensor: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Temperature Sensor
- 7.2.1 Overview
- 7.2.2 Temperature Sensor: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Flow Sensor
- 7.3.1 Overview
- 7.3.2 Flow Sensor: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Level Sensor
- 7.4.1 Overview
- 7.4.2 Level Sensor: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

8. Middle East & Africa Oil & Gas Sensors Market Analysis - by Connectivity

8.1 Wired
- 8.1.1 Overview
- 8.1.2 Wired: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Wireless
- 8.2.1 Overview
- 8.2.2 Wireless: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

9. Middle East & Africa Oil & Gas Sensors Market Analysis - by Function

9.1 Remote Monitoring
- 9.1.1 Overview
- 9.1.2 Remote Monitoring: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Condition Monitoring and Maintenance
- 9.2.1 Overview
- 9.2.2 Condition Monitoring and Maintenance: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 203(US$ Million)
9.3 Analysis and Simulation
- 9.3.1 Overview
- 9.3.2 Analysis and Simulation: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Others
- 9.4.1 Overview
- 9.4.2 Others: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

10. Middle East & Africa Oil & Gas Sensors Market Analysis - by Application

10.1 Upstream
- 10.1.1 Overview
- 10.1.2 Upstream: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
10.2 Midstream
- 10.2.1 Overview
- 10.2.2 Midstream: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
10.3 Downstream
- 10.3.1 Overview
- 10.3.2 Downstream: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

11. Middle East & Africa Oil & Gas Sensors Market - Country Analysis

11.1 Middle East and Africa Oil & Gas Sensors Market Overview
- 11.1.1 Middle East & Africa Oil & Gas Sensors Market Breakdown, by Key Countries, 2023 and 2031 (%)
  - 11.1.1.1 Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 Saudi Arabia: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 Saudi Arabia: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.2.2 Saudi Arabia: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.2.3 Saudi Arabia: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.2.4 Saudi Arabia: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.1.3 United Arab Emirates: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 United Arab Emirates: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.3.2 United Arab Emirates: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.3.3 United Arab Emirates: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.3.4 United Arab Emirates: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.1.4 South Africa: Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 South Africa: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.4.2 South Africa: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.4.3 South Africa: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.4.4 South Africa: Middle East & Africa Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.1.5 Rest of Middle East & Africa Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.5.1 Rest of Middle East & Africa Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.5.2 Rest of Middle East & Africa Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.5.3 Rest of Middle East & Africa Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.5.4 Rest of Middle East & Africa Oil & Gas Sensors Market Breakdown, by Application

12. Competitive Landscape

12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 Product News & Company News

14. Company Profiles

14.1 Honeywell International Inc
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 TE Connectivity Ltd
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Robert Bosch GmbH
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 ABB Ltd
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Siemens AG
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Rockwell Automation Inc
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Analog Devices Inc
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 Emerson Electric Co
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 SKF AB
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
14.10 GE Vernova
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments

15. Appendix

15.1 About The Insight Partners
15.2 Word Index