Market Research Future Insights
According to MRFR analysis, the Global Process Automation and Instrumentation Market is expected to register a CAGR of 6.5% from 2023 to 2030 and hold a value of over USD 5.9 billion by 2030.
The global process automation and instrumentation market refers to the use of technology and devices to automate and control industrial processes, as well as measure and monitor various process parameters such as temperature, pressure, flow, and level. The goal of process automation and instrumentation is to improve efficiency, increase productivity, reduce operational costs, and enhance safety in various industries, including oil and gas, chemicals, pharmaceuticals, food and beverages, and water and wastewater treatment.
The pandemic has also highlighted the need for automation and digitalization in industries, which is expected to drive the adoption of process automation and instrumentation solutions in the long run. For instance, there has been an increase in demand for remote monitoring and control systems, which allow for remote access and management of industrial processes.
Process Automation and Instrumentation Market Key Players
Some of the key market players are:
- ABB Ltd (Switzerland)
- General Electric Co. (U.S)
- Mitsubishi Electric Corporation (Japan)
- Rockwell Automation Inc. (U.S)
- Emerson Electric Co. (U.S)
- Siemens AG (Germany)
- Yokogawa Electric Corporation (Japan)
- Metso Corporation (Finland)
- Schnieder Electric SE (France)
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Process Automation and Instrumentation Market Regional Analysis
The largest region of the global process automation and instrumentation market is currently North America. This region has a well-established industrial sector, including major industries such as oil and gas, chemicals, and manufacturing, which have been early adopters of process automation and instrumentation solutions.
Moreover, North America has a highly developed technological infrastructure, including advanced communication networks, which support the adoption and integration of automation and instrumentation technologies. The region is also home to some of the largest players in the process automation and instrumentation market, such as Honeywell International, Siemens AG, and Emerson Electric Co.
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Process Automation and Instrumentation Market Segmentation
The Global Process Automation and Instrumentation Market have been segmented into instrument and end user.
Based on the Instrument, the market has been segmented into field instrument and control valve and analyzer.
Based on the End User, the market has been segmented into Chemicals, Energy Power and Food Beverages.
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