Global Oil & Gas Automation Market – Expected to Reach $15.9 Billion by 2022 – Research and Markets

The "Global Oil & Gas Automation Market Outlook - By Technology , Geography, Trends, Forecast - 2017 - 2022" report has been added to Research and Markets' offering.

The global market for oil and gas automation is estimated to grow from USD 10.29 billion in 2016 to USD 15.94 billion by 2022, at a CAGR of 7.57% during the forecast period 2017-2022.

The need for enhanced safety and security standards in oil and gas fields are the major factors driving the market growth. Accidents can be avoided by the use of automated products that can control and monitor the safety of rigs, plants and operators. Different products like distributed control systems, programmable logic controllers, human machine interface, supervisory control and data acquisition can all be used to ensure adequate safety

In the last decade, production of oil and gas has shown a steady growth with a CAGR of 1.1% and 2.5% respectively. This will help the automation products to capture more market share in this sector. New oil and gas wells are being discovered continuously and old, underutilized ones are being renovated with the help of automation and control.

However, these automation products are expensive and require high capital expenditure. The manufacturers in these segments are doing a lot of research and development so as to reduce the cost, in order to reach out to a wider range of consumers. Major players in this market are ABB Ltd, Honeywell, General Electric International Inc., Rockwell Automation and Schneider Electric.

Companies Mentioned:

• ABB
• Honeywell
• General Electric
• Rockwell Automation
• Schneider Electric
• Siemens
• Yokogawa Electric Corporation
• Metso Corporation
• Mitsubishi Electric Corporation

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Market Dynamics & Trends

4. Oil and Gas Automation Market Segmentation by Automation Technologies

5. Oil and Gas Automation Market Segmentation by Sectors

6. Oil and Gas Automation Market Segmentation by Petroleum Derivative Products

7. Oil and Gas Automation Market Segmentation by Geography

8. Oil and Gas Automation Product Vendors, Market Share, Products and Services and Developments

9. Investment Analysis

10. Future of Oil and Gas Automation market

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View source version on businesswire.com: http://www.businesswire.com/news/home/20171130005991/en/