Market Research Future published a research report on “Process Automation & Instrumentation Market Research Report- Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
The global process automation & instrumentation market is projected to witness a rapid growth during the forecast period. The growing demand for process automation & instrumentation among industries helps in optimizing the operating cost and improvise production efficiency
The global process automation & instrumentation market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the process automation & instrumentation market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. New York is anticipated to drive the growth of the Process Automation & Instrumentation Market owing to the presence of a large number of established key players such as ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.). The adoption of advance instrument across industry domains is further aiding the market growth.
Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the presence of oil and chemical factories, the presence of emerging economies, and technological advancement in process automation & instrumentation.
The global process automation & instrumentation market is projected to reach USD 72 billion at a CAGR of over 6% by the end of the forecast period 2017-2023.
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Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Process Automation & Instrumentation market Research Report-Forecast to 2023”.
Some of the prominent players in the global process automation & instrumentation market: ABB Ltd. (Switzerland), Emerson Electric Co. (U.S.), General Electric Co. (U.S.), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Rockwell Automation, Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), Yokogawa Electric Corporation (Japan), and Metso Corporation (Finland).
Process Automation & Instrumentation Market Segmentation
The global process automation & instrumentation market is segmented by instrument, solution, and end-user. The instrument segment consists of field instrument, control valve, and analyzer. Field instrument segment is further sub-segmented into pressure, temperature, level, and humidity. The control valve segment consists of valve body, actuator, and others. The analyzer consists of pH analyzer, conductivity analyzer, gas chromatograph, and liquid chromatograph. The solution segment consists of APC, DCS, HMI, MES, PLC, safety automation & SCADA. The end-user segment consists of chemicals, energy & power, food & beverages, metals & mining, oil & gas, pharmaceuticals, pulp & paper, water & wastewater, and others.
Market Research Analysis
North America is estimated to account for highest position in the process automation & instrumentation market, whereas Asia Pacific market is projected to be the fastest growing during the forecast period. The North American market is witnessing rapid growth due to technological advancements and increasing demand for cutting-edge instrument across different industry verticals in this region. The U.S. holds a majority of the market share both in terms of revenue as well as the adoption of advance solutions.
- Technology Investors
- Research/Consultancy firms
- Original Instrument Manufacturers
- Associations, organizations, forums, and alliances
- Process automation & instrumentation manufacturers
- End users of process industries
- Automation consultants
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