Mar 28, 2019   SOURCE: BusinessWire

Oil & Gas Automation Market - Growth, Trends and Forecast Analysis (2019-2024) - ResearchAndMarkets.com

The "Oil and Gas Automation Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The oil and gas automation market is expected to register a CAGR of over 6.47% during the forecast period, 2019-2024.

Key Market Trends

Enterprise Resource & Planning (ERP) is Expected to Register Significant Growth

Oil and gas industries are among the early adopters for the ERP system, as the operations are highly dependent upon workflow management and market analysis. ERP providers are designing solutions specific to the upstream, midstream, and downstream activities.

As SCADA systems are capable of integration with ERP solution, real-time asset performance can be monitored and their maintenance schedules can be automated, thereby, avoiding sudden/unplanned downtime. The need for reducing the machine downtime expenses across the upstream and downstream companies supports the growth of the ERP segment in the market studied.

SCADA, integrated with ERP, is becoming popular in the oil and gas industry, owing to the focus on safety. In the downstream companies, such integration is allowing companies to correctly map business processes, risk factors, and control mechanisms, thus, streamlining the resource utilization and maintenance capabilities.

Due to the growing importance of synchronizing and supplementing an organization's business processes, the demand for ERP solutions is expected to increase during the forecast period. However, the availability of open source applications, tough competition, and higher implementation costs are expected to challenge the market's growth.

United States is Expected to Hold Major Share

The dependence of the oil and gas industry on automation has increased over the past decade, and multiple rounds of industry layoffs were announced that left oil and gas companies with a reduced number of skilled workers. This led to the increasing dependence of US oil companies on automation, in order to complete processes without any delay. In 2017, US exports of crude, as well as liquefied natural gas (LNG) and refined products, continued to rise, which aligned perfectly with the new administration's motto of energy dominance for the United States.

Although the US is still a net importer of crude, the growing place as an energy exporter and low-cost supplier could fundamentally change its position in the global energy landscape. As a result, automation is increasingly being adopted in the oil and gas sector in the United States. In terms of cost reductions, US natural gas producers have lowered and sustained costs, especially in the Marcellus and Haynesville gas plays, with the aid of automation.

For instance, SCADA is widely applied in the upstream, midstream, and downstream oil and gas sectors in the United States. In the upstream sector, its role is often stereotyped as being largely in support of remote data transmission. However, due to the wide and varied use of SCADA in other industrial sectors, this is expected to change. In addition, owners and operators in the United States recognize how IT-based automation can productively address the unique challenges of the upstream oil and gas sector.

Competitive Landscape

The oil and gas automation market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.

The companies operating in the market are also acquiring start-ups working on oil and gas automation to strengthen their product capabilities. In August 2018, Rockwell Automaton added five new members to its Machine Safety System Integrator program. Created in 2014, the program helps industrial companies identify system integrators with current safety standards expertise and a proven track record in designing safety systems.

Key Topics Covered

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Increasing Oil Consumption

4.3.2 Increasing Scarcity of Skilled Workers

4.4 Market Restraints

4.4.1 Volatile Oil Price Situation

4.5 Value Chain / Supply Chain Analysis

4.6 Industry Attractiveness - Porters Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Offering

5.1.1 Hardware

5.1.2 Software

5.1.3 Service

5.2 By Technology

5.2.1 Supervisory Control and Data Acquisition (SCADA)

5.2.2 Programmable Logic Controller (PLC)

5.2.3 Distributed Control System (DCS)

5.2.4 Machine Execution System (MES)

5.2.5 Product Lifecycle Management (PLM)

5.2.6 Enterprise Resource Planning (ERP)

5.2.7 Human Machine Interface (HMI)

5.2.8 Other Technologies

5.3 By Process

5.3.1 Upstream

5.3.2 Midstream

5.3.3 Downstream

5.4 Geography

5.4.1 North America

5.4.2 Europe

5.4.3 Asia-Pacific

5.4.4 Latin America

5.4.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Mitsubishi Electric Corporation

6.1.2 Schneider Electric SE

6.1.3 Emerson Electric Co.

6.1.4 Eaton Corporation

6.1.5 Dassault Systemes

6.1.6 Honeywell International Inc.

6.1.7 ABB Ltd.

6.1.8 Rockwell Automation Inc.

6.1.9 Yokogawa Electric Corporation

6.1.10 Siemens Corporation

6.1.11 Robert Bosch GmbH

6.1.12 Texas Instruments Inc.

6.1.13 Johnson Controls Inc.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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