Aug 2, 2019   SOURCE: BusinessWire

$95.5Bn Process Automation & Instrumentation Market Analysis by Instrument, Solution, Industry, and Geography (2019-2024) - ResearchAndMarkets.com

The "Process Automation & Instrumentation Market by Instrument (Field Instrument, Control Valve, Analytical Instrument), Solution (APC, DCS, HMI, MES, PLC, Safety Automation, SCADA), Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global process automation and instrumentation market is estimated to be valued at USD 71.4 billion in 2019 and is anticipated to register a CAGR of 6% to reach USD 95.5 billion by 2024 during the forecast period.

Major players included in the process automation and instrumentation market are ABB (Switzerland), Siemens (Germany), Emerson Electric (US), Schneider Electric (France), and Honeywell International (US). The other key players in this market include companies such as General Electric (US), Mitsubishi Electric (Japan), Rockwell Automation (US), Endress+Hauser (Switzerland), Yokogawa Electric (Japan), and HollySys (China).

Process automation and instrumentation market to exhibit significant growth potential from 2019 to 2024

Increasing importance of reduced operating costs and production efficiency, adoption of digital technologies such as IIoT, increased adoption of industrial automation and process control, and optimum utilization of resources are expected to be the key factors propelling the growth of the process automation and instrumentation market.

DCS segment to account for largest share in global process automation and instrumentation market

DCS is a digital automated industrial control system (ICS) that uses geographically distributed loops through a factory, machine, or control area. Unlike a centralized control system that operates all machines, a DCS allows each section of a machine to have its own dedicated controller that runs the operation. Rising demand for energy & power, emergence of open source DCS solutions, and cost and time effectiveness are primarily driving the growth of the DCS market. This is further boosted by the introduction of new techniques in distributed control systems, such as open interoperable systems. Industrial Internet of Things coupled with convergence of information technology (IT) with operational technology (OT) is likely to augment the DCS market growth.

Field instrument segment to account for largest share within process instrumentation in of global process automation and instrumentation market

Field instruments play an important role in process control by measuring key elements such as temperature, pressure, flow, and level. Field instruments assist in managing plant assets, enhancing plant safety, and optimizing overall production processes through data acquisition, control, and measurement. It is imperative to obtain information quickly, smoothly, securely, and accurately from field instrument by measuring key elements of process controltemperature, pressure, flow, and level to achieve optimum productivity at sites.

Pharmaceuticals industry to register highest CAGR in global process automation and instrumentation market

The pharmaceutical industry is expected to grow at the highest CAGR in the global process automation and instrumentation market. This is because of the need for handling complex processes in this industry and increasing competition in the industry and legislation related to this industry. Various processes in the pharmaceutical industry such as manufacturing, testing, drug development, packaging and distribution involve process automation and instrumentation solutions to increase efficiency and output of processes.

APAC to account for highest share of process automation and instrumentation market in 2019

The process automation and instrumentation market in APAC is expected to have the highest market share in 2019 because of the factors such as growing per capita income, rapid industrialization, and increasing urbanization, as well as consistent growth in industrial activities in the Pacific region, along with favorable government policies; growing demand for oil & gas and food & beverages; and rising infrastructural investments in energy & power.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Process Automation and Instrumentation Market, 2019-2024 (USD Billion)

4.2 Process Automation and Instrumentation Market (2019-2024)

4.3 Process Automation and Instrumentation Market, By Instrument (2018-2024)

4.4 Process Automation and Instrumentation Market, By Solution (2019-2024)

4.5 Process Automation and Instrumentation Market, By Industry, 2018

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Importance of Energy Efficiency and Cost Reduction

5.2.1.2 IIoT: the Catalyst for Digitalization

5.2.1.3 Emphasis on Industrial Automation and Optimum Utilization of Resources

5.2.2 Restraints

5.2.2.1 High Investment for Implementation and Significant Maintenance Cost for Process Automation and Instrumentation Solutions

5.2.3 Opportunities

5.2.3.1 Rising Demand for Safety Automation Systems

5.2.3.2 Increasing Demand for Multivariable Pressure Transmitter

5.2.4 Challenges

5.2.4.1 Persistent Growth in Cyberattacks and Security Issues

5.2.4.2 Lack of Skilled Workforce

5.3 Industrial Safety and Process Automation

5.3.1 Safety Integrity Level (SIL)

5.3.2 Industrial Safety Standards

5.3.2.1 IEC 61508

5.3.2.2 IEC 61511

5.3.2.3 IEC 62061

5.3.2.4 IEC 62443

5.4 Key Partnerships for Digitalization in Process Automation Industry

6 Process Automation and Instrumentation Market, By Instrument

6.1 Introduction

6.2 Field Instrument

6.2.1 Pressure Transmitter

6.2.1.1 Types of Pressure Transmitters

6.2.1.1.1 Absolute Pressure Transmitter

6.2.1.1.1.1 Absolute Pressure Transmitters Provide Accurate Measurements

6.2.1.1.2 Gauge Pressure Transmitter

6.2.1.1.2.1 Wide Usage of Gauge Pressure Transmitters Owing to Their Unique Features

6.2.1.1.3 Differential Pressure Transmitter

6.2.1.1.3.1 Differential Pressure Transmitter is Mostly Preferred in Various Industries

6.2.1.1.4 Multivariable Pressure Transmitter

6.2.1.1.4.1 Multivariable Pressure Transmitters Offer Greater Insight Into the Measurement Process Because of Its Intelligence and Versatile Performance

6.2.2 Temperature Transmitter

6.2.2.1 Energy & Power Industry is A Prominent Market for Temperature Transmitters

6.2.3 Level Transmitter

6.2.3.1 Water & Wastewater A Key Industry for Level Transmitters

6.2.3.2 Level Transmitters, By Technology

6.2.3.2.1 Capacitive Level Transmitter

6.2.3.2.1.1 Capacitive is A Cost Effective and Simple Technology

6.2.3.2.2 Ultrasonic Level Transmitter

6.2.3.2.2.1 Ultrasonic Level Transmitter is Easy to Install on Tanks

6.2.3.2.3 Radar Level Transmitter

6.2.3.2.3.1 Contact Level Transmitter (Guided Wave Radar)

6.2.3.2.3.2 Noncontact Radar Level Transmitter

6.2.3.2.4 Differential Pressure/Hydrostatic

6.2.3.2.4.1 Differential Pressure/Hydrostatic Level Transmitter Likely to Hold Largest Market Share From 2019 to 2024

6.2.3.2.5 Magnetostrictive Level Transmitter

6.2.3.2.5.1 Magnetostrictive Level Transmitter Works Well With Clean Liquids and is Accurate and Adaptable to Wide Variations in Fluid Densities

6.2.3.2.6 Radiometric Level Transmitter

6.2.3.2.6.1 Radiometric Level Transmitter is Mainly Used in Metals & Mining Industry

6.2.3.2.7 Others

6.2.4 Humidity Transmitter

6.2.4.1 Adverse Effects of Humidity on Textile Products Propel the Use of Humidity Transmitters

6.2.5 Vibration Level Switch

6.2.5.1 Vibration Level Switch, By Technology

6.2.5.1.1 Vibrating Fork

6.2.5.1.2 Vibrating Rod

6.3 Control Valve

6.3.1 Valve Body

6.3.1.1 Different Parts of Valve Body

6.3.2 Actuator

6.3.2.1 Types of Control Valve Actuators

6.3.3 Others

6.3.3.1 Key Suppliers of Valve Positioners

6.4 Analytical Instrument

6.4.1 Ph Analyzer

6.4.1.1 Effect of Temperature on Ph Measurement

6.4.2 Conductivity Analyzer

6.4.2.1 Applications of Conductivity Analyzer

6.4.3 Gas Chromatograph

6.4.3.1 Components of A Gas Chromatograph

6.4.4 Liquid Chromatograph

6.4.4.1 Advanced and Specialty Liquid Chromatography Systems

7 Process Automation and Instrumentation Market, By Solution

7.1 Introduction

7.2 Programmable Logic Controller (PLC)

7.2.1 Proliferation of Micro and Nano PLCs in Process Automation and Instrumentation Market

7.3 Distributed Control System (DCS)

7.3.1 Expansion of Infrastructure in Process Industries

7.4 SCADA

7.4.1 Rising Demand for Automated Solutions in Process Industry Driving Adoption of SCADA

7.5 Human Machine Interface (HMI)

7.5.1 Advancement of Industrial Internet of Things (IIoT) to Drive Growth of HMI Solutions

7.6 Safety Automation

7.6.1 Emergency Shutdown System (ESD)

7.6.1.1 ESD: A Solutions to Ensure Safety in Critical Processes

7.6.2 Fire and Gas Monitoring & Control (F&G)

7.6.2.1 Detector is A Crucial Part of F&G System

7.6.3 High Integrity Pressure Protection System (HIPPS)

7.6.3.1 Wide Application Areas of HIPPS

7.6.4 Burner Management System (BMS)

7.6.4.1 Boiler Safety is the Principal Rationale for Adopting BMS

7.6.5 Turbomachinery Control (TMC)

7.6.5.1 Functional Safety of Compressors and Turbines is Vital in Process Industry

7.7 Advanced Process Control (APC)

7.7.1 Increasing Adoption of Advanced Process Control Technology Maximizes Output of Process Industry

7.8 Manufacturing Execution System (MES)

7.8.1 MES Likely to Benefit Process Industry

8 Process Automation and Instrumentation Market, By Industry

8.1 Introduction

8.2 Chemicals

8.2.1 China, European Union (EU), and the US are Major Producers of Chemicals

8.3 Energy & Power

8.3.1 Increasing Demand for Electrical Energy Propels Demand for Process Automation and Instrumentation Solutions

8.4 Food & Beverages

8.4.1 Adoption of Process Automation Solutions Minimizes Food Production Processes Effort

8.5 Metals & Mining

8.5.1 Process Automation and Instrumentation Supports in Controlling and Monitoring of Processes Involved in Metals & Mining

8.6 Oil & Gas

8.6.1 Increasing Oil Production Requires Efficient Oil Production Processses

8.7 Pharmaceuticals

8.7.1 Process Automation and Instrumentation Applicable in Diverse Processes in Pharmaceutical Industry

8.8 Pulp & Paper

8.8.1 US is A Major Producer of Pulp in Global Market

8.9 Water & Wastewater

8.9.1 Process Automation Solutions to Improve Water Treatment Processes

8.10 Others

8.10.1 Increasing Cement Production Leading to Adoption of Process Automation and Instrumentation Solutions

9 Process Automation and Istrumentation Market, By Geography

9.1 Introduction

9.2 North America

9.2.1 US

9.2.1.1 Oil Industry in US is Propelling Growth Opportunities in Process Automation Market

9.2.2 Canada

9.2.2.1 Canadian Suppliers to Help Modernizing Process Automation Sector

9.2.3 Mexico

9.2.3.1 Industry 4.0: A Challenging Opportunity for Mexico

9.3 Europe

9.3.1 Germany

9.3.1.1 Major Suppliers of Field Instruments are Based in Germany

9.3.2 UK

9.3.2.1 Rising Need for Automation in Food & Beverage to Drive Process Automation Systems

9.3.3 France

9.3.3.1 Government Support the Adoption of Process Automation Solutions in France

9.3.4 Rest of Europe

9.4 APAC

9.4.1 China

9.4.1.1 Scope of SCADA System in Water & Wastewater Industry in China

9.4.2 Japan

9.4.2.1 Higher Labor Wages in Country Lead to Adoption of Process Automation Solutions

9.4.3 India

9.4.3.1 Make in India Campaign to Encourage Process Industries in Country

9.4.4 Rest of APAC

9.5 RoW

9.5.1 Middle East & Africa

9.5.1.1 Importance of Automation in Mining Industry Leading to Growth Opportunities for Process Automation and Instrumentation Market in Africa

9.5.2 South America

9.5.2.1 Brazil: an Important Market for Process Automation in South America

10 Competitive Landscape

10.1 Overview

10.2 Competitive Analysis

10.2.1 Market Ranking Analysis: Process Automation & Instrumentation Market, 2018

10.2.2 Revenue Growth and Profit Margin Analysis for Top Selected Companies in Process Automation and Instrumentation Market

10.3 Competitive Leadership Mapping, 2018

10.3.1 Vanguards

10.3.2 Innovators

10.3.3 Dynamic Differentiators

10.3.4 Emerging Companies

10.4 Competitive Situation and Trends

10.4.1 Agreements, Contracts, Joint Ventures, Collaborations & Partnerships

10.4.2 Product Launches

10.4.3 Acquisitions and Expansions

11 Company Profiles

11.1 Key Players

11.1.1 ABB

11.1.2 Emerson

11.1.3 Honeywell

11.1.4 Siemens

11.1.5 Rockwell Automation

11.1.6 General Electric

11.1.7 Schneider Electric

11.1.8 Yokogawa

11.1.9 Mitsubishi Electric

11.1.10 Hollysys

11.1.11 Endress+Hauser

11.2 Other Players

11.2.1 Omron

11.2.2 Wika

11.2.3 Azbil

11.2.4 Fuji Electric

11.2.5 Hitachi

11.2.6 Xylem

11.2.7 Hach

11.2.8 Thermo Fisher Scientific

11.2.9 Shimadzu

11.2.10 Hima

11.2.11 Delta Electronics

11.2.12 Ametek

11.2.13 Burkert

11.2.14 Krohne

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