NEW YORK, March 4, 2021 /PRNewswire/ -- The global automation solutions market in the oil and gas industry is expected to grow by USD 1.73 billion during 2021-2025, as per Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 3%.
Read the 120-page report with TOC on "Automation Solutions Market in the Oil and Gas Industry Analysis Report by Product (SCADA, DCS, PLC, and MES) and Geography (North America, APAC, Europe, MEA, and South America), and the Segment Forecasts,2021-2025". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales and supply functions. https://www.technavio.com/report/report/oil-and-gas-automation-solutions-market-industry-analysis
The automation solutions market in the oil and gas industry is driven by growing regulatory compliance. In addition, the gradual recovery in upstream activities is anticipated to boost the growth of the automation solutions market in the oil and gas industry.
Regulatory compliance in the oil and gas industry has increased significantly owing to the rise in the number of accidents and growth in environmental awareness. Therefore, regulatory authorities and independent energy agencies have drafted strict safety standards. This requirement fuels the demand for systems such as SCADA, PLC, and DCS, as these solutions can be easily integrated with other communication and management systems, such as ERP and PLM. Thus, automation solutions allow regular monitoring of machines and equipment and help companies to adhere to safety and environmental regulations. The increasing rig accidents and stringency in safety standards in the oil and gas industry have influenced industrial operators to adopt automation solutions during upstream oil and gas activities.
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Major Five Automation Solutions in the Oil and Gas Industry Companies:
Eaton Corporation Plc
Eaton Corporation Plc operates business through Electrical Products, Electrical Systems and Services, Hydraulics, Aerospace, Vehicle, and eMobility. The company offers programmable logic controllers such as Easy 500/700/800 Programmable Relays, easyE4 nano PLCs, Compact PLC XC-152, XC 300 Series Modular PLC, and XC 100/200 Series Modular PLCs for the oil and gas industry.
Emerson Electric Co.
Emerson Electric Co. operates business through Automation Solutions and Commercial and Residential Solutions. The company offers OpenEnterprise SCADA Systems and ControlWave Micro-Hybrid RTU/PLC for oil and gas applications. It also offers automation solutions for onshore activities, offshore activities, transportation and storage, gas processing and LNG, and oilfield services.
Honeywell International Inc.
Honeywell International Inc. operates business through Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers Experion SCADA (a controller that provides an integrated solution to solve complex remote automation requirements, especially those found in the oil and gas industry), MasterLogic PLC (a modular, scalable rack-based industrial controller that delivers powerful performance in a control application). The company also offers Experion Process Knowledge System, a SCADA system that drives vital information to the pipeline operations team while automating data logging and processing.
OMRON Corp. operates business through Industrial Automation, Electronic and Mechanical Components, Automotive Electronic Components, Social Systems, Solutions and Service, Healthcare, and Other. The company offers CS1 (the rack-based PLC with over 200 types of I/O units) and CX-Supervisor (dedicated to the design and operation of PC visualization and machine control).
Rockwell Automation Inc.
Rockwell Automation Inc. operates business through Architecture & Software and Control Products & Solutions. The company offers PlantPAx DCS, a technology based on open-communications standards. It serves as a common automation platform by connecting multiple control systems. The company also offers Manufacturing Execution Systems, which provide standardized workflows to operators to ensure the highest possible production quality and regulatory compliance.
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