The global process instrumentation market reached a value of about USD 38 billion in 2021. The industry is projected to grow at a CAGR of around 5.4% in the forecast period of 2022-2027 to reach a value of USD 52 billion by 2027.
The process instrumentation industry report comprehensively analyses the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The process instrumentation companies use equipment that provides a variety of advantages such as enhancement in the quality of the commodities, lowering the emission, lessening the errors caused by humans, and saving costs. The key demand indicator in the industry report is the highest category spender by region — North America.
Various applications utilised including industrial production facilities and water and wastewater processing to evaluate numerous variables like pressure, flow, pH, level, conductivity, temperature, turbidity, force, speed, humidity, and other treatments in plants refers to process instrumentation. It is an important segment of any process industry as it permits real-time measurement and constructive management of process variables. The treatment plants can function productively, safely, and cost-effectively through the alarm signals incorporation with the help of efficient instrumentation. The global process instrumentation industry report comprises segments based on application (Field Instrumentation, Control Valves, Analytical Instruments), end-use (Utilities, Chemicals, Refining, Pharma, W&WW, Food & Beverage, Cement, Metals, Pulp & Paper, Oil & Gas, and Mining & Minerals) and regions (Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa).
Globally North America is reported to be holding the largest market share, followed by the Asia Pacific. The region is anticipated to grow further owing to the advancements in the generation-next technologies in the United States and Canada. There has been consistent and huge investment in new plants and equipment for the automation of plants in the chemicals and petrochemicals industry in the United States. Furthermore, in North America, a majority of manufacturers in the chemical industry utilise natural gas and ethane, which is a natural gas liquid obtained from shale gas as a raw material hence the demand for process instrumentation is relatively higher.
The role of process instrumentation services in the overall rise of competence of services and the complete improvement of the value of services are propelling the worldwide process instrumentation market. Moreover, the need for organisations to modernise and update their current systems and procedures, lessening operating costs, and enhance decision-making in industries like oil and gas, chemicals and petrochemicals, power, and water and wastewater. Therefore, raising employing of process instrumentation throughout industries and enterprises is considerably influencing the expanded development of the global market.
However, aspects such as the cost of execution and the time it requires for the initial application are constraining the market growth.
The global process instrumentation industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by process instrumentation providing and utilising regions across the globe, such as contract terms, engagement models, and buyer and supplier negotiation levers, among others.
All expenditure linked with the operation of the plant, including operating labour, engineering, and maintenance comes beneath operating expenditure. Additionally, financing the procurement, design, and construction of the most important assets falls under capital expenditure. Process manufacturing capacity of any size and density normally needs thousands of the ground instruments like actuators, valves, and other devices. Therefore, investment for the purchasing of process instrumentation represents capital expenditure.
The present concerns regarding water availability and sustainability are extensively credited to the massive growth in demand for the process instrumentation services. Instrumentation is largely used and has become progressively crucial in the water industry since it is utilised for both monitoring and controlling the processes. Moreover, with the introduction of the smart water industry, the utilisation of instrumentation and data-based control systems make substantial productivity in both water and wastewater techniques. Furthermore, various organisations are implementing process instrumentation to provide efficiencies in less costly services because of the population growth, change in the climate, and rising quality demands of the natural environment as opposed to stress to bring down the carbon emissions. Additionally, the US Environmental Protection Agency (EPA) is increasingly investing in water infrastructure projects which will probably drive the growth of the process instrumentation market.
The key zones in the industry are Europe, North America, Latin America, the Asia Pacific, and the Middle East, and Africa.
The process instrumentation market is fairly divided. The prominent players in the market utilises several approaches and tactics such as launching new products, augmenting, collaborations, agreements, business alliances, and asset purchases, among others to expand their impressions in the market. In addition, enduring agreements with corporate partners are expected to raise the revenue and innovative strategies are the major drivers that would help the process instrumentation vendors to reach new heights in the market.
1. Executive Summary
2. Process Instrumentation and Measurement Industry Snapshot
2.1. Process Instrumentation and Measurement Market Outlook
2.2. Process Instrumentation and Measurement Industry Analysis by Application
2.2.1. Field Instrumentation
2.2.2. Control Valves
2.2.3. Analytical Instruments
2.3. Process Instrumentation and Measurement Industry Analysis by End-Use
2.3.6. Food & Beverage
2.3.9. Pulp & Paper
2.3.10. Oil & Gas
2.3.11. Mining & Minerals
2.4. Regional Overview
2.4.1. North America
2.4.3. Asia Pacific
2.4.4. Latin America
2.4.5. Middle East & Africa
3. Impact of Recent Events
4. Process Instrumentation and Measurement Value Chain Analysis
5. Process Instrumentation and Measurement Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Process Instrumentation and Measurement Cost Structure
9. Process Instrumentation and Measurement Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Process Instrumentation and Measurement Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Industry Best Practices
13.1. Sourcing Strategy
13.2. Procurement Model
13.3. Contract Structure
13.4. Negotiation Levers
13.5. Pricing Model
13.6. Key Factors Influencing the Quotation
14. Key Supplier Analysis
14.1. Schneider Electric SE
14.2. Rockwell Automation,Inc.
14.3. Emerson Electric Co.
14.4. Siemens AG
14.5. ABB Ltd.
In 2021, the global attained a volume of around USD 38 billion in 2021.
In the forecast period of 2022-2027, the market is projected to grow at a CAGR of 5.4%.
The major market driver is the need for organisations to modernise and update their current systems and procedures, lessening operating costs, and enhancing decision-making in industries.
The major regions in the industry are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Some of the leading players in the industry are Schneider Electric SE, Rockwell Automation, Inc., Emerson Electric Co., Siemens AG, and ABB Ltd.
The global process instrumentation market reached a value of about USD 38 billion in 2021 and is projected to grow at a CAGR of around 5.4% in the forecast period of 2022-2027. The treatment plants can function productively, safely, and cost-effectively through the alarm signals incorporation with the help of efficient instrumentation. The global process instrumentation industry report comprises segments based on application, end-use, and regions. Globally North America is reported to be holding the largest market share, followed by the Asia Pacific. The role of process instrumentation services in the overall rise of competence of services and the complete improvement of the value of services are propelling the worldwide process instrumentation market. Instrumentation is largely used and has become progressively crucial in the water industry since it is utilised for both monitoring and controlling the processes. The key market players are Schneider Electric SE, Rockwell Automation, Inc., Emerson Electric Co., Siemens AG, and ABB Ltd.
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