Global Oil & Gas Automation and Control Market - Growth, Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 125 | Published By - Mordor Intelligence

Report Highlights

The global oil and gas automation & Control systems market is growing at XX% CAGR and is expected to reach USD XXX by 2022 from USD XXX in 2015.

As the demand has dropped and the oil prices have fallen, which gave an opportunity for the companies in oil and gas industry need to assess their facilities like equipment, technology, systems, etc., and upgrade them to increase the efficiency in the field and at the refinery in order to save money and increase production.

The automation and control systems in oil and gas sector plays a crucial role, serving many applications in upstream, midstream, downstream and power control systems ranging from emergency shutdown,   turnaround and outages of production facilities to automation systems assisting manufacturing   processes, maintenance and others. The control systems helps the companies to remotely control every segment of oil and gas industry by monitoring the operations in real time and thereby improving the decision making to maximize the production.

Further the market can be analyzed with the increase of interest in new technologies in process automation   and instrumentation coupled with the growth in extraction of shale resources, the oil and gas industry is witnessing a growth in the usage of various control systems on the basis of technology, such as Supervisory control and data acquisition (SCADA), Distributed Control systems (DCS), Programmable Logic Controller (PLC), Manufacturing execution systems(MES), Motor Control Centers, Energy management Solutions, Maintenance and Support services.

Also, considering safety and efficiency, Automation and control systems in oil and gas industry are primarily used for the accomplishment of the tasks with less human intervention along with the increase in productivity, high safety standards and reduction in costs. Also, the automation have key applications such as retailing and distribution of petroleum products, processing and production of plants, commissioning, etc.
 

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