DUBLIN, March 20, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/m273hm/process) has announced the addition of the "Process Automation & Instrumentation Market in Oil & Gas Industry - Forecast to 2020" report to their offering.
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Global process automation & instrumentation in the oil & gas industry is the future of the oil & gas market. The oil & gas market is expected to grow due to the automated products because of the high output provided by them; thus, resulting in high revenue for the oil & gas companies. Automated products' demand will be driven by various factors such as consumers' need & demand for petroleum products, and oil & gas companies' need for an improved and sophisticated work-flow during the production. Automated products are, relatively, a new invention, which not only allow the user to reduce the functional time but also provide the feel of sophistication in service.
Automated machines & technologies are the easiest tools for completing the functions related to oil & gas production as well as refining. There are various automated products available in the market, which facilitate better service; such as SCADA, DCS, PLC, transmitters, analyzers, flow computers, and leakage detection system. Not only the oil & gas exploration sites, but even the refining plants also require automation in order to follow a sophisticated procedure. Automation & instrumentation, with its technologies, allows the producers to execute and experience a secured way of production.
The process automation & instrumentation market in the oil & gas industry is expected to grow at a CAGR of 8.23% in the next seven years (2013-2020) so as to reach $31.24 billion in 2020. In the report - the drivers, restraints, and opportunities for the process automation & instrumentation market in the oil & gas industry are also covered. The major driving factors for the process automation & instrumentation market in the oil & gas industry are: the growth of the oil & gas market and the oil & gas companies' desire to reduce the operational costs.
Some of the major companies dominating the process automation & instrumentation market in the oil & gas industry are ABB (Switzerland), Emerson Process Management (U.S.), Siemens (Germany), Honeywell (U.S.), Rockwell Automation (U.S.), and Yokogawa (Japan).
Key Topics Covered:
1 Introduction
2 Executive Summary
3 Cover Story - Interview with Founder and Director, IOG Solutions
4 Market Overview
5 Market Analysis
6 Oil & Gas Automation & Instrumentation Market, By Technology
7 Oil & Gas Automation & Instrumentation Market, By Operation
8 Oil & Gas Automation & Instrumentation Market, By Geography
9 Competitive Landscape
10 Company Profiles
Companies Mentioned:
For more information visit http://www.researchandmarkets.com/research/m273hm/process
Media Contact: Laura Wood, +353-1-481-1716, press@researchandmarkets.net
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