Global “Oil and Gas Automation and Control System Market 2019-2023” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global Oil and Gas Automation and Control System market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Reportspecifies the complete estimate of Global Oil and Gas Automation and Control System market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.
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Overview of Oil and Gas Automation and Control System Market:
Automation and control system in oil and gas industry has helped in remote management of infrastructure, reduced the chances of downtime and risk, speeded up various process, etc. The demand for oil and gas infrastructure is increasing demand for automation and control system. The global crude oil and natural gas consumption grew by 1.2% and 2.24% annually, during 2005-16 (except in 2009). The outlook for upstream sector also looks positive as the crude oil price has recovered in 2017, and crossed USD 60 per barrel in November 2017. The significant growth in the oil and gas industry in the forecast period is expected to drive the automation and control system market in the industry.Increase in Drilling Activity is Driving the MarketDrilling activity has been most affected by the downturn in upstream oil and gas industry. Automatic control of pipe handling and managed pressure drilling have reduced the risk significantly and speeded up the drilling process. It also reduces the operational downtime. Offshore oil and gas industry uses dynamic positioning rig for station keeping of floaters and drillships, drones for inspection of the platform, monitoring of gas emission, and others. The offshore drilling activity is expected to witness increased activity in the Golden Triangle – Gulf of Mexico, Brazil, and West Africa, along with the discovery of Egypt’s mammoth offshore natural gas field “Zohr.” In case of onshore the United States is expected to lead the market regarding drilling activity. As a result, the demand for automation and control system is expected to drive the market.Growing Refinery Sector in Asia-Pacific is supporting the MarketThe development of digital technologies, automation, and control systems has improved efficiency and better monitoring in the oil and gas refining sector. The refining industry uses Distributed Control System (DCS) to reduce the chances of downtime, potentially dangerous and damaging conditions, as DCS includes operational redundancy. The demand for refined fuels in Asia-Pacific is expected to outperform other regions in absolute volume terms, expanding by 17.2% between 2017 and 2026 (average annual growth rate of 1.8%). Several refinery projects are lined up in China and other countries in the region. As a result, the demand for automation in Asia-Pacific’s refinery is expected to support the market in the forecast period.Growing Natural Gas Pipeline Infrastructure in the US is Boosting the MarketSupervisory control and data acquisition (SCADA) based automation and control technology has been used for remote management of critical pipeline infrastructure. The United States is one of the largest consumers of crude oil and natural gas, accounting for almost 20% of global consumption. The country is planning to increase the share of natural gas in its energy mix. Several large interstate natural gas pipelines has come online in the past few years. The Federal Energy Regulatory Commission (FERC) certified new natural gas projects with total capacity of 17.6 billion cubic feet per day (Bcf/d) in 2016. Between January 30 and February 3, 2017, FERC certified seven projects of the total capacity of more than 7 Bcf/d, and includes more than 1500 miles of natural gas pipeline construction and expansion. Several miles of pipeline infrastructure in under construction or is expected to start construction during the forecast period, hence driving the demand for automation technology in oil and gas pipeline infrastructure.
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Key Highlights from Oil and Gas Automation and Control System Market Report 2019.
Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in Oil and Gas Automation and Control System industry evolution and predictive analysis.
Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The Oil and Gas Automation and Control System Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.
Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.
Demand and Supply and Effectiveness — Oil and Gas Automation and Control System Market report additionally provides distribution, Production, Consumption for the complete industry.
Oil and Gas Automation and Control System MarketTop Regions(regional analysis covers):-
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Oil and Gas Automation and Control System Market 2019 Report Brief:-
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