According to the new
market research report "Oil & Gas Sensors Market by Type (Pressure,
Level, Flow,Temperature), Connectivity (Wired, Wireless), Application (Remote
Monitoring, Condition Monitoring, Analysis), Sector (Upstream, Midstream,
Downstream), and Region -Global Forecast to 2023 ", published by MarketsandMarkets™, the global oil & gas sensors market is projected
to reach USD 9.4 billion by 2023 from an estimated USD 7.4 billion in 2018 at a
CAGR of 4.81%. The growth of the oil & gas sensors market is mainly driven
by the increasing adoption of ultrasonic sensors, growing focus on IoT related
products across the globe, and the increasing demand for sensors due to refining
capacity addition. For instance, OECD markets are expected to notice overall
gains in the refinery processing capacity with Turkey adding 200,000 b/d to
SOCAR’s STAR refinery at Aliage. Thus, the overall increasing additions in
refining capacity are expected to boost the demand for sensors in the oil and
gas industry.
The growth of the oil & gas sensors market is mainly
driven by the increasing adoption of ultrasonic sensors, growing focus on IoT
related products across the globe, and the increasing demand for sensors due to
refining capacity addition. For instance, OECD markets are expected to notice
overall gains in the refinery processing capacity with Turkey adding 200,000
b/d to SOCAR’s STAR refinery at Aliage. Thus, the overall increasing additions
in refining capacity are expected to boost the demand for sensors in the oil
and gas industry.
Don’t
miss out on business opportunities in Oil & Gas Sensors Market. Request
Sample Copy and gain crucial industry insights that will help your business
grow:
Global Oil &
Gas Sensors Market: Segmentation
Asia Pacific is estimated to be the fastest growing
market for oil & gas sensors during the forecast period. The region has
been segmented, by country, into China, Japan, India, Australia, and the Rest
of Asia Pacific. The oil & gas sensors market in the region is primarily
driven by the growing focus on automation in the oil & gas industry and
rising investments in petrochemical and refining sector in emerging countries
such as India and China. According to IEA, oil demand in Asia Pacific would
grow by an average of 2% annually by 2023. Therefore, there is a need for a
huge investment in the oil & gas industry in the next 3–4 years. This will,
therefore, create a demand for oil & gas sensors in the region.
Browse and
in-depth TOC on "Oil & Gas Sensors Market"
69 - Tables
42 - Figures
113 - Pages
View more detailed
TOC @
The oil
& gas sensor market, by application, is segmented into remote
monitoring, condition monitoring & maintenance, and analysis &
simulation. The remote monitoring segment is estimated to be the fastest
growing market during the forecast period. Remote monitoring includes pipeline
integrity monitoring, tank level monitoring, equipment-based monitoring,
condition based monitoring (CBM), pipeline Pressure Relief Valve monitoring,
refineries Pressure Relief Valve monitoring , wellhead automation, and
monitoring. Moreover, the real-time data acquisition and monitoring reduces
cost by eliminating maintenance downtime or unplanned failures. Thus, remote
monitoring helps in improving the process and productivity.
The report segments the oil & gas sensors market, by connectivity,
into wired and wireless. The wireless segment is expected to grow at the
highest CAGR during the forecast period. Reduction in downtime, maximum
efficiency and saving maintenance cost is driving the wireless sensor market in
the coming years. Need for lower cost of installation and adoption of new
sensor technologies would drive the market for wireless sensors globally. This
will provide promising business opportunities to the manufacturers of wireless
oil & gas sensors.
Download PDF
Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=212567893
Global
Oil & Gas Sensors Market:
Regional Analysis
In this report, the oil & gas sensors market has been
analyzed with respect to 5 regions, namely, North America, Europe, South
America, Asia Pacific, and the Middle East & Africa. Asia Pacific is
estimated to be the largest oil & gas sensors market from 2018 to 2023.
Increasing adoption of industrial automation in emerging countries such as
India and China are some of the key factors responsible for the growth of the
oil & gas sensors market in this region. Moreover, according to IBEF, ONGC
(India) is investing USD 2.73 billion on drilling oil & gas wells from 2018
to 2019. In addition, Saudi Aramco is planning to invest in the downstream
sector in India. Such factors would drive the oil & gas sensors market in
the country.
Global Oil &
Gas Sensors Market: Competitive Players
The major players in the global oil & gas sensors
market are Emerson (US), ABB (Switzerland), Siemens (Germany), Rockwell (US),
Honeywell (US), Fortive (US), and General Electric (US), among others.
Honeywell focuses on innovation and development of the products for various oil
& gas processes. It provides a comprehensive offering of sensors for the
oil & gas industry, which help customers in achieving better energy
efficiencies.
Browse Adjacent Markets @ Energy and Power
Market Research Reports & Consulting
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach
MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the "Growth
Engagement Model – GEM". The GEM aims at proactive collaboration with the
clients to identify new opportunities, identify most important customers, write
"Attack, avoid and defend" strategies, identify sources of
incremental revenues for both the company and its competitors. MarketsandMarkets™
now coming up with 1,500 MicroQuadrants (Positioning top players across
leaders, emerging companies, innovators, strategic players) annually in high
growth emerging segments. MarketsandMarkets™ is determined to benefit more than
10,000 companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, "Knowledge Store" connects
over 200,000 markets and entire value chains for deeper understanding of the
unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
