The industry of oil and gas is growing across the
globe year on year during the last decade owing to the significant increase in
the demand for oil especially from the underdeveloped region which majorly
includes India and China. Whereas, in the recent trend, with the significant
advancement in the technology led to interconnected enterprises, which support
the oil and gas market to shift closer to the operational excellence and
effectively facing the challenges related to the cost management and several
others. The automation solutions sanction oil and gas enterprises to optimize
and streamline business operations by allowing a seamless flow of data from the
enterprise assets to operations, trading systems and maintenance. Furthermore,
the government is also presenting the favorable policies and strategies which
further increase the demand for oil and gas and lead the market growth more
positively across the globe during the forecasted period.
According to the report analysis, ‘Automation
Solutions in Oil & Gas Industry: Global Market by System Type, Operation
Stage and Geography 2014-2023’ states that there are several key
players which are presently functioning in this sector more energetically for
leading the highest market growth and dominating the handsome value of market
share across the globe during the forecasted period more positively while
effectively studying the policies of government, analyzing the changing
behavior of the consumer for offering better services and advancing the
technologies with more applications and benefits includes ABB Ltd., Emerson
Electric Co., Endress+Hauser AG, Fanuc Corp., General Electric Co., Hitachi, Ltd.,
Honeywell International Inc., Mitsubishi Electric Corp., Rockwell Automation
Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation and
several others. Moreover, the players of respective region conducted various
studies to prove that the experts of industry are satisfied with the current
state of affairs of the oil and gas industry and anticipate this to market to
rise in the coming years.
Additionally, it is anticipated the cost of oil and
gas in Russia is very stable which is anticipated to demonstrate the stability
in the coming years with less unpredictable moves. This shall assistance the
market in growth in the near future as the recent levels of manufacture can
rise more significantly and conveniently. Not only have this, many regions for
leading the fastest market growth around the globe are investing the large
amount in the research and development sector to enhance the quality of their
outcome.
Although, the significant rise in the daily drilling
operations, increase in the diagnostics and inspections, high occurrence of
natural calamities and several others are the major growth drivers for the
automation solutions in the oil and gas industry. Whereas, in the above
mentioned factors the daily drilling operations is one of the largest expenses
for the oil and gas companies. Not only expensive, it is also extremely
technical and includes considerable precaution for the worker. The automation
manual portions of that process such as pressure drilling and pipe handling,
can effectively decrease the safety risks, and speed up the overall drilling
procedure. Therefore, in the coming years, it is anticipated that the market of
automation solutions in oil and gas industry will increase around the globe
more positively over the recent few years.
For More
information about the report, refer to below link:-
Related
Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
