Automation and Instrumentation Market in Chemical and Petrochemical Industry in Europe 2015-2019
About Automation and Instrumentation market
Automation and instrumentation solutions consist of automation solutions such as DCS, MES, PLC, SCADA, and APC, which help companies optimize their business operations by effectively controlling the production processes. The automation instruments include control valve, temperature transmitter, level transmitter, flow transmitter, and pressure transmitter, which help in improving the operational efficiency of an organization. The automation and instrumentation products are used in various discrete and process industries including oil and gas, chemical, refining, power, petrochemical, textile, automotive, and pharmaceutical industries. Effective deployment of these solutions will help reduce the downtime and optimize the overall operational cost of the organization.
TechNavio's analysts forecast the automation and instrumentation market in chemical and petrochemical industry in Europe to grow at a CAGR of 6.55% over the period 2014-2019.
Covered in this Report
The automation and instrumentation market in chemical and petrochemical industry in Europe can be segmented into two segments: industrial automation consisting of DCS, PLC, SCADA, and others; and automation instrumentation consisting of control valves, flow meters, and transmitters.
TechNavio's report, Automation and Instrumentation Market in Chemical and Petrochemical Industry in Europe, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Automation and Instrumentation Market in Chemical and Petrochemical Industry in Europe 2015-2019
Technavio recognizes the following companies as the key players in the automation and instrumentation market in chemical and petrochemical industry in Europe: ABB Ltd., Emerson Electric Co., Honeywell International Inc., Rockwell Automation Inc. Siemens AG and Yokogawa Electric Corp.
Other Prominent Vendors in the market are: Applied Material, Aspen Technologies, Dassault Systèmes, FMC Technologies, GE, Metso, Miracom, Valmet, Mitsubishi Heavy Industries, Toshiba International, Schneider Electric, Omron, SAP and Werum Software & Systems
Commenting on the report, an analyst from Technavio’s team said: “Increased automation solution offerings is one of the key trends in the market. Automation vendors are trying to vertically integrate in a bid to offer complete product solutions to customers, attract new customers, and differentiate their products in the highly competitive automation and instrumentation market.”
According to the report, increased intra-European trade is one of the major drivers of the market. The removal of trade barriers within European countries has increased trade and has also helped in the growth of intra-European chemical sales, which now occupies more than half of the sales of the total chemical market in Europe.
Further, the report states that high costs associated with chemical industry is one of the key challenges that the market faces. The chemical industry in Europe is affected by rising costs of operations, labor and raw materials, and is failing to attract major investments. The cost of labor has increased significantly over the years.
ABB Ltd, Emerson Process Management, General Electric (GE) Co, Schneider Electric SE and Siemens AG, Honeywell International, Mitsubishi Electric, Rockwell Automation and Yokogawa Electric
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