Europe Oil And Gas Process Automation And Instrumentation Market Forecast 2018-2026
KEY FINDINGS The Europe oil & gas process automation and instrumentation market is anticipated to grow at a CAGR of 4.08% during the forecast period of 2018-2026. The improved efficiency and safety offered by these systems is an important driver for the market expansion.
MARKET INSIGHTS Europe is showing good signs of market growth for process automation and instrumentation in the oil and gas sector. An important trend to be noticed for this region is that almost all countries in the region are growing at similar growth rates. Owing to its plentiful natural gas reserve, the Russian market earned the highest revenue in 2017. In Germany, oil and gas are a major part of the country’s energy mix. The oil and gas sector in the UK is also quite prosperous. Europe is overall a matured market for the oil and gas sector, and as a result, presently there are not enough new discoveries in terms of fossil fuel reserves. Exploration activities in the region are also few.
COMPETITIVE INSIGHTS Some of the major players in the market are Royal Dutch Shell Plc, Siemens Ag, ABB Ltd, Schneider Electric Se, , Eaton Corporation Plc, Sigit Automation Inc, Bp Plc, Mitsubishi Electric Corporation,Rockwell Automation Inc, General Electric Corporation (Ge), Tyco International Plc, Baker Hughes Incorporated, Weatherford International Ltd, and Yokogawa Electric Corporation.