North America Oil And Process Automation And Instrumentation Market Forecast 2018-2026
KEY FINDINGS North America is a significant regional market for process automation and instrumentation systems in the oil and gas industry, in terms of technologies, instruments and services. As a result, the North America oil & gas process automation and instrumentation market is predicted to rise with a 5.69% CAGR during the forecast period of 2018-2026.
MARKET INSIGHTS The applications of process automation and instrumentation have only been increasing in the oil and gas industry for North America. As more and more oil and gas companies pursue high productivity, safety and low operating costs, they are increasingly willing to spend more on process automation systems, a fact, which has considerably contributed to the region’s prosperity. The US is currently the largest producer and exporter of shale gas. The production of oil and gas has been at record levels since 2015, and the country is currently one of the largest producers of petroleum products. Recently, Canada has also witnessed a large number of extraction and production activities owing to its vast natural gas reserves.
COMPETITIVE INSIGHTS Few of the noted companies in this market are Eaton Corporation Plc, Royal Dutch Shell Plc, Sigit Automation Inc, Tyco International Plc, Bp Plc, Baker Hughes Incorporated, Yokogawa Electric Corporation, Weatherford International Ltd., General Electric Corporation (Ge), Mitsubishi Electric Corporation, Rockwell Automation Inc., Schneider Electric Se, ABB Ltd , and Siemens Ag.