Europe Process Automation & Instrumentation Market By Instrument (Field Instrument, Control Valve and Analytical Instrument), By Solution (Distributed & Advanced Control System, PLC & SCADA, Functional Safety, Human Machine Interface and Others), By End User (Chemical, Energy & Power, Oil & Gas, Food & Beverages, Pharmaceuticals, Metals & Mining and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
The Europe Process Automation & Instrumentation Market would witness market growth of 2.8% CAGR during the forecast period (2020-2026).
The rising labor costs are projected to play a positive role in driving the automation instrumentation market in various industrial applications, such as the automotive industry among others. Manufacturers have tailored technology systems to satisfy consumer needs and sell them at a competitive price as well. The need for reduced production cycle time for components, improved product efficiency and a decrease in operating costs in the manufacturing sector is seeing the rapid growth of the demand for automation tools. The automation instrumentation used for industrial applications to include perfect control and manufacturing applications.
Process automation includes leveraging software, hardware, and computational technology to allow for cleaner and more effective operation of end-use industries such as cement, oil & gas, chemical, paper, and others. Using sensors, which gather data on flows, pressures, and temperatures among other things, the information is processed and analyzed on a computer. Collaboration between manufacturers of semiconductor parts, industrial software developers, and manufacturers of industrial automation equipment is important for the growth of the process automation and instrumentation industry as a whole.
Instrumentation involves both process regulation and feature calculation. In the past, instrumentation has seen significant growth primarily in such fields as electrical & dimensional calculation and physical inspection. The instrumentation industry may be categorized into four main separate groups, which are programmable, processor, operating device, and network instrumentation, based on the technique.
Based on Instrument, the market is segmented into Field Instrument, Control Valve and Analytical Instrument. Based on Solution, the market is segmented into Distributed & Advanced Control System, PLC & SCADA, Functional Safety, Human Machine Interface and Others. Based on End User, the market is segmented into Chemical, Energy & Power, Oil & Gas, Food & Beverages, Pharmaceuticals, Metals & Mining and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Emerson Electric Co., Schneider Electric SE, Honeywell International, Inc., General Electric (GE) Co., Mitsubishi Electric Corporation, Rockwell Automation, Inc., Yokogawa Electric Corporation, and HollySys Automation Technologies Ltd.
Scope of the Study
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