Global Oil and Gas Terminal Automation Market: Overview
A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these.
Global Oil and Gas Terminal Automation Market: Competitive Landscape
Global oil and gas terminal automation market is a dynamic and evolving market landscape, rife with new and notable developments. These developments are shaping the future of the market. It is quite pertinent to note here that these are a result of players trying to equip themselves in order to be ready for any challenges or opportunities that the period stated above throws at them.
One of the most significant strategies of growth are mergers and acquisitions. Others are also open to strategic and synergistic partnerships and collaborations. It is quite important to note here that these help my improving penetration or grasp on a particular market. This, in turn is often a result of better resource availability, its optimal use, and so on.
The vendor landscape is slightly fragmented, quite competitive, and heavily reliant on technological advancement. Top players in the global oil and gas terminal automation market are:
- Yokogawa Electric Corporation
- Emerson Electric Co.
- Honeywell International Inc.
- Rockwell Automation, Inc.
- ABB Group
- Siemens AG
- Schneider Electric SE
- FMC Technologies, Inc
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Global Oil and Gas Terminal Automation Market: Key trends and driver
A growth curve – sturdy, steady, and upward facing – will be charted by the global oil and gas terminal automation market over the forecast period. It will be a logical and natural outcome of interplay between a number of positive trends and drivers in the market. An outline of some of the growth factors is provided below:
- Population is growing, driving up demand for oil and natural gas. This will create demand for a robust infrastructure that can manage storage and distribution of large volumes of these entities over the forecast period.
- Exploration and extraction of oil and gas is also set to drive growth in the market over the forecast period by creating demand for robust storage and proper distribution. A number of new hotspots have been discovered and notable BOE are being discovered in them.
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Global Oil and Gas Terminal Automation Market: Regional Analysis
Two regional markets are set to dominate the landscape of global oil and gas terminal automation market over the forecast period. These are North America and Asia Pacific excluding Japan (APEJ).One of the prominent reasons supporting growth in the market is increase in investments, directed at setting and improving export facilities. As automation in the latter grows in order to manage this demand, a high compound annual growth rate will be charted by the region. North America would owe its dominance to increasing cyber threats in the regional market. Besides, extensive implementation of instrumentation and process automation would also help the region further.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.