Asia-Pacific Emerged to Be the Fastest-Growing Market for Process Automation and Instrumentation During the Review Period

Pune, India, Sep 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Process Automation and Instrumentation Market.

Process Automation Instrumentation Market Highlights:

The growth can be attributed to many manufacturing firms and "Internet Plus" initiatives by the governments that encourage all industry verticals to adopt internet technologies and make business operations smart. The world's largest manufacturing hub will undergo significant changes as connectivity becomes the backbone of next-generation factories. Artificial intelligence (AI), machine learning, cloud computing, and the Internet of things (IoT) are being embraced to unleash technology-driven smartness manufacturing. According to our report, industrial IoT solutions are among the top three industries that will drive IoT adoption in the Asia-Pacific region by 2020.

North America accounts for the second-largest market share in the process automation and instrumentation market due to key players such as GE, Honeywell International, Inc, Rockwell Automation, and AMETEK, Inc. These companies are market leaders and continuously making significant investments in technological advancement. Additionally, increasing demand for process automation and instrumentation is fueling the growth of the North American market.

Europe has been segmented into four countries: the UK, Germany, France, and the rest of Europe. Increasing demand for level transmitters such as ultrasonic level measurement, radar level, open-channel flow, and others from the various end use industries especially water and wastewater industry, and chemical industry driving the process automation and instrumentation market growth in the Europe region.

The Middle East & Africa is expected to show significant growth in the process automation and instrumentation market. Small and medium-sized manufacturing companies are progressively digitalizing their manufacturing operations to enhance productivity and efficiency. Manufacturers are focused on investing in solutions that support production asset management and manufacturing operations.

Global Process Automation and Instrumentation Market Share, by Region, 2021 (%)Source: MRFR Analysis

Covid Impact Analysis

The COVID-19 outbreak has affected millions of people across the globe and has negatively impacted the global economy, causing global supply systems to collapse. Factory shutdowns throughout the world have impacted the automotive industry's supply chains. The continuous spread of COVID-19 in the first quarter of 2020 and beyond has decreased the global GDP growth and trade volumes, lowering commodities prices. Furthermore, production units in the automotive industry have closed, and there has been a sharp reduction in footfall, with a significant impact on vehicle sales. Businesses must respond on numerous fronts at once: while working to ensure the safety of their employees, they must simultaneously defend their operational sustainability, which is now increasingly threatened by a historic supply-chain shock.

Segmentation

• The global process automation & instrumentation market has been segmented on the basis of Instrument type, application and regions.


• The global process automation & instrumentation market, based on Instrument Type, the market has been segmented into Ultrasonic Level Measurement, Radar Level Measurement, Open-Channel Flow, and Non-Contacting Pipe Flow.


• The global process automation and instrumentation market, based on application, the market has been segmented into oil & gas, chemicals, pharmaceuticals, water & wastewater, metals & mining, energy & power, and others.


• The global process automation and instrumentation market, based on region is bifurcated into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Key Players

Some of the prominent players operating in the global Process Automation and Instrumentation market include Emerson Electric Co. (US), Honeywell International Inc. (US), Siemens AG (Germany), ABB Ltd. (Switzerland), Schneider Electric SE (France), Hawk Measurement Systems (Australia), Endress+Hauser Group Services AG (Switzerland), FAFNIR GmbH – Sensors & Systems (Germany), Nivelco ZRT (Hungary), Flowtronics (India), Badger Meter Inc. (US), Flexim (Germany), Micronics Ltd. (UK), Katronic (UK), Ametek Inc. (US), Teledyne ISCO (US), HACH (US), ADS (US), Nivus GmbH (Germany), Krohne Ltd. (UK), VEGA Grieshaber KG (Germany), SICK AG (Germany), Riels Instruments S.R.L. (Italy), Garner Industries (US), Markland Specialty Engineering Limited (Ontario), Royce Water Technologies (Queensland), ATI (US), Sontek (US) and GE Panametrics (US)