Global Market for Process Automation and Instrumentation is Anticipated to grow at a Significant Pace i.e., USD 78.6 Billion during the Forecast Period 2021-2027

Published Date: Jan, 2022

The process automation and instrumentation market is expected to witness CAGR of 2.7% during the forecast period. Process Automation is a technology that uses automated equipment or machines in diverse industries to decrease or eliminate human labor and increase job productivity in a short span of time. The manufacturing and industrial sectors are rapidly evolving in process automation, resulting in advances in technology like distributed production by factories and services, the installation of autonomous plants, and the expanding use of remote operations to automate some processes. The increased emphasis to enhance the efficiency and effectiveness of operations performed by industry verticals at various stages to reduce operational costs and increase the demand for process automation and instrumentation. The increased adoption of IoT technology in various industrial verticals, mounting industrial revolution, growing labor wages in major manufacturing countries, and rising demand to boost production efficiency will accelerate the growth of the market. Nevertheless, the increased demand for safety automation systems will create opportunities for growth in the market. Thus process automation and instrumentation is significant for industries so as to provide real-time insights and are used for optimizing functions.  

In November 2021, Honeywell has delivered a novel process automation functionality Experion Process Knowledge System (PKS) 520.1 for end-users.  It has laid the foundation of Experion PKS Highly Integrated Virtually Environment (HIVE) which has reduced the complexity and cost of automation projects.

The COVID-19 pandemic has led to an economic slowdown leading to slow growth in the process automation and instrumentation market. Owing to disruption in the supply chain, shortage of raw material, import and export ban, and reduced demand for goods, the output has reduced and decreased in the growth of process automation and instrumentation market.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " Process Automation and Instrumentation Market Insight by Instrument (Field Instrument, Control Valve, and Analytical Instrument), by Solution (PLC, DCS, SCADA, HMI, Safety Automation, APC, and MES), by Industry Vertical (Food & Beverages, Pharmaceuticals, Chemicals, Energy & Power, Oil & Gas, Metals & Mining, Water & Wastewater, Pulp & Paper, and Others), and Region - Global Forecast to 2027"

By instrument, the control valves is projected to witness highest CAGR during the forecast period.

The process automation and instrumentation market is classified into three categories based on instrument: field instrument, control valve, and analytical instrument. Control valves are anticipated to have a high CAGR during the forecast period owing to ensuring accurate flow control which enables automatic operation and reduced wastage of resources. Furthermore, the increased adoption of control valves in the oil & gas industry and rising initiatives by the government to projects related to flow control like gas pipelines and water distribution will fuel the growth of the control valves segment.

Global Process Automation and Instrumentation Market Segmentation Analysis

Segment

Categorization

Leading Category

Instrument

Field Instrument, Control Valve, and Analytical Instrument

Field Instrument (Largest)

Control Valve

(High CAGR)

Solution

PLC, DCS, SCADA, HMI, Safety Automation, APC, and MES

HMI (High CAGR)

MES (Fastest)

Industry Vertical

Food & Beverages, Pharmaceuticals, Chemicals, Energy & Power, Oil & Gas, Metals & Mining, Water & Wastewater, Pulp & Paper, and Others

Pharmaceuticals

(High CAGR)

Energy & Power (Significant growth)

 

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (Fastest)

Discover More About This Report, Download A Free Sample Copy of Process Automation and Instrumentation Market 

“North America to hold the largest regional market share in 2021.”

Owing to the rising adoption of industrial automation processes in the area, North America dominates the process automation and instrumentation industry. Moreover, the prominence of a strong technological base, rising funding in the petrochemical and chemical industry will fuel the growth in the region.

Some of the major players in the global process automation and instrumentation market include ABB, Honeywell, Mitsubishi Electric Corporation, Emerson Electric Co., Danaher, Siemens, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Inc., and General Electric.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Instrument, Solution, Industry Vertical, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

ABB, Honeywell, Mitsubishi Electric Corporation, Emerson Electric Co., Danaher, Siemens, Schneider Electric, Yokogawa Electric Corporation, Rockwell Automation, Inc., and General Electric

Global Process Automation and Instrumentation Market Coverage

Instrument Insight and Forecast 2015-2027

  • Field Instrument
  • Control Valve
  • Analytical Instrument

Solution Insight and Forecast 2015-2027

  • PLC
  • DCS
  • SCADA
  • HMI
  • Safety Automation
  • APC
  • MES

Industry Vertical Insight and Forecast 2015-2027

  • Food & Beverages
  • Pharmaceuticals
  • Chemicals
  • Energy & Power
  • Oil & Gas
  • Metals & Mining
  • Water & Wastewater
  • Pulp & Paper
  • Others

Geographical Segmentation

Process Automation and Instrumentation Market by Region

North America

  • By Instrument
  • By Solution
  • By Industry Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Instrument
  • By Solution
  • By Industry Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Instrument
  • By Solution
  • By Industry Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Instrument
  • By Solution
  • By Industry Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries