What is Oil And Gas Sensors Market?
Oil and gas sensors are an essential element in the oil and gas industry, used for many types of upstream applications such as exploration, well development, and production. They are used to provide accurate and reliable performance on land and offshore. Stimulation (fracturing and acidizing), mud logging, and well development (casing and cementing) are vital oil and gas processes that utilize oil and gas sensors for measurement, control, and monitoring functions. Technological advancements and digitization in the oil and gas industry coupled with the rising adoption of the industrial internet of things have projected the growth of the global oil and gas sensors market in the forecast period.
The market study is being classified by Type (Pressure Sensor, Temperature Sensor, Flow Sensor and Level Sensor), by Application (Remote Monitoring, Condition Monitoring And Maintenance, Analysis And Simulation and Others) and major geographies with country level break-up. According to AMA, the Global Oil And Gas Sensors market is expected to see growth rate of 4.69%
Honeywell International Inc. (United States), Emerson Electric (United States), General Electric (United States), Parker Hannifin Corp (United States), Siemens AG (Germany), ABB Ltd (Switzerland), Fortive (United States), Rockwell Automation, Inc. (United States), MTS Sensor Technology GmbH & Co. Kg (Germany), Bosch (Germany) and TE Connectivity (Switzerland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are BD Sensors (Germany) and Indutrade (Sweden).
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Oil And Gas Sensors market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Oil And Gas Sensors market by Type, Application and Region.
On the basis of geography, the market of Oil And Gas Sensors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Adoption of Ultrasonic Sensors
- Increasing Demand for Sensors Due to Refining Capacity Additions
- Growing Adoption Cutting Edge Technology like IoT, AI in Oil & Gas Industry
- Rising Investment in the Renewable Sector Would Affect the Demand for Sensors
- Increasing Unconventional Drilling Techniques Such as Mpd and Directional Drilling
- Rising in Offshore Investments by Various Nations
- Low Acceptance Level Toward Adopting New Technologies
Market Leaders and some development strategies
Recently, ABB has announced that it has expanded its operations network with a new collaborative operations center for the oil, gas, and chemical industries in Norway.
Recently, Siemens has launched a new generation temperature transmitter for various sensor types that provide results in extreme temperatures up to -5 degrees Celsius. It uses 4 wire connections for both sensors SITRANS TH420 and TR420 to increase data accuracy and reliability.
Key Target AudienceOil And Gas Sensors Manufacturers, Oil And Gas Industry, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
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