Oil & Gas Terminal Automation Market to Propel by Accounting for CAGR of 7.8% between 2022 and 2032 Attributing to its Reduced Operational Costs – Future Market Insights, Inc.

FMI_Logo

Oil & gas terminal automation market in China is projected to grow at 7.1% CAGR during the forecast period from 2022 and 2032. Europe oil & gas terminal automation market is anticipated to grow with a CAGR of more than 6% throughout the forecast period

NEWARK, Del., Sept. 15, 2022 /PRNewswire/ — The global oil & gas terminal automation market is predicted to create an opulent growth opportunity by exhibiting a robust CAGR of 7.8% between 2022 and 2032. The market size was valued at US$ 1258.0 Mn in 2021 and is likely to surpass a valuation of US$ 1303.1 Mn in 2022.

The global oil & gas terminal automation market is expected to total around US$ 2761.6 Mn by 2032. According to Future Market Insights (FMI) analysis, the historical valuation of the market ranging from 2015 to 2021, witnessed a moderate growth rate of 4.5% CAGR.

However, due to the growing focus on updating and advancing terminal infrastructure, the oil and gas terminal automation market is anticipated to grow at a healthy CAGR of 7.8% between 2022 and 2032. 

According to EIA, the global consumption of petroleum and liquid fuels is expected to average between 99.4 million in 2022. The global market has witnessed increased investment in the modernization of the oil and gas terminal infrastructure.

Developed countries such as U.S. and Canada are concentrating more on integrated packaging solutions that cater to the application-specific requirements of terminal end users.

Download Sample Copy of Report @

https://www.futuremarketinsights.com/reports/sample/rep-gb-197  

Key Takeaways

  • As several terminal operations increase globally, end users are actively searching for ways to increase their productivity and efficiency while simultaneously meeting customer demands. This has helped in bringing the oil & gas terminal automation market into the spotlight.
  • Oil & gas terminal automation refers to the use of technology and systems that are used to automate various manual processes in a terminal, especially around load authorization, product movement, product measurement, documentation, and reporting. Such effective solutions help industries to improve safety, efficiency, and overall productivity while also trimming down costs.
  • Rising demand for energy all over the world is making oil & gas terminal automation solutions popular among consumers with increasing investments that help in providing a strong thrust to the growth of the oil & gas terminal automation market across the forecast period.
  • The present-day terminals are anticipated to handle higher traffic, bigger ships, and more capacity. In order to maintain their profitability and competitiveness, terminal operators ought to streamline their company operations for further growth.
  • Currently, the oil & gas terminal automation market forms about 23-26% of its parent market which is the global terminal automation market. Owing to the increased focus on the reduction of operational costs, the contemporary oil & gas industry is searching for ways to better deal with the effects of price fluctuations. Thus, the global oil & gas terminal automation market is projected to exhibit impressive growth.
  • The rising implementation of advanced systems has produced sophisticated wireless technologies that could result in significant savings on the basis of wiring, labor, and other associated costs, which are increasingly adopted across key facilities.

Competitive Landscape

Key market players are focusing on forming long-term relationships with other prominent end users. Furthermore, companies are offering customizable solutions in order to meet customer demands with a high degree of optimization in the storage and transportation of petroleum.

Before Buying, Visit for Customization @

https://www.futuremarketinsights.com/customization-available/rep-gb-197  

Key Segments Covered in Oil & Gas Terminal Automation Industry Analysis

By Hardware:

  • ATG
  • Blending Controllers
  • SCADA
  • PLC
  • DCS
  • HMI
  • Safety; Security & Others

By Software:

  • Terminal & Inventory Management
  • Business System Integration
  • Transaction Management
  • Reporting
  • Others

By Services:

  • Commissioning
  • Consulting Services
  • Project Management
  • Operations Services
  • Training Services

More Insights into the Oil & Gas Terminal Automation Market

The U.S. is expected to dominate the North American oil & gas terminal automation market in 2022 by accounting for a total of 77% of the total market share. The North American region is poised to grow at a surging rate across the assessment period.

Owing to the rising investments by governments, widespread adoption of automation and the strong presence of leading market players in the market are expected to propel the U.S. oil & gas terminal automation market.

According to FMI projections, the oil & gas terminal automation market in China is projected to grow at a 7.1% CAGR during the forecast period from 2022 and 2032. Attributed to the rising focus on reducing oil imports, the growing need for improving productivity across oil & gas facilities, and favorable government support are some of the key factors driving demand in the market. 

Contact Sales for Further Assistance in Purchasing this [email protected] 

https://www.futuremarketinsights.com/checkout/197  

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand Side Trends

    1.3. Supply Side Trends

    1.4. Technology Roadmap

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Key Market Trends

    3.1. Key Trends Impacting the Market

    3.2. Product Innovation / Development Trends

4. Key Success Factors

    4.1. Product Adoption / Usage Analysis

    4.2. Product USPs / Features

    4.3. Strategic Promotional Strategies

5. Global Oil & Gas Terminal Automation Demand Analysis 2015-2021 and Forecast, 2022–2032

    5.1. Historical Market Volume Analysis, 2015-2021

    5.2. Current and Future Market Volume Projections, 2022–2032

    5.3. Y-o-Y Growth Trend Analysis

To Continue TOC…    

Explore FMI’s Extensive Ongoing Coverage on Industrial Automation Domain   

Process Automation and Instrumentation Market Size: The global process automation and instrumentation market size reached US$ 59,841.1 Mn in 2021 and it is likely to touch a valuation of US$ 62,354.4 Mn in 2022.  The overall demand for process automation and instrumentation is projected to grow at 5.0% CAGR between 2022 and 2032, surpassing a valuation of US$ 101.6 Bn by 2032.

Factory Automation And Industrial Controls Market Value: The global factory automation and industrial controls market is expected to be valued at US$ 130.84 Billion in 2022. The overall demand for Factory Automation and Industrial Controls is projected to grow at a CAGR of 5.2% between 2022 and 2032, totaling around 216.65 Billion by 2032.

Bulk Terminals Market Overview: Dynamic markets that are fueling the demand for raw materials require operators and owners to complement effectiveness and flexibility of their high-investment bulk assets. Advanced supply chains accent for sustainable incursion of digital ecosystem and automation of manufacturing methods. 

Automated Parcel Delivery Terminals Market Trends: Market study estimates the value of the global market for automated parcel delivery terminals at US$ 639.9 Million in 2021 and is expected to grow at a compound annual growth rate of 10.9% by 2032, reaching US$ 2.0 Billion from US$ 720 Million in 2022.

Industrial Air Compressor Market Analysis:  The global industrial air compressor market is expected to be valued at US$ 33.3Billion in 2022. With the increasing use in end-use industries the demand for industrial air compressors is projected to grow at a CAGR of 3.8% between 2022 and 2032, totaling around US$46.6 Billion by 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us    

Future Market Insights Inc.          

Christiana Corporate,          

200 Continental Drive,          

Suite 401, Newark,          

Delaware – 19713, USA          

T: +1-845-579-5705          

For Sales Enquiries: [email protected]    

Report: https://www.futuremarketinsights.com/reports/global-oil-gas-terminal-automation-market          

Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg

Cision View original content:https://www.prnewswire.com/news-releases/oil–gas-terminal-automation-market-to-propel-by-accounting-for-cagr-of-7-8-between-2022-and-2032-attributing-to-its-reduced-operational-costs–future-market-insights-inc-301624441.html

SOURCE Future Market Insights

Leave a Reply

Your email address will not be published.