$9.4 Billion Oil & Gas Sensors (Pressure, Level, Flow,Temperature) Market - Global Forecast to 2023

Dublin, Nov. 16, 2018 (GLOBE NEWSWIRE) -- The "Oil & Gas Sensors Market by Type (Pressure, Level, Flow,Temperature), Connectivity (Wired, Wireless), Application (Remote Monitoring, Condition Monitoring, Analysis), Sector (Upstream, Midstream, Downstream), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The oil & gas sensors market is expected to grow from USD 7.4 billion in 2018 to USD 9.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 4.8%, from 2018 to 2023.

The oil & gas sensors market is driven by various factors, such as increasing adoption of ultrasonic sensors and increasing demand for sensors due to refining capacity additions. However, rising investments in the renewable sector can hinder the growth of the oil & gas sensors market.

"Pressure sensors segment is expected to grow at a higher CAGR during the forecast period"

Pressure sensors segment is the fastest growing segment in the oil & gas sensors market. This sensor is used to measure the pressure of gases or liquids. They are used to provide accurate and reliable data to detect small changes in the pressure usually in the upstream and midstream sector. Hence, increasing use of pressure sensors for upstream and midstream applications is expected to result in the highest CAGR of pressure sensors segment.

"Remote monitoring segment is expected to hold the largest market share during the forecast period"

Remote monitoring includes pipeline integrity monitoring, tank level monitoring, equipment-based condition monitoring (CBM), pipeline Pressure Relief Valve monitoring, refineries Pressure Relief Valve monitoring, wellhead automation, and monitoring. Remote monitoring can reduce the maintenance cost in marine environments, which are mostly corrosive and require more maintenance.

"Asia Pacific is expected to record the highest growth rate during the forecast period"

Asia Pacific is expected to have the highest growth rate during the forecast period because of the increasing energy consumption in the region. The oil demand in Asia Pacific would grow by an average of 2% annually by 2023. This would be driven by the rising consumption of petrochemical materials such as ethane and naphtha. It is projected that Asia Pacific would account for roughly 60% of the global oil product demand growth in the next 5 years.

The oil & gas sensors market comprises major solution providers, such as Emerson (US), ABB (Switzerland), GE (US), Indutrade (Sweden), BD sensors (Germany), Lord (US), MTS Sensors (US), Bosch (Germany), Rockwell (US), TE Connectivity (Switzerland), Fortive (US), and Siemens (Germany). The study includes an in-depth competitive analysis of these key players in the oil & gas sensors market, with company profiles, recent developments, and key market strategies.

Recent Developments

• In May 2018, Siemens introduced a new generation temperature transmitter for various sensor types that provide results in extreme temperatures up to -5 degree Celsius. It uses 4 wire connection for both sensors SITRANS TH420 and TR420 to increase data accuracy and reliability.
• In March 2018, ABB expanded its operations network with a new collaborative operations center for the oil, gas, and chemical industries in Norway.
• In May 2017, Emerson introduced a new platform for its Rosemount X-well technology for surface sensing temperature measurement solutions.
• In May 2016, Fortive (Gems Sensors) launched a new Ultrasonic Level Sensor, XLS-1. The ultrasonic sensing technology enables the level sensor to sense oil, water, and harsh chemicals, while ignoring foam and condensation.

Key Questions addressed by the report

• The report identifies and addresses key markets for oil & gas sensors, which would help manufacturers review the growth in demand.
• The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
• The report will help key players understand the strategies of their competitors better and make better strategic decisions.
• The report addresses the market share analysis of key players in oil & gas sensors market, and with the help of this companies can enhance their revenues in the respective market.
• The report provides insights about emerging geographies for oil & gas sensors, and the entire market ecosystem can gain competitive advantage from such insights.
  

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Oil & Gas Sensors Market, By Country
4.2 Oil & Gas Sensors Market, By Connectivity
4.3 Oil & Gas Sensors Market, By Type
4.4 Oil & Gas Sensors Market, By Application
4.5 Oil & Gas Sensors Market, By Sector
4.6 Asia Pacific Oil & Gas Sensors Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Adoption of Ultrasonic Sensors
5.2.1.2 Increasing Demand for Sensors Due to Refining Capacity Additions
5.2.1.3 Growing Iot in Oil & Gas Industry
5.2.2 Restraints
5.2.2.1 Rising Investment in the Renewable Sector Would Affect the Demand for Sensors
5.2.3 Opportunities
5.2.3.1 Increasing Unconventional Drilling Techniques Such as Mpd and Directional Drilling
5.2.3.2 Growing Offshore Investments
5.2.4 Challenges
5.2.4.1 Low Acceptance Level Toward Adopting New Technologies

6 Oil & Gas Sensors Market, By Type
6.1 Introduction
6.2 Pressure Sensor
6.2.1 34
6.3 Temperature Sensor
6.4 Level Sensor
6.5 Flow Sensor
6.6 Others

7 Oil & Gas Sensors Market, By Application
7.1 Introduction
7.2 Remote Monitoring
7.2.1 Asia Pacific is Projected to Be the Largest Market for Remote Monitoring
7.3 Condition Monitoring & Maintenance
7.3.1 North America is Projected to Be the Fastest Growing Market for Condition Monitoring & Maintenance
7.4 Analysis & Simulation
7.4.1 North America is Expected to Hold the Largest Market Share

8 Oil & Gas Sensors Market, By Connectivity
8.1 Introduction
8.2 Wired
8.2.1 North America is Expected to Be the Fastest Growing Market
8.3 Wireless
8.3.1 Wireless is Expected to Be the Fastest Growing Segment

9 Oil & Gas Sensors, By Sector
9.1 Introduction
9.2 Upstream
9.3 Midstream
9.4 Downstream

10 Oil & Gas Sensors Market, By Region
10.1 Introduction
10.2 North America
10.2.1 By Sector
10.2.2 By Type
10.2.3 By Connectivity
10.2.4 By Application
10.2.5 By Country
10.2.5.1 US
10.2.5.2 Canada
10.2.5.3 Mexico
10.3 Asia Pacific
10.3.1 By Sector
10.3.2 By Application
10.3.3 By Type
10.3.4 By Connectivity
10.3.5 By Country
10.3.5.1 China
10.3.5.2 Japan
10.3.5.3 India
10.3.5.4 Australia
10.3.5.5 Rest of Asia Pacific
10.4 Europe
10.4.1 By Sector
10.4.2 By Type
10.4.3 By Connectivity
10.4.4 By Application
10.4.5 By Country
10.4.5.1 Russia
10.4.5.2 Norway
10.4.5.3 Germany
10.4.5.4 UK
10.4.5.5 Italy
10.4.5.6 Rest of Europe
10.5 Middle East & Africa
10.5.1 By Sector
10.5.2 By Type
10.5.3 By Connectivity
10.5.4 By Application
10.5.5 By Country
10.5.5.1 Saudi Arabia
10.5.5.2 Iran
10.5.5.3 Algeria
10.5.5.4 Kuwait
10.5.5.5 Rest of Middle East & Africa
10.6 South America
10.6.1 By Sector
10.6.2 By Application
10.6.3 By Type
10.6.4 By Connectivity
10.6.5 By Country
10.6.5.1 Brazil
10.6.5.2 Argentina
10.6.5.3 Venezuela
10.6.5.4 Rest of South America

11 Competitive Landscape
11.1 Introduction
11.2 Market Share Analysis
11.3 Competitive Scenario
11.3.1 New Product Launches
11.3.2 Mergers and Acquisitions
11.3.3 Expansions and Investments

12 Company Profiles
12.1 Benchmarking

13 Company Profiles

• ABB Ltd
• BD Sensors
• Bosch
• Emerson
• Fortive
• General Electric (GE)
• Honeywell
• Indutrade
• Lord
• MTS Sensor Technologies GmbH
• Rockwell
• Siemens
• TE Connectivity

For more information about this report visit https://www.researchandmarkets.com/research/f7qqv9/9_4_billion_oil?w=12

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                    Related Topics: Oil, Gas and Chemical Sensors