Jan 10, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Oil and Gas Sensors Market.
It was estimated prior to this unanticipated outbreak that the Oil and Gas Sensors Market is likely to witness a steady CAGR of 4.4% during the forecast period. The market is driven by the increasing demand for sensors, by the virtue of capacity additions in oil & gas refineries, globally.
Sensors have wide applications in oil & gas processing and production. These sensors can withstand the world’s most challenging environmental conditions, both on offshore and land, while providing precise and reliable performance. This report includes the market for all the sensors used in oil and gas production and processing.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the oil & gas sensors market is segmented as pressure sensor, temperature sensor, level sensor, flow sensor, and others. Pressure sensor is expected to be the largest segment, during the forecast period, owing to the increased focus on augmenting production from oil & gas wells and improved economic conditions and operational benefits provided by technology.
In terms of regions, Asia-Pacific is estimated to be the largest oil & gas sensors market during the forecast period. Increasing adoption of industrial automation in the emerging economies such as India and China is likely to drive the oil & gas sensors market in the region. China and India re the growth engines of the region.
Key players operating in the global Oil and Gas Sensors market are-
Honeywell International Inc.
Rockwell Automation Inc
GE Sensing & Inspection Technologies GmbH
MTS Sensor Technology GmbH & Co. Kg
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Oil and Gas Sensors analysis report discusses the following heads in great detail:
Market structure: Overview, industry life cycle analysis, supply chain analysis
COVID-19 Impact Assessment
Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
Market trend and forecast analysis
Market segment trend and forecast
Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
Attractive market segments and associated growth opportunities
Strategic growth opportunities for the existing and new players
Key success factors