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DUBLIN – (BUSINESS WIRE)–The "Oil
Gas and gas sensors by type (pressure, level, flow, temperature),
Connectivity (wired, wireless), application (remote monitoring,
State Monitoring, Analysis), Sector (Upstream, Midstream,
Downstream) and by Region – Global Forecasts to 2023 " report
been added to ResearchAndMarkets.com & # 39; s offer.
"The increase in the number of ultrasonic sensors should
drive the global market for oil and gas sensors "
The oil and gas sensor market is expected to grow by $ 7.4 billion in
2018 to USD 9.4 billion by 2023, at a compound annual growth rate (CAGR)
4.8%, from 2018 to 2023.
The market for oil and gas sensors depends on various factors, such as:
the increasing adoption of ultrasonic sensors and the growing demand for
sensors due to the increase in refining capacity. However, the increase in investments
in the renewable energy sector can hinder the growth of oil and gas sensors
market.
"The pressure sensor segment is expected to grow faster
CAGR during the forecast period "
The pressure sensor segment is the fastest growing segment of the oil and gas sector
sensor market. This sensor is used to measure the gas pressure or
liquids. They serve to provide accurate and reliable data to detect
small variations in pressure usually upstream and downstream
sector. As a result, the increasing use of pressure sensors for upstream and downstream systems
Intermediate applications should result in the highest CAGR of
segment of pressure sensors.
"The remote monitoring segment should contain the largest
market share during the forecast period "
Remote monitoring includes monitoring the integrity of the pipeline, the level of the reservoir
monitoring, monitoring of the state of the equipment (CBM), pipeline
Relief valve monitoring, refineries Relief valve
monitoring, automation of the wellhead and monitoring. Remote monitoring can
reduce maintenance costs in the marine environment, mainly
corrosive and require more maintenance.
"The Asia Pacific should record the highest growth rate
during the forecast period "
The Asia-Pacific region is expected to post the highest growth rate during the
forecast period due to increasing energy consumption
Region. Demand for oil in Asia-Pacific would increase by an average of 2%
every year by 2023. This would be due to the growing consumption of
petrochemicals such as ethane and naphtha. It is projected that
The Asia-Pacific region accounts for about 60% of the world's petroleum product
growth in demand over the next 5 years.
Market dynamics
The drivers
-
Increasing adoption of ultrasonic sensors
-
Increased demand for sensors due to increased refining capacity
-
IoT growth in the oil and gas industry
constraints
-
Rising investment in the renewable energy sector would affect demand for
sensors
opportunities
-
Increased unconventional drilling techniques such as MPD and
Directional drilling -
Increasing offshore investments
challenges
-
Low level of acceptance towards the adoption of new technologies
Key topics covered
1. Introduction
2 Research Methodology
3 Summary
4 Premium Insights
5 Market Overview
6 market for oil and gas sensors, by type
7 market for oil and gas sensors, by application
8 market for oil and gas sensors, by connectivity
9 market for oil and gas sensors, by sector
10 market for oil and gas sensors, by region
11 competitive landscape
12 Company Profiles
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ABB Ltd.
-
BD Sensors
-
Bosch
-
Emerson
-
Fortive
-
General Electric (GE)
-
Honeywell
-
Indutrade
-
Lord
-
MTS Sensor Technologies GmbH
-
Rockwell
-
Siemens
-
TE Connectivity
For more information on this report, visit https://www.researchandmarkets.com/research/kr32x3/9_4_billion?w=4.
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