Global
Oil & Gas Sensors Market was valued US$ xx Bn in 2018 and expected to
reach US$ xx Bn by 2026, at a CAGR 5.2 % over the forecast period 2019-2026.
Oil and Gas industry is vital for the global economy.
Sensors play an essential role in the control and monitoring of the oil and gas
industry. Sensors are used in every step of the oil and gas industry; right
from oil and gas exploration to refinery. Sensors are used to monitor various
vital parameters which are crucial for stable and reliable operations. Sensors
are used in hazardous conditions where human intervention is not possible.
Sensors play an essential role in the safety of both man and machines. Factors
Such as an increasing adoption of ultrasonic sensors, increasing demand for
sensors due to refining capacity additions are propelling the global oil &
gas sensors market growth. Further, growing IoT in the oil & gas industry
is also propelling the global oil & gas sensors market. Increasing
unconventional drilling techniques such as Mpd and directional drilling posing
a prominent business opportunity for the Oil & Gas Sensors manufacturers to
increase their sales in the coming years. However, there are some challenges
that will hinder the growth of the market such as rising investment in the
renewable sector would affect the demand for sensors.
By type, the pressure sensor type segment leading the global
market with 38% market share over forecast period. A pressure sensor usually acts as a
transducer, it senses the pressure and converts it into an electric signal.
Further, Pressure sensors are also used to measure gauge pressure on casing and
tubing on wellheads and on separator vessels. This allows the operator to
rapidly adjust the flow pressure during the drilling operations, resulting in
optimizing oil withdrawal rates and deal with conditions such as gas bubbles to
increase the safety of the workers working in drilling operations. Increased
focus on augmenting production from oil & gas wells and improved economic
and operational benefits provided by technology is anticipated to drive the
pressure sensor market.
By connectivity, the Wireless connectivity sensors account
for the largest market share during the forecast period. Wireless sensors have
a growing demand as they eliminate cables, resulting in reduced installation,
operating costs and maintenance cost. Moreover, wireless sensors have a wide
variety of applications in the oil & gas industry varying with different characteristics
and requirements.
Geographically, The Asia Pacific is expected to exhibit
higher growth between 2018 and 2026 owing to increasing adoption of industrial
automation in emerging countries such as India and China are some of the key
factors behind the growth of the oil & gas sensors market in this region.
Moreover, according to IBEF, ONGC (India) is investing USD 2.73 Bn on drilling
oil & gas wells from 2018 to 2019. Furthermore, Saudi Aramco is planning to
invest in the downstream sector in India. Such factors would drive the oil and
gas sensors to advertise in the country.
Report covers key developments and company profiles of major
key players. Some of the key players operating in this market are Honeywell,
Emerson, Lord, Siemens, ABB Ltd, Fortive, Rockwell and Indutrade. These key
players exhibit near about 75-80% of global market share. By using various
organic and inorganic growth strategies such as joint ventures, merger and
acquisition, expansion, patent, new product launches, and strategic alliances
these players are increasing their regional presence and business operations.
The objective of the report is to present a comprehensive
assessment of the market and contains thoughtful insights, facts, historical
data, industry-validated market data and projections with a suitable set of
assumptions and methodology. The report also helps in understanding Global Oil
& Gas Sensors Market dynamics, structure by identifying and analyzing the
market segments and project the global market size. Further, report also
focuses on competitive analysis of key players by product, price, financial
position, product portfolio, growth strategies, and regional presence. The
report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address
questions of shareholders to prioritizing the efforts and investment in near
future to emerging segment in Global Oil & Gas Sensors Market.
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Scope of Global Oil & Gas Sensors Market
Global Oil & Gas Sensors Market, by Type
• Pressure
• Level
• Flow
• Temperature
Global Oil & Gas Sensors Market, by Connectivity
• Wired
• Wireless
Global Oil & Gas Sensors Market, by Application
• Remote Monitoring
• Condition Monitoring
• Analysis
Global Oil & Gas Sensors Market, by Sector
• Upstream
• Midstream
• Downstream
Global Oil & Gas Sensors Market, By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Key Players Operating the Global Oil & Gas Sensors
Market
• Honeywell
• Emerson
• Lord
• Siemens
• ABB Ltd
• Fortive
• Rockwell
• Indutrade
• MTS Sensor Technology GmbH & Co. Kg
• General Electric (GE)
• BD Sensors
• Bosch
• TE Connectivity
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