Insights on the Process Instrumentation Global Market to 2026 – Featuring Honeywell International, Siemens and Omron Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Process Instrumentation Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The process instrumentation market is expected to register a CAGR of 3.35% over the forecast period, 2021 – 2026.
Companies Mentioned
- Honeywell International Inc.
- Siemens AG
- Omron Corporation
- ABB Ltd.
- Rockwell Automation Inc.
- Mitsubishi Electric Corporation
- Emerson Electric Company
- Danaher Corporation
- Metso Corporation
- Yokogawa Electric Corporation
- Endress+ Hauser AG
Key Market Trends
Water and Wastewater Treatment is Expected to Witness the Highest Growth
- The current challenges of water availability and sustainability are largely attributed to an enormous increase in demand. However, the Environmental Protection Agency (EPA) claims that over one trillion gallons of water is wasted annually due to household leaks. It is not uncommon for drinking water distribution networks to experience losses greater than 50%.
- The use of instrumentation is becoming increasingly important in the water industry as it is not just used for monitoring purposes but control of processes too. With the advent of the smart water industry, there is a huge potential to use instrumentation and data-based control systems to make large efficiencies on both water and wastewater systems.
- The Water and Wastewater industry faces a huge pressure to deliver more for less due to population growth, climate change, and increasing quality demands of the natural environment versus the pressures to reduce carbon emissions for a less costly service. Companies are adopting process instrumentation to deliver these efficiencies.
- Moreover, the US Environmental Protection Agency (EPA) has accelerated investment in the nation’s aging water infrastructure. The EPA has issued seven WIFIA loans to help finance over USD 4 billion, in water infrastructure projects which is likely to propel the growth of process instrumentation market in the industry.
Asia Pacific to Emerge as the Fastest Growing Market
- Asia Pacific is projected to have fastest growth, owing to rapidly increasing industrial activities, rising cost pressure and production rate, and favourable government policies in developing nations such as China, and India in this region.
- The active role of governments in educating the masses regarding the benefits of technology and rising funds being diverted towards the adoption of technologically advanced machineries in industries has been of prime importance for market growth in the region. In the next few years, the market will be driven by the thriving growth of key end-use industries such as metal and mining, chemical, food and beverages, oil and gas, and metal and mining.
- The water and wastewater management industry are dominating in many countries in the Asia-Pacific region. According to WHO, reducing wastewater generation and implementing on-site sewage and wastewater technology are two strategies that can improve wastewater management.
- Furthermore, the Water Environment Partnership in Asia (WEPA) also aims to contribute to improving the water environment, by offering information and knowledge necessary for the enhancement of water environment governance. These factors have significantly contributed to market growth in the region.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing demand for energy-efficient production processes
4.2.2 High level of efficiency with minimum cost
4.3 Market Restraints
4.3.1 Higher cost of research and development
4.3.2 Higher cost of implementation and maintenance of solutions and devices
4.4 Value Chain Analysis
4.5 Porters Five Force Analysis
5 MARKET SEGMENTATION
5.1 Instrument
5.2 Technology
5.3 End-User
5.4 Geography
6 COMPETITIVE LANDSCAPE
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/vmghil
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