Sensors Market in Oil And Gas Industry to Grow by USD 1.73 bn | Technavio

NEW YORK, Feb. 16, 2022 /PRNewswire/ -- The sensors market in oil and gas industry is likely to grow by USD 1.73 billion from 2021 to 2026. The growth momentum of the market will accelerate at a CAGR of 4.04% during this period.

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Key Market Participants Analysis

ABB Ltd. - The company offers sensors products such as LMS 7100, MS10, and MS 50.

Amphenol Corp. - The company offers sensors product brands such as Telaire and SGX Sensortech.

Emerson Electric Co. - The company offers sensors products such as Rosemount 928 Wireless Gas Monitor and Rosemount 628 Universal Gas Sensor.

To learn about other vendors operating in the sensors market in oil and gas industry, View Our Report Snapshot

Parent Market Analysis

Technavio has categorized the global sensors market in the oil and gas industry as a part of the global electronic equipment and instruments market. This report has extensively covered external factors that are influencing the parent market growth potential in the coming years. These factors will determine the levels of growth of the sensors market in the oil and gas industry during the forecast period.

Market Driver

The increase in LNG trade is one of the key factors driving the sensors market growth in the oil and gas industry. Various countries are trying to increase the share of natural gas in their energy mix, which is increasing the demand for LNG. Moreover, cross-border disputes and the geopolitical tension over pipelines have renewed the interest in LNG as a transport fuel. On the supply side, investments in LNG infrastructure have been increasing in Australia, Qatar, Africa, Russia, and the US. Asia is leading the demand in LNG import markets owing to the growth in new LNG regasification facilities. Furthermore, China plans to increase its regasification facilities to add about 26 MTPA by 2023.

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Sensors Market In Oil And Gas Industry 2022-2026: Segmentation

• Type
• Wired
• Wireless

The wired segment will have significant market share growth during the forecast period. The growth is attributed to the increase in exploration and production activities in the industry, which would increase the installation of sensors for accurate monitoring of overall operations. Moreover, wired sensors have high reliability, as they are directly linked to the device that receives the input. This will, in turn, drive the market for wired sensors during the forecast period.

• Geography
• APAC
• North America
• Europe
• MEA
• South America

APAC will account for 37% of the market's growth during the forecast period. China and Russia are the key countries for the sensors market in the oil and gas industry in APAC. Moreover, market growth in this region will be faster than the growth of the market in other regions. The significant increase in the adoption of industrial automation in emerging countries such as India and China will drive the sensors market growth in the oil and gas industry in APAC during the forecast period.

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Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Type

• Market segments
• Comparison by Type
• Wired - Market size and forecast 2021-2026
• Wireless - Market size and forecast 2021-2026
• Market opportunity by Type

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2021-2026
• North America - Market size and forecast 2021-2026
• Europe - Market size and forecast 2021-2026
• MEA - Market size and forecast 2021-2026
• South America - Market size and forecast 2021-2026
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Amphenol Corp.
• Emerson Electric Co.
• Fortive Corp.
• General Electric Co.
• Honeywell International Inc.
• LORD Corp.
• Rockwell Automation Inc.
• RS Technics BV
• Siemens AG

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/

SOURCE Technavio

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