The process automation and instrumentation market is expected to be worth USD 67.4 billion in 2020 and is projected to reach USD 76.8 billion by 2025, at a CAGR of 2.6%. The factors that are driving the growth of the market include importance of energy efficiency and cost reduction, IIoT for enhancing the digitalization in process automation, and emphasis on industrial automation and optimum utilization of resources.
The process
automation and instrumentation market is becoming increasingly important due to
the need for automated solutions for carrying out processes in industries such
as food & beverages, pharmaceuticals, energy & power, metals &
mining, oil & gas, pharmaceuticals, pulp & paper, water &
wastewater, and others. Growing demand for process automated solutions, need for
increased production and efficiency, and requirement for real-time measurement
and control of process variables to maximize profitability while ensuring
quality and safety are the factors driving the need for process automation and
instrumentation solutions.
The process automation
and instrumentation market for the pharmaceuticals industry is expected to grow
at the highest CAGR from 2020 to 2025. Increasing competition in the industry
and legistations related to this industry, growing importance of providing
precision measuring equipment to provide accurate dosage of medicine, rising
need for process automation solutions in various processess such as
manufacturing, testing, drug development, packaging and distrubution are likely
to propel the growth of process automation and instrumentation solutions in the
pharmaceutical industry. Moreover, the involvement of complex manufacturing
processes such as milling, granulation, coating, tablet pressing in
pharmaceutical companies propel the need for process automation solutions,
which, in turn, drive the growth of the process automation and instrumentation
market. The pharmaceuticals industry is the most active sector in the current
market situation. Though this industry is not expected to have any negative
impact on COVID-19, it will face a moderate effect of this virus outbreak. The
majority of active pharmaceutical ingredients (API) and generics are developed
in China and India. As both these countries are currently limiting production
and avoiding exports owing to the situation, it has resulted in severe
disruption in the supply chain, affecting the production of pharmaceuticals in
these countries
The market for HMI
is expected to grow at the highest CAGR from 2020 to 2025. The role of HMI is
to deliver information to operators, allowing them to run and maintain machines
or processes, and optimize the running of the equipment. The level of
interaction has increased exponentially with the advent of graphical displays
and supporting interface software. An HMI system is integrated with SCADA (to
acquire data) or PLCs (to control the machines). HMI helps process industries
to closely monitor the production process and quickly respond to changing
production demands to improve operational efficiency and decrease unplanned
downtime.
The market for
control valves is expected to grow at the highest CAGR from 2020 to 2025. The
rising demand for energy and increasing government initiatives pertaining to
flow control projects such as gas pipelines and water distribution is
positively impacting the growth of control valves. Further, the need for direct
control of flow rate and the consequential control of process quantities such
as pressure, temperature, and liquid level are the factors driving the control
valves market.
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The process
automation and instrumentation market in APAC is expected to grow at the
highest CAGR from 2020 to 2025. The growing demand for oil & gas and food
& beverages in APAC due to growing needs of increasing population and
increased industrialization in this region are the major factors driving the
said market in APAC. The process automation and instrumentation market in APAC
has been studied for China, Japan, India, and the Rest of APAC, however, in the
section below, the detailed analysis of the market in China, Japan, and India
has been provided. Rapid industrialization in APAC has boosted the
manufacturing sector in APAC. The countries of APAC considered in this study
have the presence of a large number of small- and mid-sized enterprises (SMEs).
However, the outbreak of COVID-19 has significantly affected the manufacturing
sector of APAC. As the neighboring countries are linked to one another through
trade relations and supply chain, the entire region is affected by the outbreak
of COVID-19.
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