The report on “ Oil & Gas Sensors Market” is segmented Type (Pressure, Level, Flow,Temperature), Connectivity (Wired, Wireless), Application (Remote Monitoring, Condition Monitoring, Analysis), Sector (Upstream, Midstream, Downstream),and by region (North America, Europe, Asia Pacific, Middle East & Africa and South America).Global Oil & Gas SensorsMarketwas valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR XX % during the forecast period.
The pressure sensor type segment is expected to hold the largest market share by 2026.
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.
The downstream segment is expected to grow at the fastest rate during the forecast period.
Downstream sector includes refining of petroleum crude oil, processing and purifying natural gas, and distribution of products derived from crude oil and natural gas. Asia Pacific is the largest consumer of oil & gas sensors, with oil & gas investment increasing in countries such as India, China, and Japan.
Wireless sensor accounts 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.
The Asia Pacific region is projected to account for the largest market shares during the forecast period.
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.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies are Honeywell, Emerson, Lord, Siemens, ABB Ltd, Fortive, Rockwell, Indutrade, MTS Sensor, echnology GmbH & Co. Kg, General Electric (GE), BD Sensors, Bosch, and TE Connectivity.
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global Oil & Gas Sensorsmarket. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global Oil & Gas Sensorsmarket. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Oil & Gas Sensorsmarket positioning of competitors.
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