The global process automation and instrumentation market size is expected to grow from USD 66.2 billion in 2022 to USD 86.6 billion by 2027, at a CAGR of 5.5%. The growth of this market can be attributed to the growing importance of energy efficiency and cost optimization, increased productivity, minimized errors and better scalability; the increasing use of digital technologies such as IIoT, machine learning, and artificial intelligence; and the rising emphasis on industrial automation and optimum utilization of resources. However, COVID-19 pandemic had a negative impact on the growth of various process industries which is likely to affect the demand for process automation and instrumentation products in some regions.
Key players operating in process automation and instrumentation market include major players operating in different stages in the entire value chain of process automation and instrumentation; these players are ABB Ltd (Switzerland), Emerson Electric Co. (US), Siemens (Germany), General Electric Company (US), and Schneider Electric (France).
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Top 5 Players in Process Automation and Instrumentation Market:
ABB Ltd. is a leading technology company that provides a wide range of products, such as control room solutions, metallurgy products, drives, PLC automation products, motors and generators, analytical measurement products, power converters and inverters, and robotics. The company operates through four business divisions: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation. The Industrial Automation segment offers high-performance and flexible solutions such as human–machine interface (HMI) devices, distributed control systems (DCS), advanced process control (APC) systems, and manufacturing execution systems (MES) for safer, smarter, and more sustainable industrial operations. The company’s products are used in diverse industries and applications, including cement, chemicals, pharmaceuticals, marine, turbocharging, renewable energy, material handling, machinery automation, water, metals & mining, pulp & paper, water, and data centers.
Emerson Electric Co.
Emerson Electric Co. (Emerson) manufactures electric motors and fans. The company was founded by John Wesley Emerson in 1988 and was established as the Emerson Electric Manufacturing Company in St. Louis, Missouri, US. Emerson is primarily engaged in manufacturing and developing process control systems, valves, and analytical instruments. It delivers products and services to industrial, commercial, and consumer markets. The company operates through two business segments: Automation Solutions and Commercial & Residential Solutions. The Automation Solutions segment offers a wide variety of industrial automation solutions and controls, including measurement and instrumentation products, valves, actuators and regulators, control and safety systems, and automation and control software. The company also offers SCADA systems, distributed control systems (DCS), programmable automation control systems such as PLC and PAC, and several other products for oil & gas, power, water, chemicals, food & beverages, pharmaceuticals, pulp & paper, metals & mining, and several other process industries.
Siemens is one of the leading industrial manufacturing companies in Europe. Siemens operates through four reportable segments—Digital Industries, Smart Infrastructure, Mobility, and Siemens Healthineers. The Digital Industries division offers a comprehensive portfolio of automation solutions that find applications in process industries. Automation solutions and software, industrial and numerical control systems, motors, drives and inverters, and integrated automation systems are the key products offered by the company through this segment. This division also provides process control systems; machine-to-machine communication products; sensors; and pressure, temperature, and level transmitters. Siemens also offers a wide range of solutions such as HMI, SCADA, PLC, functional safety, and MES for various process industries, including pharmaceuticals, chemicals, food & beverages, metals & mining.
General Electric Company
General Electric Company is an American multinational conglomerate headquartered in Boston, US. The company and its subsidiaries are more often known and called GE Group. General Electric Company’s major business segments are Aviation, Power, Healthcare, Capital, and Renewable Energy. The Power segment is further split into Gas Power and Power Portfolio. The Power Portfolio includes motors, generators, automation and control equipment drives for energy-intensive industries. General Electric Company offers process automation and instrumentation solutions through its Power Portfolio subsegment under the Power segment. The company’s solution offerings, including MES, HMI, SCADA, and DCS, are used by companies from the water & wastewater treatment, metals & mining, oil & gas, pharmaceuticals, life sciences, and energy & power industries.
Schneider Electric is a multinational company that provides digital energy and automation solutions (hardware and software) and related services to improve production efficiency and energy management and achieve sustainable manufacturing. Schneider Electric operates through two business segments: Energy Management and Industrial Automation. The company offers process automation and instrumentation products through its Industrial Automation segment. Through this segment, the company serves various industries, including oil & gas, cement, minerals, chemicals, water & wastewater treatment, metals & mining, food & beverages, and consumer packaged goods. The company offers analyzers, DCS, PLCs, SCADA systems, HMI devices, transmitters, valve positioners, and industrial communication systems in the process automation and instrumentation market. These products find applications in energy & power, construction, IT, and several other industries.
Process Automation and Instrumentation Market with COVID-19 Impact Analysis by Instrument (Field Instruments, Process Analyzers), Solution (PLC, DCS, SCADA, HMI, Functional Safety, MES), Industry and Region - Global Forecast to 2027
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