Oil and gas terminals, often termed as oil and gas depots, tank farms or tank terminals, facilitate storage of oil, gas and related products. These are thus, intermediate hubs which store and facilitate the distribution of oil and gas to end users. Oil & gas terminal automation systems are integrated solutions which facilitate easier monitoring and control of various product handling operations, from receipt of products through storage and distribution. These systems comprise a set of integrated tools that enable access to real-time data, thus ensuring safety and efficient management of day-to-day terminal operations.
The global oil and gas terminal automation market is forecast to register a CAGR of 7.1% in terms of value over the forecast period (2016-2026) driven primarily by relatively low oil prices and increasing demand for natural gas from a diverse set of industries.
Growth in the demand for natural gas, supply-demand scenario and contango situation are expected to drive growth of global oil and gas terminal automation market during the forecast period
Relatively slower economic growth especially in oil consuming nations such as China, and crude oil supply glut experienced over the recent past have driven the global average crude oil prices southwards over the same period. Initial phase of forecast period is thus expected to be characterised by a contango situation resulting in increasing emphasis on storage of oil across the globe. Moreover, increasing demand for natural gas, especially liquefied natural gas is expected to result in emergence of several new terminals in North America and Asia Pacific, among other regions.
However, relatively higher costs associated with implementation of automation systems is expected to act as an impediment to the growth of global oil and gas terminal automation market during the forecast period. Besides, cyber threats and concerns associated regarding data security are likely to impede growth in adoption of such automation systems, especially among small terminal operators.
Software segment is estimated to account for a relatively higher share in overall global oil and gas terminal automation market value as compared to that of services segments during forecast period
Software segment is estimated to account for a share of 37.8% in overall global oil and gas terminal automation market value in 2016. It is expected to register a CAGR of 7.2% during the forecast period, 2016-2026. The segment is expected to dominate global oil and gas terminal automation market throughout the forecast period. Terminal and inventory management sub-segment of software segment is expected to relatively faster growth among other software sub-segments during the forecast period.
Asia Pacific excl. Japan and North America are expected to dominate the global oil and gas terminal automation market during forecast period
Surplus oil and gas production in North America, especially, in U.S. has, over the recent past, driven the growth in investment towards setting up of oil and gas export facilities in the region. Such a situation is expected to continue during forecast period, thus driving growth of oil and gas terminal automation market in the region during forecast period. Oil and gas terminal automation market in Asia Pacific excl. Japan region is expected to witness relatively faster growth, registering a CAGR of 8.8% during forecast period, in order to account for a share of nearly 32% in overall market value by 2026 end.
Key players in the global oil and gas terminal automation market are focussing on mergers and acquisitions strategy in order to better equip themselves to cater to steadily growing market demands
Some of the players operating in global oil and gas terminal automation market include, Yokogawa Electric Corporation, Emerson Electric Co., Honeywell International Inc., Rockwell Automation, Inc., ABB Group, Siemens AG, Schneider Electric SE, and FMC Technologies, Inc.
The report “Oil and Gas Terminal Automation Market: Global Industry Analysis and Opportunity Assessment, 2016–2026” offers a 10-year forecast for the global oil and gas terminal automation market for the period of 2016–2026. The report studies the oil and gas terminal automation market across six key regions of the globe, including North America, Latin America, Asia Pacific excl. Japan, Middle East & Africa, Europe and Japan. The report covers key factors driving the growth of the market, trends and developments shaping the dynamics of the market and other insights across key segments.
This Future Market Insights report examines the global oil and gas terminal automation market for the period 2016–2026 in terms of value. The primary objective of the report is to offer updates on developments in the oil & gas terminal automation market and quantification of revenue generation from oil and gas terminal automation across various categories and country/ regional market segments.
On the basis of categories, the global oil and gas terminal automation market is segmented into:
The report starts with the oil and gas terminal automation market overview and provides market definition and overview of category based segments for global oil and gas terminal automation market. The sections that follow include market analysis and forecast, by category and by region, country level. All the above sections evaluate the market on the basis of various factors affecting the market, covering present scenario and future prospects. For market data analysis, the report considers 2015 as the base year, with market numbers estimated for 2016 and the forecast made for 2016–2024.
In the final section of the report, a competitive landscape has been included to provide a dashboard view of key companies operating in the global oil and gas terminal automation market. This section is primarily designed to provide clients with an objective and comparative assessment of key providers specific to a market segment in the global oil and gas terminal automation market. The section also includes market strategies and SWOT analysis of the main players operational in the global oil and gas terminal automation market.
To quantify the market size, an elaborate research methodology comprising in-depth secondary research and number of primary interviews have been done followed by triangulation of the data thus gathered. Further, data inputs such as market split by categories, and qualitative inputs from industry experts have been taken into consideration before concluding the market estimates. Each region based section highlights the oil and gas terminal automation market based on different categories in that region. To give a brief idea about revenue opportunities from various services and region/ country, the report also provides absolute $ opportunity and total incremental opportunity for each segment over the forecast period.
The market size estimation is carried out through multiple top-down and bottom-up approaches. Crude oil production data – historical and forecast, is benchmarked to identify relative shares in the market and the market data range, thus received, has been validated by primary resources. Moreover, Infrastructure investments, indicative share of automation in overall investment and upcoming terminals related data has been considered to determine the respective market share and corresponding growth rates.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of oil and gas terminal automation solution providers are also included within the scope of the report in order to help evaluate strategies, key recent developments in the global market.