Sensor Market in Oil & Gas Industry Expected to Grow by $1.73 Billion

Analysis of the main players in the market

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

Amphenol Corp. – The company offers sensor product brands such as Telaire and SGX Sensortech.

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

To know more about the other vendors operating in the Oil and Gas Sensors Market, View our report preview

Parent Market Analysis

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

market engine

The increase in LNG trading is one of the key factors driving the growth of the sensor market in the oil and gas industry. Different countries are trying to increase the share of natural gas in their energy mix, which increases the demand for LNG. Additionally, cross-border disputes and geopolitical tensions around pipelines have renewed interest in LNG as a transportation fuel. On the supply side, investments in LNG infrastructure increased in Australia, Qatar, Africa, Russiaand the United States. Asia is the demand leader in LNG import markets due to the growth of new LNG regasification facilities. Furthermore, China plans to increase its regasification facilities to add approximately 26 MTPA by 2023.

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Sensors Market in Oil and Gas Industry 2022-2026: Segmentation

The cable segment will witness significant growth in its market share over the forecast period. The growth is attributed to increased exploration and production activities in the industry, which would increase the installation of sensors for accurate monitoring of the entire operation. Additionally, wired sensors have high reliability, as they are directly tied to the device receiving the input. This, in turn, will boost the wired sensor market over the forecast period.

  • Geography
    • APAC
    • North America
    • Europe
    • AEM
    • South America

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

Discover the contribution of each market segment, See our free sample

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Sensor market in the oil and gas industry

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 4.04%

Market Growth 2022-2026

$1.73 billion

Market structure

Fragmented

Annual growth (%)

3.47

Regional analysis

APAC, North America, Europe, MEA and South America

Successful market contribution

Asia-Pacific at 37%

Main consumer countries

United States, China, Russian Federation, Canada and Saudi Arabia

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

ABB Ltd., Amphenol Corp., Emerson Electric Co., Fortive Corp., General Electric Co., Honeywell International Inc., LORD Corp., Rockwell Automation Inc., RS Technics BV and Siemens AG

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents

Abstract

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

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

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
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Overview
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • ABB Ltd.
  • Amphenol Corp.
  • Emerson Electric Co.
  • Fortive Corp.
  • General Electricity Company.
  • Honeywell International Inc.
  • LORD Corp.
  • Rockwell Automation Inc.
  • RS Technics B.V.
  • Siemens AG

appendix

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

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