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The global process automation market has North America and Europe as the high maturity markets while the Asia Pacific is a medium maturity market. The market is driven by robust technological change and the rising focus on productivity. Europe is the leading market in terms of potential growth, accounting for 35% of the overall process automation market share in the year 2020.
Process automation is referred to the applications, such as measurement, electrification, control, and other applications, which are used to achieve continuous production. The market for process automation is fragmented and catering to many industries, like oil and gas, mining, paper and pulp, and cement, among others. These industries have large end-user segments. Process automation is a prolonged process of converting raw material into finished products. The process automation suppliers offer measurement, actuators, sensors, and process controllers (DCS).
ABB Ltd. (NYSE: ABB) and Emerson Electric Co. (NYSE: EMR) are some of the key players in the global process automation market. In October 2018, ABB included ABB Ability™ Collaborative Operations to its category of service deliverables at a distinguished paper mill in East Java, Indonesia. The site manufactures a range of printing and writing papers, as well as other paper-related products and packaging products such as cardboard boxes. The collaborative operations of ABB will help enable the leading paper producer in Indonesia to augment mill operations. It also ensures that the ABB operations positively influence daily mill operations to make sure that over the years, the result continues and improves.
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ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Siemens AG, Rockwell Automation, Inc., and General Electric Company, among others, are the key players in the global process automation market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
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