Global Process Automation Market to Grow at a CAGR of 6.6% between 2024 and 2032.

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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Market Analysis by Application, and Region:

• The process automation market is segmented on the basis of application into oil and gas, chemicals, mining, general industries, consumer goods, pharma and biotech, and power, among others.

• Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of The Report:

• The global process automation market is driven by the increasing emphasis on the growing productivity and eliminating hazardous manual tasks.

• The increasing adoption of advanced innovations, strategic partnerships, and product collaborations within oil and gas, metals and mining, pharmaceuticals, chemicals, and other industries are providing further impetus to the market growth.

• The rising visibility of the global automation players in major countries, including Brazil, Chile, and Argentina, is strengthening the market growth.

• The strategizing of the major players on the development of products with functional transformation and commercial excellence to be competitive in the market and fulfil customers' demands is invigorating the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global process automation market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the applications and regional markets of process automation.

• It assesses the market based on SWOT and Porter’s Five Forces models.

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.

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