"Actionable Insights to Fuel Your Growth"
Oil and Gas industry is vital for the global economy. The oil and gas industry is not only responsible for the majority of primary energy generation but also acts as a significant supplier of raw materials for chemical products which include pharmaceuticals, solvents, fertilizers, pesticides, and plastics. For reliable and stable operation of oil and gas industry, control and monitoring play an important role. Control and monitoring boost efficiency, decrease operating cost and increase profitability. Sensors play an essential role in the control and monitoring of the oil and gas industry.
Sensors are used in every step of the oil and gas industry; right from oil and gas exploration to refinery. Different type of sensors is used to collect data in numerous applications in the oil and gas industry. Sensors are used to monitor various vital parameters which are crucial for stable and reliable operations. Sensors can be used in hazardous conditions where human intervention is not possible. Sensors play an essential role in the safety of both man and machines. Sensors can be used to find flaws in the system.
To gain extensive insights into the market, Request for Customization
Based on the type of sectors, oil and gas sensors market can be segmented into upstream, midstream, and downstream. The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently drilling and operating the wells that recover and bring the crude oil or raw natural gas to the surface. The midstream sector involves transportation (by pipeline, rail, barge, oil tanker or truck), storage, and wholesale marketing of crude or refined petroleum products.
The downstream sector is the refining of petroleum crude oil and the processing and purifying of raw natural gas, as well as the marketing and distribution of products derived from crude oil and natural gas. The downstream sector reaches consumers through products such as gasoline or petrol, kerosene, jet fuel, diesel oil, heating oil, fuel oils, lubricants, waxes, asphalt, natural gas, and liquefied petroleum gas (LPG) as well as hundreds of petrochemicals. Based on connectivity, oil and gas sensors is divided into wired connections and wireless. Oil and gas sensors are used for remote monitoring, condition monitoring, and analysis & simulations.
The primary market driver for global oil and gas sensors market is the need for modernization, refurbishment, and up-gradation of the oil and gas industry. Automation of oil and gas industry boosts efficacy and is beneficial to investors. Increase in demand for oil and gas in countries like India, USA, and China. Growth in downstream activities and economical extraction of shale gas is expected to influence the sensors market positively. Emerging long-distance surface pipeline and subsea pipelines for transport for crude and natural oil is a new avenue for midstream for the use of sensors. As a result of low crude oil prices, investment in oil and gas has reduced significantly. This acts as a significant restraint for oil and gas sensors market.
Some of the notable companies in the global Oil & Gas Sensors market are Honeywell, Gems Sensors, LORD Corporation, Oxsensis Ltd, TE Connectivity, Opsens Solutions, SGX Sensortech, Emerson Electric Co., 3M Gas & Flame Detection, BEI Sensors, ABB, Pyromation, Smart Fibres Ltd, Fafnir GmbH, SKF, Baker Hughes, Thermometrics Corporation, Siemens and Bosch Rexroth.
· Pressure Sensor
· Temperature Sensor
· Level Sensor
· Flow Sensor
· Remote Monitoring
· Condition Monitoring
· Analysis & Simulation
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
The global oil and gas sensors market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to positively influence oil and gas sensors market due to development of affordable shale gas exploration and extraction technology. Upgradation and refurbishment of aging oil and gas pipelines and new proposed pipelines in Europe and North America are expected to grow the oil and gas sensors market. New proposed pipelines in Asia-Pacific and Middle-East & Africa is expected to boost the use of sensors in mid-stream sector. Increase in petroleum refining activities in India, China, USA is expected to increase the use of sensors in the downstream market. Upgradation and modernization of infrastructure in OPEC countries can spur the oil and gas sensor market.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry