Energy sectors bolster instrumentation and systems sales
Above-average performance in the oil & gas, refining, utilities, and pharmaceutical industry sectors helps sustain the annual growth rate for the process instrumentation and automation industry at nearly 4%.
Williamsburg, VA – Without above-average performance from the oil & gas, refining, utilities, and pharmaceutical industry sectors, the annual growth rate for the process instrumentation and automation (PI&A) industry would be much lower than the 3.8% average forecasted this month by Global Foresight Group for the Measurement, Control & Automation Association. The report, “MCAA Annual Market Forecast for Process Instrumentation and Automation in the United States and Canada,” provides data on the 2007 market value and the three-year future annual market forecast for 12 product PI&A categories and industry segments.
Projected CAGR for tracked PI&A products from 2007-2010. Source: MCAA.
The 2007 total market value for the twelve PI&A product categories covered in the report is $7.0 billion for the United States and $812 Million for Canada. In the United States, the annual growth rate is forecasted to be 3.8% per year and 2.8% per year in Canada, over the forecast period. Five products are forecasted for above-average growth in the U.S.—electronic flow, mechanical flow, electronic level, remote I/O, and pressure transmitters. In Canada, electronic flow, electronic level, remote I/O and control systems will experience above-average growth rates. Further, the oil & gas, refining, utilities, and pharmaceutical industry segments are reported to expect above-average growth in the United States; while in Canada, pharmaceuticals, utilities, food & beverage, and chemicals will experience that above-average trend over the forecast period.
Product segments assessed in the report include gas analytical instruments, liquid analytical instruments, pressure instruments, electronic flowmeters, mechanical flowmeters/primary elements, electronic level, mechanical level/tank gauging, temperature instruments, control systems, remote I/O, data acquisition systems, final control devices. Also included are discussions of the trends in two emerging technologies, wireless transmitters and asset management. Industry segments profiled include: oil & gas (production and transmission), petroleum refining, chemicals, bio-pharmaceutical, food & beverage, pulp & paper, electric utilities, municipal water & wastewater, primary metals, mining, stone, clay and glass.
For more information, contact MCAA at email@example.com or 757-258-3100.
Edited by David Greenfield , editorial director
Register here and scroll down to select your choice of eNewsletters free .
- Events & Awards
- Magazine Archives
- Oil & Gas Engineering
- Salary Survey
- Digital Reports
Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey