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 firstname.lastname@example.org or 757-258-3100.
Edited by David Greenfield , editorial director
Register here and scroll down to select your choice of eNewsletters free .