According to the latest report by IMARC Group, titled “Terminal Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global terminal automation market reached a value of US$ 4.2 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. Terminal automation is the process of automating several control functions of machinery in a warehouse or manufacturing unit. A terminal is a storage facility for chemicals, gas, oil and other products that need to be carried to the point-of-sale (POS). Terminal automation system (TAS) is comprised of various mechanical, pneumatic, hydraulic, electronic and computerized systems that provide control over the entire product handling process, which involves bulk loading, receiving, storing and distributing products. Furthermore, the system also offers several other benefits, such as reduced operational and maintenance costs, enhanced productivity and improved security of assets and human resources.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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A significant growth in the oil and gas industry, along with the increasing demand for industrial automation, is primarily impelling the market growth. Furthermore, the widespread adoption of terminals for blending, handling and storing biofuels is also driving the global market for terminal automation. Additionally, the introduction of innovative automation solutions that are integrated with numerous advanced technologies, such as cloud computing and Industrial Internet of Things (IIoT), also acts as another growth-inducing factor. These solutions offer enhanced support and real-time monitoring of remote sites, cloud-based tracking and administration of unmanned operations, etc. Several other factors, including the rising investments to upgrade existing terminals, along with the growing adoption of wireless technologies, are anticipated to further drive the market in the coming years.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd
- Emerson Electric Co.
- Endress+Hauser AG
- General Electric Company
- Honeywell Process Solutions (Honeywell Automation and Control Solutions)
- Larsen & Toubro Limited
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens Aktiengesellschaft
- TechnipFMC Plc
- Yokogawa Electric Corporation
Breakup by Offering:
- Control Systems
- Security Systems
- Field Devices
- Trucks and Pipelines
- Software and Services
Breakup by Project Type:
- Brownfield Projects
- Greenfield Projects
Breakup by Vertical:
- Oil and Gas
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impacton the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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