Global Oil & Gas Sensors Market Size study & Forecast, by Type (Pressure, Temperature, Level, and Vibration), by Connectivity (Wired and Wireless), by Sector (Upstream, Midstream, and Downstream) and Regional Analysis, 2023-2030

Global Oil & Gas Sensors Market Size study & Forecast, by Type (Pressure, Temperature, Level, and Vibration), by Connectivity (Wired and Wireless), by Sector (Upstream, Midstream, and Downstream) and Regional Analysis, 2023-2030

Global Oil & Gas Sensors Market is valued at approximately USD 7.6 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.17 % over the forecast period 2023-2030. Oil & Gas Sensors are specialized devices used in the oil and gas industry to detect and measure various parameters such as pressure, temperature, flow, and levels of gases or liquids, enabling monitoring and control of processes in oil and gas operations. The Oil & Gas Sensors Market is expanding because of factors such as increasing demand for IoT devices and growing adoption of industrial automation. Moreover, rising demand for IoT devices in the oil and gas industry drives the growth of the Oil & Gas Sensors Market, enabling enhanced monitoring, control, and optimization of operations. IoT integration improves efficiency, safety, and cost-effectiveness, leading to increased adoption of advanced sensors.

According to Statista in 2022, the number of Internet of Things (IoT) devices worldwide is expected to nearly triple from USD9.7 billion in 2020 to over USD29 billion by 2030. By 2030, China is projected to have the largest number of IoT devices, with around 5 billion devices used by consumers. The growing adoption of industrial automation in the oil and gas industry increases the demand for advanced sensors, enabling efficient and automated monitoring. According to Statista in 2020, the global industrial automation market was valued at approximately USD 175 billion. It is projected to experience a compound annual growth rate (CAGR) of around 9% until 2025, reaching a market size of USD 265 billion by that year. In addition, growing offshore investments in the oil & gas industry and rising technological advancements in sensor technologies would create lucrative growth opportunities. However, technical complexity and the high cost of Oil & Gas sensors stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Oil & Gas Sensors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period owing to the, increasing emphasis on shale gas exploration and production in North America increase the demand for advanced sensors. Additionally, the region's well-established infrastructure and technological advancements significantly contribute to the widespread adoption of Oil & Gas Sensors in the North America market. Asia Pacific is fastest growing region over the forecast period, owing to factors such as increasing adoption of industrial automation and increasing energy demands and exploration activities driving the demand for advanced sensors in the expanding oil and gas industry.

Major market player included in this report are:
Honeywell International Inc.
Gems Sensors, Inc.
LORD Corporation
Oxsensis Ltd.
TE Connectivity Ltd.
SGX SensorTech Limited
Emerson Electric Co.BEI Duncan Electronics
Svenska Kullagerfabriken
De GRAEFF

Recent Developments in the Market:
 In April 2022, MSA Safety, Incorporated introduced the groundbreaking ALTAIR io 4 Gas Detection Wearable devices, a significant advancement in the industry. Serving as the hardware component of MSA's Connected Work Platform, the ALTAIR io 4 device showcases the integration of cloud-ready technology for enhanced safety solutions.
 In April 2022, Sensirion showcased its cutting-edge environmental sensing solutions, SEN50 and SEN55, designed for measuring essential environmental parameters. As a member of the SEN5x series, the SEN50 environmental node serves as a user-friendly sensor solution platform, providing precise measurements of particulate matter.

Global Oil & Gas Sensors Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Connectivity, Sector, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Pressure
Temperature
Level
Vibration

By Connectivity:
Wired
Wireless

By Sector:
Upstream
Midstream
Downstream

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Honeywell International Inc.
Gems Sensors, Inc.
LORD Corporation
Oxsensis Ltd.
TE Connectivity Ltd.
SGX SensorTech Limited
Emerson Electric Co.BEI Duncan Electronics
Svenska Kullagerfabriken
De GRAEFF

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