Global Process Automation & Instrumentation Market to Reach $113.1 Billion by 2030
The global market for Process Automation & Instrumentation estimated at US$73.8 Billion in the year 2023, is expected to reach US$113.1 Billion by 2030, growing at a CAGR of 6.3% over the period 2023-2030. Field Instruments, one of the segments analyzed in the report, is expected to record 5.8% CAGR and reach US$66.3 Billion by the end of the analysis period. Growth in the Process Analyzers segment is estimated at 7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $19.3 Billion, While China is Forecast to Grow at 9.5% CAGR
The Process Automation & Instrumentation market in the U.S. is estimated at US$19.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$26.4 Billion by the year 2030 trailing a CAGR of 9.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
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