Terminal Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Terminal Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global terminal automation market size reached US$ 5.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2022-2028.



Terminal automation refers to the process of automating various control functions of equipment or machinery in a warehouse or manufacturing unit. A terminal is a storage facility for oil, gas, chemicals and other products that need to be transported to the point of sale (POS). Terminal automation systems (TAS) consist of various mechanical, hydraulic, pneumatic, electronic and computerized systems to control equipment and processes. They offer centralized and systematic control over the entire product handling process, which involves bulk loading, receiving, reconciling, storing and distributing products. They provide various other benefits, such as reduced operational and maintenance costs, improved productivity and enhanced security of assets and human resources.



Significant growth in the oil and gas industry, along with increasing industrial automation, is one of the key factors creating a positive impact on the market. Terminal operators are utilizing automated systems that improve the productivity and efficiency of the terminal by handling larger vessels with greater holding capacities. In line with this, widespread adoption of terminals for blending, storing and handling biofuels is stimulating the market growth. Additionally, the development of technologically advanced automation solutions and the integration of the Industrial Internet of Things (IIoT) and cloud-computing, are acting as other growth-inducing factors. These solutions offer improved support and monitoring of remote sites, cloud-based tracking, smart event processing and administration of unmanned operations. Other factors, including the increasing investments to upgrade existing terminals, especially in developing countries, along with the growing adoption of wireless technologies, are anticipated to drive the market further.



Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global terminal automation market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering, project type and vertical.



Breakup by Offering:



Hardware

Control Systems

Security Systems

Field Devices

Trucks and Pipelines

Others

Software and Services



Breakup by Project Type:



Brownfield Projects

Greenfield Projects



Breakup by Vertical:



Oil and Gas

Chemical

Others



Breakup by Region:



North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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 and Yokogawa Electric Corporation.



Key Questions Answered in This Report:

How has the global terminal automation market performed so far and how will it perform in the coming years?

What has been the impact of COVID-19 on the global terminal automation market?

What are the key regional markets?

What is the breakup of the market based on the offering?

What is the breakup of the market based on the project type?

What is the breakup of the market based on the vertical?

What are the various stages in the value chain of the industry?

What are the key driving factors and challenges in the industry?

What is the structure of the global terminal automation market and who are the key players?

What is the degree of competition in the industry?