Future Market Insights has announced the addition of the “Oil and Gas Terminal Automation Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 01/07/2016 -- Oil & gas terminal automation is a process of managing, monitoring, evaluating and controlling remote terminals using intelligent software that automates the process of oil and gas loading, storage and distribution. In order to satisfy the increasing demand of oil and gas by both domestic and international consumers, there is a need for a delivery system that is both efficient and accurate. The oil & gas terminal industry requires complete automation from exploration to distribution. Terminal automation offers a set of integrated tools which provide real-time access to terminal data to maintain safety and stability operations and maximize profits through optimal management.
The terminal automation system is an integration of Terminal Management System (TMS), Terminal Automation Control (TAC), Communication Management System, Motor Control Management, Terminal Loading System and Process & Safety Control. The benefits associated with terminal automation are – increases responsiveness and productivity, empowered workforce, real-time database management system, optimized safety & security and centralized control. On the other hand, oil & gas terminal automation is costly and need training for customers to handle it.
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High cost of automation, satisfactory results obtained from traditional systems and low automation adoption in industries are some of the restraints hindering the growth of oil & gas terminal automation market. Despite these restraints, the oil & gas terminal automation market is expected to witness a single-digit growth in the next five years.
The oil & gas terminal automation market is segmented by product, mode of transportation and geography. On the basis of products, the market is classified into process safety system (PSS), tank gauging system, distributed control system (DCS), programmable logic controller (PLC), blending control & safety, supervisory control and data acquisition (SCADA) and HMI. On the basis of mode of transportation, the oil & gas terminal automation market is categorized into truck transport and pipeline transport. Truck transport is useful for inventory and finished product transport between terminals. Pipeline transport on the other hand, is useful for transport of crude oil and natural gas from wells to refineries and then from the refineries to customers. On the basis of geography, the market is divided into North America, Latin America, Asia-Pacific, Japan, Western Europe, Eastern Europe and Middle East & Africa.
The oil & gas terminal automation is generally divided into two tasks – ensuring terminal efficiency and terminal safety. The advancement in oil & gas automation include real-time safety alarms, automated data capture, tank farm automation, custom graphics and user interface, and product movement tracking. Innovative technological modifications are implemented on existing terminal automated systems using global network remote support and monitoring, cloud-based automation, mobility of control, intelligent event processing, fields and unmanned platforms. Continuous technological developments are made to make oil & gas terminals more productive and fault-free. Advancement in terminal automation is the result of innovation and development in information technology.
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Rockwell Automation Inc. (US), Cimation (US), ABB Ltd. (Switzerland), Gulftronics (US), Yokogawa (Japan), Larsen & Toubro(India), Wipro Ltd.(India), Schneider Electric (U.K.) General Electric (US), Siemens AG (Germany) and Honeywell Process Solutions (US) are some of the top players of global oil & gas terminal automation market. North America has the largest market for oil & gas terminal automation due to its industrial and technological advancement. On the other hand, Asian countries are the developing markets. Due to the increasing need for power and electricity, countries like India and China are the biggest fuel consumers. India and China are emerging as the most attractive markets for oil & gas terminal automation. With the increase in demand for oil and gas, the demand for automation of terminal operation will rise in order to increase productivity and accuracy of output by terminals.