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Global process instrumentation and automation market set to grow

15 May 2017

The value of the global market for process instrumentation and automation is forecast to grow at a five-year compound annual growth rate of 4% between 2016 and 2021, according to figures from Global Automation Research.

Control systems, field measurements, and final control devices account for 80% of the total global market, with the fastest growing product lines including contact and non-contact microwave level, ultrasonic flow, Coriolis flow, electronic/pneumatic positioners, TDL moisture measurements, optical dissolved oxygen analyzers and remote I/O. Products that appear to be losing market share include mechanical flow, mechanical level, data acquisition systems, and pneumatic positioners. 

Application areas such as life sciences, electric and water & wastewater utilities, chemicals, and petroleum industries are all growing above the market average, while materials production industries are growing much slower as prices and global over-capacity dominate.

www.globalautomationresearch.com


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