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Oil and Gas Terminal Automation Market to Reach $4.4 Billion by 2020

Oil and Gas Terminal Automation Market to Reach $4.4 Billion by 2020

Jul 30, 2014 | Onshore Oil & Gas

A recent report published by MarketsandMarkets estimates that the global market for oil and gas terminal automation will reach $4.4 billion by 2020.

With the market expected to grow at a rate of nearly 9% annually over the next six years, the need for companies that can deliver high-quality automation services to the midstream oil and gas sector will become increasingly prominent.

For this reason, Audubon maintains a full staff of experienced control engineers and automation specialists who provide complete conceptual design, installation and ongoing maintenance for a wide range of midstream infrastructure. Automation teams work closely with engineering groups to complete projects and create a collaborative work environment; allowing Audubon to provide an extremely high degree of quality control on all deliverables.

Key drivers behind the growth of the terminal automation market include an increasing concern and emphasis being placed on the safety and security of terminal areas, the need to upgrade aging terminals that have reached the end of their useful life, and a growing interest from owners and operators to optimize oil and gas transmission operations through the use of cutting edge technologies and advanced computer software.

With many of these advances, terminal automation solutions now offer a wide range of benefits that can help improve oil and gas processing activities. Most notably, automation can provide engineers with real-time access to terminal operations and performance data at a very low initial cost of investment.

Product segments that will likely be impacted the most from the expected growth over the next six years include DCS, SCADA, PLC, PSS, HMI, blending control, automatic tank gauging, and security.