Pune, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Terminal Automation Market Size & Growth Analysis:
“As per the SNS Insider Research, The Terminal Automation Market size was valued at US$ 7.36 billion in 2023 and is anticipated to expand to US$ 10.66 billion by 2032, growing at a CAGR of 4.21% from 2024 to 2032.”
Driving Growth in Terminal Automation: Technological Advancements and Market Dynamics
The growth in the terminal automation sector is largely attributed to the increasing demand for efficient and reliable operations across various industries, including oil and gas, bulk handling, and chemicals. Terminal automation utilizes advanced technologies such as Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), and Programmable Logic Controllers (PLC) to monitor and control critical processes related to product handling, distribution, and safety. These technologies help minimize human error, reduce operational costs, and enhance safety measures.
The ongoing digital transformation across industries and the rise in energy demand are pivotal factors contributing to the growth of the terminal automation market. Additionally, stringent environmental regulations and a focus on increasing safety standards further propel the adoption of terminal automation. Modern terminal automation is also evolving with cloud-based devices that offer real-time monitoring and analytics, ensuring informed decision-making. As cybersecurity threats grow, there is a heightened emphasis on securing critical infrastructure from potential attacks. The incorporation of IoT-enabled devices enhances automation and data collection, leading to more modular and scalable solutions.
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Major Players Analysis Listed in this Report are:
The Key Players are Schneider Electric, Emerson Electric Co., ABB Lid, Siemens, Honeywell International Inc., TechnipFMC plc, Rockwell Automation, Inc., LARSEN & TOUBRO LIMITED., Implico, General Electric, Endress+Hauser Group Services AG, Yokogawa India Ltd., Inter Terminals Limited, INTECH, Varec, Inc., Chemtrols Industries Pvt. Ltd., MHT Technology, Advanced Sys-tek Pvt. Ltd., General Atomics & Other Players
Terminal Automation Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 7.36 Bn |
| Market Size by 2031 | US$ 10.66 Bn |
| CAGR | CAGR of 4.21% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • Terminal automation enhances operational efficiency and safety by reducing human error, streamlining processes, and helping industries comply with stringent safety regulations, especially in sectors like oil and gas. |
Segmentation Analysis: Hardware Leads with 62.14% Market Share; Oil & Gas Sector Captures Over 28.08% Share in 2023
By Offering:
Hardware: Dominating with over 62.14% of the market share in 2023, the hardware segment includes controllers, sensors, actuators, and other field devices. These components are essential for the effective automation of terminal operations, particularly in sectors where operational efficiency and safety are paramount, such as oil and gas, chemicals, and utilities.
By Vertical:
Oil & Gas: Holding a dominant share of over 28.08% in 2023, this segment benefits from the need for efficient and safe handling, monitoring, and distribution of petroleum products. Terminal automation in the oil and gas sector ensures compliance with industry regulations, optimizes storage, and improves operational safety.
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Terminal Automation Market Key Segmentation:
By Offering
- Hardware
- Software & Services
By Project type
- Brownfield projects
- Greenfield projects
By Vertical
- Oil & Gas
- Chemical
- Others
Regional Analysis: North America Dominates Terminal Automation Market with 36.03% Share in 2023
North America: North America led the terminal automation market with a share of over 36.03% in 2023. This leadership is driven by the region's advanced infrastructure, high adoption rates of automation technologies, and substantial investments in the oil and gas, and chemicals industries. The presence of key players and stringent regulations for safety and efficiency further solidify North America's position. For instance, major companies like Honeywell and Emerson have been instrumental in deploying advanced terminal automation solutions across the region.
Asia Pacific: The Asia Pacific region is the fastest-growing market, fueled by increasing energy demand, rapid industrialization, and substantial infrastructure investments, particularly in China and India. The expansion of refineries and the adoption of automation solutions to enhance efficiency in the oil and gas sector are significant contributors to the region's rapid growth.
Recent Developments
In August 2023: Evergreen Marine Corp., in cooperation with Taiwan International Ports Corporation, launched Terminal 7 at Kaohsiung Port, Taiwan’s first fully-automated container terminal. This terminal is equipped with remote-controlled gantry cranes, 5 berths, etc., that will facilitate the handling of ultra-large container ships.
In July 2024: OPW Engineered Systems announced the launch of a new 8800 Series Overfill and Ground Monitoring System. It is an advanced solution for terminal operators who seek to make the filling processes more intuitive and safer. This series is incorporated with advanced features that can be easily integrated into existing terminal automation systems. It includes LED lights and pictograms that can rapidly communicate the loading status, irrespective of language.
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Key Takeaways
- The report provides a thorough analysis of the terminal automation market, offering a deep understanding of the key drivers, trends, and challenges shaping the industry. It enables companies to grasp the critical factors influencing market dynamics and growth.
- It includes recent developments, market size metrics, and a complete overview of the terminal automation landscape. The report presents valuable data on overall market performance, segment-specific insights, market share, growth trends, and revenue figures.
- The report identifies and evaluates significant technological innovations and emerging trends that are poised to impact the terminal automation market. It highlights how these advancements can offer a competitive advantage to businesses in the sector.
- It examines the performance of key regions, such as North America and Asia Pacific, providing information into regional growth drivers, infrastructure investments, and market expansion. This analysis aids in understanding regional opportunities and strategic planning.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Terminal Automation Market Segmentation, By Offering
8. Terminal Automation Market Segmentation, By Project type
9. Terminal Automation Market Segmentation, By Vertical
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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