DUBLIN, October 19, 2021--(BUSINESS WIRE)--The "Terminal Automation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global terminal automation market reached a value of US$ 4.2 Billion in 2020. Looking forward, the market is expected to grow at a CAGR of around 6% during 2021-2026.
Emerson Electric Co.
General Electric Company
Honeywell Process Solutions (Honeywell Automation and Control Solutions)
Larsen & Toubro Limited
Rockwell Automation Inc.
Schneider Electric SE
Yokogawa Electric Corporation.
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
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 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?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Terminal Automation Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Offering
7 Market Breakup by Project Type
8 Market Breakup by Vertical
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/yqanot
View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005929/en/
Laura Wood, Senior Press Manager
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