Shift Toward Lean Manufacturing will Drive the Market Growth during the Forecast Period
LONDON–(BUSINESS WIRE)–#IndustrialAutomationandInstrumentationMarketinIndia–The industrial automation and instrumentation market in India is expected to register a CAGR of over 10% during 2020-2024, as per the latest research report by Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Due to the extensive spread of the virus across the globe, the Industrials sector is anticipated to have Negative impact. However, the industrial automation and instrumentation market in India will showcase Neutral impact during 2020-2024.
Industrial Automation and Instrumentation Market in India 2020-2024: Segmentation
Industrial Automation and Instrumentation Market in India is segmented as below:
The process industry segment includes industries such as oil and gas, chemical and petrochemical, textile and apparel, mining and metals, and others. The growing energy demand has encouraged companies in India to explore new conventional and non-conventional hydrocarbon resources. Such exploration has driven the need for automation and instrumentation solutions in the oil and gas, chemical and petrochemical, and power industries. Market growth in this segment will be slower than the growth of the market in the discrete industry segment.
The Industrials market is anticipated to have an indirect impact due to the spread of COVID-19, and the industrial automation and instrumentation market demand in India will show At par growth. View market snapshot before purchasing
Simplification of manufacturing through automation has been an instrumental factor in influencing the growth of industrial automation and instrumentation market in India. Other market drivers include simplification of manufacturing through automation and need for efficient use of resources and reduction of emissions. Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
Key Considerations for Market Forecast:
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Industrial Automation and Instrumentation Market in India 2020-2024: Vendor Analysis
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. Major market participants include ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., General Electric, Honeywell International Inc., Robert Bosch GmbH, Rockwell Automation Inc., Schlumberger Ltd., Schneider Electric SE, and Siemens AG.
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Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Customer landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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