Investment Remains Strong in a Challenging Environment
The Automation Expenditures in Refining Worldwide Outlook examines the market for automation systems and field devices in the downstream refining sector of the global oil & gas industry.
Refining has seen a major drop in demand for refined products over the past two years, a drop in refining capacity utilization, and faces a very uncertain outlook. Recently, prices and demand have begun to recover somewhat, but refinery margins are suffering. Oil companies have made some adjustments in response to the downturn. The question is not only when, but where will major investments be made to build capacity for an increase in demand over the long term.
Integrated oil companies have a different challenge than their national oil company counterparts. The former is faced with an ageing fleet of refineries in markets such as North America and Europe. The latter are in locations that have a growing demand in their local markets and in some cases want to be a world supplier of refined products.
According to estimates, demand for petroleum products will increase substantially, particularly in developing regions. Today�s economic-based issues will give way to increased demand. Refining capabilities will need to be improved and expanded, increasing demand for automation systems and field devices.
Strategic Issues
This study provides strategic market information and guidance for automation systems and field devices to the worldwide refining marketplace. In addition to quantitative assessments, the study also identifies key strategic issues that will have a future impact on this market:
- Market potential and size for automation systems and field devices
- Leading suppliers in this vertical industry sector
- Niche and technology specialty suppliers
- Market size in various world regions
- Strategies for suppliers and manufacturers in the worldwide refining industry to maximize opportunities in a dynamic energy market
