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Growing Demand From the Oil and Gas Industry to Boost the Global Terminal Automation Market by 2020, says Technavio

Thursday, Feb 11, 2016
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Technavio analysts expect the global terminal automation market to exceed USD 7 billion by 2020, growing at a CAGR of over 6%, according to their latest report.

Terminal automation systems (TAS) provide a supervisory and regulatory software system that enables the automation of specific manual processes in an organization's terminal. TAS represents the amalgamation of terminal management system (TMS), terminal automation control (TAC), communications management system, motor control management, terminal loading system, and process and safety control.

Terminal automation enhances productivity and alerts end-users through the use of real-time data. It also enables real-time and accurate data collection, reduces losses, prevents accidents, improves safety and security, protects the natural environment, expedites building processes, and enables centralized control.

The oil and gas, chemicals and petrochemicals, and asphalt terminal automation markets are expected to grow significantly during the forecast period as TAS performs two important functions: ensuring terminal efficiency and conformity with safety standards.

Technavio’s lead industrial automation market research analysts have identified the following four factors that will drive the growth of the terminal automation market:

Growing demand from oil and gas industry
Widened scope of brownfield terminal projects
Need to improve efficiency with cost control
Adherence to environmental and safety regulations
Growing demand from oil and gas industry

Rapid industrial development in both developed and developing countries has boosted global demand for energy, fueling the oil and gas industry significantly.

Emerging countries in APAC, especially China and India, have experienced rising demand for automobiles, creating a huge demand for oil, natural gas, chemicals, and petrochemical products. The oil and gas industry is vital for the automobile industry as it is the primary source of fuel and provides chief feedstock and raw material for various synthetic products (ranging from plastics to synthetic rubber). Increasing volumes of production and transportation have underlined the role of terminal automation solutions in ensuring the transition of goods with minimal wastage and low operation costs.

Widened scope of brownfield terminal projects

Most of the infrastructure in brownfield projects, such as pipeline connections, tanker berths, high-tech LNG storage tanks, roads and other components, are already in place. Terminal automation can enhance brownfield projects to increase overall productivity by executing operations methodically, thus conserving both time and energy.

According to Bharath Kanniappa senior research analyst for the automation industry at Technavio, “Automation can extend the envelope of a terminal through effective terminal layout planning, making a wide variety of technological solutions available for end-users to address their requirements.”

Need to improve efficiency with cost control

Any industry can sustain itself in a competitive environment by avoiding unnecessary expenditure and by ensuring consistent and timely delivery of high-quality products. Automation strategies, such as terminal automation, have revolutionized loading, un-loading and distribution of produce in terms of security, safety, and productivity. These strategies are used by all sectors to enhance their existing systems.

Terminal automation improves transport feasibility and efficiency, conserves energy, and allows real-time supervision and monitoring, especially in inaccessible and hazardous areas. Therefore, it detects faults in early stages and reduces waste and downtime. The technology is also engineered to transmit real-time data from remote locations, which allows quick decision-making and repairs, minimizes equipment damage, and protects workers from occupational mishaps.

Adherence to environmental and safety regulations

Workforces in the oil and gas and petrochemical industries remain exposed to carcinogenic toxins and potential fire hazards. Waste and chemicals from leaks, accidents, and improper waste disposal pollute the natural environment. Therefore, growing concerns about the safety of human workforces have prompted governments to adopt stringent legislations, such as OHSAS 18001 and OHSAS 29 CFR 1910.107. These rules impose heavy penalties in cases of non-adherence to norms of transportation, and can reach USD 8,000 per barrel in the US.

Such situations can be avoided by implementing terminal automation to ensure regular monitoring of transportation, and strict adherence to safety and environmental norms. “Terminal automation allows safe and remote monitoring of operations and maintenance of oil and gas and petrochemical reserves without compromising on the product quality and on employee safety,” says Bharath.

Browse Related Reports:

Industrial Automation Service Market in the EMEA Region 2015-2019
Terminal Automation Market in the Oil and Gas Industry in North America 2015-2019
Automation and Instrumentation Market in Power Industry in Europe 2015-2019

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Source : businesswire.com

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