Technavio has published a new report on the automation and instrumentation market in the chemical and petrochemical industry in Europe, which is expected to grow at a CAGR of nearly 28% from 2015-2019.
Automation: About the report
The latest report by Technavio draws attention towards an increase in intra-European trade, as the chemical industry in Europe recovers after the economic crisis.
“The removal of trade barriers between European countries has increased trade and has contributed to the growth of intra-European chemical sales, which now account for more than half of all sales in the overall chemical market in Europe,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes the appearance of more automation solution offerings as a major market growth driver. Vendors are trying to develop and provide enterprise solutions for business processes and integrate them with existing automation system portfolios.
“Vertical integration helps vendors provide solution packages where continuous information flow and coordination for new product design and development with less human interaction will result in minimal product error and reduced costs,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Automation and Instrumentation Market in Europe for Water and Wastewater Industry 2015-2019
Automation and Instrumentation Market in Europe in the Oil and Gas Industry 2015-2019
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
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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