Oil & Gas Sensors Market, By Type (Pressure, Level, Flow, Temperature), By Connectivity (Wired, Wireless), By Application (Remote Monitoring, Condition Monitoring, Analysis), By Sector (Upstream, Midstream, Downstream), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast 2030

Oil and Gas Sensor Market accounted for US$ 8.03 billion in 2020 and is estimated to be US$ 12.40 billion by 2030 and is anticipated to register a CAGR of 4.50%.

Sensors are critical components in today's oil and gas sector, and they're used in a variety of upstream, middle, and downstream applications. The oil and gas sector relies significantly on its pipelines and equipment to operate efficiently and consistently. Vibration and pressure changes that go unnoticed cause damage to wells, pipelines, and reciprocating machinery, resulting in unplanned downtime and catastrophic loss.

As a result, oil and gas sensors are frequently utilised for measurement, control, and monitoring. Rising demand for sensors as a result of increased refining capacity, increased usage of ultrasonic sensors, and increased IoT in the oil and gas industry are all driving the growth of the oil and gas sensors market.

Rising adoption of IIoT (Industrial Internet of Things) sensors in the oil and gas industry

The necessity to cut costs is driving the deployment of IIoT (Industrial Internet of Things) sensors in the oil and gas industry. Because of technological developments and easy assembling alternatives that sensor manufacturers provide to end users, installing these sensors not only takes less time but also costs less.

Significant adjustments and difficult decisions are being driven by the present oil price situation across the oil and gas industry. To respond to short- and mid-term market supply and demand variations, new operating models and strategies that improve CAPEX and OPEX are required. One of the highest considerations is the long-term need for sustainable solutions that improve safety and environmental performance. Sensors are used to help operators achieve a unique balance across a spectrum of upstream, midstream, and downstream technological innovations and solutions, from the drill pad to the refinery.

Sensor makers are increasingly designing sensors that are simple to assemble. The competition among major producers of sensors and service providers of IoT products is rising as a result of technological improvements, promoting the adoption of these sensors in the oil and gas industry.

In addition, there is a skilled labour shortage in the oil and gas business. Oil and gas businesses have found it difficult to hire new staff with the technical abilities needed to work on new energy sources due to a scarcity of expertise.

Oil & gas sensors market has been segmented on the basis of type, connectivity, application, sector, and region.

The type segment includes pressure, level, flow, temperature. The connectivity segment is further sub segmented into wired and wireless. The application segment is further sub segmented into remote monitoring, condition monitoring, and analysis. The sector segment is further sub segmented into upstream, midstream, and downstream.

Regional Insights:

On region the Oil and Gas Sensor Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, Europe is expected to dominate the market Europe has fewer oil and gas rigs than main producers in the United States and the Middle East. To make matters worse, oil production in the European Union has dropped dramatically in recent years. Since 2016, the region's oil output has been falling at a rate of 1.2 percent per year. According to the most recent data from the IOGP (International Association of Oil and Gas Producers), a succession of successful licencing rounds and prospective discoveries have sent a wave of excitement across the industry.

Oil & Gas Sensors Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the Global Oil and Gas Sensor Market report based on type, application, connectivity, sensor and region.

Oil and Gas Sensor Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

Key players operating in the global oil & gas sensors market includes Honeywell, Emerson, Lord, Siemens, ABB Ltd, Fortive, Rockwell, Indutrade, MTS Sensor Technology GmbH & Co. Kg, and General Electric (GE). Siemens announced a new generation temperature transmitter in May 2018 for a variety of sensor types that can offer data in temperatures as low as -5 degrees Celsius. Both SITRANS TH420 and TR420 sensors use a four-wire connection to improve data accuracy and dependability.

ABB expanded its operations network in March 2018 by opening a new collaborative operations centre in Norway for the oil, gas, and chemical industries.

• Honeywell
• Emerson
• Siemens
• ABB Ltd
• Fortive
• Rockwell