Indonesia Process Instrumentation Market to Grow at a CAGR of 5.6% to reach US$ 266.06 Million from 2021 to 2028

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Indonesia Process Instrumentation Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Technology (Flow Meter, Pressure and Temperature Instrument, Analytical Instrument, and Level Meter)

Publication Month: Apr 2022 | Report Code: TIPRE00028842 | No. of Pages: 87 | Category: Electronics and Semiconductor | Status: Published

The Indonesia process instrumentation market is expected to grow from US$ 181.70 million in 2021 to US$ 266.06 million by 2028. It is estimated to grow at a CAGR of 5.6% from 2021 to 2028.

Process Instrumentation is used to monitor, simulate, analyze, and regulate the manufacturing process by taking timely measurements of essential process parameters to improve process safety and quality. Instruments at the process control are constantly improving in terms of capability, repeatability, precision, dependability, and cost. Additionally, the engineers utilize sensors and other types of instrumentation to monitor and maintain process control equipment in manufacturing and processing facilities for better output, product consistency and quality management, and worker safety. In facilities that store or handle oil, gas, chemicals, or other combustible substances, process control instrumentation is vital for preventing fire or explosion.

The demand for process instrumentation is primarily driven by the growing need for the right instrumentation that helps the industrial users run processes effectively, efficiently, economically, and safely. Rising demand for these products in wide industrial verticals with critical process measuring requirements is driving the Indonesia process instrumentation market. Moreover, flow meters, level meters, analytical instruments, etc. provide high durability, easy installation, and safety measures depending on the applications. These highly operating devices are getting developed for harsh environments. All these factors are contributing to the growth of the Indonesia process instrumentation market.

Indonesia's oil & gas industry is the largest consumer of process instrumentation than other industries, such as healthcare, food & beverages, chemicals, and metals & mining. Due to the presence of one of the highest oil reserves, the oil & gas industry in this country is increasingly adopting process instrumentation, which is expected to fuel the Indonesia process instrumentation market growth in the coming years.

Indonesia Process Instrumentation Market: Key Players

The top five players operating in the Indonesia process instrumentation market in 2020 were Epiroc Group, Supmea Automation, Yokogawa Electric, Krohne Group, and Parker Hannifin. The market is moderately consolidated, with several prominent players catering to domestic and international demand. Epiroc is the most prominent player in the market, followed by Supmea and Krohne Group.

Listing five key players based on a common criterion such as revenue is not feasible. Hence, we have derived this listing of "Key Five Players" in the Indonesia process instrumentation by giving weightage to the following key parameters: overall revenue, segmental revenue, brand image & industry experience, current product portfolio, innovative and advanced technology integration/material enhancements, customer base, geographical reach, new product launches, partnerships, mergers & acquisitions, and other Indonesia process instrumentation market-related activities. Opportunities for players in the industry are accelerated by the uptake of process instrumentations by oil & gas projects in Indonesia.

Indonesia Process Instrumentation Market: By Technology

Based on technology, the Indonesia process instrumentation market is classified into flow meters, pressure and temperature instrument, analytical instrument, and level meter. In 2020, the flow meter segment dominated the market. Also, the segment is expected to retain its dominance during the forecast period. The analytical instrument segment is expected to witness the fastest growing CAGR over the forecast period in the market. Analytical instruments have greater demand in the oil and gas industry throughout all the stages of oil and gas production and processing. The downstream sector accounts for the majority of market demand, as it necessitates several important parameter measurements to ensure operational safety and efficiency in downstream facilities such as refineries and facilities. Contract testing, as well as production and exploration, account for a substantial amount of demand, but certain technical sectors' growth is expected to be below average due to the oil industry in particular sluggish and flatlining demand.

Impact of COVID-19 Pandemic on Indonesia Process Instrumentation Market

The impact of the COVID-19 pandemic and uncertainty in the macroeconomic situation is the biggest concerns for stakeholders in Indonesia's oil and gas industry similar to their counterparts around the world. However, the oil and gas landscape both in Indonesia and globally has only worsened due to the COVID-19 pandemic which has significantly reduced energy demand and consequently hydrocarbon prices. Over the last decade, the oil and gas business in Indonesia and around the world has seen substantial volatility. Along with global geopolitical and economic factors, the unexpected COVID-19 pandemic plunged the global oil price into a second major downturn in a decade.

Indonesia Process Instrumentation Market: Market Initiative

Market initiatives are a strategy adopted by companies to expand their footprint worldwide and meet the growing customer demand. The market players present in the Indonesia process instrumentation market are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings.

  • KROHNE recently announced the next KROHNE Insights 1to1 series, which will cover the latest innovation and issues in industrial process monitoring. The firm held an exhibition at its Duisburg headquarters from February 21–March 11, 2022, and offered personal virtual tours led by KROHNE professionals.
  • The OPTITEMP TT 12 temperature transmitter is designed with Pt100/Pt1000 sensors and thermocouples. OPTITEMP TT 12 now supports thermocouple types B, E, J, K, N, R, S, and T, making it suitable for most basic RTD and TC applications globally.

Indonesia Process Instrumentation Market Revenue and Forecast to 2028 (US$ Million)

Indonesia Process Instrumentation Market Revenue and Forecast to 2028 (US$ Million)

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Indonesia Process Instrumentation Market Segmentation

Indonesia Process Instrumentation Market – by Technology

  • Flow Meter
  • Pressure and Temperature Instrument
  • Analytical Instrument
  • Level Meter

Indonesia Process Instrumentation Market - Companies Mentioned

  • PT KROHNE INDONESIA
  • PT Parker Hannifin Indonesia
  • PT Epiroc Southern Asia
  • Flowx Smart Control Systerm Co., Ltd.
  • PT Yokogawa Indonesia.
  • Supmea Indonesia
  • Flotech Controls Pte Ltd.
  1. PT Krohne Indonesia
  2. PT Parker Hannifin Indonesia
  3. PT Epiroc Southern Asia
  4. Flowx Smart Control System Co. Ltd
  5. PT Yokogawa Indonesia
  6. Supmea Indonesia
  7. Flotech Controls Pte Ltd
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in Indonesia Process Instrumentation Market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in Indonesia Process Instrumentation Market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Indonesia market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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