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

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
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 85
Inquire Before Buy




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)
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

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 Parker Hannifin Indonesia
  • PT Epiroc Southern Asia
  • Flowx Smart Control Systerm Co., Ltd.
  • PT Yokogawa Indonesia.
  • Supmea Indonesia
  • Flotech Controls Pte Ltd.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

  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

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Related Reports