Terminal Automation Market : Industry Trends and Technology - Update Global Forecast to 2022

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MarketsandMarkets Presents
Terminal Automation Market by Offering (Hardware
(SCADA, PLC, Security System, Field Devices, Tank
Loading Area), Software Services),Project Type
(Brownfield, and Greenfield), Vertical and
Geography - Global Forecast to 2022 The
terminal automation market was valued at USD 3.82
Billion in 2016 and is expected to reach USD 5.21
Billion by 2022 at a CAGR of 5.15 between 2017
and 2022.
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Tank loading area expected to witness high growth
rate during the forecast period The tank loading
area includes trucks, pipelines, railways and
roads, tankers, river navigation, barges, rail
tankers, and tanker trucks. The major factor
driving the growth of automated trucks in the
terminal automation brownfield market is the need
for low-cost operations and reduction in labor
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sp?id37561320 Chemical vertical of the terminal
automation market expected to grow at a higher
CAGR between 2017 and 2022 The key reason
contributing to the growth of chemical vertical
in the terminal automation market is the need for
developing the potential of digital technologies
for capitalization and value creation. Also,
companies are investing in a number of projects
related to automating chemical terminals.
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MarketsandMarkets Presents
For instance, in February 2014, Honeywell
International Inc. (US) launched Fusion4 MSC-L, a
multi-stream controller for loading products from
refineries and chemical plants into transport
vehicles such as railcars, tankers, and barges.
It has multiple features such as explosion proof
design, expandable I/Os, and start-up time of
less than one minute. Terminal automation
market in APAC likely to grow at a higher CAGR
during the forecast period The terminal
automation market in APAC is driven by the
increase in the number of terminal automation
projects in countries such as India, Malaysia,
and the Philippines. Honeywell International Inc.
(US) received a contract from Vietnam Oil and Gas
Group (Vietnam) to provide professional
consulting services and advice to the company and
its subsidiaries for future investment
projects
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Major players operating in the terminal
automation market ABB Ltd. (Switzerland),
Honeywell International, Inc. (US), Siemens AG
(Germany), Yokogawa Electric Corporation (Japan),
Rockwell Automation, Inc. (US), Schneider
Electric (France), Emerson Electric Corporation
(US), Endress Hauser AG (Switzerland),
TechnipFMC plc (UK), and Implico GmbH
(Germany).
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