Indonesia Process Instrumentation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Flow Meter, Pressure and Temperature Instrument, Analytical Instrument, and Level Meter)
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.
Market Introduction
Process Instrumentation is used to monitor, simulate, analyze, and regulate the manufacturing process by taking timely measurements of essential process parameters with the purpose of improving process safety and quality. . Instruments, which are 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.
Market Overview and Dynamics
Prominent stakeholders in the Indonesia process instrumentation market ecosystem include instruments, components, process instrumentation manufacturers, and end users. The demand for the Indonesia process instrumentation market is driven by the factors such as the increase in focus of manufacturers on achieving cost-saving, technological advancements, and increasing demand for process instrumentation to achieve accuracy, energy efficiency, repeatability, reliability, and improvement capacity.
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 meter, level meter, 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.
Industries are focusing on improving production efficiency and reducing operational costs to sustain themselves in the fast-changing industrial environment. The efficiency of the production facility is assessed by its capability to respond quickly to unexpected rapid changes in preferences, demand, and resources availability. Instrumentation products help analyze and measure process parameters, such as temperature, pressure, humidity, and level. Industries are adopting process instrumentation solutions across their manufacturing facilities to streamline operations, achieve better productivity, and decrease labor-related costs. Technological innovations and the rise in demand for process control systems are propelling the growth of the Indonesia process instrumentation market.
The rising adoption of automation in the industrial sector is offering benefits to the Indonesian process instrumentation market due to the increased awareness among industrialists about automation benefits concerning product quality, capital expenditure, and time to market. The process instrumentation helps control process variables and measurements in industrial settings by using hardware and software tools.
The role of the Government in increasing awareness about the benefits of the technology and providing funds for the uptake of machines with advanced technologies in industries is fueling the growth of the Indonesia process instrumentation market. In the country, the oil & gas industry is the largest buyer of automation equipment due to the availability of natural resources of oil and coal.
The presence of strong market players, such as Yokogawa, KROHNE, and Parker Hannifin, is contributing to the growth of the Indonesian process instrumentation market.
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 the oil and gas industry in Indonesia 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.
COVID-19 also led to a 9% reduction in world oil consumption in 2020. As a result of the epidemic, there was less business, travel, products transportation, and manufacturing production. This factor is causing end user businesses to shift their focus away from fossil fuels and toward renewable energy/clean energy transformations. Many sectors are attempting to make up for a lost time by increasing the production of petrochemicals produced from natural gas and oil. Alternatives for petrochemical products, such as specialized chemicals and bio-based polymers, are being developed by petrochemical industry experts. On the other hand, petrochemicals are attempted to be produced at a fraction of the cost.
Key Market Segments
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 Indonesia process instrumentation market, according to the market research study. Also, the segment is expected to retain its dominance during the forecast period as well. Moreover, the analytical instrument segment is expected to witness the fastest growing CAGR over the forecast period in the Indonesia process instrumentation market.
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 Indonesia process instrumentation market, according to the market research study. Also, the segment is expected to retain its dominance during the forecast period as well. Moreover, the analytical instrument segment is expected to witness the fastest growing CAGR over the forecast period in the Indonesia process instrumentation market.
Major Sources and Companies Listed
A few top companies operating in the Indonesia process instrumentation market are PT KROHNE INDONESIA, PT Parker Hannifin Indonesia, PT Epiroc Southern Asia, Flowx Smart Control System Co., Ltd., PT Yokogawa Indonesia, Supmea Indonesia, and Flotech Controls Pte Ltd. Various other companies are also coming up with new technologies and offerings, helping the market expand in terms of revenue.
Reasons to Buy Report
- To understand the Indonesia process instrumentation market landscape and identify market segments that are most likely to guarantee a strong return.
- To stay ahead of the race by comprehending the ever-changing competitive landscape for the Indonesia process instrumentation market.
- To efficiently plan M&A and partnership deals in the Indonesia process instrumentation market by identifying market segments with the most promising probable sales.
- To make knowledgeable business decisions from the perceptive and comprehensive analysis of the market performance of various Indonesia process instrumentation market segments.
- To obtain revenue forecast for the market by various segments from 2020 to 2028 in US$.
Indonesia Process Instrumentation Market Segmentation
Indonesia Process Instrumentation Market – by Technology
- Flow Meter
- Pressure and Temperature Instrument
- Analytical Instrument
- Level Meter
Indonesia Process Instrumentation Market - Companies Mentioned
- PT KROHNE INDONESIA
- PT Parker Hannifin Indonesia
- PT Epiroc Southern Asia
- Flowx Smart Control Systerm Co., Ltd.
- PT Yokogawa Indonesia.
- Supmea Indonesia
- Flotech Controls Pte Ltd.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Process Instrumentation Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Indonesia
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Process Instrumentation Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Increasing Focus of Manufacturers on Achieving Cost-Efficient and Cost-Saving
5.1.2 Rising Adoption of Process Instrumentation in Industrial Sector
5.2 Market Restraints
5.2.1 High Cost of Installation
5.3 Market Opportunities
5.3.1 Surging Demand for Natural Gas and Crude Oil
5.3.2 Increasing Adoption of Industry 4.0 by Manufacturers
5.4 Future Trends
5.4.1 Digitization of Testing and Analytical Instruments
6. Process Instrumentation Market - Indonesia Market Analysis
6.1 Process Instrumentation Indonesia Market Overview
6.2 Process Instrumentation Market Forecast and Analysis
6.3 Market Positioning - Global Key Players
7. Process Instrumentation Market Analysis - By Technology
7.1 Overview
7.2 Process Instrumentation Market, By Technology (2020 and 2028)
7.3 Flow Meter
7.3.1 Overview
7.3.2 Flow meter: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Pressure and Temperature Instrument
7.4.1 Overview
7.4.2 Pressure and Temperature Instrument: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Analytical Instrument
7.5.1 Overview
7.5.2 Analytical instruments: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Level Meter
7.6.1 Overview
7.6.2 Level Meter: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
8. Process Instrumentation Market Analysis - By Flow Meter
8.1 Process Instrumentation Market, By Flow Meter (2020 and 2028)
8.1.1 Coriolis Market
8.1.2 Coriolis: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
8.1.3 Ultrasonic Market
8.1.4 Ultrasonic: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
8.1.5 Variable Market
8.1.6 Variable: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
8.1.7 Electromagnetic: Market
8.1.8 Electromagnetic: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
9. Impact of COVID-19 Pandemic on Indonesia Process Instrumentation Market
9.1 Overview
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
11. Company Profiles
11.1 PT KROHNE INDONESIA
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 PT Parker Hannifin Indonesia
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 PT Epiroc Southern Asia
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Flowx Smart Control Systerm Co., Ltd.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 PT Yokogawa Indonesia.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Supmea Indonesia
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Flotech Controls Pte Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. List of Abbreviation
LIST OF FIGURES
Figure 1. Process Instrumentation Market Segmentation
Figure 2. Indonesia Process Instrumentation Market Overview
Figure 3. Flow Meter Segment held the Largest Share of Process Instrumentation Market
Figure 4. Variable Segment held the Largest Share of Process Instrumentation Market
Figure 5. Indonesia - PEST Analysis
Figure 6. Process Instrumentation Market- Ecosystem Analysis
Figure 7. Process Instrumentation Market: Impact Analysis of Drivers and Restraints
Figure 8. Process Instrumentation Market Forecast and Analysis (US$ Million)
Figure 9. Process Instrumentation Market Revenue Share, by Technology (2020 and 2028)
Figure 10. Flow Meter: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 11. Pressure and Temperature Instrument: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. Analytical instruments: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Level Meter: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 14. Process Instrumentation Market Revenue Share, by Flow Meter (2020 and 2028)
Figure 15. Coriolis: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Ultrasonic: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Variable: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Electromagnetic: Process Instrumentation Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Impact of COVID-19 Pandemic in Indonesia
Indonesia Process Instrumentation Market- Companies Mentioned
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