North America Oil & Gas Sensors Market Forecast to 2031 – Regional Analysis – by Type (Pressure Sensor, Temperature Sensor, Flow Sensor, and Level Sensor), Connectivity (Wired and Wireless), Function (Remote Monitoring, Condition Monitoring and Maintenance, Analysis and Simulation, and Others), and Application (Upstream, Midstream, and Downstream)
The North America oil & gas sensors market was valued at US$ 2,545.65 million in 2023 and is expected to reach US$ 3,990.45 million by 2031; it is estimated to register a CAGR of 5.8% from 2023 to 2031.
Expanding Oil and Gas Industry Fuels North America Oil & Gas Sensors Market
The oil & gas industry has played a significant role in the economic transformation of the world. Industry accounted for the largest share of global consumption of energy resources. Natural gas is projected to be the fastest-growing fossil fuel used in the coming years. Globally, the new oil supplies are to increase and fulfill energy demand. According to the International Energy Agency (IEA), global oil demand is expected to rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day, with a significant requirement from the aviation and petrochemical industries. Increasing demand for oil among industries increases the demand for numerous oil & gas sensors such as pressure sensors, temperature sensors, flow sensors, and level sensors for monitoring and controlling plant operations. Furthermore, the expanding oil & gas industry associated with increasing investment in oil and gas exploration activities is boosting the market. For instance, according to the Urwald eV report published on November 2023, between 2021 and 2023, 384 businesses across the have reported an average capital expenditure of more than $10 million in oil and gas exploration activities. These investments support oil and gas companies to adopt technologically advanced oil & gas sensors by expanding their business worldwide.
North America Oil & Gas Sensors Market Overview
The oil & gas sensors market growth in North America is attributed to the growing adoption of oil & gas sensors across upstream, midstream, and downstream applications, among others, for monitoring the working of devices and equipment used in the energy & power sector. Moreover, expansion activities of the oil & gas industries are anticipated to create lucrative opportunities for market growth during the forecast period. According to data published by the US Energy Information Administration in April 2024, the US and Canada respectively rank 1st and 4th among the top oil producers in the world. The US and Canada produced 21.91 and 5.76 million barrels per day in 2023, respectively, accounting for 22% and 6% shares of global oil production. Increasing demand and production of oil results in a greater scale of oil & gas production, resulting in the need for a larger number of sensors at plants for performance monitoring. In June 2023, PetroChem Canada announced its plan to take measures to promote the development of petrochemical industries. Petrochemical refineries require oil & gas sensors such as temperature and flow sensors in numerous applications, including crude oil distillation, catalytic cracking, and hydroprocessing. These sensors are used for maintaining precise temperature profiles within distillation columns, thereby ensuring the proper separation of crude oil into diesel and gasoline.
North America Oil & Gas Sensors Market Revenue and Forecast to 2031 (US$ Million)
North America Oil & Gas Sensors Market Segmentation
The North America oil & gas sensors market is categorized into type, connectivity, function, application, and country.
Based on type, the North America oil & gas sensors market is segmented pressure sensor, temperature sensor, flow sensor, and level sensor. The pressure sensor segment held the largest market share in 2023.
In terms of connectivity, the North America oil & gas sensors market is bifurcated into wired and wireless. The wired segment held a larger market share in 2023.
By function, the North America oil & gas sensors market is segmented into remote monitoring, condition monitoring and maintenance, analysis and simulation, and others. The remote monitoring segment held the largest market share in 2023.
By application, the North America oil & gas sensors market is segmented into upstream, midstream, and downstream. The upstream segment held the largest market share in 2023.
By country, the North America oil & gas sensors market is segmented into the US, Canada, and Mexico. The US dominated the North America oil & gas sensors market share in 2023.
Honeywell International Inc, TE Connectivity Ltd, Robert Bosch GmbH, ABB Ltd, Siemens AG, Rockwell Automation Inc, Analog Devices Inc, Emerson Electric Co, SKF AB, and GE Vernova are some of the leading companies operating in the North America oil & gas sensors market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. North America Oil & Gas Sensors Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. North America Oil & Gas Sensors Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Ultrasonic Sensors in Oil and Gas Applications
5.1.2 Expanding Oil and Gas Industry
5.1.3 Development of Internet of Things (IoT)-based Sensors
5.2 Market Restraints
5.2.1 High Costs Associated with Oil and Gas Sensors
5.3 Market Opportunities
5.3.1 Rising Investment in Capacity Expansion of Offshore Projects
5.3.2 Increasing Technological Advancements
5.4 Future Trends
5.4.1 Evolution of 5G Technology
5.5 Impact of Drivers and Restraints:
6. Oil & Gas Sensors Market – North America Analysis
6.1 North America Oil & Gas Sensors Market Revenue (US$ Million), 2021–2031
6.2 North America Oil & Gas Sensors Market Forecast Analysis
7. North America Oil & Gas Sensors Market Analysis – by Type
7.1 Pressure Sensor
7.1.1 Overview
7.1.2 Pressure Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Temperature Sensor
7.2.1 Overview
7.2.2 Temperature Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Flow Sensor
7.3.1 Overview
7.3.2 Flow Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Level Sensor
7.4.1 Overview
7.4.2 Level Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
8. North America Oil & Gas Sensors Market Analysis – by Connectivity
8.1 Wired
8.1.1 Overview
8.1.2 Wired: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Wireless
8.2.1 Overview
8.2.2 Wireless: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
9. North America Oil & Gas Sensors Market Analysis – by Function
9.1 Remote Monitoring
9.1.1 Overview
9.1.2 Remote Monitoring: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
9.2 Condition Monitoring and Maintenance
9.2.1 Overview
9.2.2 Condition Monitoring and Maintenance: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
9.3 Analysis and Simulation
9.3.1 Overview
9.3.2 Analysis and Simulation: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
10. North America Oil & Gas Sensors Market Analysis – by Application
10.1 Upstream
10.1.1 Overview
10.1.2 Upstream: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
10.2 Midstream
10.2.1 Overview
10.2.2 Midstream: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
10.3 Downstream
10.3.1 Overview
10.3.2 Downstream: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
11. North America Oil & Gas Sensors Market – Country Analysis
11.1 North America
11.1.1 North America Oil & Gas Sensors Market – Revenue and Forecast Analysis – by Country
11.1.1.1 North America Oil & Gas Sensors Market – Revenue and Forecast Analysis – by Country
11.1.1.2 United States: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.2.1 United States: North America Oil & Gas Sensors Market Breakdown, by Type
11.1.1.2.2 United States: North America Oil & Gas Sensors Market Breakdown, by Connectivity
11.1.1.2.3 United States: North America Oil & Gas Sensors Market Breakdown, by Function
11.1.1.2.4 United States: North America Oil & Gas Sensors Market Breakdown, by Application
11.1.1.3 Canada: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.3.1 Canada: North America Oil & Gas Sensors Market Breakdown, by Type
11.1.1.3.2 Canada: North America Oil & Gas Sensors Market Breakdown, by Connectivity
11.1.1.3.3 Canada: North America Oil & Gas Sensors Market Breakdown, by Function
11.1.1.3.4 Canada: North America Oil & Gas Sensors Market Breakdown, by Application
11.1.1.4 Mexico: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
11.1.1.4.1 Mexico: North America Oil & Gas Sensors Market Breakdown, by Type
11.1.1.4.2 Mexico: North America Oil & Gas Sensors Market Breakdown, by Connectivity
11.1.1.4.3 Mexico: North America Oil & Gas Sensors Market Breakdown, by Function
11.1.1.4.4 Mexico: North America Oil & Gas Sensors Market Breakdown, by Application
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Product News & Company News
14. Company Profiles
14.1 Honeywell International Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 TE Connectivity Ltd
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Robert Bosch GmbH
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 ABB Ltd
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Siemens AG
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Rockwell Automation Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Analog Devices Inc
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Emerson Electric Co
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 SKF AB
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 GE Vernova
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
List of Tables
Table 1. North America Oil & Gas Sensors Market Segmentation
Table 2. List of Vendors
Table 3. North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 5. North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Connectivity
Table 6. North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Function
Table 7. North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 8. North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Country
Table 9. United States: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 10. United States: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Connectivity
Table 11. United States: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Function
Table 12. United States: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 13. Canada: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 14. Canada: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Connectivity
Table 15. Canada: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Function
Table 16. Canada: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 17. Mexico: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Type
Table 18. Mexico: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Connectivity
Table 19. Mexico: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Function
Table 20. Mexico: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million) – by Application
Table 21. List of Abbreviation
List of Figures
Figure 1. North America Oil & Gas Sensors Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. North America Oil & Gas Sensors Market – Key Market Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. North America Oil & Gas Sensors Market Revenue (US$ Million), 2021–2031
Figure 6. North America Oil & Gas Sensors Market Share (%) – by Type (2023 and 2031)
Figure 7. Pressure Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Temperature Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 9. Flow Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. Level Sensor: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. North America Oil & Gas Sensors Market Share (%) – by Connectivity (2023 and 2031)
Figure 12. Wired: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. Wireless: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. North America Oil & Gas Sensors Market Share (%) – by Function (2023 and 2031)
Figure 15. Remote Monitoring: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 16. Condition Monitoring and Maintenance: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 17. Analysis and Simulation: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 18. Others: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 19. North America Oil & Gas Sensors Market Share (%) – by Application (2023 and 2031)
Figure 20. Upstream: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 21. Midstream: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 22. Downstream: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 23. North America Oil & Gas Sensors Market Breakdown, by Key Countries – Revenue (2023) (US$ Million)
Figure 24. North America Oil & Gas Sensors Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 25. United States: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 26. Canada: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 27. Mexico: North America Oil & Gas Sensors Market – Revenue and Forecast to 2031 (US$ Million)
Figure 28. Heat Map Analysis by Key Players
Figure 29. Company Positioning & Concentration
- Honeywell International Inc
- TE Connectivity Ltd
- Robert Bosch GmbH
- ABB Ltd
- Siemens AG
- Rockwell Automation Inc
- Analog Devices Inc
- Emerson Electric Co
- SKF AB
- GE Vernova
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America oil & gas sensors 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 the North America oil & gas sensors 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 North America market trends and outlook coupled with the factors driving the North America oil & gas sensors 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.