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Rapid Industrialisation Propels GCC’s Process Transmitter Market into the Next Growth Phase Finds Frost & Sullivan - Addressing replacement demand is the key to market expansion - IndustrialAutomation.Frost.com
Rapid Industrialisation Propels GCC’s Process Transmitter Market into the Next Growth Phase Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2012/12/19 - Addressing replacement demand is the key to market expansion - IndustrialAutomation.Frost.com.

   
 
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Rapid, diversified industrialisation and energy infrastructure growth have galvanised the Gulf Cooperation Council (GCC) process transmitters market. Process transmitters already have a significant installed base in the region, since they are an integral part of industrial processes. Hence, the annual replacement demand due to the maintenance and overhaul cycles of various plants across industries further contributes to the market’s growth.

New analysis from Frost & Sullivan (industrialautomation.frost.com), Analysis of the GCC Process Transmitters Market, finds that the market earned revenues of over USD 300.0 million in 2011 and estimates this to cross USD 400.0 million in 2016.

The increased focus on selling value-added products, rather than crude oil and natural gas, is expected to spell a period of significant growth for downstream industries – refining and petrochemicals across the GCC. This will encourage the adoption of process transmitters. The upgrade of existing plants with modern automation systems and increased safety requirements is also expected to create significant opportunities, such as, the replacement of switches and gauges with process transmitters.

"With over 35 GW of power capacity addition expected, the power and desalination industry is expected to be a major growth driver over the forecast period," said Frost & Sullivan Analyst for Industrial Automation & Process Control Practice. "The migration towards better level and flow technologies will further boost overall market growth."

Saudi Arabia is anticipated to continue being the leading process transmitter market in the GCC, as it diversifies its industries to reduce dependence on oil and gas revenues and increases employment opportunities for a burgeoning population. In Qatar, significant demand will stem from power and infrastructure projects in the near-term.

However, the success of international contractors has hampered the prospects of domestic equipment suppliers. Orders for projects are placed outside the GCC, reducing the overall opportunities available to suppliers within the region.

However, it is imperative, in the interest of long-term strategic benefits, to have a strong local presence. "End users prefer locally established services and product companies," noted Frost & Sullivan Analyst. "Establishing a regional base will facilitate strategic partnerships, preferential procurement contracts, and long-term service agreements that can fulfill strategic goals."

Countries, especially Saudi Arabia and Qatar, encourage local presence and product indigenisation, but still need to lay emphasis on local procurement by Engineering, Procurement and Construction (EPC)contractors to encourage localisation efforts of suppliers.

If you are interested in more information on this research, please send an email to Tanu Chopra/ Deepshri Iyer, Corporate Communications, at tanu.chopra[.]frost.com /deepshrii[.]frost.com, with your full name, company name, title, telephone number, company email address, company Website, city, state and country.

Analysis of the GCC Process Transmitters Market is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Middle East Distributed Control Systems Market and Middle East Centrifugal Compressors market All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Analysis of the GCC Process Transmitters Market / P63E-10

Contact:
Nimisha Iyer, Corporate Communications - Middle East, North Africa and South Asia
P: +91.98200 50519 / F: +91.22.2832 4713 - E: niyer[.]frost.com.

 
 
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Rapid Industrialisation Propels GCC’s Process Transmitter Market into the Next Growth Phase Finds Frost & Sullivan

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Publisher Contact: Tanu Chopra / Deepshri Iyer 
+91 9820480089 / +91 2266072038 tanu.chopra[.]frost.com /deepshrii[.]frost.com
 
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