Europe Process Instrumentation Market - Forecast(2024 - 2030)

The report “Europe Process Instrumentation Market–Forecast (2024-2030)”, by Industry ARC, covers an in-depth analysis of the following segments of the Europe Process Instrumentation market.

By Measurement Principles: Level Measurement, Flow Measurement, Pressure Measurement, Temperature Measurement, Humidity Measurement, Position Measurement, Analytical Measurement, Others

By Connectivity: Wired, Wireless

By Product Type: Control Valve, Analyzers, Field Instrument & Sensors, Controllers, Others

By End Use Industry: Oil and Gas, Chemical, Pharmaceutical, Food and Beverage, Metal and Mining, Power Generation, Pulp and Paper, Waste and Wastewater, Others.

By Geography: Germany, France, Italy, United Kingdom, Spain, Scandinavia, Rest of Europe.

• Europe market accounted for the majority share of the total Europe Process Instrumentation market share in 2023. Process instrumentation is a key area of focus in Germany, which is known for its high-tech manufacturing industry. German companies are renowned for their precision engineering and innovation in process instrumentation technology. This has resulted in a strong and competitive process instrumentation industry in the country.

• On April 29, 2022, Endress+Hauser recently stated that it had spent more than €12 million expanding its silicon pressure sensor center of expertise in Stahnsdorf, Germany, close to Berlin. to meet the rising demand for silicon pressure instruments, a new production hall was added to the existing structure. 

The flow measurement segment dominated the Europe Process Instrumentation market in 2023. A flow measurement instrument or sensors, which measures the rate of flow or the quantity of flow, is widely used to measure the flow of liquids, gases, and vapors across various industry verticals including chemical, power generation, water & wastewater, food & beverage, and so on. The demand for flow measurement process instruments in Europe has been steadily rising in recent years. This increase can be attributed to several factors, including the growing importance of accurate and efficient flow measurement in various industries, such as oil and gas, water and wastewater, pharmaceuticals, and food and beverage. Additionally, stringent regulatory requirements and the need for improved process control have driven the adoption of advanced flow measurement technologies. The push for greater energy efficiency and sustainability in manufacturing processes has further fueled the demand for precise flow measurement instruments. As a result, companies in Europe are increasingly investing in cutting-edge flow measurement technologies to optimize their operations and meet evolving industry standards.

Wireless segment is estimated to witness the highest growth during 2023-2030. The Europe region is experiencing a noteworthy surge in the demand for wireless field instruments, reflecting a transformative shift in industrial practices. Industries, including manufacturing, utilities, and process automation, are increasingly adopting wireless technology to enable remote data collection and control. This trend is driven by the advantages of reduced installation costs, enhanced flexibility, and the ability to access real-time information from remote locations. Moreover, the need for improved efficiency, sustainability, and compliance with environmental standards has spurred this demand. As Europe embraces the era of Industry 4.0 and the Industrial Internet of Things (IIoT), wireless field instruments play a pivotal role in advancing productivity, safety, and competitiveness across various sectors. 

The chemical segment dominated the Europe Process Instrumentation market in 2023. The chemical sector in Europe is experiencing a notable surge in the demand for process instrumentation. This upswing can be attributed to several key factors, including a heightened focus on safety and regulatory compliance, as the industry deals with hazardous materials and complex processes. Additionally, there is a growing emphasis on enhancing production efficiency and reducing environmental impact, which drives the need for advanced monitoring and control systems. Furthermore, as innovation and automation continue to reshape the chemical industry, the demand for cutting-edge instrumentation for precise measurements and process optimization has significantly increased. This trend underscores a fundamental shift towards technology-driven solutions to meet the evolving challenges within the European chemical sector.

Germany dominated the Europe Process Instrumentation market attributing a share of 38% in 2023, owing to the wider penetration of process instrumentation equipment across various industry verticals. As a global leader in manufacturing and engineering, Germany places a premium on precision and quality, driving the need for advanced instrumentation in sectors like chemicals, pharmaceuticals, and food processing. Stringent regulatory standards and a focus on environmental sustainability have further accelerated this demand, with businesses actively seeking instrumentation solutions to monitor and optimize their processes. The ongoing Industry 4.0 initiative has spurred digitalization and automation, with a strong emphasis on cutting-edge instrumentation to enhance productivity and maintain competitiveness. This surge in demand signifies Germany's commitment to innovation and efficiency in its pivotal process industries. On 11th January 2022, Terranova Instruments, an Italian company that specializes in process instrumentation and owns the venerable brands Valcom, Spriano, and Mec-Rela, announced the acquisition of TM Tecnomatic, a Cremonese company that develops instruments for measuring flow and temperature. The growing need for process control systems and technological advancements are the factors driving the market for process instrumentation systems.

Due to the growing acceptance of industry 4.0 principles in manufacturing sectors like oil & gas, food & beverage, and chemicals the process instrumentation market is predicted to expand at a significant rate during the forecast period. With the introduction of industry 4.0, the majority of manufacturing industry processes and systems are automated using several technologies including cloud computing, and IOT which enables production units to run efficiently and without human error around the clock. From the stage of acquiring raw materials through the creation of the finished product, these technologies aid in reducing the production cycle and achieving process efficiency.

The implementation of process automation in companies has numerous advantages, including increased productivity, enhanced managerial reporting, improved team performance, decreased errors, lower costs, and higher quality. The most recent industrial revolution to affect the market for process instrumentation is level sensors with Industry 4.0 capabilities. To give the most accurate and efficient level measuring techniques, internet of things (IoT) sensors are outfitted with advanced connectivity, predictive analysis, and remote diagnostics. In October 2022, Endress+Hauser unveiled CA78 and CA79 TOC analyzers, The CA78 and CA79 online TOC analyzers offer constant and accurate monitoring to guarantee reliable operations, legal compliance, and high-quality goods.

The advanced developments in wireless technology have opened up new ways for this market with improved quality and an increase in production, which is further expected to fuel the demand for wireless instrumentation.  The integration of wireless communication technologies such as Bluetooth, Wi-Fi, and LoRaWAN has eliminated the need for cumbersome cabling, making installation and maintenance significantly easier and cost-effective. Moreover, the development of low-power, long-lasting batteries and energy-efficient sensors ensures extended operational lifespans, reducing the need for frequent replacements. Enhanced security measures, like robust encryption and authentication protocols, have addressed concerns about data privacy and cyber threats, making wireless solutions more reliable. Real-time data access and remote monitoring have become seamless, enabling businesses to make informed decisions promptly. These technological innovations continue to drive the widespread adoption of wireless field instruments, offering greater flexibility, efficiency, and scalability across various industries.

The need for significant initial investments to set up an automated manufacturing facility is one of the most important issues impeding the growth of the process instrumentation market. Deploying instrumentation devices like online analytical analyzers and transmitters requires a significant investment. Apart from the initial costs, there might be several unpredictable costs, which may surpass the real cost saved by accomplishing process automation in the company. Some of these costs include R&D costs of automating a process, anticipatory repairs, training, and maintenance costs. Hence, it becomes important for the operators in this sector to analyze all the hidden costs and implement the systems accordingly.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Europe Process Instrumentation Market. In 2023, the Europe Process Instrumentation market share has been consolidated by the top ten players accounting for 50% of the share. Major players in the Europe Process Instrumentation market are Siemens AG, Honeywell International Inc., ABB Ltd., Endress+Hauser Group, Emerson Electric Co., Mettler Toledo, WIKA Alexander Wiegand SE & Co. KG, Process Sensing Technologies Limited, Schneider Electric SE, Hach (Danaher Corporation)

Developments:

 In February 2023, ABB launched its latest release of the ABB Ability Symphony Plus distributed control system (DCS) to further support digital transformation in the power generation and water industries.

 Siemens Process Instrumentation is offering innovative, single-source measurement solutions to increase plant efficiency. In 2022, Seimens released SIPROCESS GA700 – the new standard for flexibility in gas analytics. Depending on the measuring task, SIPROCESS GA700 can be individually adapted to the respective requirements of the process by fitting selectable modules. It also introduced a new thermal conductivity detector for MAXUM air bath/ airless GC in measuring the chemical composition.