London, 14 May 2015 – Technavio has published a new report on the automation and instrumentation market in the chemical and petrochemical industry in Europe, which is expected to grow at a CAGR of nearly 28% from 2015-2019.
Automation: About the report
The latest report by Technavio draws attention towards an increase in intra-European trade, as the chemical industry in Europe recovers after the economic crisis.
“The removal of trade barriers between European countries has increased trade and has contributed to the growth of intra-European chemical sales, which now account for more than half of all sales in the overall chemical market in Europe,” says Faisal Ghaus, Vice President of Technavio.
The new Technavio report also emphasizes the appearance of more automation solution offerings as a major market growth driver. Vendors are trying to develop and provide enterprise solutions for business processes and integrate them with existing automation system portfolios.
“Vertical integration helps vendors provide solution packages where continuous information flow and coordination in new product design and development with less human interaction will result in minimal product error and reduced costs,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Automation and Instrumentation Market in Europe for Water and Wastewater Industry 2015-2019
Automation and Instrumentation Market in Europe in the Oil and Gas Industry 2015-2019
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20Technavio%3C/strong%…
