October 2003

Trends and Resources

HP Impact: Automation market in process industries forecast for $58 billion

The process automation market, whose resilience is directly related to industry prosperity and health of the economy, has experienced mediocre growth. However, the total automation busi..

Weirauch, Wendy, Hydrocarbon Processing Staff

The process automation market, whose resilience is directly related to industry prosperity and health of the economy, has experienced mediocre growth. However, the total automation business to process industries worldwide is projected to grow 4.7%/yr over the next five years. The market is forecast to be over $58 billion in 2007, according to a new ARC Advisory Group study (www.arccweb.com). With excess capacity globally across many industries, few manufacturers are building new plants now. However, with expected economic growth, this will be absorbed. Although users will remain very conservative in their spending decisions f

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