South & Central America Oil & Gas Sensors Market Forecast to 2031 - Regional Analysis - by Type, Connectivity, Function, and Application

Description

List of Tables

The South & Central America oil & gas sensors market was valued at US$ 260.03 million in 2023 and is expected to reach US$ 297.95 million by 2031; it is estimated to register a CAGR of 1.7% from 2023 to 2031.

Development of Internet of Things (IoT)-based Sensors Fuels South & Central America Oil & Gas Sensors Market

The evolution of IoT technology in the oil & gas industry is transforming operations by increasing operational efficiency and workers' safety. These developments make it possible for oil & gas companies to monitor equipment and pipelines in real-time, perform predictive maintenance, and control operations remotely by decreasing downtime and risk. In oil & gas-based applications, IoT-based sensors collect, and track asset operation, pressure, speed, temperature, or other factors based on predetermined conditions. IoT-based sensors help transfer the data in real time to an external storage location, which might be on the cloud. This further enables plant operators to analyze the data collected by the sensors to determine whether the asset is properly working, broken, or close to failure. Moreover, IoT-based sensors ensure the safety of critical systems by providing real-time monitoring.

IoT-based sensors are used in various applications in the oil & gas industry to ensure the reliability, safety, and longevity of machines operating in a harsh environment. The growing demand for IoT-based sensors has encouraged manufacturers to develop new innovative sensors or upgrade existing sensors with additional features. For instance, in April 2024, TE Connectivity Ltd expanded its IoT wireless pressure sensor by launching a 69xxN wireless pressure sensor. These sensors provide support to oil & gas companies in advancing data collection processes and precisely monitoring the plant's condition. The sensor engineered with low power wide area networking (LoRaWAN) technology provides long-range coverage. This compact sensor fits effortlessly into various environments, offers a wide pressure sensing range, simplifies system integration, reduces the need for multiple sensors, and shows high durability and resistance to corrosion. The scalability, extended battery life, and low power consumption support users to enhance system reliability and lower maintenance frequency in a hazardous environment. Thus, the development of Internet of Things (IoT)-based sensors contributes to the oil & gas sensors market growth.

South & Central America Oil & Gas Sensors Market Overview

According to the Global Energy Association data published in May 2023, oil production in South America increased by 370,000 barrels per day (bpd) in 2023. Brazil is a key growth driver of oil production in the region, with an increasing output of 240,000 bpd. A surge in production can be ascribed to the establishment of new floating production storage and offloading (FPSO) units at pre-salt fields on the Atlantic shelf-the Anna Nery FPSO unit and Almirante Barroso FPSO units having production capacities of 70,000 bpd and 150,000 bpd oil, respectively. Growing oil production and plant capacity expansion are among the activities triggering the demand for oil & gas sensors for accurate and reliable monitoring of pressure, temperature, and flow rates in production plants. Moreover, significant benefits provided by oil & gas sensors include reduction in downtime, optimization of operations, and betterment of asset and employee safety, which also contribute to the oil & gas sensor market growth in South & Central America.

South & Central America Oil & Gas Sensors Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Oil & Gas Sensors Market Segmentation

TheSouth & Central America oil & gas sensors market is categorized into type, connectivity, function, application, and country.

Based on type, the South & Central 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 South & Central America oil & gas sensors market is bifurcated into wired and wireless. The wired segment held a larger market share in 2023.

By function, the South & Central 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 South & Central 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 South & Central America oil & gas sensors market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central 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 South & Central America oil & gas sensors market.

Product Code: BMIRE00031080

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. South & Central America Oil & Gas Sensors Market Landscape

4.1 Overview
4.2 Ecosystem Analysis
- 4.2.1 List of Vendors in the Value Chain

5. South & Central 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 - South & Central America Analysis

6.1 Overview
6.2 South & Central America Oil & Gas Sensors Market Forecast Analysis

7. South & Central America Oil & Gas Sensors Market Analysis - by Type

7.1 Pressure Sensor
- 7.1.1 Overview
- 7.1.2 Pressure Sensor: South & Central 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: South & Central 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: South & Central 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: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

8. South & Central America Oil & Gas Sensors Market Analysis - by Connectivity

8.1 Wired
- 8.1.1 Overview
- 8.1.2 Wired: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Wireless
- 8.2.1 Overview
- 8.2.2 Wireless: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

9. South & Central America Oil & Gas Sensors Market Analysis - by Function

9.1 Remote Monitoring
- 9.1.1 Overview
- 9.1.2 Remote Monitoring: South & Central 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: South & Central 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: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Others
- 9.4.1 Overview
- 9.4.2 Others: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

10. South & Central America Oil & Gas Sensors Market Analysis - by Application

10.1 Upstream
- 10.1.1 Overview
- 10.1.2 Upstream: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
10.2 Midstream
- 10.2.1 Overview
- 10.2.2 Midstream: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
10.3 Downstream
- 10.3.1 Overview
- 10.3.2 Downstream: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

11. South & Central America Oil & Gas Sensors Market - Country Analysis

11.1 South & Central America Oil & Gas Market , by Key Countries - Revenue (2023) (US$ Million)
- 11.1.1 South & Central America Oil & Gas Sensors Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.1 South & Central America Oil & Gas Sensors Market - Revenue and Forecast Analysis - by Country
  - 11.1.1.2 Brazil: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.2.1 Brazil: South & Central America Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.2.2 Brazil: South & Central America Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.2.3 Brazil: South & Central America Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.2.4 Brazil: South & Central America Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.1.3 Argentina: South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.3.1 Argentina: South & Central America Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.3.2 Argentina: South & Central America Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.3.3 Argentina: South & Central America Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.3.4 Argentina: South & Central America Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.1.4 Rest of South & Central America Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.1.4.1 Rest of South & Central America Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.1.4.2 Rest of South & Central America Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.1.4.3 Rest of South & Central America Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.1.4.4 Rest of South & Central 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