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

List of Tables

The Europe oil & gas sensors market was valued at US$ 1,555.46 million in 2023 and is expected to reach US$ 2,364.17 million by 2031; it is estimated to register a CAGR of 5.4% from 2023 to 2031.

Growing Demand for Ultrasonic Sensors in Oil & Gas Applications Drives Europe Oil & Gas Sensors Market

The oil & gas business is becoming increasingly important as countries seek alternative decarbonized renewable energy sources. However, the growing demand for oil & gas has led to high production output from existing infrastructure that must be more dependable and efficient. To meet these demands, oil & gas sensor companies, such as Fuji Electric Co Ltd, Honeywell International Inc, Siemens AG, and Murata Manufacturing Co Ltd, are offering ultrasonic sensors that measure liquids in severe and complex process conditions. These sensors are widely used for remote monitoring, condition monitoring & maintenance, analysis & simulation, and flow control in various oil & gas applications. An ultrasonic flow sensor is used in upstream, midstream, and downstream applications to compute the mass flow or volume flow of fluids in pipelines, tanks, and other processing equipment. The sensor also monitors equipment such as monitor pumps, flowlines, valves, and any other component that requires a precise flow rate to maintain the flow of oil. Moreover, the growing demand for nonintrusive measurement in midstream and downstream oil & gas applications is increasing the requirement for ultrasonic sensors for monitoring liquid volumes during various chemical reactions at the refining and purification processes. These sensors accurately monitor the flow of liquids without interrupting ongoing operations.

Many companies are adopting smart ultrasonic sensors in a variety of oil & gas applications. For instance, in May 2023, Polysense Technologies Inc. launched iEdge 4.0-based smart ultrasonic sensors to offer a wide range of monitoring capabilities in upstream, midstream, and downstream applications. iEdge 4.0-based smart ultrasonic sensors are highly capable of measuring waste overflow, equipment distance, and oil consumption and provide accurate data to users. This data further helps oil & gas operators to improve their operational efficiency and reduce additional costs. Thus, the growing demand for ultrasonic sensors in oil & gas applications drives the oil and sensors market.

Europe Oil & Gas Sensors Market Overview

Germany, the UK, France, Italy, Spain, Russia, and other European countries are experiencing a rise in the adoption of technologically advanced devices and equipment. IoT-based wireless sensors help prevent overheating and equipment malfunctions in critical environments of research laboratories, oil plants, and gas pipelines. Sensor companies in European countries are engaging in strategic developments to grow their businesses in the region. In January 2023, Italcoppie Sensori Srl signed an agreement to acquire Reckmann GmbH to expand its presence in Germany. The acquisition allows both companies to develop and upgrade their existing portfolio of temperature sensors. Temperature sensors are being used as early warning systems to prevent fire accidents.

Europe Oil & Gas Sensors Market Revenue and Forecast to 2031 (US$ Million)

Europe Oil & Gas Sensors Market Segmentation

The Europe oil & gas sensors market is categorized into type, connectivity, function, application, and country.

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

By function, the Europe 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 Europe oil & gas sensors market is segmented into upstream, midstream, and downstream. The upstream segment held the largest market share in 2023.

By country, the Europe oil & gas sensors market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe 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 Europe oil & gas sensors market.

Product Code: BMIRE00031064

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. Europe Oil & Gas Sensors Market Landscape

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

5. Europe 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 - Europe Analysis

6.1 Europe Oil & Gas Sensors Market Revenue (US$ Million), 2021-2031
6.2 Europe Oil & Gas Sensors Market Forecast Analysis

7. Europe Oil & Gas Sensors Market Analysis - by Type

7.1 Pressure Sensor
- 7.1.1 Overview
- 7.1.2 Pressure Sensor: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Temperature Sensor
- 7.2.1 Overview
- 7.2.2 Temperature Sensor: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Flow Sensor
- 7.3.1 Overview
- 7.3.2 Flow Sensor: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Level Sensor
- 7.4.1 Overview
- 7.4.2 Level Sensor: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)

8. Europe Oil & Gas Sensors Market Analysis - by Connectivity

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

9. Europe Oil & Gas Sensors Market Analysis - by Function

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

10. Europe Oil & Gas Sensors Market Analysis - by Application

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

11. Europe Oil & Gas Sensors Market - Country Analysis

11.1 Europe
- 11.1.1 Europe Oil & Gas Sensors Market Overview
- 11.1.2 Europe Oil & Gas Sensors Market Breakdown, by Key Countries, 2023 and 2031 (%)
  - 11.1.2.1 Europe Oil & Gas Sensors Market - Revenue and Forecast Analysis - by Country
  - 11.1.2.2 United Kingdom: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.2.1 United Kingdom: Europe Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.2.2.2 United Kingdom: Europe Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.2.2.3 United Kingdom: Europe Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.2.2.4 United Kingdom: Europe Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.2.3 Germany: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.3.1 Germany: Europe Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.2.3.2 Germany: Europe Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.2.3.3 Germany: Europe Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.2.3.4 Germany: Europe Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.2.4 France: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.4.1 France: Europe Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.2.4.2 France: Europe Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.2.4.3 France: Europe Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.2.4.4 France: Europe Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.2.5 Italy: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.5.1 Italy: Europe Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.2.5.2 Italy: Europe Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.2.5.3 Italy: Europe Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.2.5.4 Italy: Europe Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.2.6 Russia: Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.6.1 Russia: Europe Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.2.6.2 Russia: Europe Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.2.6.3 Russia: Europe Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.2.6.4 Russia: Europe Oil & Gas Sensors Market Breakdown, by Application
  - 11.1.2.7 Rest of Europe Oil & Gas Sensors Market - Revenue and Forecast to 2031 (US$ Million)
    - 11.1.2.7.1 Rest of Europe Oil & Gas Sensors Market Breakdown, by Type
    - 11.1.2.7.2 Rest of Europe Oil & Gas Sensors Market Breakdown, by Connectivity
    - 11.1.2.7.3 Rest of Europe Oil & Gas Sensors Market Breakdown, by Function
    - 11.1.2.7.4 Rest of Europe 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