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Market Brief

Oil and Gas Sensors Market to Grow at CAGR of 6.54%, an Industrial Info Market Brief

According to Research and Markets, the global oil and gas sensors market is expected to grow at compound annual growth rate (CAGR) 6.54% in 2019-2024. With diminishing oil resources and the rising cost of production, the requirement to conduct the drilling operations at exact locations becomes absolute. The growth of sensors in the oil and gas industry is mainly driven by the need to reduce costs. See graph below for investment by global region. Industrial Info is tracking Oil & Gas upstream projects worth $1.52 trillion.

Released Friday, June 28, 2019

Oil and Gas Sensors Market to Grow at CAGR of 6.54%, an Industrial Info Market Brief
According to Research and Markets, the global oil and gas sensors market is expected to grow at compound annual growth rate (CAGR) 6.54% in 2019-2024. With diminishing oil resources and the rising cost of production, the requirement to conduct the drilling operations at exact locations becomes absolute. The growth of sensors in the oil and gas industry is mainly driven by the need to reduce costs. See graph below for investment by global region.

Industrial Info is tracking Oil & Gas upstream projects worth $1.52 trillion.
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