Industrial Automation Oil and Gas Market Competitive Positioning Review & Size Forecas
As global oil demand reached 103.84 million barrels per day (mb/d) in 2024, fueled by Non-OECD Asia, China, India, the Middle East, Africa, and Latin America, the pressure to optimize operations and protect margins intensified. Simultaneously, global oil supply is projected to rise by 3.0 mb/d in 2025 and 2.4 mb/d in 2026, emphasizing the critical role of automation, AI-driven analytics, and predictive maintenance in maximizing asset efficiency.