Press release
Global Process Simulation Software in Oil and Gas Market Valuation USD 2.21 Bn by 2030
Process Simulation Software in Oil and Gas Market
The global process simulation software market for oil & gas is gaining remarkable momentum. Valued at USD 1.64 billion in 2023, it's projected to reach USD 2.21 billion by 2030, growing at a CAGR of 4.3% during 2024-2030. Enhanced digitization, AI‐driven analytics and integration with digital twins are driving adoption in complex operations.
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►Competitive Landscape
Competitive landscape is concentrated among heavyweights like Aspen Technology, Schneider Electric, AVEVA Group, Honeywell International Inc., Siemens AG, KBC Advanced Technologies, Yokogawa, Emerson, and Process System Enterprise.
►Regional Insights
♦ 🇺🇸 United States - Growth & Opportunity
North America, led by the United States, currently dominates market share due to strong digital transformation in the oil & gas industry, infrastructure modernization, and early cloud adoption .
Consolidation
Recent M&A activity includes AVEVA Group's acquisition of simulation toolsets to expand its digital engineering portfolio; Aspen Technology completed integration of AI‐powered modules in 2023.
Trends & Updates
● AI‐powered simulation by AspenTech cuts refinery design cycles by 30% (Aug 2023)
● Schneider Electric added carbon-capture modules in Feb 2022
♦ Asia Pacific - Growth & Opportunity
APAC shows strong upside, spurred by expanding production/refining in China, India, and Japan, and investments in energy efficiency .
Consolidation
Siemens AG and AVEVA entered partnerships in India to co‐develop simulation solutions; Honeywell recently acquired a niche AI start‐up in Singapore for enhanced analytics.
Trends & Updates
Implementation of integrated digital twins and real-time IoT-based collaborations have accelerated localized deployments.
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♦ Middle East & Africa - Growth & Opportunity
With significant oil/gas reserves in Saudi Arabia, UAE, and Nigeria, ME&A is ripe for simulation software adoption, aligning with sovereign diversification strategies.
Consolidation
Yokogawa expanded presence via joint venture in Abu Dhabi, while Emerson Electric Co. acquired a regional automation-tech firm.
Trends & Updates
Deployment of on‐site cloud‐hybrid solutions for offshore fields is on the rise, enabling real-time optimization under complex conditions.
♦ 🇪🇺 Europe - Growth & Opportunity
Europe's oil & gas sector in the UK, Norway, and Germany drives demand, aligning with decarbonization and stringent emission standards.
Consolidation
Schneider Electric boosted its footprint by absorbing carbon-capture simulation assets; AVEVA expanded cloud-based offerings through European R&D centers.
Trends & Updates
Integration with EU carbon regulations and sustainable engineering pushes further adoption; many providers introduced modules for CO2-freezing, dehydration, and advanced flaring controls.
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► Market Segmentation: In-Depth Analysis:
by Component
Software
Cloud Based
On-premise
Services
Consultancy
Training
Support
by Operation Type
On-shore
Off-shore
Heavy Oil
Unconventional
by Application
Upstream
Flow Assurance
Fluid Properties
Production Facilities Equipment Design and Analysis
Gathering Systems
Midstream
Storage
For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/global-process-simulation-software-in-oil-and-gas-market/41671/
► Learn about the top players driving innovation in the Market :
1. MOSIMTEC, LLC
2. ESI Group
3. The Anylogic Company
4. Chemstations Inc.
5. Eq-comp
6. KBC (Yokogawa)
7. Bryan Research & Engineering, LLC.
8. Schneider Electric
9. ProSim
10. Aspen Technology, Inc.
11. Honeywell Process Solution
12. AVEVA Group Plc
13. Virtual Materials Group Inc. (Schlumberger)
14. Kongsberg Group
15. Chemstations Inc.
16. GSE Systems
17. Process System Enterprise Ltd.
18. CULGI B.V.
19. Schlumberger Limited.
20. Simul8 Corporation
21. ANSYS, Inc.
22. MOSIMTEC, LLC
23. Hexagon AB
24. TietoEVRY
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