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U.S. Process Instrumentation Market Adding $13.6 Billion by 2018

The 2014 Market Forecast published in by the Measurement, Control & Automation Association (MCAA) provides a five year market forecast for Process Instrumentation & Automation (PI&A) equipment segmented by major process industries that shows the total U.S. market value will grow to $13.6 Billion ($1.3 Billion in Canada) by 2018.

Paul Rasmusson, President of Global Automation Research LLC, notes that the continuing investment by the Chemical industry in unconventional gas as a feedstock and the construction of fertilizer and ethylene plants which will make the U.S. an exporter, for the first time, of these products instead of a heavy importer.

The Forecast predicts a 5-year U.S. CAGR of 4.2% with the Oil & Gas, Chemicals, Refining and Pharmaceutical industries projected as growing at above-average rates while Water & Wastewater, Electric Utilities, F&B, Cement and Mining will remain below average due to factors such as price pressure, cyclical downturns or overcapacity. 

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