Distributed Control System Industry 2019, Size, Share, Growth 2023
Posted by mrfr123 on November 29th, 2019
Distributed Control System Market Scenario
A distributed control system (DCS) controls various complex processes of plants with the help of a suite of configuration tools to provide flexibility and simplicity to processes. DCS allows central control over components and processes and helps increase capacity, ease maintenance, and meet EPA requirements. Rapid industrialization on a global scale, especially in the APAC region has led to substantial growth in the global DCS market. The global DCS market is anticipated to capture a CAGR of 5.30% over the forecast period of 2016-2023, affirms Market Research Future (MRFR) in a detailed study. MRFR further asserts that the DCS market is likely to reach USD 4,411 bn by the end of 2023.
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The expansion of the power and energy sector has provided favorable grounds for the growth of the DCS market. The burgeoning population and its subsequent energy requirements have created relentless pressure to increase power generation capacities as well as reduce energy consumption in the industrial sector to make significant cost saving.
The oil & gas industry is also contributing to the growth of the DCS market. Various processes of the oil & gas industry such as vacuum distillation, hydrocracking, naphtha hydrotreating, and coking require DCS which generates massive demand within the market.
The global distributed control system market has been segmented based on component, application, and end-use.
By component, the distributed control system market has been segmented into hardware, software, and services.
By application, the distributed control system market has been segmented into continuous process and batch-oriented process.
By end-use, the distributed control system market has been segmented into oil & gas, power generation, food & beverage, chemicals, pharmaceutical, metal & mining, paper & pulp, and others.
By region, the distributed control system market has been segmented into North America, South America, Asia Pacific (APAC), The Middle East & Africa (MEA), and Europe.
The APAC is the largest distributed control system market. Fast track industrialization in the region has necessitated the need to increase power generation capacity to align with the towering energy demand.
Additionally, growing awareness regarding energy conservation and the need to provide uninterrupted power supply to various needs of the burgeoning population of the region. China is the major contributor to the distributed control system market. China has become the global manufacturing hub and deploys distributed control system extensively to improve productional efficiency. Besides, emerging countries such as Australia, Indonesia, and Thailand also have huge potential for the growth of the distributed control system market. The APAC market accounts for almost 31.40% share of the global market.
North America is the second largest distributed control system market. The prolific growth of the oil & gas industry translates into huge demand within the distributed control system market. Onshore and offshore oil drilling activities in the Gulf of Mexico has also reflected positively on the growth of the market.
Emerson (USA), Schneider Electric (France), Rockwell Automation (US), General Electric (US), Yokogawa (Japan), Metso Corporation (Finland), Siemens (Germany), Azbil Corporation (Japan), Honeywell International Inc. (US), Toshiba (Japan), Hitachi (Japan), and ABB (Switzerland) are the distinguished players in the distributed control system market.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.Also See: System Market, Distributed Control, Control System, Dcs Market, System, Market, Distributed
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