Distributed Control Systems Market 2022: Power Sector & Augmented Power Generation on Wheels - Industrial Segment to Drive highest CAGR


Posted May 28, 2019 by almiracoyne

Distributed Control Systems Market by Industry (Oil & Gas, Chemicals, Power Generation, Metals and Mining, Pharmaceutical, Paper and Pulp, Food and Beverage), Component (Hardware, Software, Services), Application, and Region

 
The global distributed control systems market is projected to reach USD 20.33 billion by 2022, at a CAGR of 4.97%, from 2017 to 2022. This growth is primarily driven by the increased use of renewable and nuclear energy for power generation and booming power sector and augmented power generation capacities worldwide.

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Asia Pacific is expected to be the largest market for DCS followed by North America till 2022. The global market is dominated by a few players including ABB (Switzerland), Emerson (US), Siemens (Germany), Honeywell (US), and Schneider Electric (France).

The major strategies adopted by the players include contracts & agreements, new product launches, expansions and investments, mergers & acquisitions, and joint ventures and collaborations. Contracts & agreements was the most commonly adopted strategy from 2014 to August 2017. Industry players also adopted new product developments, which was the second most widely followed strategy, during the same period.

ABB is a leading manufacturer of electrical products. The company operates through 4 segments, namely, power grids, electrification products, discrete automation and motion, and process automation. It offers distributed control system products through its process automation segment. The company offers a wide range of products and software for distributed control (DCS) systems. ABB mainly focuses on the human factor and, hence, provides interfaces between panels and complete control room systems to drive productivity, quality, and safety. ABB operates in more than 100 countries across Europe, the Americas, and Asia, Middle East and Africa (AMEA). It has approximately 320 operating and holding subsidiaries worldwide, including ABB India Limited, ABB Argentina, ABB Canada, and ABB Beijing Drive Systems. In May 2016, ABB was awarded a contract by TAKRAF GmbH to provide a complete power and automation solution to the company.

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Emerson provides manufacturing products and services to a wide range of commercial and consumer markets worldwide. The company operates through 4 segments, namely, process management, climate technologies, industrial automation, and commercial and residential solutions. It offers distributed control systems (DCS) through its process management and industrial automation segments. The company’s process management segment offers both systems and software to end-users. Emerson’s most popular DCS systems are Ovation and DeltaV. It provides its services to various industries such as oil & gas, refining, chemicals and power generation, pharmaceuticals, food and beverage, pulp and paper, and metals and mining. In 2016, 42% of Emerson’s process management segment’s revenue was generated in North America. This was followed by Asia Pacific and Europe, accounting for 23% and 19%, respectively, in the same year. The company has 220 manufacturing locations and operates in 150 countries. In September 2017, the company launched the DeltaV PK controller, an advanced version of the DeltaV distributed control system.

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Issued By MarketsandMarkets™ INC.
Country United States
Categories Business , Energy , Industry
Tags Distributed Control Systems Market , Distributed Control Systems demand overview , Distributed Control Systems Industry , Distributed Control Systems information
Last Updated May 28, 2019