iCrowdNewswire Jan 18, 2021 7:20 AM ET
Market Research Future (MRFR) projects that the distributed control system (DCS) market 2020 can expand at a rate of 5.30% over the forecast period, which is between 2018 and 2023. We will provide covid-19 impact analysis with the report. The COVID-19 research of the distributed control system market offers an in-depth analysis post the coronavirus disease outbreak.
Top Boosters and Key Deterrents
The impact analysis on COVID-19 has been carried out by MRFR, which reveals that the energy and power industry can be profoundly affected by the plummeting demand and the crashing prices of power across regions. Keeping in mind the long-term impact of COVID-19, most of the leading companies are presently working on bringing down the costs of protecting their assets, and are also putting in efforts to ensure uninterrupted operations to control the revenue loss. While various countries are striving to find a COVID-19 breakthrough, the lockdown situation has managed to restrain the movement of materials across energy and power plants. The short term impact has resulted in a considerable downfall in the investment capacity along with a drop in power prices in the face of political turbulence, confirms the COVID-19 analysis by MRFR.
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Despite the profound impact of the SARS-CoV-2 outbreak, the market for distributed control system can expect to remain fortified as a result of the booming worldwide power sector and the high power generation capacity of plants across the globe. The expanding industrial infrastructure, especially in developing regions and the rising focus on the use of nuclear and renewable energy sources for power generation can also lead the DCS market to better heights in the preceding years.
The introduction of open source DCS solutions along with the rising preference for private or public cloud can be attractive opportunities for the leading market vendors in the near future. Moreover, nuclear and renewable power plant systems that are integrated with synchronous machines, battery-based energy storage system and wind turbine generators can boost the demand for DCS, as it helps manage and control the whole power plant system.
Component, application and end-user are the top segments as per which the DCS market has been broadly covered in the report.
The primary components covered in the market research include software, services as well as hardware.
The applications of distributed control system are continuous process as well as batch-oriented process.
The end-users in the industry include oil & gas, chemical, metals & mining, pharmaceutical, food & beverage, paper & pulp, power, and others. The oil and gas segment can be the leading end-use industry in the DCS market, on account of the mounting need for supervising the oil & gas production as well as centralized control system, which is possible with the use of DCS.
The DCS market has been regionally distributed into APAC or Asia Pacific, Europe, MEA or the Middle East & Africa, South America as well as North America. The impact of the novel coronavirus on these regions has also been covered in the market study.
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APAC is expected to remain at the top of its game, accumulating a share of 31.40% in the global market. In 2017, the Chinese market was valued at USD 1,523.5 million, and the country clinched the leading position in the region. Other significant markets for DCS in the region include Japan, and India, given the expansive manufacturing industry and the rising production level in the energy and power sector. The rapidly growing urbanization along with the intensifying competition between leading manufacturers could also mean excellent prospects for the regional market in the coming years. Also, the thriving industrial sector, which includes power generation, chemicals, pharmaceutical and oil & gas, benefits the market for distributed control system in the region.
North America comes second in the global market, as a result of the high traction of smart applications as well as IOT technologies in the region. The increasing uptake of smart devices has led to a higher demand for multifunctional microelectronics with minimum time delays and better performance. The fast expanding shale gas industry in the region has also led to parallel development of the DCS market in recent years and can do so in the following years as well. However, the COVID-19 pandemic has hit the manufacturing industry in the region, which could slow down the market growth to some extent.
- Rockwell Automation (US)
- Toshiba (Japan)
- Metso Corporation (Finland)
- General Electric (USA)
- ABB (Switzerland)
- Schneider Electric (France)
- Yokogawa (Japan)
- Honeywell International Inc. (US)
- Azbil Corporation (Japan)
- Hitachi (Japan)
- Emerson (USA)
- Siemens (Germany)
Tables Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Distributed Control System Market, By Reactor Type
5 Global Distributed Control System Market, By Strategy
6 Global Distributed Control System Market, By Capacity
7 Regional Market Analysis
8 Competitive Analysis
9 List of Tables
10 List of Figures
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