Dublin, Jan. 18, 2023 (GLOBE NEWSWIRE) -- The "Distributed Control Systems (DCS) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
The global distributed control systems market was valued at US$ 17.99 Bn in 2020 and is expected to register strong growth, expanding at a CAGR of 4.3% during the forecast period from 2022 to 2030.
Asia Pacific to remain largest Distributed Control Systems (DCS) market by 2030
Asia Pacific represented the largest distributed control systems market worldwide in 2020 and presumed to retain its leading position throughout the forecast period 2022 - 2030. The dominance and anticipated growth in the region is majorly on the back of heightened investments made in augmenting the oil & gas production and refining capacities. China remains the engine of growth, contributing well over one-third of the regions market value.
In a bid to minimize its dependence on coal-fired power generation, China is expanding its wind, solar, and nuclear power generation capacities, which, in turn is driving demand for distributed control systems. In developed countries with strong installed base, the need for the aftermarket portfolio and value-added services including system upgrades, consulting, and optimization of lifecycle costs has surged over the last few years. The trend shall prolong during the forecast period.
Value Contribution from Power & Energy Sector to be Highest throughout the Forecast Period
The adoption of distributed control systems was highest in power & energy and oil & gas segments in the base year 2020. The value contribution from these segments collectively stood at over 48.0% in the same year. Increased automation in a bid to achieve power quality, plant efficiency and limit dependency on conventional fossil fuels has highlighted the importance of the power industry, thereby paving the way for the increased adoption of distributed control systems in the industry worldwide. The trend is expected to protract, driving demand for DCS solutions & services in the power & energy sector during the forecast period.
Market Segmentation
Component
- Hardware
- Software
- Services
End-use Vertical
- Oil & Gas
- Power Generation
- Industrial Manufacturing
- Pharmaceutical
- Paper and Pulp
- Food & Beverage
- Others (Utilities, Chemicals, etc.)
Application
- Batch-oriented Process
- Continuous Process
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Distributed Control Systems (DCS) market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Distributed Control Systems (DCS) market?
- Which is the largest regional market for Distributed Control Systems (DCS) market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Distributed Control Systems (DCS) market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Distributed Control Systems (DCS) market worldwide?
Key Topics Covered:
1. Preface
2. Executive Summary
3. Distributed Control Systems (DCS) Market: Competitive Analysis
4. Distributed Control Systems (DCS) Market: Macro Analysis & Market Dynamics
5. Distributed Control Systems (DCS) Market: By Component, 2020-2030, USD (Billion)
6. Distributed Control Systems (DCS) Market: By End-use Vertical, 2020-2030, USD (Billion)
7. Distributed Control Systems (DCS) Market: By Application, 2020-2030, USD (Billion)
8. North America Distributed Control Systems (DCS) Market, 2020-2030, USD (Billion)
9. UK and European Union Distributed Control Systems (DCS) Market, 2020-2030, USD (Billion)
10. Asia Pacific Distributed Control Systems (DCS) Market, 2020-2030, USD (Billion)
11. Latin America Distributed Control Systems (DCS) Market, 2020-2030, USD (Billion)
12. Middle East and Africa Distributed Control Systems (DCS) Market, 2020-2030, USD (Billion)
13. Company Profile
Companies Mentioned
- ABB Group
- The Emerson Electric Co.
- Metso Corporation
- Honeywell International Inc.
- Yokogawa Electric
- Rockwell Automation Inc.
- General Electric
- Invensys
- Schneider Electric SE
- and Siemens AG
For more information about this report visit https://www.researchandmarkets.com/r/qebcci
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