Distributed Control System (DCS) Market Overview:
The distributed control systems (DCS) market is driven by factors such as the booming power sector and augmented power generation capacities worldwide, growing industrial infrastructure in regions such as Asia Pacific, and the Middle East and Africa, and increased use of renewable and nuclear energy for power generation. Based on end-use industry, the oil & gas segment dominated the market. DCS find application in upstream and downstream operations.
The Distributed Control System (DCS) Market was valued at USD 14742 million in 2017 and is projected to reach USD 15919 million by 2022, at a CAGR of 4.59%, during the forecast period 2017 to 2022.
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Distributed Control System (DCS) Market Drivers and Restraints:
Increasing production of chemicals and the high demand in the refining industry are the major factors driving the continuous process segment. Factors such as the discovery of new oil & gas wells, refurbishment of old wells, and the need for enhanced safety and security standards in refineries are driving the demand for DCS in the oil & gas end-use industry. This industry faces the highest impact of regulations, emerging economies, interest rates and most importantly fluctuating oil and gas prices globally. The unstable energy policies across the globe hinders the development in this sector. The risk associated with the industry restricts the big investment and innovation in oil and gas industry. The use of network systems in DCS supports the troubleshooting in a stress free and rapid way. This in turn saves plenty of time while reducing the cost. Further, it is made up of digital electronic devices that uses smart technologies and there is a noticeable amount of decrease in the price of digital devices, which in turn, decreases the cost of ownership of DCS that includes manufacturing and initial purchase cost along with the service costs.
Distributed Control System (DCS) Market Geographical Segmentation:
The Distributed Control System Market is geographically segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa. Asia Pacific is expected to dominate the DCS market during the forecast period due to the increasing demand for power and growing industrial infrastructure in the region.
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Key Players of Distributed Control System (DCS) Market:
The major players of Distributed Control System (DCS) Market include equipment manufacturers such as ABB, Siemens, Honeywell, Yokogawa, Emerson, Schneider Electric, General Electric, Rockwell, Toshiba, Metso, Azbil, Novatech, Mitsubishi, Hitachi, Can-Technologies, CG Power, Chint Electric, Larsen & Toubro, Hyosung, Andritz, Mobile Automation, HollySys, ZAT, Concept Systems, and Ingeteam.
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