Albany - NY, Sept. 8, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Industrial Control For Process Manufacturing - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021," global industrial control for process manufacturing market was valued at USD 61.23 billion in 2014, growing at a CAGR of 5.2% from 2015 to 2021 to account for USD 96.20 billion in 2021.
Industrial control for process manufacturing market is primarily driven by the need for uniformity in end products in process industries. SCADA, DCS, MES and PLC systems are used for measuring, monitoring and controlling of industrial production activities. Efficient utilization of resources aimed at reducing wastage of raw materials is boosting the demand for industrial control in process manufacturing industries. Additionally rising demand for reducing time and rise in safety and security concern of machineries installed in manufacturing plants are driving the growth of this market. Demand for automation in various process industries such as oil & gas, power and food and beverages among others is aiding the overall market growth during the forecast period. Need for flexibility and easy customization of manufacturing techniques or procedures is leading to increase in demand for industrial controls for process manufacturing systems. Owing to these factors, industrial control for process manufacturing market is expected to grow during the forecast period.
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However, stagnant growth in developed economies such as North America and Europe is restraining the growth of this market. An opportunity exists in re-engineering of industrial controls with advanced control systems for process manufacturing industries in these regions. Additionally, demand for DCS, SCADA, MES and PLC from emerging economies such as Brazil, China, India and Japan owing to the increasing number of process industries in the region is paving new opportunities for various players in the market.
Distributed control system (DCS) held the highest market share accounting to USD 22.26 billion in 2015 and is expected to maintain a stable growth during the forecast period. Ability of DCS to monitor and control large plant areas is driving the growth of distributed control system market. In addition, incorporation of DCS systems in various application segments primarily in oil & gas and power plants is boosting the market growth. However, manufacturing execution system (MES) has the highest growth potential during the forecast period owing to the ease of installation and real time monitoring features of this system. This resulted in increasing application in chemical, food and beverages and health care sector among others further boosting the market growth.
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By application, oil & gas sector led the industrial control for process manufacturing market in 2015 and is expected to maintain its dominance during the forecast period. However rapid growth is anticipated in power sector due to increase in expenditure on infrastructure in emerging economies such as India, China, and Brazil. Chemical sector is one of the major contributors of industrial control for process manufacturing market owing to increasing demand for bulk production and reducing time in chemical industries.
Geographically, Americas led the industrial control for process manufacturing market in 2015 and the region is expected to continue its dominance throughout 2021. The dominance of this region is attributed to the need for energy efficient solutions and reduction of wastage of resources in process industries. Americas is closely followed by Europe which accounts for 34% of the global industrial control for process manufacturing market.
The report provides company market share analysis of the various regions participants. Key players have also been profiled on the basis of company overview, financial overview, business strategies and recent developments in the field of industrial control for process manufacturing industry. Major market participants profiled in this report include ABB Ltd., Emersion Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, Rockwell Automation, Schneider Electric S.E and Siemens AG among others.
The report covers the global industrial control for process manufacturing market, and provides estimates in terms of revenue (USD Billion) from 2015 to 2021. Market estimates on the basis of technology and application have been provided for each region.
The market has been segmented as follows:
Industrial Control for Process Manufacturing Market: By Technology
- Supervisory Control & Data Acquisition (SCADA)
- Programmable Logic Controller (PLC)
- Manufacturing Execution Systems (MES)
- Distributed Control Systems (DCS)
Industrial Control for Process Manufacturing Market: By Application
- Oil & Gas
- Food & Beverages
Industrial Control for Process Manufacturing Market: By Geography
- South America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of the World
- Middle East
The report provides a cross-sectional analysis of all the above segments with respect to the following regions:
- Asia Pacific
- Rest of the World (RoW)
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Source:Transparency Market Research