PUBLISHER: The Insight Partners | PRODUCT CODE: 1463870
PUBLISHER: The Insight Partners | PRODUCT CODE: 1463870
The distributed control system market size valued at US$ 17.30 billion in 2022 and is expected to reach US$ 26.36 billion by 2030; it is estimated to record a CAGR of 5.4% from 2022 to 2030.
Asia Pacific hold the largest distributed control system market share, followed by Europe and North America. Europe's distributed control system market is analyzed on the basis of trends across industries in Germany, France, Italy, the UK, Russia, and the Rest of Europe. Spain, Switzerland, the Netherlands, and Denmark are among the major countries in the Rest of Europe. These countries are technologically advanced, and the governments of the countries mentioned above continuously invest substantial amounts in adopting robust and enhanced technologies. In addition, awareness related to advanced technologies is higher among European individuals and industries; hence, several technology providers find it easy to trade their products, solutions, and services in Europe.
The European Union's (EU) target to drastically reduce greenhouse gas (GHG) emissions and raise the usage of carbon-neutral fuel systems to generate power is progressing steeply. For instance, in February 2024, European Commission announced that they are aiming to cut its net greenhouse gas pollution by 90% by 2040 as part of its mission to become the world's first climate-neutral continent. The continuous emphasis on the remodeling of power generation systems from conventional fuel to renewable sources (especially hydropower) is enabling the power generation industry players to procure technologically advanced systems and solutions to monitor, control/access, and protect equipment, thereby enhancing productivity. This factor is catalyzing the growth of the market in Europe. In addition, several European countries have experienced growth in the number of hydropower generation units in recent years, which is bolstering the growth of the distributed control system market in Europe.
Several other industries also procure distributed control systems that benefit their business to align with an asymmetric business path. Industries such as pharmaceutical, food & beverages, and chemical have played a dynamic role in driving the market growth over the years. The food & beverages industry is growing at a faster pace in European countries, and this factor poses a significant growth opportunity to the market players offering their products to food & beverages industry players.
The automotive industry in Europe is another industry showcasing year-on-year growth owing to the rise in the production of electric vehicles. For instance, according to the European Automobile Manufacturers Association, EU car sales surged by almost 17% in the first three quarters of 2023, with 12% growth forecast for the full year. In addition, Battery-electric car sales grew by 55% in the first three quarters of 2023. The implementation of sequence- and interlock-based control systems for automotive applications, including machining, parts transportation, and assembly, was primarily based on programmable logic controllers (PLC). Thus, the rise in automotive production and the growth in demand for DCS among component manufacturers are key factors influencing the distributed control system market growth in Europe.
ABB Ltd, Emerson Electric Co, General Electric Co, Honeywell International Inc, NovaTech LLC, Rockwell Automation Inc, Schneider Electric SE, Siemens AG, Toshiba Corp, and Yokogawa Electric Corp are among the key players profiled in the distributed control system market report. Several other essential players were analyzed for a holistic view of the market and its ecosystem. The distributed control system market report provides detailed market insights, which help the key players strategize their growth.
The overall distributed control system market size has been derived using both primary and secondary sources. To begin the distributed control system market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the distributed control system market. The process also serves the purpose of obtaining an overview and distributed control system market forecast with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the distributed control system market.