Distributed Control System Market is expected to reach US$ 26.36 billion by 2030

Construction of New Manufacturing Facilities to Provide Opportunities for Distributed Control System Market Growth During 2022–2030

According to our latest market study on "Distributed Control System Market Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Component and Industry," the market was 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. The report includes growth prospects in light of current distributed control system market trends and driving factors influencing the market growth.

The construction of manufacturing facilities for producing goods is growing worldwide, majorly in developed and developing countries. For instance, in Q2 of 2022, the construction of four semiconductor chip manufacturing plants started in Texas, US. The project aims to strengthen the domestic supply chain of semiconductors and is expected to be completed in Q4 2030. Also, in Q2 of 2023, the construction of the Krishnagiri EV manufacturing park started in India. The project includes the construction of an EV four-wheeler manufacturing plant and an EV cell manufacturing plant. The project is expected to be completed in Q4 2026 with an aim to increase the production of EVs and their parts in the country. This rising number of manufacturing plants generates the need for distributed control systems in order to control and manage operations precisely. Also, DCS helps automate and coordinate almost all aspects of production, which can further help optimize productivity, ensure quality, and improve sustainability. Therefore, the construction of new manufacturing facilities is expected to provide opportunities for the distributed control system market growth.

Distributed Control System Market Analysis – by Geography, 2022

Source: The Insight Partners Analysis

The scope of the distributed control system market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Japan is a technologically advanced country in APAC and holds a significant distributed control system market share in the region. The automotive sector and the power generation industry are growing at a noteworthy pace in the country, and this is reflecting the escalation in demand for DCS. Japanese companies in the power generation and automotive industry are seeking technologically advanced solutions to streamline their business process to increase productivity and gain profit. The strong awareness of the benefits of DCS among Japanese companies is driving organizations to opt for DCS, which is throttling the growth of the distributed control systems market. Further, Japan is investing in power plants. For instance, in June 2023, the Japanese Government announced plans to invest US$ 107.5 billion to supply the country with hydrogen over the next 15 years. This will boost hydrogen supply to 12 million metric ton a year by 2040 and enable similar projects to Okinawa Electric's. The government will provide JPY 6–8 trillion of the funding, while the remainder will come from the private sector.

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 major players were also studied and analyzed during the distributed control system market research study to get a holistic view of the market and its ecosystem.

In terms of revenue, China holds the largest distributed control system market share. Several industries in the country continue to invest substantial amounts toward the procurement of DCS, which catalyzes the growth of the distribution control systems market. Industries such as power generation and oil & gas are among the leading industries driving the distributed control systems market. On the other hand, the pharmaceutical and food & beverage industries are expected to emerge as the fastest-growing industries to adopt DCS during the forecast period. This is due to the continuous expansion of manufacturing plants in the country, boosting the demand for distributed control systems. For instance, in November 2023, Nu Skin Enterprises, Inc. announced the opening of its new manufacturing facility in Shanghai, China. Nu Skin invested approximately US$ 55 million in the new facility over the past few years, which will increase production capacity and supply chain responsiveness for the company in China and its other Asian markets. In addition, in September 2023, DuPont opened its new adhesives manufacturing facility in Zhangjiagang (ZJG), East China. This new facility will produce adhesives to serve customers in the transportation industry, primarily in lightweight and fast-growing vehicle electrification applications. China is the leading producer of automobiles in APAC. The automotive industry is a key contributor to the distributed control systems market. Hence, the growth in automobile manufacturing is likely to have a significant impact on the distributed control system market forecast in the next few years.

India is one of the fastest-growing economies in APAC, with several industries showcasing strong growth year on year. The power generation industry is one of the leading industries experiencing significant growth in the country. The Indian power generation industry comprises a significantly higher number of players, which is a mix of government-funded companies as well as private companies. Owing to the increased customer base, most private companies emphasize formulating innovative strategies. The implementation of DCS is one of the most favorable strategies, and various companies have benefitted from implementing the technology. The use of DCS has enabled companies to enhance plant performance, reduce downtime, and achieve a higher return on investments (ROI). The factors mentioned above are boosting the distributed control system market growth in India. In addition, the shipments of DCS to chemical, pharmaceuticals, and food & beverages, among other industries in the country, are increasing, which is foreseen to drive the distributed control system market during the forecast period.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com