Process Controllers Market: Introduction
Process controllers maintain output or input of a system by controlling variables, such as pressure, temperature and level or flow within the benchmarked range. Accurate control of these process variables is very critical in industrial processes as they enhance product quality while enabling automation and allowing smaller workforce requirements. Also, process controllers enable monitoring from a central location, thereby reducing complexity and eliminating faults.
Process controllers are installed for control applications in almost all industries and they can be customized as well as upgraded easily & quickly by changing their input and output module. Based on installation, process controllers are of three types: wall mounted, floor mounted and panel mounted. Further, based on their process type, they can could be further segmented into continuous type process controllers and step type process controllers.
Process Controllers Market: Drivers and Challenges
All production or manufacturing activities involve gases, fluids, chemicals and other similar compounds which require monitoring and controlling according to their respective industry and regulatory standards, which in turn, will fuel the market of process controllers in the coming years.
Process controllers are extensively used in the oil & gas industry for various processes, such as flaring and controlling machine processes in offshore and natural gas production activities. Food and beverage industries are expected to witness notable growth in the adoption of process controllers in related companies and growing concern regarding food safety, productivity and process automation & optimization in developing counties, such as Brazil, India and China, is anticipated to contribute significantly to the market growth of process controllers over the projected period. Increasing demand for electricity and growing environmental degradation caused by excessive use of coal for electricity production are leading to a transition in electricity production processes. Unlike coal-produced electricity, the adoption of solar- and wind-produced electricity is rising, which will in turn, will increase the demand for process controllers in certain regions, such as Europe and Asia Pacific.
Cumulatively, all the above factors, including increasing interest in miniaturization and improved efficiency and productivity, are expected to drive the demand for process controllers over the forecast period. However, on the other side high initial installation cost could hinder the growth of the market and availability of gray market could restrain the market growth of the prominent players over the forecast period.
Global Process Controllers: Market Segmentation
On the basis of product type, the global Process Controllers market has been segmented as:
On the basis of process type, the global Process Controllers market has been segmented as:
On the basis of End Use, the global Process Controllers market has been segmented as:
Process Controllers Market: Regional Overview
Geographically, the process controllers market is segmented into North America, Latin America, Europe, China, Japan, Middle East and Africa and South East Asia.
North America is likely to hold a significant share in the process controller market owing to technological advancements and stringent regulations covering control of gases, fluids, chemicals etc. Developing regions in Asia Pacific are expected to be second in the run due to growing industrialization and bettering economy conditions, especially in China and India. Exploration of oil & gas fields in Middle East & Africa countries, such as Nigeria, will increase the employment of control systems in production/manufacturing machines, thereby augmenting the expansion of process controllers market during the forecast period.
Global Process Controllers Market: Key Players
Examples of some of the key players operating in the global Process Controllers market:
Brief Approach to Research
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
Regional analysis includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.