October 23, 2019
According to the new research report available with Market Study Report LLC under the title ‘Global Distributed Control System (DCS) Market Insights, Forecast to 2025’, the worldwide distributed control system market is projected to reach US $8860 million by the year 2025.
Distributed control system is used extensively across various industries such as oil & gas, petroleum, manufacturing plants, and downstream product processes. DCS is computerized control system with numerous control loops which independently monitors and operated the plant processes.
Apart from using DSC, oil & gas industry also involves application from downhole drilling tools. These tools used for well drilling and are known to optimize the production efficiency. Downhole drilling tools include drill collar, kelly stem, drill bit, stabilizer, and drill pipe.
Growing demand for fuels across the globe is compelling the manufacturers to increase their production capacity, thereby propelling the growth of distribute control system market. Stringent regulations concerning effectiveness of oil & gas plants, coupled with safety norms and emission control standards will further drive the DCS market growth. Other factors aiding the industrial expansion are rising offshore exploration projects and need for automation across oil & gas industry.
As per the report, distributed control system market was worth US $6560 million in 2018 and is expected to grow with a CAGR of 3.8% over the analysis period. Details encompassing production and consumption graphs, revenue shares, and market trends for various segments are given in the report.
Based on type, distributed control system market is categorized as roller cone drill bit and fixed cutter drill bit. While considering the application spectrum, the market is segmented as gas field and oil field.
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In terms of regional landscape, the global DCS market is segregated into five main geographies; Europe comprises of France, Italy, UK, Germany, Russia, and rest of Europe; Canada, Mexico, and United States form North America; Brazil and rest of South America come under Central & South America; Asia Pacific is split into China, Australia, India, South Korea, Japan, Indonesia, Vietnam, Malaysia, Thailand, and Philippines; and South Africa, GCC countries, Turkey, Egypt, and rest of Middle East & Africa come under Middle East & Africa.
The prominent contenders of distributed control system market are Baker Hughes, Downhole Oil Tools, Halliburton, Challenger downhole Tools, National Oilwell Varco, Bilco Tools, Schlumberger, American Oilfield Tools, and Weatherford among others.
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