At 4.6% CAGR, Europe Distributed Control Systems Market is Projected to be Worth US$ 7,371.21 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe distributed control systems market was valued at US$ 5,159.27 million in 2022 and is expected to reach US$ 7,371.21 million by 2030, registering a CAGR of 4.6% from 2022 to 2030. Growing power and energy sector and increasing demand from oil & gas industry are among the critical factors attributed to the Europe distributed control systems market expansion.

With the increasing industrialization and economic development, the demand for electricity is growing at an impressive pace. Electricity is one of the fastest-growing sources of energy worldwide, and during the forecast period, it is expected to dominate the overall energy demand worldwide. The power sector is one of the most promising sectors, especially in developing and underdeveloped regions. It is attracting more investments, majorly due to power infrastructure development, upgrade of aging infrastructure, change in energy requirements, clean energy initiatives, and urbanization. Moreover, per the International Energy Agency (IEA), renewable capacity will meet 35% of global power generation by 2025. It also predicts that renewable energy sources such as wind and solar power, together with nuclear, are likely to, on average, meet more than 90% of the rise in global demand by 2025. In addition, the growing demand for cooling and heating applications in both industrial and residential sectors is another factor fueling the electricity demand worldwide. All these factors are expected to drive the demand for electricity, which is further rising the need to install distributed control systems, as it helps to centralize control, real-time monitoring of all the operations, and ensure efficient and safety, boosting the market growth.

On the contrary, vulnerability to cyberattacks hampers the growth of Europe distributed control systems market.

Based on component, the Europe distributed control systems market is segmented into hardware, software, and services. The hardware segment held 46.8% share of the Europe distributed control systems market in 2022, amassing US$ 2,415.07 million. It is projected to garner US$ 3,287.73 million by 2030 to expand at 3.9% CAGR during 2022–2030.

In terms of industry, the Europe distributed control systems market is segmented into power generation, oil and gas, pharmaceutical, food and beverages, chemicals, and other industries. The oil and gas segment held 30.2% share of the Europe distributed control systems market in 2022, amassing US$ 1,560.29 million. It is estimated to garner US$ 1,958.25 million by 2030 to expand at 2.9% CAGR during 2022–2030.

Based on country, the Europe distributed control systems market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 24.7% share of Europe distributed control systems market in 2022, amassing US$ 1,273.31 million. It is projected to garner US$ 1,868.82 million by 2030 to expand at 4.9% CAGR during 2022–2030.

Key players operating in the Europe distributed control systems market are Honeywell International Inc, General Electric Co, ABB Ltd, Yokogawa Electric Corp, Toshiba Corp, Siemens AG, Emerson Electric Co, NovaTech LLC, Schneider Electric SE, and Rockwell Automation Inc, among others.

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