Europe Advanced Process Control Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Advanced Regulatory Control, Multivariable Model Predictive Control, Inferential Control, Sequential Control, Compressor Control), By Application (Oil And Gas, Pharmaceutical, Food And Beverage, Energy And Power, Chemical, Mining, Others), And By Country - Forecasts From 2022 To 2027
- Published : Mar 2022
- Report Code : KSI061611057
- Pages : 114
The Europe advanced process control market is projected to grow at a CAGR of 10.81% during the forecast period to reach US$492.897 million by 2027, from US$240.237 million in 2020. Advanced process control is a wide term that refers to a collection of sophisticated technologies that are used to improve plant performance in a variety of applications. The advanced process control enables firms to operate at their best, allowing them to realize considerable cost savings while also increasing income generation capabilities. The improvement in the economic situation in the region is expected to encourage organizations in the region to install sophisticated process control technologies. Furthermore, the consistent development in corporate earnings by corporations is increasing their ability to spend on their operational operations, which is supporting market expansion.
The growing need for automation solutions across various sectors is a significant driver of the European advanced process control market. Automation solutions are being used by major companies in order to make their business models as efficient as feasible. Many businesses are turning to advanced process control software to improve their processes using simple automation solutions. The increased demand from customers has resulted in a significant increase in the usage of APC software for product development. Improvement in quality is also supported by advanced process control systems, allowing processing companies to maintain their competitive advantage.
Advanced process control, on the other hand, is difficult to develop and support because of its complexity. Engineering and support demand a highly qualified team. This aspect might stymie APC adoption in several businesses. The use of technology necessitates a certain level of expertise. Research is presently conducted to make the technology more widely available and efficient in various fields. High processing costs and regular maintenance are among the few restraints. Smaller businesses hesitate to use APCs owing to a scarcity of qualified personnel and the necessity for large upfront investments.
ABB, Switzerland launched its tried-and-true ABB Ability Advanced Process Control system to the metals industry in June 2020, offering accurate modeling of process behaviors for higher process stability, output, better product quality, and cost reductions. A platform for Advanced Control and Estimation was collaboratively developed by Shell, Netherlands, and Yokogawa, Japan in June 2021 and released as part of Yokogawa's OpreX asset operations and optimization family. ControlSoft, a UK-based provider of advanced control technologies and software products used for actual process control in the industries, acquired eSimulation Inc., a leader in the field of cloud-based software solutions for midstream natural gas collecting and processing, in January 2019.
By type, the European advanced process control market can be segmented into advanced regulatory control, sequential control, multivariable model predictive control, compressor control, and inferential control. The multivariable model predictive control is expected to have a significant share in the market. Energy refineries and facilities in desperate need of expert control can benefit from a multivariable model predictive control system. Food processing, chemicals, oil and gas, and petrochemicals are all industries that use multivariable model predictive control systems.
By application, the European advanced process control market can be segmented into oil and gas, chemicals, mining, pharmaceuticals, energy and power, food and beverages, and others. In the Europe advanced process control market, the oil and gas segment is likely to have a sizable market share. The requirement for advanced process control is supported by the precise nature of industrial processes and higher automation adoption rates. With the rise of shale gas, it is increasingly critical to deploy modern process control systems that can reduce operational and capital costs, and any other negative environmental impact by automating the entire production process.
By country, the Europe advanced process control market can be segmented into the France, Germany, United Kingdom, Spain, Italy, and others.
Covid-19 pandemic has impacted various end-user industries. Asset owners have moved their focus from asset-intensive new buildings, big capital, and plant upgrades to satisfying sustainability objectives through optimization and operational safety projects as a result of the Covid-19 pandemic, energy demand destruction, and poor consumer spending. Process variability is reduced, processes are optimized for restrictions, costly product giveaways are eliminated, and autonomous operations are enabled with APC systems. This is pushing up demand for improved process control in Europe, which is increasingly becoming a market requirement.
Europe Advanced Process Control Market Scope:
|Market size value in 2020||US$240.237 million|
|Market size value in 2027||US$492.897 million|
|Growth Rate||CAGR of 10.81% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type, Application, And Country|
|Regions covered||United Kingdom, Germany, France, Italy, Others|
|Companies covered||ABB Group, Emerson Electric Co., General Electric (GE) Co., Honeywell International, Inc., Schneider Electric SE, Siemens AG, ControlSoft Inc., Rudolph Technologies, Inc., Panasonic Corporation, Yokogawa Electric Corporation|
|Customization scope||Free report customization with purchase|
Key Market Segments
- By Type
- Advanced Regulatory Control
- Multivariable Model Predictive Control
- Inferential Control
- Sequential Control
- Compressor Control
- By Application
- Oil and Gas
- Food and Beverage
- Energy and Power
- By Country
- United Kingdom
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. EUROPE ADVANCED PROCESS CONTROL MARKET, BY TYPE
5.2. Advanced Regulatory Control
5.3. Multivariable Model Predictive Control
5.4. Inferential Control
5.5. Sequential Control
5.6. Compressor Control
6. EUROPE ADVANCED PROCESS CONTROL MARKET, BY APPLICATION
6.2. Oil and Gas
6.4. Food and Beverage
6.5. Energy and Power
7. EUROPE ADVANCED PROCESS CONTROL MARKET, BY COUNTRY
7.1. United Kingdom
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. ABB Group
9.2. Emerson Electric Co.
9.3. General Electric (GE) Co.
9.4. Honeywell International, Inc.
9.5. Schneider Electric SE
9.6. Siemens AG
9.7. ControlSoft Inc.
9.8. Rudolph Technologies, Inc.
9.9. Panasonic Corporation
9.10. Yokogawa Electric Corporation
Emerson Electric Co.
General Electric (GE) Co.
Honeywell International, Inc.
Schneider Electric SE
Rudolph Technologies, Inc.
Yokogawa Electric Corporation
|Report Name||Published Month||Get Sample PDF|
|Middle East and Africa Advanced Process Control Market: 2022 - 2027||Mar 2020|
|Asia Pacific Advanced Process Control Market Size: 2022-2027||May 2022|
|South America Advanced Process Control Market Size: 2022 - 2027||Mar 2020|
|North America Advanced Process Control Market Share: 2022-2027||Mar 2022|