Rising Demand from End-Use Industries to Drive Advanced Process Control Market
The advanced process control market was valued at US$1,699.590 million for the year 2020 and is expected to grow at a CAGR of 8.36%, reaching a market size of US$2,981.447 million by the year 2027. An advanced process control system is a combination of control systems and optimization technologies that are used by many sectors to increase production capacity, increase equipment dependability, cut down on power consumption, and speed up processes. The market for advanced process control includes APC software and associated services. The process industries make up the majority of the market for applications overall, where APC technologies are utilised to improve plant performance.
Advanced automation and process controls, together with rising user demand and the adoption of best practises to boost production and quality, have all contributed to the market for advanced process control (APC) seeing significant development. Another driver of market growth will be the increased emphasis on technical improvements together with the rising demand for energy-efficient production methods. Furthermore, the market will continue to grow due to growing industrialisation and increased awareness of the significance of regulatory compliance.
Increased focus on Energy Efficient Process in Industries to drive the market
Given the shifting operating circumstances, deteriorating equipment, shifting market conditions, and ineffective control strategies, the energy consumption of the majority of energy-intensive processes, such as those seen in refineries or petrochemical plants, is highly variable. As they lack the tools to gather and analyse real-time performance data, plants often use more energy than is necessary and are unable to increase efficiency. They can only access previous performance data instead, and they are unable to make corrections until it is too late. There are multiple ways for businesses to reduce their energy use, waste, and prices if they can precisely measure, analyze, estimate, and control their energy consumption. Energy-efficient process and equipment design is the first step in energy efficiency.
Using advanced process control and optimization, asset owners can better achieve their sustainability goals and objectives. For instance, as per a 2020 blog by Schneider Electric, Taiwan stakeholders running a top refinery have implemented a distinctive mix of advanced process control and artificial intelligence technology across crucial application domains like crude oil distillation in an effort to reduce costs. Schneider Electric and AVEVA provided an advanced process control system to the refinery to lower energy costs by reducing process variability and stabilising unit operations. Throughput improvements and annual energy savings of about $4.2 million US have been reported by plant operators. According to PI Process Control Solutions, a company that sells software and services for process control, depending on the process and ongoing operations, energy savings from the deployment of APC have been estimated to be in the range of 3% to 15%. Thus, rising consumer demand for energy-efficient production methods will become a key market growth driver.
Increased emphasis on Technical Improvements by industries to boost production and quality
The demand for high-quality goods across sectors, rising machine usage, and the integration of smart devices into machinery are all driving the growth of the APC market in the industrial automation sector. The goal of APC development and ongoing improvement is to raise product quality by enhancing the efficiency of production operations. For instance: in August 2022, one of India’s leading integrated pulp and paper producers, Andhra Paper Limited (APL), installed an ABB advanced process control (APC) solution at the lime kiln of their Rajahmundry mill. ABB has incorporated its OPT800 Lime APC solution into APL’s current ABB Ability System to assists in lowering the energy consumption of the highly dynamic lime kiln production process. OPT800 Lime relies on a model of the kiln processes at its core to precisely forecast the interactions between process variables and respond in real time to process modifications.
According to Honeywell, a company that also engages in selling software and services for process control, stated that Advanced Process Control programmes often result in a 1%–1% production improvement. APC debottlenecks the process, or a portion of it, assists in lowering the process’ variability and working closer to its limits, enabling higher production rates. It’s crucial to lessen quality variation in the finished product. The same source also states that the use of Advanced Process Control has led many businesses to report a standard deviation of product quality decrease of up to 50%.
North America to hold a major share due to Strong adaptation in the Oil and Gas and energy industries
APC systems are expected to grow in North America due to the construction of new power plants, the presence of significant semiconductor manufacturing enterprises, and the demand for industrial automation. A robust market for advanced process control solutions has developed in this region as a result of the early adoption of automation throughout end-use sectors in countries like the United States and Canada. The demand for APC systems for environmentally friendly manufacturing processes is increasing because of significant R&D expenditure and strict environmental restrictions. The US is going through an energy transition. The drilling and fracturing of shale formations, combined with technological advancements in hydraulics, has enhanced oil and gas output. The country also generates the most nuclear electricity and has the largest operating nuclear power capacity in the world. As of 2021, there were 93 commercial nuclear reactors in the US operating in 55 nuclear power plants spread throughout 28 states, according to the US Energy Information Administration. The North America Advanced Process Control market will expand over the course of the forecast period as a result of rising E&P operations in the region’s oil and gas sector.
High implementation Cost and time to restrain the growth of the Advanced Process control market
The market’s potential growth would be constrained by expensive R&D and initial investment costs. The high initial cost of the technology and the expense of implementation could limit the market’s expansion. Establishing an APC system often costs hundreds of thousands of dollars for many businesses. Small businesses’ reluctance to move from old methods to improved process controls due to a lack of financing would limit the market’s growth even more. It can take a long time and be expensive to implement an APC solution. Preconditioning and testing, model creation, controller integration, and commissioning are a few of the time-consuming procedures that are often involved in implementation. These factors are likely to act as obstacles for the market growth.
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