LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global universal process controllers market is expected to grow at a CAGR of almost 6% during the forecast period.
This research report titled ‘Global Universal Process Controllers Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The market for universal process controllers has a direct impact from the developments based on the deployment of automation and need for precise control and monitoring operations in end-user industries. The global universal process controllers market is expected to have a steady growth rate in terms of market size, and this growth is likely to come from the rising markets in Asia, the Middle East, and Latin America.
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Technavio’s analysts categorize the global universal process controllers market into five major segments by end users. They are:
- Oil and gas industry
- Food and beverages industry
- Chemical and petrochemical industry
- Power industry
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The top three segments based on end-users for the global universal process controllers market are discussed below:
Global universal process controllers market in the oil and gas industry
Universal process controllers are widely used in the oil and gas industry because of their applications in various process machines. It forms an integral part of process industries like the oil and gas industry. The deployment of production machines and instruments, exploration of new oil and gas fields in African countries such as Nigeria, and increased investments in production in the Americas and the Middle East are expected to drive the global universal process controllers market.
According to Raghav Bharadwaj Shivaswamy, a lead automation research analyst from Technavio, “The requirement for UPCs in the oil and gas industry will increase with investments in the offshore and shale gas production activities. Though in the recent years, the oil and gas industry has been undergoing a decline in greenfield projects.”
Global universal process controllers market in the food and beverages industry
The food and beverages industry is seeing an increased adoption for UPCs in related companies. The food and beverages industry is growing at a faster rate in the developing countries such as China and Brazil. End-users influence the growth of the global universal process controllers market, wherein the food and beverages industry plays a major role.
“The production process in this industry involves fluids, gasses, and chemical compounds that need high industry standards of monitoring and controlling products. The regulation standards are supporting the adoption of such process controller products,” says Raghav.
Global universal process controllers market in the power industry
The power industry is facing a transmission from coal-fed to solar and wind energy due to the growing climate changes, as coal-fired power stations are being regulated heavily in most countries, especially in the European market. There is an increase in consumption of electricity.
Developing countries are investing in advanced technologies and equipment to scale up production capacities. The deployment of UPCs empowers end-users in the power generation industry with higher efficiency, better control, and faster monitoring of processes.
The top vendors highlighted by Technavio’s research analysts in this report are:
- OMEGA Engineering
- Sisel Engineering
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