ARC reports: ABB tops process automation market share worldwide
Globalization is driving process manufacturers to improve plant performance in ways that would be inconceivable without modern process automation systems and business processes.
Increasing pressure from globalization is driving process manufacturers to improve plant performance in ways that would be inconceivable without modern process automation systems and business processes. While globalization expands opportunities for these manufacturers, it also intensifies the challenges they face. They need to respond with agility to emerging market opportunities, and improve financial performance while dealing with a shrinking base of well-trained personnel.
In a just-released study, Automation Systems for the Process Industries , Dedham, Mass.-based ARC Advisory Group ranked ABB in the leading worldwide market position in the broad process automation market. In this report, ARC includes DCS, PLC, SCADA systems, safety systems, AC drives, general motion controls, software, and machine safeguarding sold to the process industries.
The study forecasts the total worldwide market for automation systems in the process industries, which was $30 billion in 2006, will grow by a compounded annual growth rate of 9.6 percent by 2011, to more than $47 billion.
The new ARC study also takes a look at the leading indicators shaping the growth of the global automation marketplace, from capacity utilization to productivity and industrial production, and how these will affect the market in the coming years. Despite troubles in the U.S. and Canadian economies, the global outlook for automation and manufacturing remains bright. Higher energy prices continue to contribute to increased capital investments and large project backlogs for oil, gas, and refining companies. The pharmaceutical and biotech industries remain strong, and growth in Asia and other developing regions remain high. Asia remains the center of growth, but the Middle East, Eastern Europe, and Latin America continue to show strong growth as well.
In addition to being the leading global supplier, ABB also was the top supplier in key global verticals including oil & gas, pulp & paper, and the EMEA (Europe/Middle East/Africa) region.
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
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