Rising investments in the oil and gas, power generation, chemicals and petrochemicals, and water and wastewater industries in the Middle East have expanded the regional market for distributed control systems (DCS). The market will gain considerably from the revival of projects that were deferred during the economic downturn and the greater need for power and water due to rapid industrialisation in the region.
New analysis from Frost & Sullivan (industrialautomation.frost.com), Analysis of the Middle East Distributed Control System Market, finds that the market earned revenues in excess of USD 700.0 million in 2011 and expects this to cross USD 1.0 billion by 2016.
"As the population of the Middle East increases, the demand for power and water will rise concurrently," said Frost & Sullivan Industry Analyst for Industrial Automation & Process Control Practice. "Consequently, the power generation and desalination, and water and wastewater industries are likely to witness significant demand, stoking the growth of the DCS market."
Further, the consistently high average price of oil due to increasing global demand and the need to sustain existing oil reserves in the region will compel oil exploration companies to consider more efficient exploration processes. DCS will play a major role in optimising the entire process and enhancing the overall operation.
The Middle East DCS market will also benefit from industrial plants' need to replace outdated and inefficient control systems. New systems facilitate better asset management, tighten production cost control, increase process efficiency and productivity, as well as lower labor and raw material costs. Many plant owners are expected to invest in capital/technology such as DCS that allows them to reduce production costs and increase profit margins.
"However, the market also has to contend with project delays caused by the political instability in the region," noted Frost & Sullivan Analyst. "Automation vendors have to focus on the Gulf Cooperation Council (GCC) countries namely Saudi Arabia, the UAE, Kuwait, and Qatar, which are politically stable and offer strong potential for growth."
If you are interested in more information on this research, please send an email to Tanu Chopra/ Deepshri Iyer, Corporate Communications, at tanu.chopra[.]frost.com /deepshrii[.]frost.com, with your full name, company name, title, telephone number, company email address, company Website, city, state and country.
Analysis of the Middle East Distributed Control System Market is part of the Industrial Automation & Process Control Growth Partnership Services program, which also includes research in the following markets: Analysis of the GCC and Egypt Process Transmitters Market and Analysis of GCC and Egypt Industrial Pumps Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Analysis of the Middle East Distributed Control System Market / P665-10
Contact
Nimisha Iyer, Corporate Communications - Middle East, North Africa and South Asia
P: +91.98200 50519 / F: +91.22.2832 4713 - E: niyer[.]frost.com.
Source: http://www.newswiretoday.com/news/122446/
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