Product category:
Engineering Industry Reports and Surveys
News Release from: ARC Advisory Group
Edited by the Engineeringtalk Editorial
Team on 13 June 2003
Process automation market set for steady
growth
The automation market for process industries in the Europe, Middle East and Africa region totalled over $17 billion in 2002, according to a new study by the ARC Advisory Group.
The automation market for process industries in the Europe, Middle East and Africa (EMA) region totalled over $17 billion in 2002, according to a new study by the ARC Advisory Group Expanding at a cumulative annual growth rate (CAGR) of 5.3%, it will reach around $22 billion by 2007
This article was originally published on Engineeringtalk on 10 Nov 2004 at 8.00am (UK)
Related stories
Capex in power industry continues to grow
Worldwide capital and operational expenditures for plants in the electric power industry, which totalled more than $374 billion in 2003, will exceed $453 billion by the end of 2008.
Natural gas boosts Coriolis flowmeter market
The worldwide market for Coriolis flowmeters is expected to grow at a CAGR of 8.9% over the next five years, according to a new study.
While the global economic slowdown inhibited the growth of the process automation business in the EMA region during 2002, ARC forecasts that it will gradually recover and grow over the next five years.
"Process manufacturers are under competitive pressures to cut costs and enhance efficiencies.
They are responding by improving their supply chain, reducing energy costs, and achieving efficiencies in other areas.
Further reading
Visionaries to share experiences and practices
Top industry visionaries will share their experiences and best practices for optimising manufacturing operations at ARC Advisory Group's Ninth Annual Forum in Orlando Florida.
CAE technology conference attracts big guns
This year's Altair Technology Conference will take place on 2nd November at the Heritage Motor Centre, Gaydon.
Suppliers who are working closely with their customers to deliver automation solutions that address these unfulfilled needs will succeed in the long term", according to Senior Analyst Himanshu Shah, co-author of "Total automation business for process industries EMA outlook".
Shah continued, "The market expansion during the next two years will be below the projected growth rate, but will pick up during the subsequent period".
The research findings for the total process automation market for the EMA region are extensive.
Process manufacturers in the EMA region are adjusting their growth strategies to succeed in an increasingly more competitive environment.
They will upgrade and invest more in automation solutions to improve operational performance.
Manufacturers in the EMA region will be extensively leveraging automation technologies while integrating their plant level systems with enterprise systems.
They also are improving their customer centricity, productivity, and profitability.
A significant portion of future investments will take place in legacy system migrations.
Growth in the process automation market will be driven by software and services.
Central and Eastern European economies present the most growth opportunities.
Although the study highlights the various factors that spur or inhibit the growth of the process industry automation market in the EMA region, it also discusses the serious challenges facing suppliers as they grapple with the prospect of having to make up for the paucity of new projects.
"As the competition increases", Shah concluded, "process manufacturers in the EMA region will begin to invest more in solutions to gain sustainable competitive advantages which would provide the growth impetus".
• ARC Advisory Group: contact details and other news
• Email this article to a colleague
• Register for the free Engineeringtalk email newsletter
• Engineeringtalk Home Page
Search the Pro-Talk network of sites
