Lower oil price is changing the outlook for distributed control systems
July 2015
News
IHS says that the growth of the world DCS market was flat in 2014, after a recovery in 2013. Growth in the market for DCS in the refining and petrochemical, oil and gas, and pharmaceutical sectors were offset by weakness in the power, cement and glass, and pulp and paper sectors.
The market in the oil and gas industry is expected to be affected by the lower oil price; since oil companies have been cutting back investment. However, a lower oil price will help many other downstream industries; together with general economic recovery, a better outlook can be expected in many sectors.
Services will account for the most DCS revenues throughout the forecast period, 2015-2019, because of limited new factory construction, and because a larger DCS installed base is ageing, in both mature and emerging markets.
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