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Control Systems Market Recovering After The 2009 Financial Crash
The global control systems market produced moderate growth in 2011, which showed a slight acceleration from the overall rate of growth in 2010. This is evidence that the market is recovering after the financial crash in 2009 and the delayed recovery thereafter. This market is heavily reliant on manufacturing industries, and the growth and stability of these industries can directly determine the amount of new equipment that large manufacturing companies order. Success within the manufacturing industry leads to greater investment in production line efficiency, leading to greater sales of automation product control systems. Due to this strong link, control system markets are subject to downturns and to avoid these affecting margins, many of the leading players are heavily diversified, with the larger corporations being international conglomerates.
The global control systems market produced 5% growth in 2011 to reach an overall value of $25,017 million, representing a compound annual growth rate (CAGR) of 2.9% between 2007 and 2011. Developing markets account for a majority of this growth.
The European market controls the largest share of the global control systems market. Within this Germany is the largest market, followed by the UK and France. Growth within these developed states has been promising; however some of the largest growth in the European region has come from developing states in Eastern Europe, some of which have experienced double digit growth.
The Asia-Pacific region is dominated by the Japanese market, but due to economic difficulties in Japan, some of the strongest growth has come from the Chinese and South Korean markets.
The Americas has had a relatively low level of growth in recent years, again the key markets for growth in this region are developing countries such as Brazil, which has posted significant growth in recent years due to its ever evolving manufacturing industry.
The control systems market has seen fluctuating revenues in recent years, but appears to be stabilizing. A continuing trend in this market is that the most successful players are large diversified corporations, however it has been recently noticed that whereas previously the market has relied on large corporations as clients, there is now a lower cost range of systems that appeal to SME’s. This is likely to help create market stability in the future as a wider range of clients and consumers should help to stabilize growth.
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