Global Industrial Process Recorders Market 2017-2021

The infographic below contains key findings from our analysis of the industrial process recorders market   

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Overview of the global industrial process recorders market

The global industrial process recorders market analysis predicts the market to grow steadily during the next four years and post a CAGR of about 3% by 2021. This market research identifies the increasing need for business optimization as one of the primary industrial process recorders market drivers. With the increasing costs for maintenance, shortage of natural resources, low productivity, and the introduction of stringent regulatory policies, companies in various manufacturing sectors have realized the need for optimizing their business processes. Electrical machines used in industries are constantly prone to wear and tear, which makes it essential to record machine performance at regular intervals, creating the demand for industrial process recorders. Moreover, the need to follow guidelines implemented by various regulatory bodies also creates the demand for recorders, fuelling market growth in the coming years.

In terms of geographical regions, the Americas will be the major revenue contributor to the industrial process recorders market share throughout the predicted period. This mainly attributed to the growth of the automation industry in this region. Additionally, the growth of the oil and gas and power sectors in countries such as the US will also fuel the growth of the market in the Americas.

Competitive landscape and key vendors

Comprising of a large number of small and medium-sized players, this market appears to be highly fragmented. The international players increase their revenue shares using both the direct sales and distributor channels. Though the major market players offer high-quality products, the small-sized vendors offer products at comparative prices posing a stiff challenge to the established vendors. There is intense price competition in the market which limits vendor investment toward R&D. As a result, there is very less product differentiation which will intensify the level of competition in the paperless recorders market. According to analysts, the international vendors will start acquiring regional or domestic vendors and will grow inorganically during the coming years.

According to this industrial process recorders market report, the leading vendors in the market are -

• ABB
• Fuji Electric
• Honeywell International
• Siemens
• Yokogawa

The other prominent vendors in the market are Ambetronics Engineers, AMETEK, Analog Devices, Aum Controls and Equipment, PTC, Brainchild Electronic, CD Automation, Dickson, Future Design Controls, Linseis, and Rockwell Automation.

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Segmentation by product and analysis of the industrial process recorders market

• Paperless recorders
• Chart recorders

During 2016, the paperless recorders segment accounted for the major shares and dominated this market. Factors such as the increasing number of complex processes and reliable data analytics and the growth of the major end-user industries such as food and beverage, water treatment, and power, will contribute significantly to the growth of the paperless recorders market in the coming years.

Segmentation by end-user and analysis of the industrial process recorders market

• Power
• Water and wastewater treatment
• Food and beverages

This market study estimates that the power industry will be the major end-user segment of the industrial process recorders market throughout the forecast period. This is mainly due to the constant need to record various parameters including power consumption, quality, energy use pattern, performance optimization, peak energy demand, and voltage and current levels.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global industrial process recorders market?
• What are the key market trends impacting the growth of the global industrial process recorders market?
• What are the challenges to market growth?
• Who are the key vendors in the global industrial process recorders market?
• What are the market opportunities and threats faced by the vendors in the global industrial process recorders market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global industrial process recorders market?

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