Market Research Report
Global Market Study on Industrial Combustion Control Components and Systems: Combustion Control Components Projected to Witness Relatively Significant Growth over 2018 - 2026
|Published by||Persistence Market Research||Product code||647375|
|Published||Content info||331 Pages
Delivery time: 2-3 business days
|Global Market Study on Industrial Combustion Control Components and Systems: Combustion Control Components Projected to Witness Relatively Significant Growth over 2018 - 2026|
|Published: April 25, 2018||Content info: 331 Pages||
Overview of global industrial combustion control components and systems market with reference to global industrial automation market
Players in the industrial automation and equipment industry continue to face an environment that remains hyper-competitive. Evolution in end-user demand is influencing players in the industrial automation and equipment landscape to optimize their manufacturing process. Sluggishness in the oil & gas industry, muted growth in automotive sales, and stagnancy in the agriculture sector have posed challenges to players in the recent past.
With the increase in oil rigs and natural gas projects being quoted, various companies are making reinvestments, to either cater requirement of preventative maintenance or for generating a better ROI. Investing in infrastructure development remains a top priority for the industrial automation and equipment companies, with improvements in energy- and operational-efficiency gaining center stage.
The development of streamlined 2-3 layer automation systems helped the industry in lowering maintenance costs and enhancing performance. The trend towards simplification of 5 layer system model, which the automation industry has been focusing on over the years, is witnessing acceleration. Innovation in development of controllers, sensors and intelligent devices has meant that today's computing processes are more effective.
Continuous advances are witnessed in the progressive integration of information technology (IT) and operational technology (OT), along with the evolution of business systems for handling real-time transaction processing. Building blocks are being offered by innovators, designed specifically for accomplishing the aim of 'connected enterprise'. New intelligent nodes, operating at the network edge for improving efficiency and performance of manufacturing processes, are offered by rapid propagation of technologies & concepts associated with Internet of Things (IoT).
A major challenge encountered by the global industrial automation and equipment industry is absence of multi-vendor application portability. Innovation is stifled without open ecosystems offering portable applications to vendor platforms. On account of this, non-traditional suppliers have embarked on launching next-generation products that are embedded with IoT software.
Persistence Market Research utilizes robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on 3 dimensional model. We conduct about 45-60 min duration detailed interviews with product manufacturers; apart from this we also collect market feedback from industry experts. To validate this data, we interact with senior panel members having more than 10 years of experience in relevant field. The panel members help in validating the findings and fill the gaps if any. In addition, we leverage on our existing pool of information, paid database and other valid information sources available in public domain. Usually industry interactions extend to more than 50+ interviews from market participants across the value chain.
Persistence Market Research collects data from secondary sources including company annual reports, association publications, industry presentations, white papers, and company press releases apart from these we leverage over paid database subscriptions and industry magazines to collect market information and developments in exhaustive manner. After being done with desk research, detailed questionnaire and discussion guide is formulated to initiate primary research with key industry personnel; the discussion aims at collecting key insights, growth perspectives, prevalent market trends and quantitative insights including market size and competition developments. Both of these research approaches help us in arriving at base year numbers and market hypothesis.
In this phase, Persistence Market Research validates the data using macro and micro economic factors. For instance, growth in electricity consumption, industry value added, other industry factors, economic performance, growth of top players and sector performance is closely studied to arrive at precise estimates and refine anomalies if any.
Data analysis and projections were made based on proprietary research frameworks and statistical analysis, which was further validated from industry participants. These frameworks include Y-o-Y growth projections, macro-economic factor performance, market attractiveness analysis, key financial ratios, and others.
For public companies we capture the data from company website, annual reports, investor presentations, paid databases. While for privately held companies, we try to gather information from the paid databases (like Factiva) and based on the information we gather from databases we estimate revenue for the companies. In addition, the team tries to establish primary contact with the companies in order to validate the assumptions or to gather quality inputs.