Global Remote Terminal Unit Market Expected to Register Nominal Growth by 2020 Says a New Research Report at MarketOptimizer.org
Dallas, TX (PRWEB) January 19, 2014 -- The global market for Remote Terminal Units (RTUs) is expected to register nominal growth in the next few years until 2020. The global market for RTUs is nearing saturation, as the deployment of RTUs has been going on since the 1970s. This leaves limited scope for growth in the North American and European power markets. The market in these countries is expected to be driven by Supervisory Control and Data Acquisition (SCADA) upgrades that are expected to occur during the period from 2013 to 2020.
On the other hand, the Southeast Asian countries are expected to play a key role in the global RTU market in coming years, as they undertake a major drive to remove inefficiencies in their power infrastructure and expand it in order to increase capacity. The value of the global market for RTUs amounted to an estimated $780m in 2012 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.2% between 2013 and 2020.
Complete report is available at http://www.marketoptimizer.org/remote-terminal-units-in-smart-grid-2013-update-market-analysis-and-forecast-to-2020.html.
Developing countries, in regions such as Southeast Asia, South America, and Africa, represent substantial scope for RTU installations. These countries have a considerable power supply-demand gap. This inadequacy adversely affects the growth prospects of these nations, which has led their respective governments to come up with specific policy measures aimed at upgrading and expanding their national power grids. Some countries are expected to register a high growth rate for RTUs, such as Indonesia with 10.4%. As a result, the developing countries in question are expected to contribute to the growth of the global RTU market.
Local Players Dominate Some Asian Markets. In Asian countries such as Malaysia and Indonesia, local manufacturers have dominance over global players in the national markets. In Malaysia, local players such as TopRank, Foxboro, Prestigious Discovery and Microsol account for the majority of the market. Combined, these companies possess a market share in excess of 90%. The remaining market share is accounted for by ABB Ltd. In Indonesia, companies such as TopRank, Iskra, and Arlisco account for a combined market share of more than 50%.
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Priyank Tiwari, Marketoptimizer.org, http://www.marketoptimizer.org/, +1 (888) 391-5441, [email protected]
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