According to Transparency Market Research (TMR),
the key energy management systems players have a very strong grip on
the global market. Siemens AG, Johnson Controls, Inc., and Schneider
Electric SE are the top three players in this market and had
collectively accounted for 50% of the revenue share in 2014. Emerson
Process Management and Honeywell International operate on a global
scale and hold wide energy management systems portfolios. Their
products and services are a built to suit a wide array of end users.
Transparency Market Research suggests that players
in the energy management systems can focus towards emerging economies
such as China and India, where the rapid industrialization rates are
generating a rich environment for the implementation of modern EMS
services.
This 108 page report gives
readers a comprehensive overview of the Energy Management
Systems market.Browse through 32 data tables and
51 figures to unlock the hidden opportunities in this
market@
Energy management services are expected to receive
a major boost over the coming years in the form of heavy investments
by end users. Two core factors responsible for the high end user
interest in energy management systems are the strengthening
government regulatory efforts to impose EMS and reduce carbon
footprints, and the ability of EMS to significantly reduce operations
costs.
Another globally concurrent effort that will
benefit energy management systems companies is the increasing focus
on renewable energy sources. This factor is especially visible in
Japan, China, Germany, and the U.S., where renewables are taking the
foreground in terms of research, development and implementation.
Energy Management Systems Highly Sought for
Operations Cost Reduction
“The cost of raw materials and cost of energy
are the two largest expenses in a manufacturing plant, and are also
the two most variable ones,” states a TMR analyst. For the majority
of manufacturing industries, energy consumption is a leading expense
that has to be managed. As energy supply dwindles, it is no longer
feasible to simply hold a manufacturing process in full speed. There
has to be a schedule for the processes and the use of modern
equipment and systems that allow a company to cut back on the money
spent on energy.
“Take the iron and steel industry as an
example,” continues the analyst, “From the total cost of the
produced steel, nearly 20% to 25% arises from its consumption of
energy. This can be reduced using EMS; in fact, the steel and iron
manufacturers can achieve an energy consumption rate of up to 30%. In
the long run, that can count for massive savings in power consumption
and consequently, the cost of manufacturing.
A similar effect can be achieved on commercial
structures. The annual energy consumption within the U.S. shows a 40%
share taken up by commercial buildings. Currently, this amounts to
about US$40 bn annually spent on energy alone. The energy management
systems players need to provide optimal solutions to help reduce this
energy consumption in order to gain a larger market share and demand.
Industrial Demand for EMS Will Continue to be
the Largest
About 71% of the global energy management systems
market was taken up by the industrial sector in 2014, based on
applications. In that year, the global market was valued around
US$9.8 bn. With a CAGR of 13.4% from 2015 to 2023, this market is
expected to reach about US$36 bn by the end of 2024.
Get accurate market forecast and analysis on
the Energy Management Systems market. Request a sample to stay
abreast on the key trends impacting this market@
Although the industrial segment is expected to
lose some of its share to the segments of home and buildings, it
still leads the energy management systems market by a wide margin.
Buildings and industries are expected to reach shares of about 25%
and 65% respectively by 2024.
The above data is collated from a research report
released by TMR, titled “Energy Management Systems (EMS) Market -
Global Industry Analysis, Size, Share, Growth Trends, and Forecast
2016 - 2024.”
Key Segments of the Global Energy Management
Systems (EMS) Market
Energy Management Systems Market: By Component
- Hardware Component
- Software
- Communications Networks
- Control System
- Sensors and Equipment
Energy Management Systems Market: By
Application
- Industrial
- Building
- Home
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