Industrial Remote Terminal Unit Market: Overview
· A Remote Terminal Unit (RTU) is an industrial control system that is microprocessor-based. The system is used in industrial control systems (ICS) to connect various hardware to distributed control systems (DCS) or supervisory control and data acquisition (SCADA).
· RTU monitors both the digital and analog field parameters and transmits data to a SCADA Master Station. It runs setup software to connect data input streams to data output streams, define communication protocols, and troubleshoot installation problems in the field.
· RTUs also manage connections to remote or local controls, and hence are also known as remote units of telecontrol or remote units of telemetry. RTUs are a part of systems that are used in several processes including petrochemical (oil) and refineries, nuclear power plants, agriculture, quality control, chemical plants, sewage treatment plants, food processing, automobile manufacturing, pharmaceutical manufacturing, and water treatment plants.
Key Drivers and Restraints of Industrial Remote Terminal Unit market
· Rapid increase in power consumption across the globe has augmented the development of new capacity additions to cater to the rising demand. Therefore, increase in power infrastructure is estimated to boost the usage of RTUs to increase efficiency of the power transmission & distribution network during the forecast period.
· Moreover, a rise in the number of electric vehicles and integration of renewable energy to the grid has created a huge load on existing power transmission & distribution assets. Consequently, conventional grids are being converted to smart grids. Globally, several smart grid projects are being installed to improve the power grid infrastructure. Furthermore, the development of smart grid projects is anticipated to increase the demand for SCADA systems, thus driving the intelligent remote terminal unit market.
· Higher cost of installation and maintenance services is projected to hamper the industrial remote terminal unit market during the forecast period.
Global Industrial Remote Terminal Unit Market: Segmentation
· The global industrial remote terminal unit market can be segmented based on product and end-user
· In terms of type, the global industrial remote terminal unit market can be divided into wired industrial RTU and wireless industrial RTU. The wireless industrial RTU segment is expected to expand at a high CAGR during the forecast period, due to several advantages over wired industrial RTUs.
· In terms of end-user, the global industrial remote terminal unit market can be classified into oil and gas industry, power generation industry, chemical and petrochemical industry, water and wastewater industry, and others. The power generation industry is estimated to expand at a rapid pace during the forecast period.
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Global Industrial Remote Terminal Unit Market: Regional Segmentation
· In terms of region, the global industrial remote terminal unit market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
· The market in Asia Pacific is anticipated to be highly lucrative during the forecast period. The market in China, India, and Japan is expected to expand significantly in the next few years.
· North America is expected to be a vital region of the global industrial remote terminal unit market in the near future. Expansion of the oil & gas industry in U.S. is estimated to create huge demand for RTUs. Furthermore, a rise in investments in the renewable power sector is projected to further boost the market in the region.
· Europe is a prominent market for industrial remote terminal unit globally. The need to control and monitor remote facilities is increasing in the region in order to keep workers safe, reduce losses, and avoid accidents.
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COVID-19 Impact on Global Industrial Remote Terminal Unit Market
· The COVID-19 pandemic has adversely affected the global industrial remote terminal unit industry. Major players have suffered closures owing to the lockdown measures implemented by various countries to curb the spread of the disease along with the disruption of the supply chain. Furthermore, various manufacturers shifted their production toward making masks and medical devices to support governments’ goals to fight these difficult times. However, ease in lockdown offered opportunities for the industrial remote terminal unit market. The market is expected to expand exponentially in the long term.
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Key Players in Market
The global industrial remote terminal unit market is moderately fragmented. Key players operating in the global industrial remote terminal unit market include:
· ABB Ltd.
· Advantech Co. Ltd.
· Arteche Group
· Emerson Electric Co.
· Honeywell International Inc.
· Rockwell Automation Inc.
· Schneider Electric SE
· Schweitzer Engineering Laboratories Inc.
· Siemens AG
· Yokogawa Electric Corp.
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