Automation instruments can be divided into measuring instruments, control instruments, actuators and display instruments. Pressure and flow sensors and pressure transmitters are the most widely used in measuring instruments. According to CCID Consulting and Gongkong.com, the domestic market size in 2019 is respectively 68.3/99.4/4.02 billion yuan, most domestic companies are in the low-end market, and there is a huge space for domestic substitution. The control valve is the most widely used actuator. By integrating the valve body with the actuator and valve accessories, automatic control is realized, similar to a mechanical arm. According to Zhiyan Consulting data, my country’s control valve market will be nearly 40 billion yuan in 2021. In recent years, it has benefited from “chemical industrialization”, “refining and chemical integration” and dual carbon goals. The petrochemical and chemical industries have strong capital expenditures. The rapid development also brings incremental space. According to “Control Valve Information”, domestic control valve brand sales will account for 40.4% in 2021, an increase of nearly 2pct compared with 2020. Domestic substitution is accelerating. Among them, valve accessories are highly dependent on imported brands, which is the focus and difficulty of domestic substitution.

DCS system: process industry automation control layer, the 10 billion market continues to grow steadily, benefiting from the increase in the penetration rate of intelligent manufacturing, domestic substitution and the increase in industrial concentration.

DCS is an industrial automation control system based on computer control, display and communication technologies, which performs decentralized control of on-site devices and realizes centralized management, control and operation of the production process. According to Rui Industry, the scale of my country’s DCS industry will reach 11.12 billion yuan in 2021, and the compound growth rate is expected to reach 5%-6% in 2022-2027. According to Zhiyan Consulting, domestic brands represented by Supcon Technology and Hollysys have a market share of 55.72%, while foreign brands such as Emerson, Honeywell, and Siemens still account for nearly half of the market share. Looking forward to the future, the industry will continue to benefit from the policy-driven increase in the penetration rate of intelligent manufacturing, as well as policy drives such as “reducing oil, increasing chemical production and making special products”, and clustering chemical industrial parks. At the same time, leading companies will also fully benefit from domestic substitution, increased market concentration, and overseas market expansion.