Global Turbine Control System Market, By Type [Gas Turbine; Steam Turbine; Others], By Function [Speed Control; Load Control; Temperature Control; Pressure Control; Others], By Component [Sensors; HMI; Controllers; Software; Others] By Region, Competition, Forecast & Opportunities, 2026
New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Turbine Control System Market, By Type , By Function, By Component, By Region, Competition, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p05781836/?utm_source=GNW
Global turbine control system market stood at USD13.95 billion in 2020 and is forecast to grow at a CAGR of over 4% to reach USD 19.06 billion by 2026. Anticipated growth in the market can be attributed to rising conventional power generation and increasing operational productivity of turbines, which in turn, is improving the efficiency of power plants. Moreover, increasing wind power generation is expected to create better opportunities for turbine control system market, globally. Gas being a cleaner fuel than coal for power generation is expected to play an important role in decarbonizing global power sector, thereby resulting in ample opportunities for global turbine control system market in coming years.
Global turbine control system market can be segmented based on type, function and component.In terms of type, the market for turbine control system has been categorized into gas turbine, steam turbine and others.
Of these segments, steam turbine control system category led the market in 2020 with share of 61.17%, primarily on account of increasing use of diesel-based, oil-based and coal-based power generation in developing nations.
Based on function, global turbine control system market has been segmented into speed control, load control, temperature control, pressure control and others. Among these functions, speed control category accounted for the largest share in global turbine control system market in 2020 and is likely to maintain its dominance during forecast period, backed by growing adoption of wind generation across the world.
Asia-Pacific led global turbine control system market in 2020 and is anticipated to account for majority of global market during forecast period as well.The growth of Asia-Pacific turbine control system market can be majorly attributed to policy level support from the governments of emerging nations to promulgate gas-based power generation.
Also, Asia-Pacific is expected to become the largest energy-consuming region in the world. Additionally, growing industrialization in the region is likely to create a number of gas-based power generation facilities, which is further anticipated to spur demand for turbine control systems during forecast period.
Few of the major companies operating in global turbine control system market are ABB Ltd., Siemens AG, General Electric Company, The Emerson Electric Co., Woodward, Inc., Rolls-Royce PLC, Rockwell Automation, Inc., Honeywell International Inc., Heinzmann GmbH & Co. KG and American Superconductor Corporation. Companies operating in the market are adoption control and automation technologies in order to enhance efficiency and productivity. As a result, the up-gradation of existing facilities is likely to drive the demand for the turbine control system market in the upcoming period.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
• To analyze and forecast global turbine control system market size.
• To forecast global turbine control system market based on type, function, component and regional distribution.
• To identify drivers and challenges for global turbine control system market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global turbine control system market.
• To conduct pricing analysis for global turbine control system market.
• To identify and analyze the profile of leading players operating in global turbine control system market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of turbine control system manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major manufacturers across the globe.
The analyst calculated global turbine control system market size using a top down approach, where data for various applications across various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Companies related to electric power generation
• Energy & environment associations
• Energy efficiency consultants
• Government and research organizations
• State and national regulatory authorities
• Turbine control system manufacturers
• Manufacturers’ associations
• Public and private operators of natural gas power plants
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to turbine control system market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, suppliers and end users. The study would also help them in identifying which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.
In this report, global turbine control system market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Type
o Gas Turbine
o Steam Turbine
- Small Hydro
• Market, by Function
o Speed Control
o Load Control
o Temperature Control
o Pressure Control
- Frequency Influence
- Turbine Stress Influence
• Market, by Component
- Communication Devices
- Protection Devices
• Market, by Region:
- South Korea
- Rest of Asia-Pacific
- United Kingdom
- Rest of Europe
o North America
- United States
- Rest of North America
o South America
- Rest of South America
o Middle East & Africa
- Saudi Arabia
- Rest of MEA
Company Profiles: Detailed analysis of the major companies present in global turbine control system market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p05781836/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001