DUBLIN--(BUSINESS WIRE)--The "Global Turbine Control System Market By Type, By Function (Speed Control, Load Control, Temperature Control & Others), By Component (Software, Sensors & Others), By Region, Competition, Forecast & Opportunities, 2024" report has been added to ResearchAndMarkets.com's offering.
The global turbine control system market stood at $14.4 billion in 2018 and is forecast to grow at a CAGR of over 4.7% to reach $18.9 billion by 2024, owing 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 the turbine control system market, globally. The market opportunities for turbine control systems emanate from existing installed turbines and upcoming installations as well. Gas being a cleaner fuel than coal for power generation is expected to play an important role in decarbonizing the global power sector, thereby resulting in ample opportunities for the global turbine control system market in the coming years.
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 is anticipated to witness healthy growth during the forecast period, primarily on account of increasing use of diesel-based, oil-based and coal-based power generation in developing nations.
In terms of function, the 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 the global turbine control system market in 2018 and is likely to maintain its dominance during the forecast period, backed by growing adoption of wind generation across the world.
Asia-Pacific led the global turbine control system market in 2018 and is anticipated to account for the majority of the global market during the forecast period as well. The growth of the 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 the demand for turbine control systems during forecast period.
A few of the major companies operating in the global turbine control system market are Woodward Inc., Siemens AG, Rolls-Royce PLC, Rockwell Automation Inc., Honeywell International Inc., Heinzmann GmbH & Co. KG, General Electric Company, The Emerson Electric Co., American Superconductor Corporation, ABB Ltd., etc.
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objectives of the Study
- To analyze and forecast the global turbine control system market size.
- To forecast the global turbine control system market based on type, function, component and regional distribution.
- To identify drivers and challenges for the global turbine control system market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global turbine control system market.
- To conduct pricing analysis for the global turbine control system market.
- To identify and analyze the profile of leading players operating in the global turbine control system market.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Considered while Selecting a Supplier
4.2. Product Awareness and Applicability & Usage Analysis
4.3. Challenges/Issues Faced Post Purchase
4.4. Unmet Needs
5. Global Turbine Control System Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type [Gas Turbine; Steam Turbine; Others (Wind, Hydro, Small Hydro)]
5.2.2. By Function [Speed Control; Load Control; Temperature Control; Pressure Control; Others (Frequency Influence, Turbine Stress Influence)]
5.2.3. By Component [Sensors; HMI; Controllers; Software; Others (Communication Devices, Processors, and Protection Devices)]
5.2.4. By Region (Asia-Pacific; Europe; North America; South America; Middle-East & Africa)
5.2.5. By Company (2018)
5.3. Market Attractiveness Index (By Type; By Function; By Component; By Region)
6. Asia-Pacific Turbine Control System Market Outlook
6.1. Market Size & Forecast
6.2. Market Share & Forecast
6.3. Asia-Pacific: Country Analysis
7. North America Turbine Control System Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. North America: Country Analysis
8. Europe Turbine Control System Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Europe: Country Analysis
9. South America Turbine Control System Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. South America: Country Analysis
10. Middle East & Africa Turbine Control System Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. MEA: Country Analysis
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Basic Details
13.2.2. Financials (as reported)
13.2.3. Supply Chain Analysis
13.2.4. Key Market Focus & Geographical Presence
13.2.5. Planned Investments
13.2.6. Pricing of Target Products
13.2.7. Market positioning
13.3. Global Players Profiled (Leading Companies)
13.3.1 ABB Ltd.
13.3.2 Siemens AG
13.3.3 General Electric Company
13.3.4 The Emerson Electric Co.
13.3.5 Woodward Inc.
13.3.6 Rolls-Royce PLC
13.3.7 Rockwell Automation Inc.
13.3.8 Honeywell International Inc.
13.3.9 Heinzmann GmbH & Co. KG
13.3.10 American Superconductor Corporation
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/b4ld2o