LONDON--(BUSINESS WIRE)--The global automatic generation control (AGC) market is poised to grow by USD 207.72 million during 2020-2024, progressing at a CAGR of over 4% during the forecast period. Request free sample pages
Read the 120-page report with TOC on "Automatic Generation Control Market Analysis Report by Application (non-renewable energy power plants and renewable energy power plants), and Geography (APAC, Europe, MEA, North America and South America), and the Segment Forecasts, 2020-2024".
The market is driven by the growing number of nuclear power plants. In addition, the emergence of smart grids is anticipated to boost the growth of the automatic generation control market.
Nuclear power plants use nuclear fission to generate electricity. These plants also operate based on the Rankine cycle, wherein the heat generated by the reactors converts water into steam, spinning a generator and a turbine. As the generation of steam does not involve combustion, this process does not release greenhouse gases (CO2 and methane) into the environment. Hence, various countries intend to invest in nuclear power plants to meet their energy requirements. For instance, in August 2019, the UAE started testing the third reactor of the Barakah Nuclear Energy Plant in Al Dhafra, UAE. In nuclear power plants, the adjustment of the output of electric power according to the variation of demand is made using automatic generation control. It stabilizes the fluctuation of grid frequency due to the intermittent nature of these power plants. Hence, with the growing number of nuclear power plants, there will be a proportionate increase in the demand for AGCs during the forecast period.
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Major Five Automatic Generation Control Companies:
ABB Ltd. has business operations under four segments, namely electrification products, industrial automation, motion, and robotics & discrete automation. The company’s key offerings include SPIDER Generation Management System, which provides a full set of advanced power system functions. It optimizes total generation operations and assists in meeting contractual sales in the marketplace.
ANDRITZ AG operates its business through various segments, such as pulp and paper, metals, hydro, and separation. The company’s key offerings include HIPASE-E, which is an automatic voltage regulator with all limiters, additional regulators and a gate control for all synchronous single-and three-phase generators used in a wide frequency range.
DEIF AS has business operations under three segments, such as marine & offshore, land power, and wind power. The company offers automatic genset controller designed for large-scale IPP plants. It can control systems of up to 16 grids and 992 generator breakers.
Enercon Engineering Inc.
Enercon Engineering Inc. operates its business through various segments, such as integrated energy solutions, integrated defense solutions, engineered solutions, and Enercon Asia. The company offers a generation management system, which can be used to ensure optimal coordination of turbines within a wind farm with varying operating loads.
General Electric Co.
General Electric Co. has business operations under various segments, such as power, renewable energy, oil and gas, aviation, healthcare, transportation, and lighting. The company offers EX2100e excitation solutions, which is a software enabled generator control system applicable for steam, gas and hydro generators.
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Automatic Generation Control Application Outlook (Revenue, USD Million, 2020-2024)
- Non-renewable energy power plants
- Renewable energy power plants
Automatic Generation Control Regional Outlook (Revenue, USD Million, 2020-2024)
- North America
- South America
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