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 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 global power sector, thereby resulting in ample opportunities for global turbine control system market in 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 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, 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 2018 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 2018 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 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.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
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.
Some of the leading players in 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.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of turbine control system manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the globe.
TechSci Research 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. TechSci Research 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 TechSci Research.
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
- Market, by Function
o Speed Control
o Load Control
o Temperature Control
o Pressure Control
Turbine Stress Influence
- Market, by Component
- Market, by Region:
Rest of Asia-Pacific
Rest of Europe
o North America
Rest of North America
o South America
Rest of South America
o Middle East & Africa
Rest of MEA
Company Profiles: Detailed analysis of the major companies present in global turbine control system market.
With the given market data, TechSci Research 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.