Dublin, March 25, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The 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 the Global Turbine Control System Market in coming years.
The 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, 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 2020 and is likely to maintain its dominance during forecast period, backed by growing adoption of wind generation across the world.
Asia-Pacific led the 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 the 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.
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
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
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. Brand Awareness
4.3. Satisfaction Level
4.4. Current Need Gaps
4.5. Willingness to Switch From Existing Brand
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]
5.2.2. By Function [Speed Control; Load Control; Temperature Control; Pressure Control; Others ]
5.2.3. By Component [Sensors; HMI; Controllers; Software; Others]
5.2.4. By Region (Asia-Pacific; Europe; North America; South America; Middle-East & Africa)
5.2.5. By Company (2020)
5.3. Product Market Map
6. Asia-Pacific Turbine Control System Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Function
6.2.3. By Component
6.2.4. By Country
6.3. Asia-Pacific: Country Analysis
6.3.1. China Turbine Control System Market Outlook
6.3.2. India Turbine Control System Market Outlook
6.3.3. Japan Turbine Control System Market Outlook
6.3.4. South Korea Turbine Control System Market Outlook
6.3.5. Australia Turbine Control System Market Outlook
6.3.6. Singapore Turbine Control System Market Outlook
6.3.7. Malaysia Turbine Control System Market Outlook
7. North America Turbine Control System Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Function
7.2.3. By Component
7.2.4. By Country
7.3. North America: Country Analysis
7.3.1. United States Turbine Control System Market Outlook
7.3.2. Mexico Turbine Control System Market Outlook
7.3.3. Canada Turbine Control System Market Outlook
8. Europe Turbine Control System Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Function
8.2.3. By Component
8.2.4. By Country
8.3. Europe: Country Analysis
8.3.1. Germany Turbine Control System Market Outlook
8.3.2. France Turbine Control System Market Outlook
8.3.3. United Kingdom Turbine Control System Market Outlook
8.3.4. Italy Turbine Control System Market Outlook
8.3.5. Spain Turbine Control System Market Outlook
9. South America Turbine Control System Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Function
9.2.3. By Component
9.2.4. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Turbine Control System Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By Component
9.3.2. Argentina Turbine Control System Market Outlook
9.3.3. Colombia Turbine Control System Market Outlook
10. Middle East & Africa Turbine Control System Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Function
10.2.3. By Component
10.2.4. By Country
10.3. MEA: Country Analysis
10.3.1. Saudi Arabia Turbine Control System Market Outlook
10.3.2. UAE Turbine Control System Market Outlook
10.3.3. Egypt Turbine Control System Market Outlook
10.3.4. Iran Turbine Control System Market Outlook
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. Impact of COVID-19 on Global Turbine Control System Market
14. Competitive Landscape
14.1.1 ABB Ltd.
14.1.2 Siemens AG
14.1.3 General Electric Company
14.1.4 The Emerson Electric Co.
14.1.5 Woodward, Inc.
14.1.6 Rolls-Royce PLC
14.1.7 Rockwell Automation, Inc.
14.1.8 Honeywell International Inc.
14.1.9 Heinzmann GmbH & Co. KG
14.1.10 American Superconductor Corporation
15. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/nngt5a