Power Plant Control System Market is projected to reach USD 10.2 billion by 2026 from an estimated USD 7.2 billion in 2021, at a CAGR of 7.3% during the forecast period. The growing need for zero downtime power supply solutions for critical power applications is the major driver of the rotary or power plant control system market. The advantages of rotary UPS such as high efficiency, fewer space requirements, and low lifetime costs are expected to further drive the demand. Increasing data center investments are expected to be the single biggest contributing factor to the growth of power plant control system market during the forecast period.
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The DCS segment by solution is expected to be the largest market during the forecast period
The power plant control system market, by solution, is segmented into SCADA, DCS, programmable controllers, and others which includes product lifecycle management, plant asset management, and plant optimization solutions. DCS solutions are preferred in large, complex power plants such as coal-, gas-, and oil-fired power plants. The increased adoption of DCS solutions across fossil-fueled plants due to high reliability and ease of use is the major driver for the demand.
The renewable segment by plant type, of power plant control system is expected to be the largest contributor to the power plant control system market, by plant type, during the forecast period
The power plant control system market is segmented, by power plant type, coal, natural gas, oil, hydroelectric, nuclear, and renewable. The renewable segment is likely to account for the largest share of the market during 2021–2026. The global shift in power generation technology from fossil fuel to renewables in the key markets of Europe, North America, and Asia Pacific is expected to be the major driver for this segment during the forecast period.
Asia Pacific is expected to be the fastest-growing market during the forecast period
In this report, the power plant control system market has been analyzed with respect to six regions, namely, Asia Pacific, North America, Europe, Middle East, Africa, and South America. The market in Asia Pacific, led by China, is expected to grow at the highest CAGR during the forecast period. Continued investments in fossil fuel power plants, especially in China, India, and Southeast Asia, along with the increased renewable power plant investments in countries such as China, India, Japan, and South Korea, are expected to drive the demand for power plant control systems in the region.
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A few major players with a large global presence dominate the power plant control system market along with a large number of local players. The leading players in the power plant control system market include Siemens Energy (Germany), ABB (Switzerland), Emerson (US), Rockwell (US), and GE (US).
