Global Turbine Control System Market Overview

The turbine control system market is expected to grow from an estimated USD 15.13 Billion in 2018 to USD 19.00 Billion by 2023, registering a CAGR of 4.66% during the forecast period. This growth is primarily due to the increasing emphasis on growth of wind power generation, and increase in operational productivity of the turbines, in turn improving the efficiency of the power plant.

Leading Key Players

GE (US), Siemens (Germany), ABB (Switzerland), Emerson (US) and Rockwell (US).

Download PDF Brochure – https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=154007695

Speed control segment is expected to hold the largest share of the turbine control system market, by function during the forecast period

The speed control segment led the turbine control system market in 2017 and is projected to dominate the market during the forecast period. Speed control segment comprises of speed limiting and acceleration functions. Speed control is generally preferred in gas turbines, wind turbines, and steam turbines. Turbines require precise speed control to provide high-quality control accuracy and improved machinery protection. The rise in the adoption of wind generation across the world is one of the major drivers of speed control segment.

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
• Institutional investors
• Suppliers of parts and components of the turbines industry
• Distribution consultancies

Speak to Analyst – https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=154007695

Software segment is expected to be the fastest-growing segment of the turbine control system market

Software is expected to hold the largest market share during the forecast period from 2018 to 2023. Software segment includes IT applications such as advanced process control systems, digital synchronization, process optimization and process safety solutions, and remote view software program among others. It provides a common platform for devices to connect and operate. North America is expected to be the fastest growing region for software segment during the forecast period.

Steam turbine control system segment is expected to be the fastest-growing segment of the turbine control system market

The steam turbine control system is expected to be the fastest growing market from 2018 to 2023. Increasing usage of coal-based, diesel-based, and oil-based power generation in the developing countries is one of the key factors that drive the steam turbine control system market. Asia Pacific is expected to be the fastest growing region for the steam turbine control system segment during the forecast period.

Asia Pacific: The leading market for turbine control system

In this report, the turbine control system market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is expected to hold for the largest market share in the global turbine control system market in 2018. According to the International Energy Agency (IEA), China is expected to install 36% of all global hydroelectricity generation capacity, 40% of all worldwide wind energy, and 36% of all solar energy between 2015 and 2021. All the above factors are expected to raise the renewable energy sector in the region are likely to have a positive impact on the turbine control system market.

Request Sample Pages – https://www.marketsandmarkets.com/requestsampleNew.asp?id=154007695

Objectives of the Study

• To define and segment the market with respect to type, function, component, and region
• To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To forecast the growth of the market with respect to the major regions (Asia Pacific, Europe, North America, South America, and the Middle East and Africa)
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• To analyze competitive developments, such as new product launches, mergers & acquisitions, expansions and investments, and contracts & agreements, in the market

Browse Related Reports:

Power Plant Control System Market by Plant Type (Coal, Natural Gas, Hydroelectric, Nuclear, Oil, and Renewable), Solution (SCADA, DCS, Programmable Controllers), Component, Application, and Region – Global Forecast to 2026