Below are some of the key findings from the turbine monitoring and controls market research report
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Global turbine monitoring and controls industry overview
The development of universal turbine monitoring and control system facilitating cross-vendor compatibility is the primary factor driving turbine monitoring and controls market growth. Some vendors provide expert solutions to upgrade the existing fleet, while others offer an array of control algorithms and modules. These advanced systems provide interchangeable hardware and portable software, greater standardization, and upgradable technology with global support from established companies. This facilitates cross-vendor compatibility, and is propelling the turbine monitoring and controls market growth.
The development of CMS with advanced prognostics is a major turbine monitoring and controls market trend gaining traction. CMS with advanced prognostics is gaining popularity to fulfill the increasing demand for low cost and high-performance systems. CMS collects data from sensors on turbines and transmits them wirelessly, or by Ethernet to a single server for data processing. CMS eliminates the need for expensive sensors and electronics, by putting all the complex mathematical algorithms into cloud computing. The installation of CMS with advanced prognostics offers benefits of cost savings on sensor equipment, extensive data collection reach, and scientific data analysis approach. The turbine monitoring and controls market forecast report predicts that fueled by these factors, the market will grow at a CAGR of almost 5% during the forecast period.
Top turbine monitoring and controls companies covered in this market research report
The turbine monitoring and controls market is moderately fragmented. The market is expected to move towards concentration during the forecast period. To stay ahead of the competition, several market vendors are developing technologies to provide innovative products to customers. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by the companies, this turbine monitoring and controls industry analysis report will aid clients to identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
- ABB
- Emerson Electric
- Honeywell
- Robert Bosch
- Rockwell Automation
- Siemens
Turbine monitoring and controls market segmentation based on geographic regions
- Americas
- APAC
- EMEA
Global turbine monitoring and controls market analysis reveals that APAC will continue to dominate the turbine monitoring and controls market share. APAC will also account for the highest growth of this market throughout the forecast period.
Turbine monitoring and controls market segmentation based on application
- Gas turbine
- Wind turbine
- Steam turbine
- Hydro turbine
The gas turbine applications will lead the turbine monitoring and controls market share during the forecast period. Wind turbines will record the highest growth in the market driven by heavy surge in global wind turbine installations. Additionally, the report also provides an accurate prediction of the contribution of the various application segments to the growth of the turbine monitoring and controls market size.
Key highlights of the global turbine monitoring and controls market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the turbine monitoring and controls market during the next five years
- Precise estimation of the global turbine monitoring and controls market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the turbine monitoring and controls industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of turbine monitoring and controls companies
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