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The turbine control system market size is estimated to grow by USD 3.75 billion at a CAGR of 4.05% between 2022 and 2027. The growth of the market depends on several factors such as universal turbine monitoring and control systems enabling cross-vendor compatibility, a rise in Wind Energy generation and use, and growing investments in Renewable Energy sources. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario. It also includes an in-depth analysis of drivers, trends, and challenges.
Market Forecast 2023-2027
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The sensors segment will account for a major share of the market's growth during the forecast period.?Sensors are critical components that are widely used. These sensors allow to monitoring of turbine temperature control, pressure, vibration, and flow to ensure both safety and optimal performance. Due to the growing need for efficient and reliable power generation, the sensor segment of the global market for turbine control systems is experiencing significant growth.
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The sensors segment was valued at USD 4,295.99 million in 2017 and continued to grow until 2021.?Pressure sensors also help to ensure optimal operating conditions. Advances in sensor technology, such as the integration of IoT and artificial intelligence (AI) capabilities, are making systems commonplace in power plants around the world. This will increase the acceptance of sensors as a component of the global market, driving the growth of the market during the forecast period.
Based on type, the market has been segmented into gas turbine control system, wind, steam, and hydro. The gas turbine components will account for the largest share of this segment.?The performance of gas turbines and associated accessories degrades during operation, which is usually unavoidable due to the temperature, speed, power output of the engine, and the operating range of the environment in which the engine is installed. Key factors driving the demand for gas turbines include an increasing need to replace coal-fired power plants with natural gas power plants, improving the efficiency of combined cycle gas turbines (CCGTs), low power generation and levelized cost of electricity (LCOE) from gas turbines, increased petrochemical activity, and expanding global oil and gas pipeline network Therefore, increased adoption is expected in the gas turbine application segment, which will drive the growth of the market during the forecast period.
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The market is seeing a lot of technological advancements as most of the major players are spending more on research and development. For example, Emerson supplies state-of-the-art control systems for all Siemens industrial turbines. As a former OEM manufacturer of these turbines, Emerson also offers professional solutions and upgrades for industrial turbines.
Similarly, PROEON has developed a series of control algorithms and software modules that run on Rockwell ControlLogix and Siemens S7 PLC controllers. These systems offer interchangeable hardware and portable software, a high degree of standardization, supplier independence, upgradeable technology with global support from established companies, and cross-supplier compatibility. This is anticipated to propel the growth of the global market during the forecast period.
While digital twin wind technology is still being researched and developed, Wind Twin aims to provide solutions that help to reduce the increasing operating and maintenance costs associated with wind turbine operation. It also aims to assist in optimizing wind power generation by providing wind turbines that are running more reliably. The technological advancements that Wind Twin promises will help to reduce turbine downtime as well as overall inspection and maintenance costs.
Additionally, its signal processing and condition monitoring algorithms will be applied to the turbines to collect the necessary operational data, which will enable turbine operators to obtain real-time data. on asset performance. In addition, the technology will allow wind turbine operators to virtualize maintenance upgrades prior to deployment, which will allow for greater control over wind turbine parameters, thereby optimizing performance and wind turbine performance. Due to these factors, the market is expected to grow significantly during the forecast period.
The turbine monitoring system module receives information from all system, subsystem, and component levels. In some cases, the monitoring systems installed on the turbines have set off false alarms and the reliability of these systems is questionable. This leads to unnecessary maintenance of the system. These false alarms can be costly and a critical subsystem alarm will shut down the turbine until the turbine components are inspected by a trained technician.
Moreover, false alarms affect the overall operation of the turbine. These failures usually require the complete replacement of the entire turbine component, which is very expensive. Mechanical failures therefore result in false alarms within the system, affecting the overall functioning of the system. Due to these factors, the market is expected to experience growth challenges during the forecast period.
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APAC is estimated to contribute 44% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The rapid proliferation of renewable energy projects and the rising demand for power across the world have been the main driving factors for market growth in the region. Japan, China, and India have become important players in the sector. Rapid penetration of renewable energy projects and increasing demand for electricity across the globe are the main drivers of market growth in the region. Japan, China, and India have become major players in the sector.
Furthermore, Japan's transition to greener energy sources in the post-Fukushima era has accelerated the adoption in the Japanese power generation industry. As APAC countries continue to explore sustainable alternative energy sources, the market is expected to continue growing during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Siemens AG: The company offers SPPA R3000 Turbine Controls.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ABB Ltd., American Superconductor Corp., Baker Hughes Co., Compressor Controls Corp., Emerson Electric Co., General Electric Co., Heinzmann GmbH and Co. KG, Honeywell International Inc., HPI Energy Services LLC, Innoway Future Solutions Pte Ltd., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Proeon Systems Ltd., Robert Bosch GmbH, Rockwell Automation Inc., Rolls Royce Holdings Plc, Vestas Wind Systems AS, Woodward Inc., and Solar Turbines Inc.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The market is driven by the need for operational productivity in various industries, including power generation. Technology developers are continuously innovating to address industry-specific challenges and enhance the efficiency of turbine operations. Organizations investing in these systems often experience improvements in their annual revenues due to enhanced control and monitoring capabilities. The market is driven by various factors including government regulations promoting renewable energy infrastructure like solar photovoltaic generation and biofuels. It encompasses speed control, manual control , and operator interference control, ensuring thermal power plants efficiency and power supply reliability in thermal and gas turbine power plants. With innovative technologies and sensors ensuring precise control in wind turbine application and steam turbine control system applications, it addresses the energy demand of developing nations amidst urbanization and industrialization, offering a reliable source of electricity across end-use sectors.
Recent market developments have led to the adoption of advanced turbine control systems, which offer improved performance and reliability. These systems are crucial for controlling various power generation technologies, ensuring optimal operation and safety. As industries strive to improve their operational efficiency, the demand is expected to rise, driving further innovation in the field.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.05% |
Market growth 2023-2027 |
USD 3,746.09 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.44 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABB Ltd., American Superconductor Corp., Baker Hughes Co., Compressor Controls Corp., Emerson Electric Co., General Electric Co., Heinzmann GmbH and Co. KG, Honeywell International Inc., HPI Energy Services LLC, Innoway Future Solutions Pte Ltd., Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., Proeon Systems Ltd., Robert Bosch GmbH, Rockwell Automation Inc., Rolls Royce Holdings Plc, Siemens AG, Vestas Wind Systems AS, Woodward Inc., and Solar Turbines Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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