Turbine Control Systems Market - Top Manufacturers, Growth Factors, Business Boosting Strategies and Competitive Landscape till 2023embed
The global turbine control systems market is expected to grow at a CAGR of 4.73% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global turbine control systems market is mai
Global Non-Volatile Memory Market Research Report: Forecast to 2023 Turbine Control Systems Market Research Report: Global Forecast to 2023 Page |1 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 VIEW REPORT PRESS RELEASE SAMPLE REPORT Page |2 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Summary The turbine control systems are meant to control the flow of water or steam in all operational conditions. Market Research Future (MRFR) has published a research report about the global turbine control systems market that displays prosperity for this market at 4.73% CAGR (Compound Annual Growth Rate) between 2018 and 2023. By value, the market has been figured to be worth the US $ 19 bn by the end of the forecast period. A prominent factor extending the global turbine control systems market growth is rising awareness about the positive effects of renewable energy on the environment. The second factor proliferating the market growth include complementary regulations enforced for the large-scale adoption of renewable energy. However, the requirement of substantial initial investment can cause glitches in the market growth. Wind energy has come up as a viable renewable energy source in the last few years, with several governments setting up infrastructure to support long-term and large-scale use of wind power for electricity generation. The merits of wind energy include the fact that it comes from a renewable resource, i.e. wind. The environmental footprint of wind power is drastically lower compared to conventional forms of electricity generation, which has made it an attractive proposition for energy regulatory bodies around the world. The growing demand for wind energy generation in emerging regions around the world is likely to be a major driver for the global turbine control systems market over the forecast period. Turbine control systems provide one-stop control over turbine systems, allowing the operators to run the operations smoothly and without difficulties. The global turbine control systems market has also been driven by the growing demand for automation in the power generation sector, as automation makes everything easier and less complicated than before. Turbine control systems can control the speed of turbines as well as watching out for anomalies and risks in terms of temperature and pressure. The comprehensive coverage provided by turbine control systems is likely to drive the global turbine control systems market over the forecast period. Page |3 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Market Segmentation The global turbine control systems market can be segmented into component, function, type, and lastly, region. Based on component, this market has been segmented into the controller, human-machine interface (HMI), sensors, software, and others. The function-based segmentation segments the market into load control, speed control, temperature control, pressure control, and others. By type, the market can be segmented into gas turbine, steam turbine, and others. Regional Analysis The regional segmentation of the global turbine control systems market can segment the market into the regional markets namely North America, Asia Pacific, Europe, and rest of the world (RoW). The Asia Pacific region is likely to remain as the largest as well as the fastest growing regional market due to the consolidation of fast developing and developed economies in this region that is helping the regional market expansion. Other factors aiding the market growth in this region include government initiatives encouraging the generation of renewable energy, growing investments in the energy sector, and rising awareness about cleaner energy. Due to the high density of population and growing consumption of power in China and India, the Asia Pacific region is the largest consumer of power in the whole world. Other important country-specific in this region are Australia and Japan, followed by the remaining countries of the Asia Pacific region. Due to technological advancement, the presence of key market players and established power generation infrastructure, North America is another regional market, and the headlines of this market are revenue from Canada and USA. Europe is another major regional market in this region due to the presence of many key market players. The cream of this regional market lies in the revenue from Italy, Germany, Spain, and the UK, followed by the remaining countries of Europe. Page |4 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Competitive Landscape The key players in the global turbine control systems market include ABB Group (Switzerland), DNV GL AS (Norway), Emerson Electric Co (USA), General Electric (USA), Heinzmann GmbH & Co. KG (Germany), Honeywell International Inc. (USA), HPI LLC (USA), Innoway Future Solutions (Singapore), Mita-Teknik (Denmark), Proeon Systems Ltd. (England), Rockwell Automation Inc. (USA), Siemens AG (Germany), Spica Technology ApS (Denmark), Turbine Controls Ltd. (UK), and Woodward Inc. (USA). Industry Updates: • • A team comprising of engineers from General Electric (GE) and Southwest Research Institute have designed, built and tested the highest temperature supercritical carbon dioxide (sCO2) turbine in the world. 8 APR 2019 According to a new contract won by Bilfinger UK from Voith Hydro, the former is to deliver electrical services, mechanical services, installation services, and maintenance services at the 360MW Ffestiniog pumped storage station in North Wales. Forming part of a significant restoration project that is likely to complete in 2020, this deal involves refurbished the two turbine-generator units. 18 APR 2019 Page |5 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools. Page |6 Copyright © 2017 Market Research Future.