Turbine Control Systems Market Trends and Segments 2018-2028
Turbine Control Systems Market Likely to Bloom, Owing to Growing Natural Gas Production
In the near future, the turbine control systems market is likely to
expand, owing to the rise in development of gas-fired power plants and
growing focus on improving the operational competence of power
generation. To achieve the same, industries are opting for integration
between automation and control technologies in its systems.
Moreover, the power generation using gas could surge due to the growing
natural gas production lately. The U.S. Energy Information
Administration (EIA) stats show that in the US, natural gas production
has climbed from 55 billion cubic feet per day (Bcf/d) a decade back to
average 73.6 Bcf/d last year. The higher the number of turbines
installed presently and the upcoming installations, the higher will be
the opportunities of growth in turbine control systems market.
Furthermore, in this technology-driven world, more and more power
industries are retrofitting their outdated gas turbine plants with
control systems to make their operations more efficient.
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Growing Deployment of Solar Power Could Hinder Turbine Control Systems Market
As clean power gain ground, the growth of solar-based power generation
could prevail. According to IRENA, the worldwide weighted average cost
of utility-scale PV has declined by 68% between 2010 and 2017. Also, the
declaration of renewable energy technologies has emerged as a huge
roadblock for power generation from conventional sources, like
coal-based power generation. In many countries, concerns related to
environment have resulted into restrictions on coal-based power
generation, and are increasing replaced by power generation.
Turbine Control Systems Market Structure
The segmentation of turbine control systems market can be done on the
basis of component type, functions type, and geographical analysis.
In terms of functionality, the market can be divided based on speed
control, load control, temperature control, pressure control etc. Speed
control segment includes speed limiting and acceleration functions, and
usually preferred in steam turbines, gas turbines, and wind turbines.
In terms of type, the market can be segmented based on gas, steam, and
hydro turbines etc. By type, steam turbine control systems market is
likely to bloom due to the growing dependency of coal-based,
diesel-based, and oil-based power generation in the developing
countries.
Steam turbine control systems have been designed using the existing technology to operate a turbine safely.
In terms of component type, turbine control systems can be segmented
based on software, sensors, HMI, controllers, etc. The sub-segment
software includes IT applications like advanced process control systems,
process optimization, process safety solutions, and digital
synchronization, etc. This sub-segment is offering a common platform for
devices to connect and operate.
Asia Pacific: Lucrative for Turbine Control Systems Market
Asia Pacific is likely to emerge as the leading market for turbine
control system. As per International Energy Agency (IEA), the world’s
most populated country China is likely to install 36% of total worldwide
hydroelectricity generation capacity, 40% of all global wind energy,
and 36% of all solar energy between 2015 and 2021. Renewable energy
sector in this area is likely to experience immense growth due to the
aforementioned factors, which will further put a positive impact on the
turbine control systems market.
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Key Players in Turbine Control Systems Market
Some of the key players in Turbine Control Systems Market are The
Emerson Electric Company; Swiss-Swedish multinational corporation ABB;
German conglomerate company Siemens; and French multinational
corporation, Schneider Electric, etc.
Emersion Electric: In November last year, The Emerson Electric Company
released the updated version of the Ovation control module, Ovation OCC
100. It is a highly reliable and innovative control platform for power
generation.