Industrial Turbine Control Systems Market: Introduction
- Turbine control system is designed to control and protect the different types of operations including steam turbine and gas turbine
- The operation of the control system is performed through the electronics function and algorithms that are incorporated in the software and hardware components of the turbine control system
Key Drivers of Industrial Turbine Control Systems Market
- Rise in demand for electricity across the globe has boosted the need for installation of new gas and steam power turbines. This is the major factor driving the industrial turbine control systems market.
- Turbine control systems play a vital role in energy generation, manufacturing, and process industries. These systems maximize the efficiency of turbine equipment, thereby enhancing its productivity. Rise in usage of natural gas in various end-use industries is expected to drive the demand for turbine-based power plants. This, in turn, is anticipated to propel the need for turbine control systems across the globe.
Steam Turbine Segment to Offer Attractive Opportunities
- The global industrial turbine control systems market can be segmented based on type, function, component, and region
- In terms of type, the market can be divided into steam turbines and gas turbines. Steam turbines is expected to be a rapidly growing segment of the market during the forecast period. Increase in usage of coal based, diesel based, and oil based power generation in developing countries is one of the key factors augmenting the industrial turbine control systems market.
- In terms of function, the market can be segregated into speed control, load control, temperature control, and others
- In terms of component, the market can be bifurcated into software and hardware. Software is expected to hold the major share of the market during the forecast period. The software segment is projected to expand at a fast-paced CAGR during the forecast period. The segment includes IT applications such as advanced process control systems, digital synchronization, and process optimization and process safety solutions. It provides a common platform for devices to connect and operate.
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Asia Pacific to Hold Major Share of Global Industrial Turbine Control Systems Market
- In terms of region, the global industrial turbine control systems market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global industrial turbine control systems market in 2018. The market in the region is expected to expand at a prominent CAGR during the forecast period. This can be ascribed to policy level support from governments of emerging nations to promulgate gas-based power generation. Additionally, increase in industrialization in the region is likely to create a number of gas-based power generation facilities. This is further anticipated to boost the demand for industrial turbine control systems in Asia Pacific during the forecast period.
- In terms of revenue, China, Japan, India, and Indonesia are the key contributors to the industrial turbine control systems market in Asia Pacific
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Key Players Operating in Industrial Turbine Control Systems Market
The global industrial turbine control systems market is highly concentrated, with top manufacturers accounting for approximately 40% to 45% share. A few key players operating in the global industrial turbine control systems market are:
- Siemens AG
- Rolls-Royce PLC
- Rockwell Automation Inc.
- Honeywell International Inc.
- Heinzmann GmbH & Co. KG
- General Electric Company
- The Emerson Electric Co.
- American Superconductor Corporation
- ABB Ltd.
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