Turbine Control System Market to Surpass USD19 Billion until 2026
Technological advancements
coupled with favorable government regulations to drive global turbine control
system market through 2026
According to TechSci Research report, “Global Turbine Control System Market By Type [Gas Turbine;
Steam Turbine; Others], By Function [Speed Control; Load Control; Temperature
Control; Pressure Control; Others], By Component [Sensors; HMI; Controllers;
Software; Others] By Region, Competition, Forecast & Opportunities, 2026”, global turbine control system market was valued USD13.95
billion in 2020 and is forecast to grow at a CAGR of over 4% in the next five
years. Anticipated growth in the market can be attributed to increasing
development of gas-fired power plants and surging focus on enhancing the
operational efficiency of power generation. Turbine control systems play a crucial role in the
electricity generation while maximizing the efficiency of turbine equipment,
thereby enhancing its productivity. Due to continuous growth of
industrialization and rapid urbanization across all regions of the globe, the
demand for power supply is increasing at a high pace. An increasing number of
power generation units especially in India, China & Africa is expected to
boost the demand for turbine control systems.
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Global turbine control
system market can be segmented based on type, function, component and region. In
terms of component, global turbine control system market has been categorized
into sensors, HMI, controllers, software and others. Among these, software
category led the market in 2020 with share of 36.08%. The operations of
the turbine control system are conducted
through electronic functions and
algorithms that are incorporated in the software components of the turbine
control system, contributing to the leading share of the segment.
Some of the companies operating in the turbine control system market
include ABB Ltd., Siemens AG, General Electric Company, The Emerson Electric
Co., Woodward, Inc., Rolls-Royce PLC, Rockwell Automation, Inc., Honeywell
International Inc., Heinzmann GmbH & Co. KG and American Superconductor
Corporation.
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“The market in Asia Pacific is estimated to be the largest in the
turbine control system market with a share of 35.20% in 2020 owing to the
growing demand for uninterrupted power supply and the rising number of oil and
gas activities in the region. Additionally, policy level support from the
governments of emerging countries to promulgate gas-based power generation is
also supporting turbine control system market in the region.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Turbine Control
System Market By Type [Gas Turbine; Steam Turbine; Others], By Function [Speed
Control; Load Control; Temperature Control; Pressure Control; Others], By
Component [Sensors; HMI; Controllers; Software; Others] By Region, Competition,
Forecast & Opportunities, 2026” has evaluated the future growth
potential of global turbine control system market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global turbine control system market.
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