Originally published on Technavio:Turbine Control System Market Analysis Across APAC, North America, Europe, South America, Middle East, and Africa - US, China, India, Germany, UK - Size and Forecast 2023-2027
Turbine Control System Market Forecast 2023-2027
The turbine control system market size is projected to increase by USD 3.75 billion, with a CAGR of 4.05% from 2022 to 2027. Market growth hinges on several factors, including universal turbine monitoring and control systems enabling cross-vendor compatibility, the rise in wind energy generation and usage, and growing investments in renewable energy sources. Our report examines historic data from 2017 to 2021, alongside analyzing the current market scenario. It also provides an in-depth analysis of drivers, trends, and challenges.
Component Segment Analysis:
The sensors segment is poised to dominate the market's growth during the forecast period. Sensors are critical components widely used for monitoring 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 turbine control systems market is experiencing significant growth.
Turbine Control System Market Size
The sensors segment was valued at USD 4,295.99 million in 2017 and continued to grow until 2021. Pressure sensors, in particular, help ensure optimal operating conditions. Advancements in sensor technology, such as integrating IoT and artificial intelligence (AI) capabilities, are making these systems commonplace in power plants worldwide. This will increase sensor acceptance as a component of the global market, driving market growth during the forecast period.
Market Dynamics
Our researchers studied data from 2022 as the base year and 2023 as the estimated year, presenting the key drivers, trends, and challenges for the market.
The market is witnessing significant technological advancements, with major players investing more in 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 running on Rockwell ControlLogix and Siemens S7 PLC controllers.
Significant Challenge - False Alarms Cast Doubts on Turbine Part Reliability
Turbine monitoring system modules receive information from all system, subsystem, and component levels. In some cases, monitoring systems installed on turbines have triggered false alarms, casting doubt on their reliability. This leads to unnecessary system maintenance. False alarms can be costly, and critical subsystem alarms will shut down turbines until components are inspected by trained technicians.
Moreover, false alarms affect overall turbine operation. These failures typically require complete replacement of turbine components, which is very expensive. Mechanical failures, therefore, result in false alarms within the system, affecting overall system functioning. Due to these factors, the market is expected to face growth challenges during the forecast period.
Regional Analysi
APAC is estimated to contribute 44% to market growth by 2027. Technavio analysts have elaborated on regional trends, drivers, and challenges expected to shape the market during the forecast period. Rapid proliferation of renewable energy projects and rising power demand worldwide have been the main drivers for market growth in the region. Japan, China, and India have emerged as key players in the sector.
Furthermore, Japan's transition to greener energy sources in the post-Fukushima era has accelerated adoption in the Japanese power generation industry. As APAC countries continue exploring sustainable alternative energy sources, the market is expected to continue growing during the forecast period.
Companies are employing various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to strengthen their market presence.
Siemens AG: The company offers SPPA R3000 Turbine Controls.
We also provide 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.
To Learn deeper into this report , View Sample PDF
Technavio's report provides in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis categorizes 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 quantitative data analysis.
The market report forecasts revenue-based market growth at global, regional, and country levels and provides an analysis of market growth and trends opportunities from 2017 to 2027.
For more information please contact.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
