|03-15-2019 12:46 PM CET - Energy & Environment||
Turbine Control Systems Market Projected to Expand at 4.73% CAGR During 2018-2023 by Players: Emerson Electric Co, Honeywell, Rockwell Automation, Woodward, Proeon Systems Ltd., Spica Technology ApS and Mita-Teknik
Press release from: Market Research Future
The global turbine control systems market is estimated to value at USD 19.20 Bn expanding at a CAGR of 4.73% during the forecast period 2018 to 2023. The growth of the energy sector coupled with rising demand for electricity from renewable energy has intensified the need for the deployment of automation. It is projected to accelerate the adoption of turbine control systems globally in the foreseeable future. Furthermore, the demand for efficient systems that boost operational efficiency is another major factor responsible for expediting the growth of the market over the next couple of years.
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The rising awareness about the favourable effects of renewable energy on the environment has catalyzed the proliferation of the market. The market is projected to attract a larger customer base over the assessment period. Additionally, the complementary regulations enforced for the large-scale adoption of renewable energy is anticipated to act as the catalyst to the market expansion. Nevertheless, the requirement of substantial initial investment is poised to hold the growth of the market in the foreseeable future.
Some of the key players operating in the global market include ABB (Switzerland), Emerson Electric Co (US), Honeywell International Inc (US), GENERAL ELECTRIC (US), Rockwell Automation, Inc (US), Siemens AG (Germany), Woodward, Inc (US), HEINZMANN GmbH & Co. KG (Germany), Innoway Future Solutions (Singapore), Proeon Systems Ltd. (England), DNV GL AS (Norway), Turbine Controls Ltd. (United Kingdom), Spica Technology ApS (Denmark), HPI, LLC (US) and Mita-Teknik (Denmark).
Global Market for Turbine Control Systems – Segmental Analysis:
MRFR’s report offers a segmental analysis of the market based on type, function, and component.
By type, the market has been segmented into steam turbine, gas turbine, and others. Among these, the steam turbine segment is projected to lead the global market and expand at a higher pace than other segments over the assessment period.
By function, the market has been segmented into speed control, temperature control, load control, pressure control and others. The speed control segment is likely to hold a dominant share of the market through the projection period.
By component, the turbine control systems market has been segmented into software, controller, sensors, HMI and others.
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Major Table Of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Macro Factor Indicators Analysis
2.5.1 GDP (USD Million)
2.5.2 GNI Per Capita, Atlas Method (USD)
2.5.3 GDP Per Capita PPP (USD)
3 Market Insights
4 Research Methodology
4.1 Research Solution Type
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
4.6 List Of Assumptions
5 Market Dynamics
5.2.1 Increase In Renewable Power Generation
5.2.2 Substantial Investment In Renewable Energy Sector, Globally
5.2.3 Rising Awareness Towards Cleaner Form Of Energy
5.2.4 Favorable Policies & Regulations To Support Renewable Energy Across Globe
5.2.5 Drivers Impact Analysis: Global Turbine Control Systems Market
5.3.1 Involvement Of Significant Initial Investment, Hampers The Market Growth
5.3.2 Restraints Impact Analysis: Global Turbine Control Systems Market
5.4.1 Rising Demand For Electricity From Renewable Energy Will Boost The Market Growth
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