How Turbine Control System Market will Grow at Highest CAGR

The global turbine control systems market is expected to grow at a fast pace owing to the rising demand for efficiency around the world. This information is published in an upcoming report by Fortune Business Insights, titled, “Turbine Control Systems Market Size, Share and Global Trend By Type (Gas turbine, Steam Turbine, Hydro-Turbine, Wind Turbine), By Control System (Temperature, Pressure, Flow, Speed), By End-User (Oil and Gas, Power Generation, Refrigeration, Aerospace, Marine, Automotive) and Geography Forecast till 2026.” The report also states that control systems result in the automation of turbine operations. Automation further reduces human errors and operating costs. At the same time, it increases the safety and lifespan of the equipment.

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The report examines competitive developments, namely, acquisitions, new product launches, expansion, and mergers in the market. It identifies and defines the turbine control systems market trends, regional analysis, growth drivers, hindrances, and other related challenges. It further conducts the pricing analysis for the market.

Some of the key players operating in the turbine control systems market are as follows:

Honeywell
ABB
Bosch Rexroth
Woodward, Inc.
L&T Electrical & Automation
Compressor Controls Corporation (CCC)
Siemens Energy
GE Power
Mitsubishi Electric Corporation
Emerson
Yokogawa Electric Corporation
Turbine Controls Ltd.
ANDRITZ
Heinzmann GmbH & Co. KG
Proeon Systems Ltd.
Mitsubishi Hitachi Power Systems, Ltd.

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“Introduction to Digital Control System to Favor Growth in North America & Europe”

The turbine control systems market can be geographically segregated into Europe, the Middle East and Africa, North America, Latin America, and Asia Pacific. Amongst these regions, in North America and Europe, the obsolete control systems of conventional power plants (hydro and thermal) are being replaced by electronic, digital, and modern control systems. European countries, such as Denmark and Germany are the leading power producing areas that utilize offshore wind power plants.

In the U.S. and the Middle Eastern countries, integrated turbine compressor control units are used the most to increase the efficiency of gas and oil units. Africa, on the other hand, holds the maximum potential as they are used extensively in the marine, automotive, and aerospace industry. In Asia Pacific, China and India house many power generation units. It will boost the turbine control systems market growth in this region.

“Siemens Bags Two Orders from Iraq and the Duqm Integrated Power and Water Project”

The turbine control systems market consists of small, medium, and big enterprises. These key players are emphasizing on strengthening their sales and marketing channels in various ways. Some are launching new products, while others are aiming to receive orders from other countries or companies to increase their turbine control systems market share in the coming years. Below are two of the latest industry developments:

July 2019: Siemens, a multinational conglomerate company, headquartered in Germany, declared that it has achieved an order from the 840-megawatt (MW) Maisan combined cycle power plant in Iraq. The company will supply long-term power generation services and key components. The contract was awarded to Siemens by CITIC Construction Co., Ltd., a leading provider of consulting and financial services, based in China. The power project is anticipated to provide its first power by March 2021. It is likely to enter full combined cycle mode by 2022. According to the company, the plant will supply electricity to more than three million people living in Iraq. It will also support the industrial sector.

January 2019: Siemens announced that it has successfully bagged a contract from the government of Oman to supply steam and gas turbines, digital solutions, and long-term power generation services to the Duqm Integrated Power and Water project (DIPWP). The total contract is worth around USD 228.3 Million. The project is set to get over by 2022. DIPWP will install a generating capacity of 36,000 cubic meters of desalinated water and 326MW in combined-cycle duty for the petrochemical facilities and Duqm refinery per year. The contract will enable Siemens to provide a combined cycle power plant that includes five SST-300 industrial steam turbines, five SGT-800 industrial gas turbines, and the associated control system.

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