Turbine Control System Market 2021 Competitive Insights and Outlook- ABB Ltd, Emerson Electric Co., General Electric Company, Honeywell International Inc., Rockwell Automation, Siemens AG

The report presents an in-depth assessment of the Turbine Control System Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Turbine Control System from 2021 till 2025. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.

The turbine control system market majorly depends on the power generation industry and is expected to grow with more than a CAGR of over 3.6% during the forecast period of 2020-2025.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Turbine Control System Market: ABB Ltd, Emerson Electric Co., UBE Industries, Ltd., General Electric Company, Honeywell International Inc., Rockwell Automation, Siemens AG, Rolls-Royce Holding PLC, Kawasaki Heavy Industries Ltd, Mita-Teknik AS and others.

Market Overview:

Turbine control systems play a crucial role in the energy generation, manufacturing, and process industries. The turbine control systems maximize the efficiency of turbine equipment, thereby enhancing its productivity. The abundance of natural gas, coupled with its increasing applications across various end-user industries, especially power generation, is expected to spur the growth of the global natural gas consumption. The growing use of natural gas is expected to drive the demand for turbine-based power plants, which, in turn, is likely to escalate the need for the turbine control systems market, globally. However, the increasing growth in solar power-based generation encourages the power plant generated electricity users to opt for alternate energy production methods, which, in the long run, reduces the deployment of the turbine control system, thus restraining the growth of the market studied. The turbine, used in steam turbine power generation (holds the highest demand for turbine control systems), oil and gas, and process facilities, often represents the most critical capital equipment investment. Moreover, production and plant safety are directly related to turbine control systems.

Regional Analysis For Turbine Control System Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Market Key Trends:

Increase In Demand Of Steam Turbine Control System For Power Generation
- In order to reduce emissions, many countries, such as the United States, China, and the United Kingdom, etc., started to shift away from coal toward natural gas or renewable energy.
- With the advent of efficient gas turbines and inherent environmental benefits associated with natural gas (natural gas emissions are at the most one-third of coal or petrol), demand for natural gas jumped by 4.6% in 2018, and current natural gas-based power generation accounts for more than half of the demand growth in the world. A recent report by EIA shows that the US gas demand grew by 10% in 2018. This is the highest increase seen in the past several decades, encouraged by the power sector (approximately +15 GW of new gas-fired power plants).
- Global gas consumption is likely to reach 4.3 trillion cubic meters (TCM) by the forecast period, as compared to 3.9 TCM in 2018, particularly in Asia and the Middle East. According to EIA, Chinas natural gas consumption is expected to surpass all other countries, except the United States. China is expected to account for more than 40% of the global gas demand growth by 2024, propelled by the demand for power supply and the governments goal to improve air quality. Therefore, these countries are expected to drive high demand for turbine control systems due to the gas-fired power generation, during the forecast period.
- Therefore, the turbine control systems market is expected to grow in the coming years on account of increasing development of gas-fired power plants, increasing wind power demand and surging focus on enhancing the operational efficiency of power generation.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Turbine Control System Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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