Press release
Rising Demand For Electricity Driving Growth Of Turbine Control System Market Driver: A Major Catalyst in the Evolution of the Turbine Control System Market in 2025
Turbine Control System Market
The escalating need for electricity is projected to boost the turbine control system market's growth in the future. Electricity, produced through the motion of charged particles, primarily electrons, is seeing a surge in demand due to factors like population increase, urban expansion, industrialization, and technological advancements. Turbine control systems are instrumental in power production as they adjust the functioning of turbines, maintain their efficient and safe working, and manage the steam directed towards steam turbines under different situations via extraction control valves. For example, Our World in Data, a scientific online publication organization based in the UK, reported that the electricity demand in the US surged from 4,192.9 TWh (terawatt-hour) in 2021 to 4,338.1 TWh (terawatt-hour) in 2022. Hence, the growing demand for electricity is fuelling the expansion of the turbine control system market.
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What is the projected compound annual growth rate (CAGR) of the turbine control system market from 2025 to 2034, and what factors influence it?
There has been a robust growth in the size of the turbine control system market in the past years. Its growth rate is projected to increase from $19.34 billion in 2024 to $20.52 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.1%. Factors contributing to the expansion during the historical period include developments in turbine technology, the need for energy efficiency, adherence to regulations, the ascendency of industrial automation, and the appearance of renewable energy.
The expected steady expansion of the turbine control system market sees it reaching a value of $24.64 billion in 2029, with a compound annual growth rate of 4.7%. This predicted growth over the forecast period is largely tied to increases in renewable energy production, advancements in energy transition policy, industry 4.0 and digitalization, initiatives for grid modernization, and heightened concerns regarding cybersecurity. The upcoming trends during the projected period include the implementation of artificial intelligence and machine learning, increased use of remote monitoring and control, advancements in cybersecurity, the use of digital twin technology, and the advent of decentralized energy systems.
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How are the latest trends influencing the growth of the turbine control system market?
Significant players in the turbine control system market are focusing on the creation of advanced solutions like centrum VP R6.10. These solutions aim to enhance the efficiency of operations, engineering, procurement, and maintenance within plants and facilities by converging control systems onto a single platform. The primary goal is to facilitate the control of steam turbines used for compressor drives and the comprehensive control of multiple compressor trains. A prime example of this occurred in November 2022 when Yokogawa Electric Corporation, an electrical engineering and software enterprise based in Japan, introduced CENTUM VP R6.10. This latest iteration of their integrated production control system is designed to manage steam turbine control for compressor drives and the centralized control of multiple compressor trains. Its key features include a broadened control range, support for CCC Inside, streamlined operations, and ease of engineering, procurement, and maintenance.
What are the major segments of the turbine control system market and their role in driving growth?
The turbine control system market covered in this report is segmented -
1) By Type: Gas Turbine, Steam Turbine, Hydro-Turbine, Wind Turbine, Other Types
2) By Component: Sensors, Human-Machine Interface, Controllers, Software, Other Components
3) By Function: Speed Control, Load Control, Temperature Control, Pressure Control, Other Functions
4) By Application: Power Generation, Oil And Gas, Marine, Other Applications
Subsegments:
1) By Gas Turbine: Industrial Gas Turbines, Aeroderivative Gas Turbines
2) By Steam Turbine: Condensing Steam Turbine, Back Pressure Steam Turbine, Extraction Steam Turbine
3) By Hydro-Turbine: Pelton Turbine, Francis Turbine, Kaplan Turbine
4) By Wind Turbine: Horizontal-Axis Wind Turbine (HAWT), Vertical-Axis Wind Turbine (VAWT)
5) By Other Types: Microturbine, Organic Rankine Cycle (ORC) Turbine, Wave Energy Turbine
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Asia-Pacific was the largest region in the turbine control system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the turbine control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the turbine control system market?
Major companies operating in the turbine control system market are Siemens AG, General Electric Company, Mitsubishi Electric Corporation, Honeywell International Inc., ABB Ltd., Rolls-Royce Holdings plc, Emerson Electric Co., Danfoss Power Solutions Inc., Rockwell Automation Inc., WEG Electric Corp., Voith Group, Sulzer Ltd., Woodward Inc., Brunel Energy Pty Ltd., Enercon Services Inc., Schneider Electric Societas Europaea, Compressor Controls Corporation, Bently Nevada, Omicron Energy Solutions, Power Systems Manufacturing, LLC, Qualitrol Corporation, Endurance Wind Power Inc., Peak Machinery Inc., Turbine Controls Ltd., Turbine Technology Services Corporation
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What Is Covered In The Turbine Control System Global Market Report?
•Market Size Forecast: Examine the turbine control system market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the turbine control system market for a structured understanding.
•Key Players Overview: Analyze major players in the turbine control system market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the turbine control system market.
•Segment Contributions: Evaluate how different segments drive overall growth in the turbine control system market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the turbine control system market.
•Industry Challenges: Identify potential risks and obstacles affecting the turbine control system market.
•Competitive Landscape: Review strategic developments in the turbine control system market, including expansions, agreements, and new product launches.
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