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.
Get Your Turbine Control System Market Report Here:
https://www.thebusinessresearchcompany.com/report/turbine-control-system-global-market-report
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.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14523&type=smp
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
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14523
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
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=14523&type=smp
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.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your 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 here
News-ID: 3917750 • Views: …
More Releases from The Business Research Company
Top Market Shifts Transforming the Rainwater Harvesting Systems Market Landscape …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Rainwater Harvesting Systems Market Through 2025?
Over the past few years, there has been substantial growth in the market size of rainwater harvesting systems. The industry, which was valued at $1.94 billion in 2024, is predicted to rise to $2.07 billion by…
Live Concerts Fueling Surge In Percussion Instruments Market Growth: Transformat …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Percussion Instruments Industry Market Size Be by 2025?
Over the past few years, the market size of percussion instruments has examined a steady rise. With an increase from $1.44 billion in 2024 to $1.47 billion in 2025, it expects a Compound Annual Growth Rate (CAGR) of…
Emerging Trends to Drive Hydraulic Equipment Market Growth at 3.5% CAGR Through …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Hydraulic Equipment Market Size Growth Forecast: What to Expect by 2025?
The size of the hydraulic equipment market has consistently increased in the past few years. Projections show that it will rise from $45.21 billion in 2024 to $46.86 billion in 2025, recording a compound annual growth rate (CAGR)…
Emerging Trends to Reshape the Fishing Drones Market: Innovative Advancement In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Fishing Drones Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of fishing drones has seen a swift increase in the past few years. An expansion from $0.89 billion in 2024 to $0.99 billion in 2025, representing a compound annual growth rate (CAGR)…
More Releases for Turbine
Power Demand Surge Propels Growth In Turbine And Turbine Generator Set Units Mar …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Turbine and Turbine Generator Set Units Market Size Growth Forecast: What to Expect by 2025?
In recent times, the turbine and turbine generator set units market has seen robust growth. Projecting forward, the market is forecast to increase from a valuation of $230.95 billion in 2024 to a higher…
Key Trend Reshaping the Turbine and Turbine Generator Set Units Market Segments …
How Are the key drivers contributing to the expansion of the turbine and turbine generator set units Market Segments?
The augmentation in power needs is substantially enabling the expansion of the turbine and turbine generator set units Market Segments. The level of power consumption at any specific moment is what defines its demand. The higher the demand, the more electricity is being used at that specific period. Turbines and turbine generator…
Microturbine Market Opportunities and Demand (2020-2026) | Key Players: Capstone …
The global Microturbine Market is expected to grow mainly on account of the rising demand for clean energy. The overall microturbine market is expected to grow from USD 180 Million in 2018 to USD 360 Million by 2026 at a CAGR of 9.23% during the forecast period. According to a report, published by Fortune Business Insights, titled, "MICROTURBINE: GLOBAL MARKET ANALYSIS, INSIGHTS, AND FORECAST, 2018-2026" the shift from the turbocharger…
Global Micro Turbine Market 2019 - Capstone Turbine, Ansaldo Energia, FlexEnergy
This new report by Eon Market Research, titled “Global Micro Turbine Market 2019 Research Report, 2015 – 2025” offers a comprehensive analysis of Micro Turbine industry at a global as well as regional and country level. Key facts analyzed in this report include the Micro Turbine market size by players, regions, product types and end industries, history data 2014-2018 and forecast data 2019-2025. This report primarily focuses on the study…
Wind Turbine Operations and Maintenance Market | wind turbine maintenance, wind …
Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled “Wind Turbine Operations and Maintenance Market “
This research study analyzes the market for wind turbine operation and maintenance (O&M) in terms of revenue (US$ Mn). The wind turbine O&M market has been segmented on the basis of application and geography. The regional…
Global Micro Turbine Market 2018| Capstone Turbine, Ansaldo Energia, FlexEnergy, …
Albany, NY, 12th September : Recent research and the current scenario as well as future market potential of "Global Micro Turbine Market Research Report 2018" globally.
This report studies the global Micro Turbine market status and forecast, categorizes the global Micro Turbine market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast…
