Technological advancements coupled with favorable government regulations to drive global turbine control system market through 2026
According to TechSci Research report, “Global Turbine Control System Market By Type [Gas Turbine; Steam Turbine; Others], By Function [Speed Control; Load Control; Temperature Control; Pressure Control; Others], By Component [Sensors; HMI; Controllers; Software; Others] By Region, Competition, Forecast & Opportunities, 2026”, global turbine control system market was valued USD13.95 billion in 2020 and is forecast to grow at a CAGR of over 4% in the next five years. Anticipated growth in the market can be attributed to increasing development of gas-fired power plants and surging focus on enhancing the operational efficiency of power generation. Turbine control systems play a crucial role in the electricity generation while maximizing the efficiency of turbine equipment, thereby enhancing its productivity. Due to continuous growth of industrialization and rapid urbanization across all regions of the globe, the demand for power supply is increasing at a high pace. An increasing number of power generation units especially in India, China & Africa is expected to boost the demand for turbine control systems.
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Global turbine control system market can be segmented based on type, function, component and region. In terms of component, global turbine control system market has been categorized into sensors, HMI, controllers, software and others. Among these, software category led the market in 2020 with share of 36.08%. The operations of the turbine control system are conducted through electronic functions and algorithms that are incorporated in the software components of the turbine control system, contributing to the leading share of the segment.
Some of the companies operating in the turbine control system market include ABB Ltd., Siemens AG, General Electric Company, The Emerson Electric Co., Woodward, Inc., Rolls-Royce PLC, Rockwell Automation, Inc., Honeywell International Inc., Heinzmann GmbH & Co. KG and American Superconductor Corporation.
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“The market in Asia Pacific is estimated to be the largest in the turbine control system market with a share of 35.20% in 2020 owing to the growing demand for uninterrupted power supply and the rising number of oil and gas activities in the region. Additionally, policy level support from the governments of emerging countries to promulgate gas-based power generation is also supporting turbine control system market in the region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Turbine Control System Market By Type [Gas Turbine; Steam Turbine; Others], By Function [Speed Control; Load Control; Temperature Control; Pressure Control; Others], By Component [Sensors; HMI; Controllers; Software; Others] By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of global turbine control system market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global turbine control system market.
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