Global Turbine Control Systems Market is valued at approximately USD 17.37 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.66% over the forecast period 2022-2029. Turbine control systems are used to regulate and control the operation of turbines, which are used in various industries to generate power from steam or gas. The Turbine Control Systems market is expanding because of factors such as the rising development of hydro projects and the rising adoption of automated turbine technology.
These systems use a combination of mechanical, electrical, and electronic components to monitor and control the operation of the turbine and its associated equipment. Its prevalence has progressively increased during the last few decades. According to the Statista, in 2021, the global installed capacity of renewable power will have surpassed 3 terawatts, with hydropower accounting for approximately 1.2 terawatts. Furthermore, in 2021 The Three Gorges Dam on the Yangtze River in China has been the world's largest hydroelectric dam in terms of power generation. The dam was equipped with 34 turbo generators, and the power plant had a capacity of 22.5 gigatons. Another important component driving space rising adoption of automated turbine technology. As per Statista, in 2021, China accounts leading position in terms of hydroelectricity generation worldwide with approx. 1,300 terawatt hours generated from hydro sources. In comparison, Russia's generated around 214.5-terawatt hours of energy during the same year. In addition, in 2021, the market value of global gas turbines are expected to reach over USD 20 billion worldwide. Also, advancements in the formulation and rising government initiatives to explore renewable sources of energy would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of Turbine Control Systems stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Turbine Control Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the rising technological advancement in turbine-based technology. According to Statista, in 2021, over 1.3 petawatt hours of energy were produced from renewable sources in North America. Furthermore, Europe is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising geriatric and target populations, and an increasing government initiative in promoting renewable energy consumption in the market space.
Major market player included in this report are:
- Honeywell International Inc. (US)
- General Electric Company (US)
- Emerson Electric Co. (US)
- ABB (Switzerland)
- Heinzmann GmbH & Co. KG (Germany)
- Woodward Inc. (the US)
- DNV GL (Norway)
- Siemens AG (Germany)
- Rockwell Automation (US)
- Spica Technology Aps (Denmark)
Recent Developments in the Market:
- In March 2020, Brest Republican Unitary Enterprise of Electricity Industry in Belarus awarded Siemens a turbine supply contract. The company will supply five SGT-800 industrial gas turbines for a new 254MW peak load and backup power plant.
Global Turbine Control Systems Market Report Scope:
- Historical Data 2019-2020-2021
- Base Year for Estimation 2021
- Forecast period 2022-2029
- Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered Component, Function, Type, Region
- Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Component:
By Function:
- Speed Control
- Temperature Control
- Load Control
- Pressure Control
- Others
By Type:
- Gas Turbine Control System
- Steam Turbine Control System
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Turbine Control Systems Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Turbine Control Systems Market, by Component, 2019-2029 (USD Billion)
- 1.2.3. Turbine Control Systems Market, by Function, 2019-2029 (USD Billion)
- 1.2.4. Turbine Control Systems Market, by Type, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Turbine Control Systems Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Turbine Control Systems Market Dynamics
- 3.1. Turbine Control Systems Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising development of hydro projects
- 3.1.1.2. Rising adoption of automated turbine technology
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Turbine Control Systems
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Formulation
- 3.1.3.2. Rising government initiatives to explore renewable sources of energy.
Chapter 4. Global Turbine Control Systems Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Turbine Control Systems Market, by Component
- 6.1. Market Snapshot
- 6.2. Global Turbine Control Systems Market by Component, Performance - Potential Analysis
- 6.3. Global Turbine Control Systems Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
- 6.4. Turbine Control Systems Market, Sub Segment Analysis
- 6.4.1. Hardware
- 6.4.2. Software
Chapter 7. Global Turbine Control Systems Market, by Function
- 7.1. Market Snapshot
- 7.2. Global Turbine Control Systems Market by Function, Performance - Potential Analysis
- 7.3. Global Turbine Control Systems Market Estimates & Forecasts by Function 2019-2029 (USD Billion)
- 7.4. Turbine Control Systems Market, Sub Segment Analysis
- 7.4.1. Speed Control
- 7.4.2. Temperature Control
- 7.4.3. Load Control
- 7.4.4. Pressure Control
- 7.4.5. Others
Chapter 8. Global Turbine Control Systems Market, by Type
- 8.1. Market Snapshot
- 8.2. Global Turbine Control Systems Market by Type, Performance - Potential Analysis
- 8.3. Global Turbine Control Systems Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
- 8.4. Turbine Control Systems Market, Sub Segment Analysis
- 8.4.1. Gas Turbine Control System
- 8.4.2. Steam Turbine Control System
- 8.4.3. Others
Chapter 9. Global Turbine Control Systems Market, Regional Analysis
- 9.1. Turbine Control Systems Market, Regional Market Snapshot
- 9.2. North America Turbine Control Systems Market
- 9.2.1. U.S. Turbine Control Systems Market
- 9.2.1.1. Component breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Function breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. Type breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada Turbine Control Systems Market
- 9.3. Europe Turbine Control Systems Market Snapshot
- 9.3.1. U.K. Turbine Control Systems Market
- 9.3.2. Germany Turbine Control Systems Market
- 9.3.3. France Turbine Control Systems Market
- 9.3.4. Spain Turbine Control Systems Market
- 9.3.5. Italy Turbine Control Systems Market
- 9.3.6. Rest of Europe Turbine Control Systems Market
- 9.4. Asia-Pacific Turbine Control Systems Market Snapshot
- 9.4.1. China Turbine Control Systems Market
- 9.4.2. India Turbine Control Systems Market
- 9.4.3. Japan Turbine Control Systems Market
- 9.4.4. Australia Turbine Control Systems Market
- 9.4.5. South Korea Turbine Control Systems Market
- 9.4.6. Rest of Asia Pacific Turbine Control Systems Market
- 9.5. Latin America Turbine Control Systems Market Snapshot
- 9.5.1. Brazil Turbine Control Systems Market
- 9.5.2. Mexico Turbine Control Systems Market
- 9.5.3. Rest of Latin America Turbine Control Systems Market
- 9.6. Rest of The World Turbine Control Systems Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. Honeywell International Inc. (US)
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. General Electric Company (US)
- 10.2.3. Emerson Electric Co. (US)
- 10.2.4. ABB (Switzerland)
- 10.2.5. Heinzmann GmbH & Co. KG (Germany)
- 10.2.6. Woodward Inc. (the US)
- 10.2.7. DNV GL (Norway)
- 10.2.8. Siemens AG (Germany)
- 10.2.9. Rockwell Automation (US)
- 10.2.10. Spica Technology Aps (Denmark)
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption