Industrial Turbine Control Systems Market: Introduction
- Turbine control system is designed to control and protect the different types of operations including steam turbine and gas turbine
- The operation of the control system is performed through the electronics function and algorithms that are incorporated in the software and hardware components of the turbine control system
Key Drivers of Industrial Turbine Control Systems Market
- Rise in demand for electricity across the globe has boosted the need for installation of new gas and steam power turbines. This is the major factor driving the industrial turbine control systems market.
- Turbine control systems play a vital role in energy generation, manufacturing, and process industries. These systems maximize the efficiency of turbine equipment, thereby enhancing its productivity. Rise in usage of natural gas in various end-use industries is expected to drive the demand for turbine-based power plants. This, in turn, is anticipated to propel the need for turbine control systems across the globe.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Steam Turbine Segment to Offer Attractive Opportunities
- The global industrial turbine control systems market can be segmented based on type, function, component, and region
- In terms of type, the market can be divided into steam turbines and gas turbines. Steam turbines is expected to be a rapidly growing segment of the market during the forecast period. Increase in usage of coal based, diesel based, and oil based power generation in developing countries is one of the key factors augmenting the industrial turbine control systems market.
- In terms of function, the market can be segregated into speed control, load control, temperature control, and others
- In terms of component, the market can be bifurcated into software and hardware. Software is expected to hold the major share of the market during the forecast period. The software segment is projected to expand at a fast-paced CAGR during the forecast period. The segment includes IT applications such as advanced process control systems, digital synchronization, and process optimization and process safety solutions. It provides a common platform for devices to connect and operate.
Asia Pacific to Hold Major Share of Global Industrial Turbine Control Systems Market
- In terms of region, the global industrial turbine control systems market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global industrial turbine control systems market in 2018. The market in the region is expected to expand at a prominent CAGR during the forecast period. This can be ascribed to policy level support from governments of emerging nations to promulgate gas-based power generation. Additionally, increase in industrialization in the region is likely to create a number of gas-based power generation facilities. This is further anticipated to boost the demand for industrial turbine control systems in Asia Pacific during the forecast period.
- In terms of revenue, China, Japan, India, and Indonesia are the key contributors to the industrial turbine control systems market in Asia Pacific
Expanding operations in future? To get the perfect launch ask for a custom report
Key Players Operating in Industrial Turbine Control Systems Market
The global industrial turbine control systems market is highly concentrated, with top manufacturers accounting for approximately 40% to 45% share. A few key players operating in the global industrial turbine control systems market are:
- Siemens AG
- Rolls-Royce PLC
- Rockwell Automation Inc.
- Honeywell International Inc.
- Heinzmann GmbH & Co. KG
- General Electric Company
- The Emerson Electric Co.
- American Superconductor Corporation
- ABB Ltd.
- In December 2017, EthosEnergy was awarded a control system contract in South Korea. The contract entails controls system upgrade on a Pratt & Whitney FT4C-3F TwinPac gas turbine using EthosEnergy’s innovative icon control system.
- In February 2016, Yokogawa Electric Corporation announced that it had received an order to supply turbine control systems for thermal power plant No. 4, the largest thermal power plant in Mongolia. This 2.1 Bn yen project is being undertaken to improve the efficiency of this facility's operations.
Global Industrial Turbine Control Systems Market: Research Scope
Global Industrial Turbine Control Systems Market, by Type
- Steam Turbines
- Gas Turbines
Global Industrial Turbine Control Systems Market, by Function
- Speed Control
- Load Control
- Temperature Control
Global Industrial Turbine Control Systems Market, by Component
Global Industrial Turbine Control Systems Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.
The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.
All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:
- Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
- Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
- Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
- Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Latin America
- Middle East and Africa
The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:
- What are the major recent trends that can influence the product life cycle and the RoI?
- Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
- Which micromarketing initiatives of leading players will bring in investments?
- What can be the best framework and tools for PESTLE analysis?
- Which regions will witness rise in new opportunities?
- Which are the game-changing technologies being used to capture new revenue streams in the near future?
- Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
- What is the current and expected intensity of competition the market in the near future?
Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.