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.

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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

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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.

Key Developments

  • 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
  • Others

Global Industrial Turbine Control Systems Market, by Component

  • Software
  • Hardware

Global Industrial Turbine Control Systems Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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