Global turbine control system market was valued at US$ 14.10 Bn in 2017 and is expected to reach US$ 20.50 Bn by 2026, at a CAGR of 4.79 % during a forecast period
Global turbine control system market
Increasing usage of renewable energy and an increase in demand for power supply are the key drivers for the turbine control system market. Furthermore, increasing installation of solar photovoltaic generation and government regulations for conventional power generation is limiting the growth in the global turbine control system market.
High-quality control for the steam turbine confirms the process remains stable with the high efficiency and increased reliability. Less than tolerable speed control often results in manual control or frequent operator interference in order to stunned speed fluctuations. Manual control hints to inefficient operation and it is also increasing the risk of machine and process trips.
The objective of the report is to present a comprehensive assessment of the global turbine control system market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global turbine control system market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Steam Turbine control system is expected to share a major contribution in the global turbine control system market. A steam turbine is a rotational heat engine, it is predominantly suited to be used to drive an electrical generator. The thermal efficiency of a steam turbine is generally higher than that of a reciprocating engine. It offers Very high power-to-weight ratio over reciprocating engines. They are suitable for large thermal power plants. In general, steam comprises a high amount of enthalpy. This entails lower mass flow rates compared to gas turbines. Steam turbines have superior reliability, predominantly in applications where constant high power output is required.
Temperature Control is expected to witnessing significant share in the global turbine control system market. The growth can be attributed to the increasing usage of the temperature control in the applications such as gas turbine power plants. In the gas turbine, air is directly taken from the atmosphere and assorted with the fuel to produce electrical energy. An ambient temperature of the air is an important factor on which the power output of a gas turbine depends. The temperature control of the gas turbine is also significant for avoiding the excess rise in the temperature of the gas turbine.
Sensors segment is expected to grow at a high rate of CAGR during the forecast period. Sensors segment contain displacement sensors, temperature sensors, vibration sensors, and position sensors, SiC flame tracker sensor, and humidity I&C module. It primarily used to deliver real-time control solutions to maximize power output. Sensors are widely used in the wind turbine application. For manufacturing of robust automation products, magnetic sensors are provided optimal requisites for the whole monitoring and the harmless operation of all spinning components in a wind turbine.
Geographically, North America is projected to share major contribution in the turbine control systems during the forecast period. This region is experiencing various project development to preserve the demand-supply balance. The US, which is one of the major share contributors to the region. The country is projected to develop innovative technologies for innovative gas turbine components. An upsurge in investment and governmental investments in the economic and infrastructure growth are estimated to boost the turbine control systems market in the region.
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The Scope of the Report Global Turbine Control System Market
Global Turbine Control System Market, By Type
Global Turbine Control System Market, By Function
Global Turbine Control System Market, By Component
Global Turbine Control System Market, By Geography
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