Power Plant Control System Market -by Application (Turbine, Boiler, Balance of Plant, Generator, and Reactor), by Solution (PLC, SCADA, and DCS), By Component (Hardware, Software, and Services), By Plant Type (Natural Gas, Coal, Nuclear, Hydroelectric, Renewables, and Oil), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Global Power Plant Control System market is likely to accrue earnings worth approximately 7.95 (USD Billion) by 2025 and is set to record a CAGR of about 6% over the period from 2020 to 2026.

29-Jun-2020 | Number of pages: 110 | Report Code: ZMR-3116 | Report Format : | Status : Published

Abstract

The global Power Plant Control System market is likely to accrue earnings worth approximately 7.95 (USD Billion) by 2025 and is set to record a CAGR of about 6% over the period from 2020 to 2026. The report offers assessment and analysis of the Power Plant Control System market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Introduction

To control power plants has become a necessity in the modern age of automation and hence there is a growing significance of power plant control systems.  These systems regulate the operations or functioning of electric auxiliaries for grid connectivity, auxiliary transformers, unit transformers, generator protection, switchgear, and excitation.

Furthermore, escalating demand for power supply globally will boost the need for operating efficiency of the power units, thereby enhancing the popularity of power plant control systems. In addition to this, growing environmental consciousness and global warming issues will result in massive need for power plant efficacy, thereby culminating in huge popularity of power plant control systems in the coming years.

Details of the Report:

Report Metric

Details

Base Year

2019

Historical Data

2017 and 2018

Forecast period

2020-2026

Market Representation

Earnings provided in terms of USD Billion and CAGR estimated from 2020 to 2026

Segments Analyzed

By Component, By Solution, By Plant Type, By Application, and By Region

Regions Analyzed

North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa

Market Growth Dynamics

Humungous need for new energy sources and inception of industry 4.0 are likely to drive the market trends. Additionally, favorable government schemes supporting the acceptance of industrial automation will propel the market demand over the coming decade. Furthermore, Industrial IoT and real-time decision making systems are projected to generate new growth avenues for power plant control system market over the years ahead.

Moreover, growing issues in power generation as well as transmission or distribution of electricity will embellish the growth rate of power plant control system industry over the forthcoming years. Most prominently, mechanization & breakthroughs in power generating techniques has facilitated smart operations of power units, thereby accentuating the business growth over the years ahead. Rapid expansion of power sector and growing demand for power plant control systems by autonomous power producers will carve a profitable growth map for the market over the ensuing years.

Asia Pacific to Steer Overall Market Surge During Forecast TimeLine

The regional market expansion over the estimated timeline is credited to rise in the population resulting in massive power usage, increase in the outages, and growing need for upgradation of old power units in the emerging economies like India and Vietnam. Additionally, growing renewable energy trends and refurbishment activities in power plants will steer the regional market trends.

Ky players profiled in the report include Emerson, ABB, Siemens, GE, and Honeywell Systems.

The global power plant control system market is segmented as follows:

By Solution

  • Supervisory Control and Data Acquisition (SCADA)
  • Programmable Logic Controller (PLC)
  • Distributed Control System (DCS)
  • Product Lifecycle Management (PLM)
  • Plant Asset Management (PAM)

By Component

  • Hardware
    • Controller
    • Input Output Devices
    • Workstations
    • Networking Hardware
  • Software
  • Services

By Application

  • Boiler and Auxiliaries Control
  • Turbine and Auxiliaries Control
  • Generator Excitation and Electrical Control
  • Generator (Rod Control, Reactor Control, Balance of Plant Control)

By Plant Type

  • Coal
  • Natural Gas
  • Hydroelectric
  • Nuclear
  • Oil
  • Renewables
    • Wind
    • Solar
    • BioFuels

By Region

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

 


Frequently Asked Questions

The key growth drivers that will steer the market growth include need for operational efficiency of power plants and demand for alternate or new energy sources.

The CAGR of the industry is expected to be nearly 6% during the forecast timespan.

Asia Pacific region will contribute remarkably towards the global market revenue over the estimated timeline.

The key market participants include Emerson, ABB, Siemens, GE, and Honeywell Systems.

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