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Turbine Control System Market Trends

Report ID: GMI6195
Published Date: Jul 2023
Report Format: PDF

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Turbine Control System Market Trends

Increasing demand for retrofit solutions with focus on sustainability and environmental impact will strengthen the industry scenario. Emphasis on enhanced efficiency and energy production along with focus on grid integration and stability will ensure stable power transmission and favorable demand. The aging power infrastructure in various countries in line with increasing concerns toward environmental sustainability and energy conservation will fuel the product penetration.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of turbine control system was reached USD 21.1 billion in 2023 and is estimated to surpass USD 34.1 billion by 2032, owing to the rising investments in offshore wind farms driven by increasing demand for renewable energy sources.

Hydro turbine control system industry size is poised to gain significant momentum at 5.3% CAGR from 2023 to 2032, attributed to the rising investments in power projects and the surge in environmental concerns and regulations.

North America market was worth USD 4.9 billion in 2022 and is projected to grow at a robust pace through 2032, due to the rapid consumer shift towards clean energy in the region.

Some of the top firms engaged in the market are ABB, Siemens Energy, General Electric, WOODWARD, Honeywell International, Emerson Electric Co., Rockwell Automation, Schneider Electric, Yokogawa Electric Corporation, and Mitsubishi Electric Corporation.