The presence of abundance of natural gas and increasing application across various end use industries expected to create significant growth in the consumption of natural gas, in turn, drive the Turbomachinery Control System Market demand for turbomachinery.
The integration of turbomachinery equipment into a single control system is difficult and it require high investment. Moreover, governments of various countries are shifting to cleaner energy sources to reduce carbon emission levels from conventional fuels.
This trend will drive the customer to shift towards renewable source based generation, which reduces the deployment of turbomachinery. Therefore restraining the growth of the turbomachinery control system market in the forecast period.
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A mechanical control unit incorporated in the turbine main unit, which is the precursor of turbomachinery control system which are based on DEHC (Digital Electro-Hydraulic Controller) or EHC (Electro-Hydraulic Controller). This caused problem that different hardware used fixed between power generating plant control system and turbomachinery control system.
Hence, Yokogawa India Ltd. developed CENTUM VP which is an I/O module integrates DEHC and DCS features to monitor and control the power generation plant and turbomachinery control using unified hardware, contributing towards the turbomachinery control system market growth.
Global Turbomachinery Control System Market: Regional Outlook
North America industrial sector established strong base in the global turbomachinery control system market which results in stable demand for industrial equipment, expected to create growth opportunity for the turbomachinery control system.
Currently, Europe witness high market share following North America for the turbomachinery control system in the global market owing to the presence of large number of manufacturers.
Asia Pacific is anticipated to create lucrative opportunity for the demand of turbomachinery control system owing to the increasing industrialization and largest energy-consuming region, worldwide.
High growth is seen in developing nations such as China, and India which expected to upsurge the market growth in the Asia Pacific region.
Latin America and Middle East & Africa showing less adoption in the global market, although estimated to contributing towards the growth of turbomachinery control system market.
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Global Turbomachinery Control System Market: Market Participants
Globally, the turbomachinery control system market is expected to be fragmented as the market several small to medium-sized companies which are competing with each other.
Established manufacturers involved in the turbomachinery control system focusing merger and acquisition strategy in order create dominance in the global market.
For instance, on 2nd July 2018, ABB Group completed its acquisition with GE industrial solutions and acquire GE’s electrification solution business. This acquisition increase growth opportunities of ABB’s in digital offering.
Some of the key players involved in the turbomachinery control system market include Honeywell Technology Solutions, Schneider Electric SE, Rockwell Automation Inc., Woodward Inc., ABB Group, Siemens AG, Emerson Electric Co., Voith AG, General Electric, MAN Diesel & Turbo SE, Technics Systems Solution, Turbomachinery Control Solutions LLC, Tri-sen Systems Corporation, Stork, Elliot Group, among others.
The research report presents a comprehensive assessment of the turbomachinery control system market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The research report provides analysis and information according to turbomachinery control system market segments such as application and end use industry.
Based on the Application, the global turbomachinery control system market can be segmented into,
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- Generator Controls
- Compressor Controls
- Turbine Controls
- Others
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Based on the End-Use Industry, the global turbomachinery control system market can be segmented into,
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- Oil & Gas
- Chemical & Petrochemical
- Transportation
- Power Generation Sector
- Food and Beverages
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