Power Plant Control System Market Projected to Reach $10.4 Billion, Growing at 3.6% CAGR from 2021 to 2030
WILMINGTON, DE , UNITED STATES, July 1, 2024 /EINPresswire.com/ -- Global power plant control system market size was valued at $7.3 billion in 2020, and is projected to reach $10.4 billion by 2030, growing at a CAGR of 3.6% from 2020 to 2030.
Power plant control system are the system used to regulate, monitor and control the power plants. Power plant control system can be categorized on the basis of system which include automatic and manual. Automatic operation or automatic control system means that electrical devices are part of automatic control sequences executed in an automation controller. This requirement applies only for those devices that interact with process control. In addition, software such as SCADA, DCS are the part of automatic control system. Moreover, manual control system includes excitation system, switchgears, and others.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-sample/A14518
Furthermore, control systems play an important role in power station such as APC that controls the amount of fuel, water, and air supplied to the boiler, and SQC that controls the start and stop of the plant. Power plant control system are also used in the oil & gas industry, heavy industries and many other mechanical industries.
The rapid expansion of cities led to an increase in the demand for pipeline natural gas (PNG) which increased the demand for SCADA thereby acting as the major driving factor for the market. Furthermore, rise in population led to an increase in the demand for electricity which increased the demand for power plant control system market. Moreover, rapidly increasing industrialization also led increase in the pulp & paper mills, sugar mill, power plants, power grids thereby increasing the demand for power plant control system market throughout the forecast period.
The setting up of power plants and sub-stations requires huge capital investment for the installation of equipment and software, as well as training. Furthermore, some of the plants are installed in remote locations for maintaining and controlling the systems, as well as for gathering real-time data. However, huge capital investment and special training act as the restraining factors for the market growth.
The power plant control system industry is segmented on the basis of component, plant type, application, solution, and region.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐๐ง ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/d841e649c8f3ea393a3c9a1139d7992f
On the basis of component, the power plant control system market is categorized into hardware, software and services. On the basis of plant type, it is divided into coal, oil, natural gas, nuclear, hydroelectric, renewables and others. On the basis of application, it is categorized into boiler & auxiliariesโ control, generator excitation & electrical control, turbine & auxiliaries control system and others). On the basis of solution, it is categorized into supervisory control & data acquisition, plant asset management, distributed control system, programmable logic controller, and plant lifecycle management. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐๐ฒ ๐ ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ญ๐ฎ๐๐ฒ:
By region, Asia-Pacific accounted for the largest market share in 2020 in terms of volume
As per global power plant control system market analysis, by component, the hardware segment accounted for the largest market share in 2020.
On the basis of solution, the Distributed Control System (DCS) segment holds the largest market share in 2020 in terms of value.
On the basis of application, the turbine & auxiliaries control system segment is anticipated to witness the highest market share in terms of revenue during the forecast period.
On the basis of plant type, the coal segment is anticipated to witness the highest market share in terms of revenue during the forecast period.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/A14518
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
Emerson
Mitsubishi Electric
Siemens
Hitachi
General Electric
Rockwell
Omron
ABB
Endress+Hauser
Schneider Electric
David Correa
Allied Market Research
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