The global power plant control system market is projected to reach a market size of USD 6.22 Billion by 2022, growing at a CAGR of 5.78%, from an estimated USD 4.70 Billion in 2017.
This growth can be attributed to the increasing emphasis on alternative energy production across the globe, improving and evolving technologies, increase in the buoyant power sector and augmented power generation capacities worldwide, and government initiatives toward industrial automation.
The report segments the power plant control system market, by solution, into SCADA, DCS, PLC, Plant Asset Management (PAM), and Plant Lifecycle Management (PLM). The DCS segment is expected to have to largest market share by 2022. The increasing capacity of coal-based thermal power plants in Asia Pacific, global capacity of nuclear power plants, and large hydroelectric plants in South America is driving the market for DCS in the power plant control system market.
The power plant control system market, by plant type, is segmented into coal, nuclear, hydroelectric, natural gas, oil, and renewable power plants. The renewable segment is estimated to be the fastest growing market for power plant control systems between 2017 and 2022. The renewable segment consists of commercial-scale wind, solar, and biofuel power plants where control systems are mostly installed. This segment is also expected to hold the largest market share owing to the global investment in the renewable energy sector and rise in automation of the renewable energy power plants in Europe, Asia Pacific, and North America.
The power plant control system market, by application, is segmented into boiler and auxiliaries control, turbine and auxiliaries control, generator excitation and electrical control, and others. The generator excitation and electrical control segment is estimated to be the fastest growing segment for power plant control systems, from 2017 to 2022. This market is driven by the increase in alternative energy programs in Europe, Asia Pacific, and North America.
High capital investments and limited re-investments could act as restraints for the power plant control system market. The leading players in the power plant control system market include ABB (Switzerland), GE (US), Siemens (Germany), Emerson (US) and Honeywell (US). Contracts & agreements was the most commonly adopted strategy by the top players. This was followed by new product launches, expansions and investments, and mergers & acquisitions.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Power Plant Control System Market, By Solution
7 Power Plant Control System Market, By Application
8 Power Plant Control System Market, By Component
9 Power Plant Control System Market, By Plant Type
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