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Turbomachinery Control System Market Trends, Industry | 2031
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Turbomachinery Control System Market Trends, Industry | 2031

Segments - Turbomachinery Control System Market by Applications (Gas Turbine Controls, Turbine Control, Steam Turbine Control, and Compressor Turbine), End users (Chemicals, Oil & Gas, Metal & Mining, Power, and Others), Service Types (Retofit Turbomachinery Control System & Ancillary Services and New Turbomachinery Control System), Regions (North America, Asia Pacific, South America, Middle East and Africa, Europe)- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

https://growthmarketreports.com/Raksha
Author : Raksha Sharma
https://growthmarketreports.com/Vaibhav
Fact-checked by : V. Chandola
https://growthmarketreports.com/Rucha
Editor : Rucha Phatak

Upcoming | Report ID :CM-3813 | 4.9 Rating | 64 Reviews | 172 Pages | Format : PDF Excel PPT

Report Description


The Global Turbomachinery Control System Market size was valued at USD 19 Billion in 2022 and is expected to surpass USD 28.63 Billion by 2031, expanding at a CAGR of 4.66% during the forecast period, 2023 – 2031. The growth of market is attributed to inclination and focus towards natural gas and rapid adoption of automation technologies within the industrial sector.

The oil & gas industry is considered to have a wide range of application for turbomachinery equipment such as compressors and turbines. The massive availability of natural gas accompanied by growing application usage across end-user industries is anticipated to impel the market in the coming years.

Turbomachinery Control System Market Outlook

The primary usage of turbo machinery control system is power generation, process facilities, and upstream oil & gases, turbo machinery often require the most important capital investment. Overall productions and manufacturing plants security is directly related to TMC, due to planned outages and failures leads to massive loss of capital in terms of repairs and loss of production, thus enhanced TMC is a smart investment as it improves the overall production yield and increases profit margin.

Turbo machinery control system offers dominance towards the speed of gas, steam, & hydro turbines. It also ensures the security of compressors, and load balancing between generators or compressors to provide the most efficient usage of resources.

However, market dynamics are shifting towards renewable source of energy, coupled with government of several developed economies are changing their preference towards cleaner source of energy with an objective to reduce the carbon emission, as this trend act as the driving factor for the consumers to shift towards renewable source based energy, leads to reduction in investment and intern reduced the deployment of turbo machinery, these factors can act as an obstruction for the markets growth.

TMC indirectly keeps the retrofitting services alive in the market, TMC is bound to have a retrofit as the average life span is considered to be 12-15 years which is estimated to create opportunities for the retrofitting services market.

  • Increasing adoption of automation technologies in the industrial sector is expected to boost the market in the coming years.

  • Rising shift in focus towards natural gas is estimated to propel the market during the forecast period.

  • Growing awareness towards the wide range of application for turbo machinery in oil & gas sector is anticipated to spur the market during the projected period,

  • Increasing preference for renewable source of energy resulting in investment loss for turbo machinery control system act as one of the factor that hinders the market growth in the coming years.

  • Growing government initiative and rules and regulation towards adoption of clean energy source and reduce carbon emission possess a challenge that can hamper the market progress during the forecast period.

Scope of Turbomachinery Control System Market

The report on global turbo machinery control system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Turbo machinery control system Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Applications (Gas Turbine Controls, Turbine Control, Steam Turbine Control, Compressor Turbine), End user Industries (Chemicals, Oil and Gas, Metal and Mining, Power, and Other End user Industries), Service Types (Retofit Turbomachinery Control System and Ancillary Services, and New Turbomachinery Control System)

Regional Scope

North America, Asia Pacific, South America, Middle East and Africa, Europe.

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Emerson Electric Co.; Siemens AG; General Electric Co.; ABB Ltd; Rockwell Automation Inc.

 

Turbomachinery Control System Market Segment Insights

The steam turbine control segment is expected to hold major share of the market

Based on applications, the market is segregated gas turbine controls, turbine control, steam turbine control, and compressor turbine. The steam turbine control segment is expected to hold major share of the market in the coming years due to steam turbine accounts a superior reliability, predominantly in the application where the high powers are required on a constant basis, also these steam turbines are actually higher than that of reciprocating engines as it provides high power to weight over reciprocating engines, which are considered to be lower mass flow rate as compared to gas turbines.

The oil & gas segment is estimated to account key share of the market

On the basis of end users, the market is fragmented into chemicals, oil & gas, metal & mining, power, and others. The oil & gas segment is estimated to account key share of the market during the forecast period owing to growing demand of gas across the globe, thus turbo machinery is compelled to increase the production of gas, rising demand for compressors & turbines, and fall in crude oil prices open the new horizon for the downstream industries.

Turbomachinery Control System Market End Users

The retofit turbomachinery control system and ancillary services is anticipated to exhibit high CAGR

Based on service types, the market is bifurcated into retofit turbomachinery control system & ancillary services and new turbomachinery control system. The retofit turbomachinery control system & ancillary services segment is anticipated to exhibit high CAGR during the projected period. Turbo machinery control system creates a constant market for retrofitting service sector as after every 12-15 years the machine is needed to be retrofitted with the fluctuation in crude oil prices and demand.

Asia pacific is expected to dominate the market

In the terms of regions, the market is classified as North America, Asia Pacific, South America, Middle East & Africa, and Europe. Asia pacific is expected to dominate the market in the coming years due to increasing investment and development of gas distribution infrastructure, increasing refining & petrochemical industry in developing countries such as India, along with the growing demand for energy and slowdown of energy production from coal in China accompanied by growth in chemical industry and awareness towards usage of natural source based power.

Turbomachinery Control System Market Regions

Segments

The global turbo machinery control system market has been bifurcated on the basis of

Applications

  • Gas Turbine Controls
  • Turbine Control
  • Steam Turbine Control
  • Compressor Turbine

End users

  • Chemicals
  • Oil and Gas
  • Metal and Mining
  • Power
  • Others

Service types

  • Retofit Turbomachinery Control System & Ancillary Services
  • New Turbomachinery Control System

Regions

  • North America
  • Asia Pacific
  • South America
  • Middle East and Africa
  • Europe.

Key players

Competitive Landscape

Key players competing in the global turbo machinery control system market include Emerson Electric Co.; Siemens AG; General Electric Co.; ABB Ltd; Rockwell Automation Inc.

Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

Turbomachinery Control System Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Turbomachinery Control System Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Turbomachinery Control System Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Turbomachinery Control System Market - Supply Chain
  4.5. Global Turbomachinery Control System Market Forecast
     4.5.1. Turbomachinery Control System Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Turbomachinery Control System Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Turbomachinery Control System Market Absolute $ Opportunity
5. Global Turbomachinery Control System Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Turbomachinery Control System Market Size and Volume Forecast by Applications
     5.3.1. Gas Turbine Controls
     5.3.2. Turbine Control
     5.3.3. Steam Turbine Control
     5.3.4. Compressor Turbine
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Turbomachinery Control System Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Turbomachinery Control System Market Size and Volume Forecast by End Users
     6.3.1. Chemicals
     6.3.2. Oil and Gas
     6.3.3. Metal and Mining
     6.3.4. Power
     6.3.5. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Turbomachinery Control System Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Turbomachinery Control System Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Turbomachinery Control System Demand Share Forecast, 2019-2026
8. North America Turbomachinery Control System Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Turbomachinery Control System Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Turbomachinery Control System Market Size and Volume Forecast by Applications
     8.4.1. Gas Turbine Controls
     8.4.2. Turbine Control
     8.4.3. Steam Turbine Control
     8.4.4. Compressor Turbine
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Turbomachinery Control System Market Size and Volume Forecast by End Users
     8.7.1. Chemicals
     8.7.2. Oil and Gas
     8.7.3. Metal and Mining
     8.7.4. Power
     8.7.5. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Turbomachinery Control System Demand Share Forecast, 2019-2026
9. Latin America Turbomachinery Control System Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Turbomachinery Control System Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Turbomachinery Control System Market Size and Volume Forecast by Applications
     9.4.1. Gas Turbine Controls
     9.4.2. Turbine Control
     9.4.3. Steam Turbine Control
     9.4.4. Compressor Turbine
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Turbomachinery Control System Market Size and Volume Forecast by End Users
     9.7.1. Chemicals
     9.7.2. Oil and Gas
     9.7.3. Metal and Mining
     9.7.4. Power
     9.7.5. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Turbomachinery Control System Demand Share Forecast, 2019-2026
10. Europe Turbomachinery Control System Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Turbomachinery Control System Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Turbomachinery Control System Market Size and Volume Forecast by Applications
     10.4.1. Gas Turbine Controls
     10.4.2. Turbine Control
     10.4.3. Steam Turbine Control
     10.4.4. Compressor Turbine
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Turbomachinery Control System Market Size and Volume Forecast by End Users
     10.7.1. Chemicals
     10.7.2. Oil and Gas
     10.7.3. Metal and Mining
     10.7.4. Power
     10.7.5. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Turbomachinery Control System Demand Share Forecast, 2019-2026
11. Asia Pacific Turbomachinery Control System Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Turbomachinery Control System Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Turbomachinery Control System Market Size and Volume Forecast by Applications
     11.4.1. Gas Turbine Controls
     11.4.2. Turbine Control
     11.4.3. Steam Turbine Control
     11.4.4. Compressor Turbine
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Turbomachinery Control System Market Size and Volume Forecast by End Users
     11.7.1. Chemicals
     11.7.2. Oil and Gas
     11.7.3. Metal and Mining
     11.7.4. Power
     11.7.5. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Turbomachinery Control System Demand Share Forecast, 2019-2026
12. Middle East & Africa Turbomachinery Control System Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Turbomachinery Control System Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Turbomachinery Control System Market Size and Volume Forecast by Applications
     12.4.1. Gas Turbine Controls
     12.4.2. Turbine Control
     12.4.3. Steam Turbine Control
     12.4.4. Compressor Turbine
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Turbomachinery Control System Market Size and Volume Forecast by End Users
     12.7.1. Chemicals
     12.7.2. Oil and Gas
     12.7.3. Metal and Mining
     12.7.4. Power
     12.7.5. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Turbomachinery Control System Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Turbomachinery Control System Market: Market Share Analysis
  13.2. Turbomachinery Control System Distributors and Customers
  13.3. Turbomachinery Control System Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Emerson Electric Co.
     13.4.2. Siemens AG
     13.4.3. General Electric Co.
     13.4.4. ABB Ltd
     13.4.5. Rockwell Automation Insc.

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