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The turbine control system market is expected to grow from an estimated USD 15.13 Billion in 2018 to USD 19.00 Billion by 2023, registering a CAGR of 4.66% during the forecast period. This growth is primarily due to the increasing emphasis on growth of wind power generation, and increase in operational productivity of the turbines, in turn improving the efficiency of the power plant. Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=154007695 Speed control segment is expected to hold the largest share of the turbine control system market, by function during the forecast period The speed control segment led the turbine control system market in 2017 and is projected to dominate the market during the forecast period. Speed control segment comprises of speed limiting and acceleration functions. Speed control is generally preferred in gas turbines, wind turbines, and steam turbines. Turbines require precise speed control to provide high-quality control accuracy and improved machinery protection. The rise in the adoption of wind generation across the world is one of the major drivers of speed control segment. Software segment is expected to be the fastest-growing segment of the turbine control system market Software is expected to hold the largest market share during the forecast period from 2018 to 2023. Software segment includes IT applications such as advanced process control systems, digital synchronization, process optimization and process safety solutions, and remote view software program among others. It provides a common platform for devices to connect and operate. North America is expected to be the fastest growing region for software segment during the forecast period.

The CHP market size will grow to USD 35.2 billion by 2026 (forecast year) from USD 26.6 billion in 2021 (estimated year), at a CAGR of 5.8% during the forecast period. Combined heat and power (CHP) is an energy-efficient technology that generates electricity and captures the heat that would otherwise be wasted to provide useful thermal energy, such as steam or hot water. This steam or hot water, in turn, can be used for heating, cooling, and other domestic and industrial processes. The conventional method of producing usable heat and power separately has a typical combined efficiency of 45%, where CHP systems can operate at levels as high as 80%. CHP can be implemented for different types of prime movers, such as gas turbines, steam turbines, reciprocating engines, fuel cells, and microturbines. CHP is also called cogeneration, and it can be used in an individual facility/building or a district energy/utility resource. The technology is typically employed at facilities where there is a need for electricity and thermal energy. It provides benefits such as a reduction in dependency on grid support due to on-site electricity generation, enhanced reliability, reduced costs of energy and initial setup, increased resiliency against power disruption, and reduction in harmful emissions. Critical electrical and thermal loads can be handled by CHP systems during grid power outages. Micro turbines are a type of combustion turbine that produces both heat and electricity on a relatively small scale.

Steam Turbine Market Size, Share Analysis - Industry Report 2017-2026

Steam Turbine Market

The global turbine control system market was valued at USD 14.48 Billion in 2017 and is projected to reach USD 19.00 Billion by 2023, at a CAGR of 4.66% during the forecast period. Turbine Control System Market by Component (Sensors, HMI, Controllers, Software), Type (Steam, Gas), Function (Speed Control, Load Control, Temperature Control, Pressure Control), and Region (Asia Pacific, North America, Europe)

The report "Turbine Control System Market by Component (Sensors, HMI, Controllers, Software), Type (Steam, Gas), Function (Speed Control, Load Control, Temperature Control, Pressure Control), and Region (Asia Pacific, North America, Europe) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from an estimated USD 15.13 Billion in 2018 to USD 19.00 Billion by 2023, registering a CAGR of 4.66% during the forecast period. This growth is primarily due to the increasing emphasis on growth of wind power generation, and increase in operational productivity of the turbines, in turn improving the efficiency of the power plant.

The global CHP market is estimated to reach USD 20.69 Billion in 2018 and is projected to reach USD 27.01 Billion by 2023, at a CAGR of 5.48%, during the forecast period. The market is set to grow due to the increasing demand for energy efficiency and government incentives and programs to promote CHP. Browse 83 market data Tables and 36 Figures spread through 143 Pages and in-depth TOC on "Combined Heat & Power Market - Global Forecast to 2023" Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=26572447 The Above 300 MW segment is expected to hold the largest share of the combined heat & power market, by capacity, during the forecast period. The Above 300 MW segment consists of large coal, nuclear, or natural gas fired power plants, with gas turbines and steam turbines as the prime movers. The segment caters mainly to the utilities, district heating & cooling end-users. The segment is expected to be driven by the rising adoption of natural gas fired power generation in the Asia Pacific region, particularly in China and South Korea. The phasing out of coal-based power generation has given rise to large-scale natural gas-fired cogeneration plants. The rapid demand for heat and steam in industries and requirement of municipal district heating & cooling is driving the growth in this segment. The shale gas boom in North America is another driving factor for growth in this segment, with utility-scale natural gas fired power plants being set up in the region.

According to a research report "Synchronous Generator Market by Prime Mover (Steam turbine, Gas turbines), Speed ( 1,500 RPM, 3,000 RPM), Power Rating (2-5 MVA, 5-10 MVA, 10-20 MVA, 20-30 MVA, & 30-50 MVA), End User (Renewable Power Generation) & Region - Global Forecast to 2028″ published by MarketsandMarkets, the synchronous generator market size is estimated to be USD 4.7 billion by 2023 and is projected to reach USD 5.9 billion by 2028, at a CAGR of 4.6%. A synchronous generator, also called an AC generator or alternator, is an electromechanical energy conversion device that converts mechanical energy from sources such as engines and turbines into electrical energy in the form of alternating current (AC). It is called an alternator as it produces alternating current electricity, and a synchronous generator because it is necessarily driven at synchronous speed to generate electricity at the desired frequency.

According to the new market research report "Combined Heat and Power Market by Capacity (300 MW), Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine, and Others (Stirling Engine System and Combined Cycle)), Fuel(Coal, Natural Gas, Biogas/Biomass, Nuclear, Diesel, and Others (Biodiesel and Geothermal)), End User(Residential, Commercial, Industrial, Utilities), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Combined Heat and Power Market size will grow to USD 35.2 billion by 2026 (forecast year) from USD 26.6 billion in 2021 (estimated year), at a CAGR of 5.8% during the forecast period.

According to a research report "Combined Heat and Power Market by Prime Mover (Gas Turbine, Steam Turbine, Reciprocating Engine, Fuel Cell, Microturbine), Capacity (Up to 10 MW, 10-150 MW, 151-300 MW, Above 300 MW), Fuel, End User and Region - Global Forecast to 2029″, the Combined heat and power market is projected to reach USD 39.2 billion by 2029 from an estimated USD 30.4 billion in 2024, at a CAGR of 5.2% during the forecast period. The demand for combined heat and power (CHP) is growing due to its efficiency in generating electricity and capturing waste heat for heating or cooling purposes, reducing energy costs and emissions. It offers benefits like increased energy efficiency, lower operational costs, and enhanced grid resilience. CHP systems are used in various sectors including industrial facilities, commercial buildings, hospitals, universities, and residential complexes to meet energy needs sustainably.

Bharat Book Bureau Provides the Trending Market Research Report on "Indian Combined Heat & Power System Market" under Chemical & Materials category. The Indian Combined Heat & Power System Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, competitive intelligence and industry reports. According to "India Combined Heat & Power System Market By Prime Mover, By Capacity, By End Use, Competition Forecast & Opportunities, 2013-2023" combined heat & power system market is projected to grow to nearly $ 161 million by 2023. Growing government initiatives for cogeneration production in form of incentives and subsidies, technological advancements aimed at lowering the cost of combined heat & power (CHP) systems and increasing in-house energy demand from industrial and commercial sectors are the key factors expected to fuel the market in the coming years Request a free sample copy Combined Heat & Power System of Market Report @ https://www.bharatbook.com/MarketReports/Sample/Reports/1275034

The report "Variable Speed Generator Market by Type (Permanent Magnet, Doubly Fed Induction, Self-Excitation Induction, Wound Rotor Induction), Prime Mover (Wind, Hydro, Steam & Gas Turbine, Ic Engine), Technology, Power, End-User, Region - Global Forecast to 2022", published by MarketsandMarkets™, the global market is projected to reach USD 8.36 billion by 2022. The Variable Speed Generator Market is expected to grow from an estimated USD 5.79 billion in 2017 to USD 8.36 billion by 2022, registering a CAGR of 7.63% during the forecast period. This growth is primarily due to the increasing emphasis on alternative energy production, increasing government mandates over energy efficiency, and growing industrialization and urbanization.