Global Turbine Control System Market Growth Opportunities Report 2023 - Increasing Emph... - 0 views
-
Almira Coyne on 09 Feb 21The 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.