Power Plant Control System Market – Growth, Trends, and Forecasts (2020 – 2025)
The Power Plant Control System Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The power plant control system market is expected to grow at a CAGR of more than 3% over the period of 2020-2025.
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Top Leading Companies of Power Plant Control System Market are ABB Ltd, Emerson Electric Co., General Electric Company, Mitsubishi Hitachi Power Systems, Ltd., Honeywell International Inc., OMRON Corporation, Rockwell Automation, Schneider Electric SE, Siemens AG, Toshiba Corp, Yokogawa Electric Corporation, Endress+Hauser AG and others.
Key Market Trends:
Renewables Sector to Dominate the Market
– Renewable sector is expected to witness significant growth in the forecast period, owing to factors like rising electricity share of renewables in total electricity generation, an increasing number of utility size renewable projects, and increasing demand for clean energy.
– The global solar energy capacity grew by over 1300% from 41.54 GW in 2010 to 586.43 GW in 2019, and wind energy capacity grew by over 240% from 180.85 GW in 2010 to 622.7 GW in 2019. The majority of this capacity was added in the form of utility-scale wind and solar farms, all of which use power plant control systems.
– Another factor that has added to the growth of the renewable sector is the significant drop in the CAPEX required for setting up renewable projects like wind and solar projects. For example, the cost of solar photovoltaic (PV) modules have plummeted around 99% in the last four decades, and the costs are expected to continue to go down in the forecast period too, owing to advancement in solar panel production technologies, and mass production of solar panels, the same trend is witnessed in cost of wind turbines, which have dropped around 30-40% since 2009.
– Increasing demand for clean energy is one of the primary drivers for the renewable sector and, in turn, for the power plant control system in the sector. Electricity generation from renewable energy sources grew by around 14% from 2166.5 TWh in 2017 to 2480.4 TWh in 2018.
The regions are further sub-divided into:
-North America (NA) – US, Canada, and Mexico
-Europe (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of Europe
-Asia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APAC
-Latin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin America
-Middle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South Africa
Influence of the Power Plant Control System market report:
-Comprehensive assessment of all opportunities and risk in the Power Plant Control System market.
– Power Plant Control System market recent innovations and major events.
-Detailed study of business strategies for growth of the Power Plant Control System market-leading players.
-Conclusive study about the growth plot of Infrared Imaging market for forthcoming years.
-In-depth understanding of Power Plant Control System market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Power Plant Control System market.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Power Plant Control System Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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