Market Study Report adds new research on Power Plant Control System market, which is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, Power Plant Control System market also includes an in-depth study of the industry’s competitive scenario.
Global Power Plant Control System Market to reach USD 10.97 billion by 2027.Global Power Plant Control System Market is valued at approximately USD 6.7 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.3% over the forecast period 2021-2027.
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Growing data centers investment is a significant factor propelling the power plant control system market forward. In addition to that, rising need for zero downtime power supply solutions for critical power end-uses coupled with the advantages of rotary UPS such as low costs, higher efficiency, and fewer space requirements is expected to contribute to the market growth.
Strategic acquisitions by market players will also influence the market positively. For instance, in August 2020, Schneider Electric partnered with Temasek to acquire Larsen and Toubro’s Electrical and Automation business division. Schneider owns a 65% share of the acquired business sector and the rest by Temasek. This acquisition is aimed to strengthen low-voltage offerings and the industrial automation business and to help Schneider Electric to grow in the Middle East, Africa, and East Asia as L&T offers strong R&D and engineering capabilities. Furthermore, the rising adoption of digital solutions such as IoT and predictive maintenance will open up new growth opportunities for the market in future years. However, concerns regarding cyberattacks and lack of standardization in solutions may hamper the market growth.
The Asia Pacific is expected to emerge as the fastest growing region in the global power plant control market, with China significantly contributing to its growth. Growing investments in fossil fuel power plants and renewable power plants in the region are anticipated to drive the market growth.
Major market player included in this report are:
Yokogawa Electric Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Plant Type:
Boiler & Auxiliaries Control
Turbine & Auxiliaries Control
Generator Excitation & Electrical Control
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