Global Power Plant Control System Market To Power Swiftly And Reach USD 7.95 Billion By 2026

Global Power Plant Control System market is likely to accrue earnings worth approximately 7.95 (USD Billion) by 2025 and is set to record a CAGR of about 6% over the period from 2020 to 2026.

New York, United States - October 29, 2020 /MarketersMedia/ —

As per Zion Market Research, the global market for power plant control system is expected to cross USD 7.95 billion by 2026, expanding at a 6% CAGR over the forecast timeline. This expansion can be credited to the growing focus on alternate energy creation all over the world, evolving & enhancing techs, rise in the buoyant energy industry & augmented power creation abilities all over the world, and government programs toward automation of industry. The major players in the market comprise Emerson, ABB, Siemens, GE, and Honeywell.

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The DCS Category Is Predicted To Have The Biggest Share Of The Market By 2025

On the basis of solution, the market is divided into DCS, SCADA, PAM (Plant Asset Management), PLC, and PLM (Plant Lifecycle Management). The DCS category is predicted to have the biggest share of the market by 2025. The rising ability of coal-supported thermal power plants in Asia Pacific, worldwide capacity of nuclear energy plants, and huge South American hydroelectric plants are powering the global market.

The Renewable Section Is Predicted To Be The Quickest Developing Segment For Global Market In The Coming Period

Based on plant type, the power plant control system market is divided into nuclear, coal, natural gas, hydroelectric, renewable power plants, and oil. The renewable section is predicted to be the quickest developing segment for global market in the coming period. The renewable section comprises of commercial-scale solar, wind, and biofuel power plants where control systems are set up mostly. This section is also predicted to have the biggest share of the market due to the global spending in the renewable power industry and increase in automation of the renewable power plants in Asia Pacific, Europe, and North America.

The Asia Pacific Region Is Predicted To Be The Biggest In The Market In The Coming Years

The global market for power plant control system has been divided into North America, Asia Pacific, Europe, the Middle East, South America, and Africa. The Asia Pacific region is predicted to be the biggest in the market in the coming years. Factors such as elevated power usage, increasing influx in the energy mix for renewable sources, and modernization, renovation, and upgradation of old power plants are expected to power the market in Asia Pacific.

The global power plant control system market is segmented as follows:

By Solution

Supervisory Control and Data Acquisition (SCADA)
Programmable Logic Controller (PLC)
Distributed Control System (DCS)
Product Lifecycle Management (PLM)
Plant Asset Management (PAM)

By Component

Hardware
Controller
Input Output Devices
Workstations
Networking Hardware
Software
Services

By Application

Boiler and Auxiliaries Control
Turbine and Auxiliaries Control
Generator Excitation and Electrical Control
Others (Rod Control, Reactor Control, Balance of Plant Control)

By Plant Type

Coal
Natural Gas
Hydroelectric
Nuclear
Oil
Renewables
Wind
Solar
BioFuels

By Region

North America
The U.S.
Canada

Europe
France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America
Brazil
Mexico
Rest of Latin America

Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

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Source URL: https://marketersmedia.com/global-power-plant-control-system-market-to-power-swiftly-and-reach-usd-795-billion-by-2026/88983324

Source: MarketersMedia

Release ID: 88983324

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