Opportunities: Increasing adoption of digital solutions such as industrial internet of things, digital twin, and predictive maintenance
According to a new market research report, the global power plant control system market is projected to reach USD 10.2 billion by 2026 from an estimated USD 7.2 billion in 2021, at a CAGR of 7.3% during the forecast period. The growing need for zero downtime power supply solutions for critical power applications is the major driver of the rotary or power plant control system market. The advantages of rotary UPS such as high efficiency, fewer space requirements, and low lifetime costs are expected to further drive the demand. Increasing data center investments are expected to be the single biggest contributing factor to the growth of power plant control system market during the forecast period.
A few major players with a large global presence dominate the power plant control system market along with a large number of local players. The leading players in the power plant control system market include Siemens Energy (Germany), ABB (Switzerland), Emerson (US), Rockwell (US), and GE (US).
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Renewable segment is expected to capture the major share of the power plant control system market by application
Datacenter segment by application is expected to be the largest segment during the forecast period. The demand for data centers is continuously increasing, and the amount of energy consumed by them has also surged. This is due to the increased load of IT devices that are installed in these data centers. The continuity of power supply is critical for the effective functioning of IT loads in data centers and power outages in them are costly. Investments in large hyperscale data centers have increased significantly to meet the increasing data demand. These drivers are expected to play a key role in the growth of the rotary UPS market for data center applications.
This research report categorizes the power plant control system market by plant type, solution, application, component, and region.
by plant type:
- Coal
- Natural Gas
- Oil
- Hydroelectric
- Nuclear
- Renewable
- Solar
- Wind
- Biofuels
by solution:
- SCADA
- DCS
- Programmable Controllers
- Others
by application:
- Boiler & Auxiliaries Control
- Turbine & Auxiliaries Control
- Generator Excitation & Electrical Control
- Others
by region:
- Asia Pacific
- North America
- Europe
- Middle East
- Africa
- South America
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Asia Pacific is expected to be the fastest-growing segment of the global power plant control system market
The power plant control system market in Asia Pacific, led by China, is expected to grow at the highest CAGR during the forecast period. Continued investments in fossil fuel power plants, especially in China, India, and Southeast Asia, along with the increased renewable power plant investments in countries such as China, India, Japan, and South Korea, are expected to drive the demand for power plant control systems in the region.
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