The demand for turbine control systems is rapidly growing across the globe owing to various factors including the rising development of micro hydro projects and government initiatives to explore renewable sources of energy.
The global turbine control system market is projected to register a 4.98% CAGR during the forecast period, 2019–2025. In 2018, the global turbine control system market was dominated by Asia Pacific with a 27.4% share, followed by North America and Europe with shares of 25.8% and 20.6%, respectively.
The global turbine control system market has been segmented based on type, function, component, and region. Based on type, the global turbine control system market has been segmented into steam turbine control system, gas turbine control system, and others. The others segment held the largest share of 67.0% in the global turbine control system market in 2018. Others segment is expected to grow at the fastest rate during the forecast period with 5.23%.
Based on component, the global turbine control system market has been segmented into hardware and software. The software segment is expected to grow at a higher rate during the forecast period. In 2018, the Hardware segment held a 58.4% share of the global turbine control system market.
Based on function, the global turbine control system market has been segmented into speed control, temperature control, load control, pressure control, and others. In 2018, the speed control segment held a 33.6% share of the global turbine control system market. The speed control segment is expected to grow at the fastest rate during the forecast period with 5.30%.
Based on region, the global turbine control system market has been segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa. In 2018, Asia Pacific held a 27.4% share of the turbine control system market. Asia Pacific is expected to register the fastest growth rate during the forecast period.
