Asia-Pacific Turbomachinery Control Systems Market Size

APAC Turbomachinery Control Systems Market Analysis

The Asia-Pacific turbomachinery control systems market is expected to witness a CAGR of more than 3% during the forecast period, 2022-2027. Due to the COVID-19 pandemic, the market studied witnessed a significant impact, owing to the subdued activities in the end-user industries. However, the market studied showed signs of recovering since early 2021, which was likely due to the economic rebound in the majority of the countries. Turbomachinery control systems play an essential role in improving the efficiency of the systems and industrial automation. Factors such as shifting from conventional fuel-based power generation to gas-based power generation are expected to increase the need for turbines and compressors, thus driving the demand for turbomachinery control systems in the Asia-Pacific region. On the other hand, integrating the turbomachinery equipment into a single control system is complex and requires high investment. Moreover, several countries are shifting aggressively towards cleaner energy to reduce carbon emission levels from conventional fossil fuels. Such a trend is likely to reduce the deployment of turbomachinery control systems, thus, restraining the growth of the market during the forecast period.

• The power generation industry is expected to hold the highest demand for turbomachinery control systems, followed by the oil & gas industry and other end-user industries.
• Increasing technology advancements and innovations enabling day-to-day operations are expected to offer lucrative opportunities to the market players in the future.
• With rapid industrialization, investments, and expansion, China is likely to be the largest market for turbomachinery control systems in the Asia-Pacific region during the forecast period.