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North America Turbomachinery Control Systems Market - Growth Trends and Forecasts (2020 - 2025)

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North America turbomachinery control systems market is expected to reach $XX billion in 2020 from $0.67 billion in 2014. It is estimated that the market would grow at a CAGR of XX percent during this period.

Turbomachinery equipment is often a plant’s most critical capital investment and forms an important cog in the industry not only to attain efficiency but also to enhance productivity. Turbomachinery control systems provide tighter control over the speed of steam, hydro and gas turbines while ensuring over-speed protection. It also offers surge protection for compressors, alarm management capabilities, and load balancing between compressors or generators to allow most efficient use of resources. Overall production and plant safety are directly tied to performance of turbomachinery controls because unplanned outages or failures incur significant cost in terms of production loss and repair. As a result, turbomachinery control systems are vital in the process and they are the central nervous system of a turbine/compressor.

In North America, power sector occupies bulk of the demand, followed by chemicals and oil & gas sector respectively.

With innovations, like hydraulic fracturing and directional drilling, the shale plays of North America have become economically viable, thereby increasing the market for compressor controls in oil & gas sector.

Chemicals industry has contributed significantly to the demand of compressor controls. On the  other hand, availability of cheap shale gas has led to the increasing usage of gas turbines in power sector, which has resulted in significant revenues for turbine controls and compressor controls from this sector too.

This report comprehensively analyzes the North America Turbomachinery control systems market by segmenting it based on countries, application and Markets served. Key drivers and restraints that are effecting the growth of this market are discussed in detail. The study also elucidates on competitive landscape and key market players.

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