US Turbine Control Systems Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.59 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Turbine Control Systems Market Analysis
The market for turbine control systems in the United States is expected to grow at a CAGR of more than 3.59% during 2020 - 2025. The market is driven by the retrofitting of aging power plants, such as coal-fired and gas-fired by installing control systems to enhance the efficiency of plants, which lead to life extension of aging infrastructure. Also, the development of new natural gas power plants and combined heat and power (CHP) plants are expected to further drive the turbine control systems market in the country. However, the increasing development of solar PV and wind power is anticipated to restrain the turbine control systems market in the United States in the coming years.
- The increasing challenge, from renewable power systems leading to increase requirement of enhancement in the efficiency associated with conventional power plants to make it more competitive, is likely to create business opportunities for turbine control systems in the United States in the coming years.
US Turbine Control Systems Market Trends
This section covers the major market trends shaping the US Turbine Control Systems Market according to our research experts:
Development of New Power Plants to Drive the Market Demand
- In the United States, the development of new power plants, especially, the natural gas power plants and combined heat and power (CHP) plants, are likely to provide a huge impetus to turbine control systems market in coming years.
- In Ohio, four power projects, with a combined capacity of around 4600 MW, are under development. The project includes two gas-fired, high-efficiency combustion gas turbines with two heat recovery steam generators and two steam turbines. The plants are expected to commence commercial operations by the second quarter of 2021.
- The natural gas supply in the United States has witnessed growth in recent years, which is likely to continue in coming years, riding on vast reserves of natural gas in the country. As per EIA, the marketed natural gas production in the year 2019 reached 99.15 bcfpd
- The total supply of natural gas in the country witnessed an increase of 12 percent, during the first half of 2018 in comparison to the first half of 2017. The increase in the supply of natural gas is leading to declining in its cost which, in turn, enhances the economic viability of gas-based power generation.
- During the past decade, the electric power sector has been retiring coal-fired generation plants while adding more natural gas generating capacity. In 2019, United States EIA estimated that 12.7 GW of coal-fired capacity in the United States had retired, equivalent to 5% of the total existing coal-fired capacity at the beginning of the year. An additional 5.8 GW of United States coal capacity is scheduled to retire in 2020, contributing to a forecast 13% decline in coal-fired generation this year. In contrast, EIA estimates that the electric power sector has added or plans to add 11.4 GW of capacity at natural gas combined-cycle power plants in 2019 and 2020. This transition from coal to gas has been considered to be one of the most important factor driving the turbine control systems market, as older coal plants retire and newer gas-based power plants starts to commission.
US Turbine Control Systems Industry Overview
The United States turbine control systems market is highly fragmented. Some of the major companies include Siemens AG, Emerson Electric Company, General Electric Company, ABB Ltd, and Rockwell Automation.
US Turbine Control Systems Market Leaders
Siemens AG
Emerson Electric Company
General Electric Company
ABB Ltd
Rockwell Automation
*Disclaimer: Major Players sorted in no particular order
US Turbine Control Systems Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD million, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 PESTLE Analysis
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5. COMPETITIVE LANDSCAPE
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5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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5.2 Strategies Adopted by Leading Players
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5.3 Key Company Profiles
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5.3.1 Siemens AG
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5.3.2 Emerson Electric Co.
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5.3.3 General Electric Company
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5.3.4 ABB Ltd
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5.3.5 Rockwell Automation Inc.
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6. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Turbine Control Systems Industry Segmentation
The United States turbine control systems market report include:
US Turbine Control Systems Market Research FAQs
What is the current United States Turbine Control Systems Market size?
The United States Turbine Control Systems Market is projected to register a CAGR of greater than 3.59% during the forecast period (2024-2029)
Who are the key players in United States Turbine Control Systems Market?
Siemens AG, Emerson Electric Company, General Electric Company, ABB Ltd and Rockwell Automation are the major companies operating in the United States Turbine Control Systems Market.
What years does this United States Turbine Control Systems Market cover?
The report covers the United States Turbine Control Systems Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Turbine Control Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Turbine Control Systems Industry Report
Statistics for the 2024 United States Turbine Control Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Turbine Control Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
