Please Wait.....
Report
North America Turbomachinery Control Systems Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 110 Pages I Mordor Intelligence
The North American turbomachinery control systems market is expected to witness a CAGR of more than 5% during the forecast period, 2022-2027. The COVID-19 pandemic led to various projects being delayed due to the economic slowdown and financial losses incurred to the companies in 2020. The oil and gas projects have been majorly affected due to the high financial burden on the operator amid the fluctuating oil prices resulting from the lower demand. Factors such as shifting from conventional fuel-based power generation to gas-based power generation and increasing shift in focus toward natural gas are expected to drive the demand for turbomachinery control systems in North America during the forecast period. However, the increasing prominence of renewable energy sources is expected to restrain the growth of the market during the forecast period.
Key Highlights
The power industry is expected to dominate the turbomachinery control systems market, owing to increasing power generation and consumption in the North American region. ?
The advancements in turbomachinery control systems technology with a special focus on gas expansion turbines used in LNG plants are expected to create several opportunities for the market in the coming years.
The United States is likely to be the largest market for turbomachinery control systems in the North American region during the forecast period.
North America Turbomachinery Control Systems Market Trends
Power Sector to Dominate the Market
In the power sector, turbomachinery control systems are used in equipment like turbines used for power generation and compressors that are used to provide consistent pressure required for the operation of pneumatic valves and actuators in the power plant. In traditional power generation systems (steam and gas), turbomachinery control systems play an integral part in enhancing the turbomachinery equipment's productivity and safety.
The demand for electricity is growing at a rapid rate on account of the surge in population and industrial expansion. Apart from that, the increasing investments in the power sector and power consumption that is likely to create huge demand for the expansion of power infrastructure in the near future.
The use of turbomachinery control systems has gained importance from the fact that conventional power generation technologies are facing increasing challenges from alternate sources of energy in terms of the cost of power generation. The use of turbomachinery control systems leads to efficiency improvement in the power generation process from conventional fuel, which is likely to be a big boost for the market during the forecast period.
The modernization of the grid to accommodate power flows, serve reliability needs, and meet future projected uses is leading to the incorporation of electronic intelligence capabilities for power control purposes and operations monitoring. The turbomachinery control systems play an essential role in this regard.
Therefore, owing to the above points, the power segment is expected to dominate the North American turbomachinery control systems market during the forecast period.
United States to Dominate the Market
The United States is one of the major markets for turbomachinery control systems. The major factors driving the demand are increasing conversion of coal-fired to gas-based power plants and growing unconventional gas exploration and production.
The United States remains the largest market for funding and commercializing innovative technologies, which already attracts many technology firms engaged in the power (including oil and gas) and chemical industries.
The US 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 leads 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.
The power industry in the United States is expected to witness a big change during the forecast period. Decommissioning of coal-fired plants is likely to pave the way for the adoption of gas-fired plants. Consequently, the transition in the energy mix from coal to natural gas is likely to result in the increasing deployment of gas turbines, thus, increasing the demand for turbine control systems.
As of 2020, the United States' generating capacity at natural gas-fired combined-cycle (NGCC) power plants totaled 483 gigawatts (GW), compared to 218 GW at coal-fired power plants. Total capacity for generating power in the United States across all types of natural gas-fired generating technologies surpassed coal as the primary capacity resource more than 15 years ago.
The country is also witnessing increasing natural gas production. In 2020, the United States gas production was around 88.25 billion cubic feet per day (Bcf/d), which is expected to increase further. Consequently, the increase in production of natural gas is likely to influence the demand for turbomachinery and, similarly, turbomachinery control systems.
Therefore, owing to the above points, the United States is expected to dominate the turbomachinery control systems market in the North American region during the forecast period.
North America Turbomachinery Control Systems Market Competitor Analysis
The North American turbomachinery control systems market is moderately fragmented. The key players in the market include ABB Ltd, Emerson Electric Co., Siemens Energy AG, Honeywell International Inc., and Rockwell Automation Inc.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Turbine Controls
5.1.2 Compressor Controls
5.2 End-use Industry
5.2.1 Power
5.2.2 Oil and Gas
5.2.3 Chemical
5.2.4 Metals and Mining
5.2.5 Other End-use Industries
5.3 Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Rest of North America
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ABB Ltd
6.3.2 Emerson Electric Co.
6.3.3 Siemens Energy AG
6.3.4 Honeywell International Inc.
6.3.5 Rockwell Automation Inc.
6.3.6 General Electric Company
6.3.7 Schneider Electric SE
6.3.8 Hollysys Automation Technologies Ltd
6.3.9 Yokogawa Electric Corporation
6.3.10 Control-Care BV
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security