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Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Size (2024 - 2029)

The turbomachinery control systems, retrofitting, and ancillary services market is anticipated to experience growth, driven by the increasing adoption of automation technologies and new power generation projects. Despite the initial impact of the COVID-19 pandemic, which slowed down market expansion due to reduced power demand, the market has shown recovery, particularly in turbine control systems for new power plants. The shift towards renewable energy sources has tempered investment in traditional turbomachinery systems, yet advancements in technology, especially in gas expansion turbines for LNG plants, present future opportunities. The Asia-Pacific region is projected to lead the market, supported by the economic growth of countries like India and China, a robust chemical industry, and a competitive manufacturing sector.

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Market Size of Turbomachinery Control Systems, Retrofitting, and Ancillary Services Industry

Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
CAGR 2.94 %
Fastest Growing Market Europe
Largest Market Asia Pacific
Market Concentration Low

Major Players

Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

Turbomachinery Control Systems, Retrofitting, & Ancillary Services Market Analysis

The turbomachinery control system, retrofitting, and ancillary system market is expected to grow with a CAGR of around 2.94% during the forecast period. The COVID-19 pandemic affected the market's growth due to the financial losses incurred by the power companies because of low power demand, which led to less upcoming projects for power generation. However, the situation has rebounded since 2021, particularly for the turbine control systems, which were heavily deployed in new power plants.

The growing adoption of automation technologies in the industrial sector and the new power generation projects are expected to create a huge demand for turbomachinery control systems, retrofitting, and ancillary services during the forecast period. However, the constantly increasing preference for renewable energy sources resulted in a reduction in the investment and demand for turbomachinery control systems in recent years.

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 future. Asia-Pacific is expected to dominate the market studied due to factors such as the growing economies of India and China, the presence of a large chemical industry, low labor wages, and a growing manufacturing sector.

Turbomachinery Control Systems, Retrofitting, & Ancillary Services Industry Segmentation

Turbomachinery control systems are integrated control systems for turbines and compressors. They are used in power generation, oil and gas, and process facilities. The retrofitting services refer to the replacement or upgradation of the existing turbomachinery in the plant, while the ancillary services refer to the services that ensure a reliable power supply from the power generation point to the consumers, like voltage regulation, frequency regulation, etc. 

The turbomachinery control systems, retrofitting, and ancillary services market is segmented by application, end-user industry, and service type. The report also covers the market size and forecasts across major countries. For each segment, the market sizing and forecasts have been done based on revenue (in USD billion).

By Application
Turbine Controls
Steam Turbine Controls
Gas Turbine Controls
Compressor Controls
By End-user Industry
Power
Oil and Gas
Chemical
Metals and Mining
Other End-user Industries
By Service Type
New Turbomachinery Control System
Retrofit Turbomachinery Control System and Ancillary Services
By Geography
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Size Summary

The turbomachinery control systems, retrofitting, and ancillary services market is poised for growth, driven by the increasing adoption of automation technologies and new power generation projects. Despite the initial setbacks caused by the COVID-19 pandemic, which led to reduced power demand and fewer projects, the market has rebounded, particularly in turbine control systems for new power plants. The market is experiencing a shift due to the rising preference for renewable energy sources, which has impacted investment levels in turbomachinery systems. However, advancements in technology, especially in gas expansion turbines for LNG plants, are expected to create new opportunities. The Asia-Pacific region is anticipated to lead the market, supported by the economic growth of countries like India and China, a robust chemical industry, and a burgeoning manufacturing sector.

The demand for electricity is on the rise, fueled by population growth and industrial expansion, which is expected to drive the need for expanded power infrastructure. The electrification of the transportation sector and increasing industrial activities are further contributing to this demand. Governments worldwide are setting ambitious targets to phase out fossil fuel vehicles, boosting the adoption of electric vehicles and, consequently, the demand for efficient power generation solutions. Turbomachinery control systems play a crucial role in enhancing the efficiency of conventional power generation technologies, which is vital as they face competition from alternative energy sources. The market is characterized by fragmentation, with key players like General Electric Co., Siemens Energy AG, and Emerson Electric Co. actively participating. Projects such as the offshore wind farm in the UK, utilizing large turbines, are expected to drive further demand for these systems.

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Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Market Size and Demand Forecast for Turbines and Compressors in USD billion, until 2027

    4. 1.4 Recent Trends and Developments

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Turbine Controls

        1. 2.1.1.1 Steam Turbine Controls

        2. 2.1.1.2 Gas Turbine Controls

      2. 2.1.2 Compressor Controls

    2. 2.2 By End-user Industry

      1. 2.2.1 Power

      2. 2.2.2 Oil and Gas

      3. 2.2.3 Chemical

      4. 2.2.4 Metals and Mining

      5. 2.2.5 Other End-user Industries

    3. 2.3 By Service Type

      1. 2.3.1 New Turbomachinery Control System

      2. 2.3.2 Retrofit Turbomachinery Control System and Ancillary Services

    4. 2.4 By Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia-Pacific

      4. 2.4.4 South America

      5. 2.4.5 Middle East and Africa

Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Size FAQs

The Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market is projected to register a CAGR of 2.94% during the forecast period (2024-2029)

ABB Ltd, Siemens Energy AG, Rockwell Automation Inc., Emerson Electric Co. and General Electric Company are the major companies operating in the Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market.

Turbomachinery Control Systems, Retrofitting, and Ancillary Services Report Snapshots

Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)