Power Plant Control system controls individual inverters to manage the specified active power, reactive power, voltage, power factor, and frequency at the point of interconnection (POI). Most of the grid codes around the globe mandate the usage of power plant control system for any renewable plant over 10 MW in capacity. Furthermore, power plant control system controls, monitors, and controls the plant to safeguard the risk factor & accidents. Furthermore, growth in the electric dependency has led to boost the requirement for power plant control system and propose the significant opportunities for the market growth.
According to the report analysis, ‘Power Plant Control System Market: Current Analysis and Forecast (2019-2027)’ states that power plant control system caters considerable market existence and projected to have significant market growth in the reviewed period as well. It is mainly owing to speedily growing power industry, require for power plant instrumentation, augmenting need for biomass power plant control system, developing thermal power plant instrumentation, augmenting the power generation capacities worldwide, employment of DCS system in power plants, and government initiatives concerning the implementation of industrial automation.
In addition, the effective growth in need for zero downtime power supply solutions for critical power applications is the foremost driver of the rotary or Power Plant Control System Market. Moreover, growth in requirement for electricity across the world, majorly in underdeveloped nations, is projected to fuel the functioning efficiency of power plant control systems market. These systems help advance the operational efficiency of power plants which is projected to develop the power plant control systems.
Based on plant type, the power plant control system market is classified into coal, natural gas, hydroelectric, nuclear, oil and renewable. The renewable segment is probable to account for the greatest share of the power plant control system market throughout 2021-2026. The global shift in power generation technology from fossil fuel to renewables in the foremost markets of Europe, North America, and Asia Pacific is predicted to be the foremost driver for this segment throughout the forecast duration.
Based on application, product the power plant control system market is categorized into boilers and auxiliaries control, turbine and auxiliaries control, generator excitation and electrical control and others. Presently, market is registered by turbine and auxiliaries control. The augmenting number of installations of wind power plants, especially in Europe and North America, along with unending coal power plant investments in Asia Pacific, is projected to be the foremost driving aspect for the growth of the turbine & auxiliaries control segment.
Based on solution, the market is classified in to supervisory control & data acquisition (SCADA), programmable logic controller (PLC), distributed control system (DCS), plant asset management (PAM) and plant lifecycle management (PLM). The Distributed Control System (DCS) segment is projected to control the larger share during the forecast period owing to the growing number of DCS power plants across the world. Region wise, Asia-Pacific controls the largest market share owing to augmented power consumption, increasing influx of renewable sources in the energy mix, and renovation, modernization, and up gradation of aging power plants in the region.
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Ankur Gupta, Head Marketing & Communications