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Pulished Date September, 2021
ID: 12139
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Power Plant Control System Market Segmentation by Plant Type (Natural gas, Coal, Nuclear oil, Hydroelectric and Renewable); By Solution (SCADA, DCS and Programmable controllers); By Component (Hardware and Software) and Region - Industry Forecast of 2021 to 2026

Pulished: September, 2021
ID: 12139
Pages: 180

Power Plant Control System Market Value & Growth Rate:

The Global Power Plant Control System Market size was valued at US$ 7.3 billion in 2021 and is anticipated to reach US$ 10.3 billion by 2026 and increase at a CAGR of 7.3% during 2021 and 2026. 

Power Plant Control System Market Scenario:

The market for rotary or power plant control systems is being driven by the increased demand for zero-downtime power supply solutions for critical power applications. The primary benefits of rotary UPSs, include high efficiency, small footprint, and low lifetime costs, are projected to fuel demand. Increasing data center investments are predicted to be the single most important driver of growth in the power plant control system market over the forecast period. Power plant control systems have progressed from DCS-cantered platforms with proprietary software to open systems with industry-standard software and hardware, and finally to fully integrated plant automation systems with limitless connectivity and the ability to interrogate field instruments from a variety of manufacturers. Control of power plants and power systems is a topic of global interest, and as a result, it continues to attract significant study, development, and application in a wide range of fields.

Power Plant Control System Market Drivers:

Using a control loop, the power plant control system manages, regulates, directs, and orders the other systems. Analog, microprocessors, and computers are the three types of systems. The control system consists of programmable logic controllers (PLCs), remote terminal units (RTUs), control servers, intelligent electronic devices (IEDs), and programmable automation control systems. Each of these parts has a specific function, such as process control, data acquisition, graphic presentation, or data storage, and they connect with the central system to govern the network. In addition to being a source of energy, the demand for cost-effectiveness and intelligent power plant operation has grown. The combination of various multiplexed systems, interconnection with another system, and significant digitalization of high-speed control systems have all contributed to advancements in power plant control. Given the current trend toward energy market liberalization, it is critical to keep plant building costs low and reduce plant construction. The expansion of the power plant control system market is being fueled by an increase in alternative energy programs and government vision plans for renewable energy power generation.

To reduce the burden of oil import debt, governments around the world are increasingly relying on renewable energy sources. The adoption of Industry 4.0, Industry IoT, and need for safety compliance automation products are all creating prospects for the market. Therefore, these are the essential factors that are responsible for the global power plant control system market growth during 2021-2026. The rise of technology like the Industrial Internet of Things (IIoT) has made it possible to make decisions based on accurate real-time data. The Internet of Things has given rise to a new generation of automation systems with unrivalled capacity and extensibility. With leaner and flatter designs, these systems are projected to play a key role in power plant automation and control, bridging the gap between operational technologies (OT) and information technologies (IT) (IT). Emerson, for example, provides wireless and real-time access to the distributed control system (DCS) and maintenance data, saving overall operational expenses over a longer period of time.

Power Plant Control System Market Restraints:

The equipment and components at power plants communicate via a variety of interfaces, technologies, and protocols. Because these communication interfaces and protocols are not standardized, data may be misrepresented. Lack of technology standards makes system integration more difficult and prevents plug-and-play capabilities between unrelated systems. For example, the bulk of equipment in power plants communicates via their own interface protocols, resulting in incompatibility between units from different manufacturers. The capacity of different systems to work together without conflict is known as interoperability. Because there are numerous significant players, each with their own solutions, the consumer may be at a disadvantage because they will be bound into one manufacturer's product ecosystem. Customers' options are limited, as is their ability to switch to or integrate better solutions from other manufacturers. In some circumstances, important power plant equipment such as turbines and generators, for example, come with the OEM's own control systems. Interoperability is a major concern when several important components are purchased from different OEMs. The centralized plant management solution, whether SCADA or DCS, should be able to communicate with and govern all of the separate control systems in the power plant. This lack of interoperability can hamper global power plant control system market expansion.

Recent Developments in the Global Power Plant Control System Market:

  • Siemens Energy announced that it is going to construct a remote-controlled gas fired power plant in the idea to secure power supply of Germany.

  • Mitsubishi and its US subsidiary Mitsubishi Electric Power Products, Inc. (MEPPI) announced today that they have reached an agreement to buy UK-based Smarter Grid Solutions (SGS). SGS is a significant global developer of software for managing distributed energy resources (DER) for power utilities and DER operators.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

7.3%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

Siemens Energy, ABB, Emerson, Rockwell, Schneider Electric,Honeywell,Mitsubishi Electric, Yokogawa Electric Corporation,Hitachi

Power Plant Control System Market Segmentation:

By Plant Type:

  • Natural gas
  • Coal
  • Nuclear oil
  • Hydroelectric
  • Renewable

Coal, natural gas, oil, hydroelectric, nuclear, and renewable power plants are all segmented in the power plant control system market. During the period 2021–2026, the renewable sector is expected to account for the highest proportion of the power plant control system market. During the forecast period, the global change in power generating technology from fossil fuels to renewables in key markets such as Europe, North America, and Asia Pacific is likely to be the primary driver for this segment. Moreover, due to reasons such as rising renewable power share in total electricity generation, an increasing number of utility-scale renewable projects, and rising demand for clean energy, the renewable industry is predicted to grow significantly throughout the projection period.

By Solution:

  • SCADA
  • DCS
  • Programmable controllers

SCADA, DCS, programmable controllers, and others, which comprise product lifecycle management, plant asset management, and plant optimization solutions, make up the power plant control system market by solution. Large, sophisticated power plants, such as coal, gas, and oil-fired power plants, favor DCS solutions. The main driver for demand is the rising use of DCS solutions across fossil-fueled facilities due to their high reliability and ease of use.

By Component:

  • Hardware
  • Software

Software segment plays a major role in holding the most significant global power plant control system market share during the forecast period. Various firms offer performance computation software packages for power plant control and operation, which aid in power generation control, electricity grid control, and SCADA system monitoring. EnergiTools is online plant performance monitoring software that analyses and diagnoses plant performance using data from the plant computer via the plant's data gathering system.

Power Plant Control System Market Regional Analysis: 

Power Plant Control System Market Report includes the segmentation of Regions:

  1. Asia Pacific is projected to have the highest global power plant control systems market share due to the continuous investments in fossil fuels mostly in India and China. Moreover, Japan and South Korea tend to have the significant global power plant control system market share due to the growing investments in power plants.

  2. The increasing adoption of DCS solutions across fossil fuels led the North American region to hold the significant global power plant control system market share.

  3. Europe

  4. Latin America

  5. Middle East and Africa

Impact of COVID-19 on Power Plant Control System Market:

Supply chains may feel the most substantial near-term consequences on power plant control systems that are already contracted or in the manufacturing process. Industry leaders expect supply and construction delays, either as a result of industry closures to prevent the spread of the coronavirus or as a result of workers being ill.  Manufacturing disruptions in China and the United States may cause the power plant control system market to see a severe short-term drop. Furthermore, many countries' domestic currencies have declined as a result of the COVID-19 pandemic. There is a misalignment of supply and demand, resulting in financial losses for manufacturers; also, critical components used in manufacturing power plant management systems are often acquired in US dollars, resulting in increased component costs.

Power Plant Control System Market Key Players:

The companies covered in the report include:

  1. Siemens Energy

  2. ABB

  3. Emerson

  4. Rockwell

  5. GE

  6. Schneider Electric

  7. Honeywell

  8. Mitsubishi Electric

  9. Yokogawa Electric Corporation

  10. Hitachi

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                 

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                           

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling     

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                        

                                4.1.1 Drivers      

                                4.1.2 Restaints 

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis         

                                5.1.2 Products/Service 

                                5.1.3 Regional Presence

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Power Plant Control System Market , By Plant Type                  

                                6.1.1 Natural gas             

                                6.1.2 Coal           

                                6.1.3 Nuclear oil               

                                6.1.4 Hydroelectric         

                                6.1.5 Renewable             

                                6.1.6 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.7 Y-o-Y Growth Rate Analysis              

                                6.1.8 Market Attractiveness Index           

                6.2 Power Plant Control System Market , By Solution                      

                                6.2.1 SCADA      

                                6.2.2 DCS            

                                6.2.3 Programmable controllers

                                6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis              

                                6.2.6 Market Attractiveness Index           

                6.3 Power Plant Control System Market , By Component                               

                                6.3.1 Hardware

                                6.3.2 Software 

                                6.3.3 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.4 Y-o-Y Growth Rate Analysis              

                                6.3.5 Market Attractiveness Index           

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                    

                7.2 North America - Market Analysis (2021 - 2026)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Plant Type         

                                7.2.3 By Solution             

                                7.2.4 By Component      

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Plant Type         

                                7.3.3 By Solution             

                                7.3.4 By Component      

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Plant Type         

                                7.4.3 By Solution             

                                7.4.4 By Component      

                7.5 Latin America                            

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Plant Type         

                                7.5.3 By Solution             

                                7.5.4 By Component      

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Plant Type         

                                7.6.3 By Solution             

                                7.6.4 By Component      

8. Key Player Analysis                                    

                8.1 Siemens Energy                        

                                8.1.1 Business Description           

                                8.1.2 Products/Service 

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis      

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 ABB               

                8.3 Emerson                      

                8.4 Rockwell                      

                8.5 GE                  

                8.6 Schneider Electric                    

                8.7 Honeywell                  

                8.8 Mitsubishi Electric                   

                8.9 Yokogawa Electric Corporation                          

                8.10 Hitachi                        

9. Market Outlook & Investment Opportunities                                 

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Power Plant Control System  Market By Region, From 2021-2026 ( USD Billion )

  2. Global Power Plant Control System  Market By Plant Type , From 2021-2026 ( USD Billion )

  3. Global Natural gas Market By Region, From 2021-2026 ( USD Billion )

  4. Global Coal Market By Region, From 2021-2026 ( USD Billion )

  5. Global Nuclear oil Market By Region, From 2021-2026 ( USD Billion )

  6. Global Hydroelectric Market By Region, From 2021-2026 ( USD Billion )

  7. Global Renewable Market By Region, From 2021-2026 ( USD Billion )

  8. Global Power Plant Control System  Market By Solution, From 2021-2026 ( USD Billion )

  9. Global SCADA Market By Region, From 2021-2026 ( USD Billion )

  10. Global DCS Market By Region, From 2021-2026 ( USD Billion )

  11. Global Programmable controllers Market By Region, From 2021-2026 ( USD Billion )

  12. Global Power Plant Control System  Market By Component, From 2021-2026 ( USD Billion )

  13. Global Hardware Market By Region, From 2021-2026 ( USD Billion )

  14. Global Software Market By Region, From 2021-2026 ( USD Billion )

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