Power Plant Control System Global Market Report 2024

The power plant control system market size has grown strongly in recent years. It will grow from $7.34 billion in 2023 to $7.82 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth observed in the historical period can be attributed to various factors, including the increase in power generation capacity, government regulations influencing the power sector, the replacement of aging infrastructure, the integration of renewable energy sources into power generation, and initiatives aimed at modernizing the electrical grid.

The power plant control system market size is expected to see strong growth in the next few years. It will grow to $9.64 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to factors such as the adoption of decentralized energy systems, advancements in energy storage solutions, the global shift towards renewable energy sources, the implementation of remote monitoring and maintenance technologies, and the ongoing trends in electrification. Major trends expected in the forecast period include heightened concerns about cybersecurity, the digitalization of processes in line with Industry 4.0, technological advancements in power plant control systems, the deployment of decentralized and distributed control systems, and the integration of renewable energy sources into the power generation landscape.

The growing presence of renewable energy sources is expected to drive the expansion of the power plant control system market. Renewable sources encompass energy derived from natural processes that are replenished on a human timescale and are deemed environmentally sustainable. Power plant control systems play a crucial role in the integration of renewable sources into the grid, optimizing power plant operations and maintenance, enhancing power production, and simplifying overall plant management. For example, in September 2022, the U.S. Energy Information Administration reported that renewable sources contributed to 24% of U.S. utility-scale electricity generation in the first half of 2022, marking an increase from 21% in 2021. Consequently, the rise in renewable energy sources is a key factor propelling the growth of the power plant control system market.

The surge in power consumption is anticipated to further boost the power plant control system market. Power consumption refers to the amount of electrical energy utilized by a device or system over a specific period. Power plant control systems play a pivotal role in power generation and management, ensuring the efficient flow of energy from generation to consumption while optimizing efficiency and minimizing waste. As an illustration, in December 2023, the U.S. Energy Information Administration highlighted that U.S. electricity consumption rose to 4.07 trillion kWh in 2022, with the total electricity end-use consumption increasing by 3.2% during that year. Consequently, the escalating power consumption acts as a driving force behind the growth of the power plant control system market.

Leading companies in the power plant control system market are strategically focusing on automation within power plants, particularly with the development of hybrid power plant controllers, as part of their efforts to enhance market profitability. A hybrid power plant controller serves as the central management system for a hybrid power plant, overseeing and optimizing power generation from a combination of renewable and conventional sources. For example, in November 2023, GreenPowerMonitor, a Spain-based provider of monitoring, control, and asset management solutions, introduced GPM Hybrid PPC. This control system is specifically designed for the efficient management of power in hybrid plants that incorporate photovoltaic (PV) and battery energy storage system (BESS) technologies. GPM Hybrid PPC intelligently allocates power between PV and BESS to ensure grid stability and maximize efficiency, addressing the challenges associated with hybrid power generation.

Prominent companies in the power plant control system market are dedicated to the development of innovative solutions to cater to the rising demand for reliable and efficient power generation. One such solution is the Experion Energy Control System, designed for virtual power plant functionality to dispatch distributed energy resources. For instance, in May 2022, Honeywell International, Inc., a U.S.-based multinational company, announced the launch of the 'Experion Energy Control System,' enabling users to control a network of distributed energy resources such as wind-generating units, storage systems, and solar farms through a centralized process. This solution empowers users to better manage and optimize their energy asset utilization in response to market conditions by tracking, predicting, and coordinating.

In August 2023, Tesla, Inc., a U.S.-based electric automobile manufacturer, collaborated with EnergyHub, Inc., allowing Tesla Powerwall customers to enroll in the 'ConnectedSolutions' program, a virtual power plant (VPP) initiative offered by EnergyHub, Inc. Through this collaboration, customers can link their batteries to form a virtual power plant, contributing to meeting peak demand for electricity generation and providing additional grid services. EnergyHub, Inc. is a U.S.-based company specializing in the production of energy management tools.

Major companies operating in the power plant control system market report are Hitachi Ltd., General Electric Company, Schneider Electric SE, Siemens Energy AG, Mitsubishi Electric Corporation, ABB Ltd., Toshiba Corporation, Eaton Corporation PLC, Emerson Electric Co., Motorola Solutions Inc., Andritz AG, Rockwell Automation Inc., OMRON Corporation, Wärtsilä Corporation, Valmet-Rauma Corporation, Voith Group, Indra Sistemas SA , Woodward Inc., AVEVA Group PLC, Ingeteam Power Technology SA, WAGO Klemmenwerk GmbH, Bachmann electronic GmbH, Efacec Power Solutions, S.A. , L&T Electrical & Automation Ltd., Bentek Systems Ltd., Yokogawa Electric Corporation, Mita-Teknik A/S, Inductive Automation LLC, meteocontrol GmbH, ETAP - Operation Technology, Inc.

Asia-Pacific was the largest region in the power plant control system market in 2023. The regions covered in the power plant control system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the power plant control system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A power plant control system is a sophisticated and integrated set of hardware and software components designed to effectively manage and optimize the operation of a power generation facility. Its purpose is to equip operators with essential tools for coordinating and overseeing plant operations, ensuring reliable and efficient electricity generation. This system aims to provide features such as maximum fuel flexibility, quicker startup, improved grid response, and enhanced turndown capability.

The primary types of components in a power plant control system include hardware and software. Hardware encompasses the physical components of a computer system or electronic device that can be touched and seen. These control systems are utilized in various types of power plants, such as coal, hydroelectric, natural gas, nuclear, and renewable energy sources. They integrate different solutions, including supervisory control and data acquisition (SCADA), plant asset management (PAM), distributed control systems (DCS), programmable logic controllers (PLC), and plant lifecycle management (PLM). These systems are applied to different plant applications, including boilers, turbines, generators, reactors, and others.

The power plant control system market research report is one of a series of new reports that provides power plant control system market statistics, including power plant control system industry global market size, regional shares, competitors with a power plant control system market share, detailed power plant control system market segments, market trends and opportunities, and any further data you may need to thrive in the power plant control system industry. This power plant control system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The power plant control system market includes revenues earned by entities by providing power plant control software services such system integration and installation, software maintenance and support, and predictive maintenance . The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The power plant control system market consists of sale of steam power generation control systems, distributed control systems, and GT/GTCC control systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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