“Power Plant Control System Market is projected to reach USD 10.2 billion by 2026 from an estimated USD 7.2 billion in 2021, at a CAGR of 7.3% during the forecast period.
The growing need for zero downtime power supply solutions for critical power applications is the major driver of the rotary or control system market. The advantages of rotary UPS such as high efficiency, fewer space requirements, and low lifetime costs are expected to further drive the demand. Increasing data center investments are expected to be the single biggest contributing factor to the growth of power plant control system market during the forecast period.
Some of the prominent key players are Siemens Energy (Germany),ABB (Switzerland),Emerson (US),Rockwell (US),GE (US)
The turbine & auxiliaries control is expected to be the largest power plant control system market segment by application; is expected to be the largest during the forecast period. The growing number of installations of wind power plants, especially in Europe and North America, along with continuing coal power plant investments in Asia Pacific, is expected to be the key driving factor for the growth of the turbine & auxiliaries control segment. With the increasing power plant investments in plant installations the demand for power plant control system in this segment is expected to grow.
Renewable segment is expected to capture the major share of the power plant control system market by application; Datacenter segment by application is expected to be the largest segment during the forecast period. The demand for data centers is continuously increasing, and the amount of energy consumed by them has also surged. This is due to the increased load of IT devices that are installed in these data centers. The continuity of power supply is critical for the effective functioning of IT loads in data centers and power outages in them are costly. Investments in large hyper scale data centers have increased significantly to meet the increasing data demand. These drivers are expected to play a key role in the growth of the rotary UPS market for data center applications.
Asia Pacific is expected to be the fastest-growing segment of the global market; is expected to grow at the highest CAGR during the forecast period. Continued investments in fossil fuel power plants, especially in China, India, and Southeast Asia, along with the increased renewable power plant investments in countries such as China, India, Japan, and South Korea, are expected to drive the demand for power plant control systems in the region.