Automation in Combined Heat and Power Market by Component (Sensors, Controllers, Switches & Relays, Drives, and Others), Control and Safety System (Distributed Control System, Supervisory Control & Data Acquisition System, Systems Instrumented Systems, Programmable Logic Controller, and Human Machine Interface): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global automation in combined heat and power market size was valued at $12.53 billion in 2020, and is projected to reach $24.12 billion by 2030, registering a CAGR of 7.1% from 2021 to 2030. Combined heat and power (CHP) automation play a significant role in energy management which include an optimal coordination of turbines & boilers in order to minimalize production costs while maintaining environmental compliance. Automation system in a CHP plant covers the entire process, including the turbine island, boiler island, fuel handling, balance of plant, and auxiliary processes.
Growth of the global automation in combined heat and power market is anticipated to be driven by factors such as emphasis on industrial automation & optimum utilization of resources, and adoption of emerging technologies such as IoT and AI in industrial environments. In addition, emergence of the concept of connected enterprises boosts the overall market growth. However, lack of awareness among small scale industries acts as a major restraint for the global automation in combined heat and power industry. On the contrary, surge in demand from Asia-Pacific region is expected to create lucrative opportunities for the automation in combined heat and power market.
The global automation in combined heat and power market is segmented on the basis of component, control and safety system, and region. By component, the market is classified into sensors, controllers, switches & relays, drives, and others. Depending on control and safety system, it is categorized into distributed control system, supervisory control & data acquisition system, systems instrumented systems, programmable logic controller, and human machine interface.
Region wise, the automation in combined heat and power market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Europe dominated the automation in combined heat and power market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the commercial sector. However, Asia-Pacific is expected to witness significant growth by the end of the forecast period, followed by LAMEA. The key players operating in the market include ABB Ltd, Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation, Inc., Schneider Electric S.E., Siemens AG, Valmet, and Yokogawa Electric Corporation.
Key Benefits for Stakeholders
This study comprises analytical depiction of the global market size along with current trends and future estimations to depict imminent investment pockets.
The overall automation in combined heat and power market analysis is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current automation in combined heat and power market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and the automation in combined heat and power market share of key vendors.
The report includes the market trends and the market share of key vendors.
Key Market Segments
By Component
Sensors
Controllers
Switches & Relays
Drives
Others
By Control and Safety System
Distributed control system (DCS)
Supervisory control & data acquisition system (SCADA)
Systems instrumented systems (SIS)
Programmable Logic Controller (PLC)
Human machine interface (HMI)
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
ABB Ltd
Emerson Electric Co.
Honeywell International Inc.
Mitsubishi Electric Corporation
Omron Corporation
Rockwell Automation, Inc.
Schneider Electric S.E.
Siemens AG
Valmet
Yokogawa Electric corporation
List of Company Profiles
ABB
EMERSON ELECTRIC CO.
HONEYWELL INTERNATIONAL INC
MITSUBISHI ELECTRIC CORPORATION
OMRON CORPORATION
ROCKWELL AUTOMATION, INC
SCHNEIDER ELECTRIC
SIEMENS AG
VALMET
YOKOGAWA ELECTRIC CORPORATION
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