Global Turbomachinery Control System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Turbomachinery Control System Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Turbomachinery is a class of machines that transfers energy between a rotor and a fluid. The three main types of turbomachinery are turbines, compressors, and pumps. Turbomachinery is used in various applications, such as power generation, aviation, transportation, and industrial processes. Turbomachinery Control System (TCS) is a system that monitors, maintains and optimizes the performance of turbines, compressors and centrifugal pumps.

Market Overview:

The latest research study on the global Turbomachinery Control System market finds that the global Turbomachinery Control System market reached a value of USD 6084.4 million in 2022. It’s expected that the market will achieve USD 7919.1 million by 2028, exhibiting a CAGR of 4.49% during the forecast period.

The rapid growth of the Asia-Pacific market

Turbomachinery control system is widely used in petroleum development, power generation industry, transportation industry, etc., downstream applications are widely used, and downstream applications are closely related to social life and production. In recent years, the Asia-Pacific region not only has rapid economic development, but also has a large population base and extensive market demand. The Asia-Pacific region has two countries with large population base and large market size, China and India. China is one of the most important markets in the Asia-Pacific region and one of the global economies. China has a large population base and a vast geographical area. China has a population of more than 1.4 billion, 34 provincial administrative regions, and its total GDP will occupy the second place in the world in 2022. With a population of more than 1.4 billion, India will rank fifth in the world in terms of total GDP in 2022, and the market potential is huge. In order to meet the economic development and the growing needs of people, the Asia-Pacific region continues to invest in various fields. Therefore, the growth of the downstream market in the Asia-Pacific region promotes the development of the industry market, and it is expected that the Asia-Pacific region will occupy more market share in the future.

The growth of the North America natural gas market is driving the industry

The increase in oil and gas production in North America provides opportunities for the industry. The demand for oil and gas infrastructure is increasing the demand for Turbomachinery Control systems. In May and June 2022, the United States announced three capacity expansion projects for the construction of natural gas pipelines, namely the two Kinder Morgan projects, the expansion of the pipeline to the Gulf of Mexico and Permian, and the Whistler project. The expansion of natural gas pipelines increases the efficiency of crude oil and natural gas transportation, driving oil and natural gas production capacity. According to data from the U.S. Energy Information Administration, U.S. crude oil production is estimated to average 11.9 million barrels per day in 2022, and is expected to average 12.4 million barrels per day in 2023, with an increase of 470,000 barrels per day in the Permian region of eastern New Mexico and 120,000 barrels per day in the Gulf of Mexico. 12.8 million BPD in 2024, exceeding the daily output set for 2019. With opportunities in western Canada beyond the U.S., and oil reserves not controlled by national oil companies, private sector investment in turbomachine control systems in the North American upstream oil and gas market is likely to only increase.

Region Overview:

In 2022, the share of the Turbomachinery Control System market in APAC stood at 45.15%.

Company Overview:

Woodward is one of the major players operating in the Turbomachinery Control System market, holding a share of 11.77% in 2023.

Woodward designs, manufactures and provides control solution for aerospace, military, power, transportation and industrial industries. The company’s major product portfolio comprises fluid energy, electrical energy, compressor, combustion control, motion control systems and other efficient equipment. The company’s products find applications in flight deck control, actuation, TRAS system, control systems, combustion systems, industrial engine, gas turbine, hydro turbine, and turbo-expanders. It also offers aftermarkets repair, maintenance, replacement and other services for installed products.

Triconex is both the name of a Schneider Electric brand that supplies products, systems, and services for safety, critical control, and turbomachinery applications and the name of its hardware devices that utilize its TriStation application software. Triconex solutions are highly valued and used across a broad range of high hazard industries including oil and gas, exploration and production, refining, petrochemical, chemical, pipelines and distribution, as well as energy and power generation.

Segmentation Overview:

By type, Steam Turbomachinery Control System segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Power Generation segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Turbomachinery Control System market covered in Chapter 3:

Turbine Technology Services (TTS)
Triconex (Schneider Electric)
Turbine Diagnostic Services
HollySys
SSE
GE Gas Power
TurboMachinery Controls (TMC)
Tri-Sen
Control-Care
HPI
INTECH
Voith AG
Holland-Controls
Drake Controls
Nexus Controls
Energy Control Technologies (ECT)
Statistics & Control Inc (S&C)
Petrotech
Woodward
Compressor Controls Corporation (CCC)
Siemens
ABB

In Chapter 4 and Chapter 14.2, on the basis of types, the Turbomachinery Control System market from 2018 to 2029 is primarily split into:

Steam Turbomachinery Control System
Gas Turbomachinery Control System
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Turbomachinery Control System market from 2018 to 2029 covers:

Oil & Gas
Chemical & Petrochemical
Transportation
Power Generation
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)