Power Plant Control Market: Global Industry Analysis and Forecast (2023-2029)

Power Plant Control Market was valued at US$ 7.72 Bn. in 2022 and the total revenue is expected to grow at 7.3% of CAGR through 2023 to 2029, reaching nearly US$ 12.65 Bn.
Power Plant Control Market Overview:
A Power Plant Controller (PPC) regulates and controls the networked inverters, devices, and equipment at a solar PV plant to satisfy setpoints and adjust grid settings at the Point of Interconnect (POI). Heterogeneous PV systems' voltage as well as active and reactive power are fully regulated with the help of the power plant controller (PPC). All grid parameters are monitored by a high-accuracy power quality analyzer when it is in operation. This makes it possible to regulate the grid connection point quickly and reliably.

Power plants are now highly automated. The majority of thermal power plant systems can be operated from a control room. Electrical auxiliaries for grid connection, unit transformers, excitation, generator/unit protection, synchronization, auxiliary transformers, and switchgear are all systems that may be operated from the central control room. Traditionally, these electrical devices were linked to I/O and data-regulated systems (DCS). The increase in global energy consumption, particularly in emerging economies, is expected to boost the operational efficiency of the Power Plant Control Systems Market. These solutions are expected to improve power plant operating efficiency and supplement power plant control systems. Furthermore, increased environmental awareness and global warming are expected to lead to greater efficiency requirements in power plants.

The report covers power plants (such as coal, gas, oil, nuclear, biomass, waste, and geothermal) as well as renewable energy sources, and it covers almost 30,000 power plants across 164 nations (e.g. hydro, wind, solar). Each power plant is geolocated, and entries include data on its generation, ownership, and fuel type as well as its capacity all covered in the power plant control market report.To know about the Research Methodology :- Request Free Sample Report
Power Plant Control Market Dynamics:
Power Plant 4.0: Using next-generation technology to digitize power plants

Existing data is used to create machine-learning solutions that give actual value, optimize decision-making, boost flexibility, and draw the best players as industry 4.0 technology develops. Several power plant control market players started their digitalization to drive power plant control market growth. changes made possible by technical solutions, like data models that aid in setting optimal set points, better dispatch decisions, and assistance approaches to maintenance and operating mode selection. However, smart-thinking organizations have lately begun utilizing visualization technologies to control the efficiency of real-time creation and software for digital controls to transmit predicted data control spaces However, these advancements are based in concretely enhancing plant operating results and so only include a digitally enabled, future-proof power plant control market.

Data is one of an organization's most important resources. Likewise, each company's journey begins with developing a fact-based, data-driven strategy. learning about the culture and the latest developments in data may be transformed through analytics into useful insights. Along with cutting-edge innovations, the next generation of digital and sophisticated analytics tools has artificial intelligence and other technology, such as computer learning. These strategies are designed to move greater than the commonly used multivariate regression method ways for exposing occult patterns and intricate dependencies. Helps to drive the power plant control market growth.

Demand for smart grid (SGMCO) by consumer

In response to time-based pricing or other financial incentives, demand response gives customers the chance to significantly influence how well the electric grid operates by lowering or adjusting their power use during peak hours. Some electric system designers and operators employ demand response programs as resource choices for balancing supply and demand. These initiatives may cut the price of power in wholesale markets, which will reduce retail prices. Offering time-based rates including time-of-use pricing, critical peak pricing, variable peak pricing, real-time pricing, and critical peak rebates are some ways to include consumers in demand response initiatives. It also contains direct load control programs, which provide power companies the option to turn on and off water heaters and air conditioners at times of high demand in return for a reward and lower electricity costs.

Demand response initiatives are viewed as a resource alternative with rising value by the electric power sector, whose capabilities and potential effects are increased by grid modernization initiatives. For instance, sensors can identify peak load issues and use automated switching to reroute or lower electricity in key locations, eliminating the possibility of overload and the ensuing power outage. The breadth of time-based pricing plans that may be made available to customers is increased by advanced metering technology in the power plant control market.

The development of grid modernization technologies, tools, and methods to use demand response is one of the objectives of the Smart Grid R&D Program. It will also assist the power industry in designing, testing, and demonstrating integrated, national electric/communication/information infrastructures with the capability to dynamically optimize grid operations and resources, incorporate demand response, and involve consumer participation. To do this, OEMs is funding research, development, and application of smart grid technologies, modeling, and analysis of distribution systems, transactive energy, modeling and analysis of consumer behavior, and high-speed computational analytical capabilities for decision support tools. And driving the demand for the power plant control market. The development of grid modernization technologies, tools, and methods to use demand response is one of the objectives of the Smart Grid R&D Program. It will also assist the power industry in designing, testing, and demonstrating integrated, national electric/communication/information infrastructures with the capability to dynamically optimize grid operations and resources, incorporate demand response, and involve consumer participation. To do this, OE is funding research, development, and application of smart grid technologies, modeling, and analysis of distribution systems, transactive energy, modeling and analysis of consumer behavior, and high-speed computational analytical capabilities for decision support tools. And driving the demand for the power plant control market.
Power Plant Control Market Segment Analysis:
Based on Type, the Power Plant Control Market is segmented into Supervisory Control & Data Acquisition (SCADA). Supervisory Control & Data Acquisition (SCADA), Programmable Logic Controller (PLC), Distributed Control System (DCS), Plant Asset Management (PAM), and Plant Lifecycle Management (PLM). Supervisory Control & Data Acquisition (SCADA) held the largest market share in 2022. Industrial and facility-based SCADA (Supervisory Control & Data Acquisition) systems are used to monitor and manage operations in real-time. PLCs, RTUs, communication networks, HMIs, and databases make up SCADA systems, which provide a full-featured building management controlling operating system in the power plant control market

Industrial companies and organizations in the public and private sectors utilize SCADA systems to regulate and maintain efficiency, disseminate data for wiser choices, and notify system problems to assist reduce downtime. SCADA systems are effective in a wide variety of businesses because they may be installed in small, straightforward setups or big, complicated ones. The foundation of several contemporary enterprises, including energy, Food and beverage, Manufacturing, Oil and gas, Power, Recycling, Transportation, Water, and wastewater, And many more driving the power plant control market during the forecast period.

The restricted need for SCADA systems in 2020 was caused by manufacturing facilities and operating procedures in the oil & gas, chemicals & materials, paper & pulp, and industries. Due to the widespread COVID-19 infection and the constrained stakeholder relationships in the first two quarters of 2020, SCADA solutions and service providers saw a reduction in the revenues of SCADA in the power plant control market. The automation system includes SCADA software, which companies are investing in. The most recent version of EcoStruxure Power SCADA Operation 2020 software was released in February 2020 by Schneider Electric SE (France). Real-time vision is made possible by this program, which also offers cybersecurity and graphic customization. Companies in the Asia-Pacific region are advancing the market for SCADA systems through collaborations and acquisitions. For instance, Hitachi, Ltd. purchased ABB Power Grid in July 2020 to become the biggest global supplier of grid equipment and services. Most companies are started investing and driving the SCADA in the power plant market.

Based on the Application, the Power Plant Control Market is segmented into Coal, Hydroelectric, Natural Gas, Nuclear, and Renewables. Coal is expected to dominate the power plant control market during the forecast period. In 2022, the amount of coal-fired electricity produced worldwide increased to an all-time high, setting new records for coal power plant CO2 emissions. Coal still accounted for more than one-third of all energy generation resulting in rising demands from governments and the commercial sector to phase it out or move away from it and driving the power plant control market demand during the forecast period. Majority of coal-user countries like the Philippines, Poland, South Korea, and Viet Nam. In total, the signing parties accounted for 12% of global coal-fired electricity in 2022. And drive the power plant control market.

The only pollution reductions come from efficiency improvements; carbon capture, utilization, and storage (CCUS) have not been installed in any new coal plants. Although the rise is just about 0.2%, China has seen some efficiency advantages in power plant control market. The Net Zero Emissions by 2050 Scenario asks for a continuous 9% annual drop in coal-fired production between 2022 and 2030 and a complete phaseout by 2040, although these trends are not in line with those forecasts.

Global coal consumption in the first half of 2022 hardly changed from the first half of 2022 (we anticipate a decline of less than 0.5%), with the slowdown in the economy more than compensating for any boost in demand brought on by higher natural gas prices. At the beginning of the year, gas prices were already quite high due to Russia withholding supply from European markets as geopolitical tensions over Ukraine increased. Late in February, when Russia invaded Ukraine, gas prices all across the world increased even more. This increased the move from gas to coal in many countries.

Global coal demand is expected to rise by 0.7% from 2022 to 8 billion tonnes overall in 2023.

Based on the Application, the Power Plant Control Market is segmented into Boiler & Auxiliaries control, Turbine & Auxiliaries control, Generator Excitation & Electrical control, and Others. Turbine & Auxiliaries control held the largest market share in 2022.

Turbines, which are used to generate electricity, and compressors, which provide the constant pressure necessary for the functioning of pneumatic valves and actuators in the power plant, are examples of equipment that uses turbomachinery control systems in the power industry. Turbomachinery control systems are essential for improving the productivity and safety of turbomachinery equipment in conventional power generation systems (steam, gas). Due to an increase in population and industrial development, the demand for energy is growing quickly on a global scale. In addition, the increase in per capita energy consumption in emerging regions is expected to result in a substantial need for the construction of power infrastructure in the near future. Because alternative energy sources are posing more challenges to conventional power-generating technologies in terms of cost of power generation, the usage of turbomachinery control systems has gained relevance. During the forecast period, the market is expected to see significant growth due to the efficiency increase brought about by the usage of turbomachinery control systems in the power-generating process using conventional fuel and drive the plant control market demand during the forecast period.
Power Plant Control Market Regional Insights:
The Asia Pacific region dominated the market with a 45 % share in 2022. According to GlobalData's database of power sector contracts, 44 power plant contracts were announced in the Asia-Pacific area in July 2022, a decline of 20% from the previous 12-month average of 55. With 44 contracts and a 41.5% share in the month of July 2022, Power Plant led all other power tender categories in the Asia-Pacific area, followed by T&D Project with 37 contracts and a 34.9% share and Generation Equipment with ten contracts and a 9.4% share.

Power plant control system sales in 2019 were dominated by Asia-Pacific, and it is expected that this trend would continue in the years to come. Due to its rapid urbanization, industrialization, and population growth, Asia-Pacific is one of the world's regions with the fastest rates of growth. The need for a reliable power source is therefore great. Many nations are investing in different power-producing production facilities and improving their efficiency to meet these needs.

China is expected to construct 36% of the world's hydroelectricity-producing capacity and 40% of the world's wind energy between 2015 and 2022, according to the International Energy Agency (IEA). More than 259,000 MW of new coal plants are already under construction in China, which makes for more than 1/3 of the global coal production plant pipeline. There were 44 power plant contracts announced in the Asia-Pacific region in July 2022, marking a drop of 20% over the last 12-month average of 55, according to GlobalData’s power industry contracts database.
Competitive Landscape
The growing trend of decarbonization and increased investments in renewable energy sources are likely to create opportunities in the power plant control market, which will boost competitiveness in the market. The report covered detailed analyses of each market player.

Schneider Electric is a major player in the power plant control market. The old Gas and Power section of Siemens Group was sold off to become Siemens Energy AG, an energy organization that has a 67% share in Siemens Gamesa. Gas turbines provide the technology of more than 7000installed heavy-duty, industrial, and aero-derivative gaturbinesne ranging up to 593 MW, steam turbines with a power range from 10KW to 1900MW also provide generators, power plant solutions, distributed control solutions eco-friendy wind power, small hydropower, heat pumps, and energy services. which increases the flexibility, efficiency, reliability, and availability of power and heat assets throughout their entire lifecycle.

Leading international technology corporation ABB (ABBN: SIX Swiss Ex) drives social and industrial change and a sustainable future. ABB pushes technological limits to raise performance to new heights by integrating software with its portfolio of electrification, robotics, automation, and motion solutions. For companies operating in the oil, gas, chemicals, life sciences, power generation, and water industries, ABB Energy Industries provides safe, intelligent, and sustainable projects and operations. company links with customer demand and technology to drive integrated solutions that automate, digitalize, and electrify the industry in order to assist our customers in adapting and succeeding. These products are designed to increase operational efficiency, decrease risk, and reduce energy consumption and waste. and cut costs across the energy industry, in addition to more than 50 years of domain experience.
Power Plant Control Market Scope: Inquire before buying



Power Plant Control Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 7.72 Bn.


Forecast Period 2023 to 2029 CAGR:
7.3%
Market Size in 2029:
US $ 12.65 Bn.


 Segments Covered:
by Solution
• Supervisory Control & Data Acquisition (SCADA)
• Programmable Logic Controller (PLC)
• Distributed Control System (DCS)
• Plant Asset Management (PAM)
• Plant Lifecycle Management (PLM)


by Type of Fuel
• Coal
• Hydroelectric
• Natural Gas
• Nuclear
• Renewables


by Application
• Boiler & Auxiliaries control
• Turbine & Auxiliaries control
• Generatoror Excitation & Electrical control
• Other



Power Plant Control Market by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Power Plant Control Market, Key Players are:
• Schneider Electric
• ABB
• Eaton
• Siemens
• General Electric
• Emerson
• Rockwell Automation
• Yokogawa
• Metso
• Mitsubishi Heavy Industries
• Omron
• Toshiba International
• Honeywell

Frequently Asked Questions:

1] What segments are covered in the Global Power Plant Control Market report?
Ans. The segments covered in the Power Plant Control Market report are based on Product Type and End User.

2] Which region is expected to hold the highest share in the Global Power Plant Control Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Power Plant Control Market.

3] What is the market size of the Global Power Plant Control Market by 2029?
Ans. The market size of the Power Plant Control Market by 2029 is expected to reach US$ 12.65 Bn.

4] What is the forecast period for the Global Power Plant Control Market?
Ans. The forecast period for the Power Plant Control Market is 2023-2029.

5] What was the market size of the Global Power Plant Control Market in 2022?
Ans. The market size of the Power Plant Control Market in 2022 was valued at US$ 7.72 Bn.