Apr 18, 2018   SOURCE: BusinessWire

Global Turbomachinery Control Systems, Retrofitting & Ancillary Services Market Analysis, Growth & Trends With Forecast To 2023 - ResearchAndMarkets.com

The "Global Turbomachinery Control Systems, Retrofitting & Ancillary Services Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The abundance of natural gas, coupled with their increasing applications across various end-use industries, is expected to spur the growth of global natural gas consumption rate. The increasing use of natural gas is expected to drive the demand for turbomachinery, which, in turn, is likely to escalate the need for turbomachinery control systems market, globally.

To curb emissions, countries, such as China and the United Kingdom, have started to shift away from coal toward natural gas. With the advent of efficient gas turbines and inherent environmental benefits associated with natural gas (natural gas emissions are at most one-third of coal or petrol), current power generation accounts for more than half of the demand growth in natural gas. Moreover, global natural gas consumption is likely to reach 485 Bcf/d by 2040, growing from 340 Bcf/d in 2015, particularly in regions, like Asia and the Middle East.

Asia-Pacific is one of the fastest growing regions in the world, owing to the presence of emerging countries like India and China and emerged countries like Japan and Australia. Asia-Pacific has a big market share and the highest growth rate in the turbomachinery control systems market. Factors spurring this market are burgeoning economies of India and China, the presence of a large number of chemicals industries, and low labor wages resulting in a growing manufacturing sector.

Companies Mentioned

  • ABB Group
  • Emerson Electric Co.
  • General Electric
  • Honeywell Technology Solutions
  • Rockwell
  • Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Voith AG
  • Woodward Inc.
  • MAN Diesel & Turbo SE

Key Topics Covered:

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Supply Chain Analysis

6. Industry Attractiveness - Porter's Five Forces Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape

11. Disclaimer

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