Global Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market (2021 to 2026) – Growth, Trends, COVID-19 Impact and Forecasts – ResearchAndMarkets.com – Yahoo Finance

DUBLIN, December 20, 2021–(BUSINESS WIRE)–The "Turbomachinery Control Systems, Retrofitting, and Ancillary Services Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)" report has been added to ResearchAndMarkets.com's offering.
The turbomachinery control system, retrofitting, and ancillary system market is expected to register a CAGR of 4.09% during the forecast period, 2020-2025.
Companies Mentioned
ABB Ltd
China Automation Group Limited
Compressor Controls Corporation
Emerson Electric Co.
Energy Controls Technology Inc.
General Electric Company
HollySys Automation Technologies Ltd
Honeywell International Inc.
Ingersoll Rand Inc.
MAN SE
Mitsubishi Electric Corporation Ltd
PetroTech Oil & Gas Inc.
Rockwell Automation Inc.
Schneider Electric SE
Siemens AG
Solar Turbines Incorporated
STORK, A Fluor Company
Turbine Technology Services Corporation
Voith GmbH & Co. KGaA
Woodward Inc.
Yokogawa Electric Corporation
Key Market Trends
Increasing Demand from Oil and Gas Sector
The oil and gas sector is expected to maintain its dominance in the market studied, over the forecast period. With increasing favor for gas globally, the turbomachinery market is bound to increase with an increase in gas production.
However, with the renewable energy industry being in its infancy, the development of this field is expected to have some impact on the turbomachinery control system market.
In the United States, from 2014, there has been a constant decline in energy production from coal, which is being replaced by natural gas. In 2018 approximately 35.1% of the US electricity was produced from natural gas compared to 27.5% in 2014, coal being dropped from 38.6% in 2014 to 27.4% in 2018, indicating growth for the turbomachinery control system market.
A similar shift in trend from conventional fuel-based power generation to gas-based power generation can be seen globally, resulting in an increased demand for turbines and compressors, which is likely to drive the demand for turbomachinery control systems during the forecast period.
The fall in crude oil prices has affected the global upstream industry many times. However, these drops have opened a way for downstream industries to take advantage of cheaper feedstock.
Therefore, with a number of factors included, it can be said that the demand for turbomachinery control systems, retrofitting, and ancillary services is expected to grow significantly during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific has the fastest growth rate, owing to the developing economies, like India and China, and developed economies, like Japan and Australia.
With the recent huge development in City Gas Distribution in India and an investment of USD 16.7 billion by 2030, the country is becoming a huge market for turbomachinery control systems.
India is also investing in its refining and petrochemical industry. India's refining capacity was 22495.43 TMT in March 2019, up by 6.51% from March 2018. Recently, Saudi Aramco announced that it is investing for a 20% stake in Reliance's oil to chemical (O2C) division, at an enterprise value of USD 75 billion.
Over the past few years, China's coal plant fleet expansion has slowed down, paving the way for gas-based energy production in the country. China's energy demand is continuously increasing. Both factors indicate a demand growth of turbines and compressors, leading to a growth of the turbomachinery control system market.
The refining capacity of China has seen a continuous growth in the past, and it is forecast to continue in the coming years. In March 2019, Wood was awarded a new contract from Sinochem Quanzhou Petrochemical for its 1 MTA ethylene and refinery expansion project in China. This growth in refining capacities and slowdown in energy production from coal are expected to boost the turbomachinery control system market, as refineries and gas-based power production plants are a significant consumer of this market.
Therefore, the growth in the chemical industry and increased usage of natural gas for industrial and power generation are expected to be the major driving factors for the market in the region, which is on a growing trend and is expected to do so during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast for Turbomachinery Control Systems, Retrofitting, and Ancillary Services in USD billion, until 2025
4.3 Market Size and Demand Forecast for Turbines and Compressors in USD billion, until 2025
4.4 Recent Trends and Developments
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Industry Attractiveness – Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Application
5.2 End-user Industry
5.3 Service Type
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/4fsrqp
View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005482/en/
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
The Mad Money host says the virtual world will transform many industries.
When stocks fall in price, it’s frequently a signal for renewed investor interest. After all, low share prices offer a chance to live up to the old market advice, ‘buy low and sell high.’ What investors need is some way to tell the underlying reasons for a drop in share price, whether it bodes well or ill for the stock. One of the best stock signals comes from corporate insiders, the company officers who hold positions of high responsibility – to their Boards, and to their peers, and to their sh
Shares of Alibaba (NYSE: BABA) stock bounced back from yesterday's tech sell-off, gaining 6.5% through 1:25 p.m. ET Tuesday as stock market analysts debated whether the company's just-announced turnaround plan will work or not. Hong Kong-based investment bank CLSA led off with the bull argument, calling Alibaba stock "cheap" at its recent price under $123 a share. CLSA predicts that as Chinese consumer spending grows, as Alibaba expands further into international markets, and as Alibaba's own technology improves, these three "strategic engines" will propel the company's growth, reports TheFly.com.
Not every stock with big potential has shot through the roof this year.
Tesla CEO Elon Musk said he had sold "enough stock" to reach his plan to sell 10% of his shares in the world's most valuable car company, according to an interview released on Tuesday. The billionaire, who moved the company's headquarters from California to Texas this month after his personal move last year, also slammed California for "overtaxation." Tesla shares, which had hovered near record-highs, lost about a quarter of their value after Musk said on Nov. 6 he would sell 10% of his stake if Twitter users agreed.
With less than two weeks remaining in 2021, the major Wall Street firms and analysts have pulled out their crystal balls to peer through the curtains at what awaits for 2022. It’s an annual habit, and one that investors pay close attention to; while the forecasts are not always perfect, they do give a fair perspective of marketing terrain. According to investment banking firm Raymond James, there are going to be plenty of opportunities in the year ahead. The firm's stock analysts have been busy
Bank of America unveiled its top stocks for next year among the 11 S&P 500 sectors. But its track record isn't great.
In this article, we’ll discuss Jim Cramer’s most favorite tech stocks to buy now. You can skip our detailed analysis of Cramer’s background and tech stocks, and go directly to read Jim Cramer’s 5 Most Favorite Tech Stocks to Buy Now. Jim Cramer is one of the most prominent names in the investment world. His […]
Electric vehicle stock Nio (NYSE: NIO) rebounded sharply on Tuesday, surging 6.3% as of 12:15 p.m. ET. The broader market rebound, ever-rising demand for new energy vehicle (NEV) sales in China, the U.S. Environmental Protection Agency's (EPA) latest greenhouse gas emission standards that hugely favor EVs, and Nio's own growth plans are just some of the factors that sent the EV stock flying. Investors wanting to cash in on the EV boom seemed to have found multiple reasons to buy Nio shares today.
The Dow Jones and the Nasdaq rallied. President Joe Biden hinted at a Build Back Better deal with Joe Manchin. Nike stock popped.
Real estate investment trusts (REITs) can be a great solution here, and there are many boasting long records of consistent, growing paybacks. Realty Income is one of the most popular of all REITs and for good reason.
With me on the call today are Executive Chair and Chief Executive Officer, John Chen; and Chief Financial Officer, Steve Rai. After I read our cautionary notes regarding forward-looking statements, John will provide a business update, and Steve will review the financial results.
Shares of Carnival Corporation (NYSE: CCL) jumped another 8.1% in Tuesday trading, followed by Norwegian Cruise Line Holdings (NYSE: NCLH), up 5.8%, and Royal Caribbean (NYSE: RCL), up 5%, as cruise stock investors continued to react to Carnival Corporation's fourth-quarter earnings report yesterday. And it admitted that despite a revival in cruising, it's still burning cash at the rate of more than half a billion dollars per month.
The stock market rallied on omicron Covid headlines, but will that booster last? Micron, AMD and travel stocks led.
The ARK Invest CEO argues that index funds are overvalued, while "stay at home" stocks are now trading at a discount.
Good things normally come to those who wait. But you might not want to hold off selling some of 2021's top S&P 500 stocks, analysts say.
BlackBerry Limited (NYSE: BB; TSX: BB) today reported financial results for the three months ended November 30, 2021 (all figures in U.S. dollars and U.S. GAAP, except where otherwise indicated).
BlackBerry Ltd. shares rose in the extended session Tuesday after the cybersecurity and IoT company's quarterly results came in better than expected.
The new week kicked off on a negative note, as all 3 major indexes pulled back from record highs. The uncertainty about the COVID-19 Omicron variant cast a pall over investors already cautious about the impact of rising inflation. But according to RBC chief US equity strategist Lori Calvasina, investors shouldn’t get too worked up. In fact, Calvasina takes a guardedly optimistic view of 2022. At the bottom line, Calvasina writes, “We continue to expect 2022 to be a year of solid but more moderat
(Bloomberg) — Tsinghua Unigroup Co.’s chairman has vowed to “fight to the end” a secretive fund’s takeover proposal, amplifying an unusually public dispute over the troubled chipmaker’s $9 billion rescue plan.Most Read from BloombergFDA Expected to Authorize Pfizer and Merck Covid Pills This WeekModerna’s Third Dose Boosts Antibodies Against OmicronIsrael to Offer Fourth Shots; N.Y. Cancels Exams: Virus UpdateExtreme Bidding Wars Are Raging in One of World’s Riskiest Housing MarketsOmicron Beco

source