NEW YORK, Nov. 29, 2023 /PRNewswire/ — The automatic generation control market is expected to grow by USD 257.3 million from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 3.78% during the forecast period, according to Technavio. An increase in the number of residential and commercial building projects is notably driving the automatic generation control market. However, factors such as threats from cyber-attacks in automatic generation control systems may impede market growth.
The market is segmented by application (non-renewable energy power plants and renewable energy power plants), type (turbine governor control, load frequency control, and economic dispatch), and geography (North America, APAC, Europe, South America, and the Middle East and Africa). We provide a detailed analysis of 20 companies operating in the automatic generation control market including ABB Ltd., Andritz AG, DEIF AS, Emerson Electric Co., ENERCON GmbH, ETAP Operation Technology Inc., General Electric Co., Hitachi Ltd., Honeywell International Inc., Hubbell Inc., Larsen and Toubro Ltd., Mitsubishi Electric Corp., Regal Beloit Corp., Rockwell Automation Inc., Schneider Electric SE, Schweitzer Engineering Laboratories Inc., Siemens AG, Suzlon Energy Ltd., Wartsila Corp., and Yokogawa Electric Corp.
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Automatic Generation Control Market 2024-2028: Company Analysis
ABB Ltd. – The company offers automatic generation control solutions to help maintain stable plant operation of frequency and voltage and coordinated control of generator power outputs.
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Automatic Generation Control Market 2024-2028: Segmentation
Application
- The non-renewable energy power plants segment is estimated to witness significant growth during the forecast period. The capacity to generate a large amount of energy that can be readily available and used, conveniently transported from one country to the next, or stored efficiently is one of the benefits offered by NREPPs. This urges governments to take up investments in NRPs.
- Type (turbine governor control, load frequency control, and economic dispatch)
Geography
- APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to market players is North America. The growing residential and commercial sector of North America is likely to lead to an increase in power demand, thus leading to the need for automatic generation control.
- North America, Europe, South America, and Middle East and Africa
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Automatic Generation Control Market 2024-2028: Key Highlights
- Historic Market Size 2018-2022
- CAGR of the market during 2024-2028
- Detailed information on factors that will assist automatic generation control market growth during the next five years
- Estimation of the automatic generation control market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the automatic generation control market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of automatic generation control market companies
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
