Europe Automation in Combined Heat and Power Market Size, Share & Industry Trends Analysis Report By Component (Controllers, Sensors, Switches & Relays, Drives, and Others), By Control & Safety System, By Country and Growth Forecast, 2022 - 2028
The Europe Automation in Combined Heat and Power Market would witness market growth of 6.5% CAGR during the forecast period (2022-2028).
Every CHP plant has energy management controls, and it's critical to be able to balance various energy sources in real-time. The plant must continuously satiate all energy customers as it produces electricity using district heat and/or process steam. Boilers and turbines must work in harmony with CHP facilities' energy management controls to reduce production costs while upholding environmental compliance.
Gaining the most from heat and/or electricity generation during the whole plant lifecycle is undoubtedly the top priority for all power producers. Installing sophisticated process control software makes it possible. Successful boiler operation depends heavily on stable and effective combustion. Changes in loads, fuel quality, and combustion conditions disrupt combustion. As a result, flue gas emissions and flue gas oxygen content rise, and boiler efficiency decline.
The German industry has a long history of using CHP. When there is a constant need for heat and electricity, CHP facilities are advantageous economically and environmentally. There is always a need for heat at industrial sites since process heat, not space heating, accounts for the majority of the industry's heat needs. Technically, CHP may be used to meet about 48% of industrial heat requirements. The remaining component cannot be produced in CHP plants since it is used at a temperature above 400 °C, such as in the iron and steel sector. The bigger CHP German industry propels the adoption of the automation in combined heat and power market in this region.
The Germany market dominated the Europe Automation in Combined Heat and Power Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.5 billion by 2028. The UK market would showcase a CAGR of 5.6% during (2022 - 2028). Additionally, The France market is experiencing a CAGR of 7.2% during (2022 - 2028).
Based on Component, the market is segmented into Controllers, Sensors, Switches & Relays, Drives, and Others. Based on Control & Safety System, the market is segmented into Supervisory Control & Data Acquisition System (SCADA), Programmable Logic Controller (PLC), Human Machine Interface (HMI), Distributed Control System (DCS), and Systems Instrumented Systems (SIS). Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, ABB Group, Honeywell International, Inc., Schneider Electric SE, Siemens AG, Emerson Electric Co., Mitsubishi Electric Corporation, Valmet Oyj, Yokogawa Electric Corporation and Rockwell Automation, Inc.
Scope of the Study
Market Segments covered in the Report:
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