October 03, 2022 06:35 ET | Source: ReportLinker ReportLinker

New York, Oct. 03, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Automation in Combined Heat and Power Market Size, Share & Industry Trends Analysis Report By Component, By Control & Safety System, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06321835/?utm_source=GNW Additionally, it is utilized to boost plant productivity and requires less labor than the conventional one. Power plants can estimate flue gas emissions due to automation, which also helps them react pro-actively and quickly to possible issues. The emphasis on industrial automation and resource efficiency, as well as the use of cutting-edge technologies like IoT and AI in industrial settings, are predicted to be the main drivers of growth in the market for combined heat and power automation. Additionally, the concept of connected enterprises is emerging, which accelerates market growth overall. Production efficiency, actual costs, lifetime costs, emissions, and all of their interdependencies can be measured, calculated, estimated, and monitored due to automation. It helps the factory control and optimizes its processes appropriately. The owners and builders of brand-new, sizable combined heat and power (CHP) power plants are fully aware of the advantages of automation. However, in smaller units, not all users are currently aware of the major advantages that modern automation offers over a more straightforward PLC system, both in terms of benefits and cost. COVID-19 Impact Analysis The COVID-19 disease pandemic has had a significant impact on production and industrial operations, which has also hindered market growth for automation in combined heat and power generation. The COVID-19 pandemic has also affected the electronics industry since production facilities have slowed down, which has increased demand for electronics and semiconductor products in these sectors. Its main effects include a substantial manufacturing disruption throughout Europe and a halt in Chinese part shipments, which limit the market opportunity for automation in combined heat and power systems. Market Growth Factor The distribution of power production is increasing Power creation at or near the point of usage is known as distributed generation. Previously, electricity was distributed using low-voltage DC systems at tiny power plants. Electric supply and mechanical tasks can both be accomplished via distributed generating providing torque to move objects. Systems having a capacity of less than 100 MW, whether permanent or mobile, are referred to as distributed generation systems. Distributed generation can enable the delivery of clean, dependable power to more consumers and minimize electricity losses across transmission and distribution lines when linked to the electric utility’s lower voltage distribution lines. Combined heat and power can benefit from automation One more advantage of automation is that it enables quick responses when they are most needed. Software for automating business processes can parse incoming data from emails, web forms, social networks, system data, etc. After then, it can notify of events like complaints or service interruptions. Incoming message replies can also be handled via automation. As a result, when something goes wrong, resolutions happen more quickly. The advantages of automation are all excellent on their own. Market Restraining Factor Automation in combined heat and power system installation and upkeep expenses are rising The large initial capital expense needed for installation is one of the greatest disadvantages of establishing a CHP plant. CHP facilities need additional equipment such as heat exchangers, boilers, absorption chillers, and other equipment in addition to the power generation equipment like prime mover, generator systems, and others. A key barrier to the growth of the CHP business is the cost of a typical CHP plant, which can be about 240% higher than the cost of a power production plant with equivalent capacity and prime mover. The great efficiency of the CHP requires routine maintenance of every component, which drives up overall maintenance expenses and hampers the growth of the automation in combined heat and power market. Component Outlook Based on the Component, the Automation in Combined Heat and Power Market is divided into Sensors, Controllers, Switches & Relays, Drives, and Others. The sensors segment witnessed a significant revenue share in automation in the combined heat and power market in 2021. This is frequently referred to as a "dump radiator," and it is typically managed by a valve coupled to a temperature sensor on the CHP package’s return water input. The valve opens if the water temperature rises beyond a certain threshold, allowing water to flow into the dump radiators and then back into the return piping system. Control & Safety System Outlook On the basis of Control and Safety System, the Automation in Combined Heat and Power Market is segmented into Distributed Control System (DCS), Supervisory control & data acquisition system (SCADA), Systems instrumented systems (SIS), Programmable Logic Controller (PLC), and Human machine interface (HMI). The Supervisory control & data acquisition system (SCADA) segment procured the largest revenue share in the automation in the combined heat and power market in 2021. It is because it manages the operator interfaces that allow monitoring and the issuance of process directives, such as changing the controller set point. The SCADA concept was created to be a common method of remote access to various local control modules from various manufacturers while providing access through standard automation protocols. Regional Outlook Region-wise, the Automation in Combined Heat and Power Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region garnered a promising revenue share in the automation in the combined heat and power market in 2021. It is because of technology advancements, ongoing power generation projects, and infrastructure upgrades. China and India are driving the growth in power output and consumption in the area, which is the world’s largest user of energy. Asia Pacific offers enormous potential for combined heat and power, largely because of China’s rapid economic development and the switch from coal-based to gas-fired power generation. The major strategies followed by the market participants are Partnership. Based on the Analysis presented in the Cardinal matrix; Siemens AG, Honeywell International, Inc. and ABB Group are the forerunners in the Automation in Combined Heat and Power. Companies such as Schneider Electric SE, Emerson Electric Co. and Mitsubishi Electric Corporation are some of the key innovators in Automation in Combined Heat and Power. 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. Recent strategies deployed in Automation in Combined Heat and Power Market Partnership, Collaboration and Agreement Jun-2022: Emerson signed an agreement with Jotun, a Norwegian multinational chemicals business. This agreement would allow Jotun to execute Emerson’s digital technologies to improve all elements of manufacturing automation in new plants. Mar-2022: Omron Automation partnered with RAMP, a technology development corporation. Under this partnership, RAMP’s product and process knowledge of automation and tooling, integrated with vast experience in machinery and systems strategy, delivers a complete turn-key solution that fulfills consumers’ performance and quality needs. Jan-2022: Mitsubishi Power came into a partnership with Stockholm Exergi, a Swedish energy corporation. Through this partnership, the companies aimed to modernize the combined heat and power (CHP) manufacturer, Kraftvärmeverk 1 (KVV1) at Värtaverket, Stockholm. Additionally, the upgrade also concerns automating the factory’s control system to an advanced distributed control system and establishing new low NOx burners to lower nitrogen dioxide emissions Feb-2021: Siemens signed an agreement with Guangdong Energy Group, a company with centennial historical inheritance. This agreement aimed to deliver F-class gas turbine island tools for the Zhaoqing Dinghu Combined Heat and Power (CHP) generation project in Dinghu District, Zhaoqing City, Guangdong Province. Additionally, the CHP plant is positioned at 2×460MW and contains two SGT5-4000F four generators, gas turbines, two steam turbines, two SPPA-T3000 control systems, and related extra tools. Sep-2020: Schneider Electric joined hands with Walmart, an American multinational retail business. With this collaboration, the companies aimed to deliver the improved permit for renewable energy for Walmart’s US-based suppliers. Additionally, the collaboration aims to add renewable generation ability to the US grid by making greater key to large-scale, renewable energy. Aug-2020: Emerson joined hands with Mitsubishi Power, an energy solutions business. Through this partnership, the companies aimed to improve the execution and dependability of power plants operating, AI-driven supervision systems, and automated functional decision-making. Acquisitions & Mergers Apr-2022: Valmet Oyj formed a merger with Neles, structures and manufactures industrial valves and valve automation solutions. With this merger, Valmet now has a special, even stronger portfolio for global process enterprises and a solid medium for further company growth, particularly in automation systems and flow control solutions. Dec-2021: Yokogawa completed the acquisition of the PXiSE, a Developer of High-speed Control Software for Grids and Renewable Energy Assets. Through this acquisition, Yokogawa would develop its abilities in the monitoring and managing of power generation establishments and assist consumers in the power transmission and distribution sectors to fulfill their clean energy objectives. Jul-2021: Valmet took over EWK Umwelttechnik, a German company supplying and manufacturing air emission control systems. Through this acquisition, the company aimed to reinforce its environmental systems industry, concentrating on power plants and the pulp and paper business, in Finland. Oct-2020: Emerson took over Progea Group, an industry-leading supplier of industrial internet of things. With this acquisition, Progea’s abilities in industrial visualization, analytics, and IIoT would create upon Emerson’s embedded software and control offering for manufacturing, infrastructure, and creating automation applications and allow consumers to simplify complete machine and plant control systems to a single partner. Product Expansion & Product Launch Jul-2021: OMRON Corporation unveiled G9KA High Power PCB Relay. The new product enhances the power generation efficiency of PV generation systems by reducing energy loss induced by the heat generated by power supply equipment, power conditioners, and connected tools used in solar power generation systems. Geographic Expansion Jan-2021: Emerson’s expanded its geographical expansion by establishing the 980-megawatt Magnolia Combined Cycle Power Plant in Mississippi. With this expansion, the company aimed to substitute existing systems with Emerson’s Ovation Automation software that provides simulation technology, control system, and cybersecurity protection. Additionally, digital twin simulations would be utilized to deliver advanced training to operators. Scope of the Study Market Segments covered in the Report: By Component • Controllers • Sensors • Switches & Relays • Drives • Others By Control & Safety System • Supervisory Control & Data Acquisition System (SCADA) • Programmable Logic Controller (PLC) • Human Machine Interface (HMI) • Distributed Control System (DCS) • Systems Instrumented Systems (SIS) By Geography • North America o US o Canada o Mexico o Rest of North America • Europe o Germany o UK o France o Russia o Spain o Italy o Rest of Europe • Asia Pacific o China o Japan o India o South Korea o Singapore o Malaysia o Rest of Asia Pacific • LAMEA o Brazil o Argentina o UAE o Saudi Arabia o South Africa o Nigeria o Rest of LAMEA Companies Profiled • Omron Corporation • ABB Group • Honeywell International, Inc. • Schneider Electric SE • Siemens AG • Emerson Electric Co. • Mitsubishi Electric Corporation • Valmet Oyj • Yokogawa Electric Corporation • Rockwell Automation, Inc. Unique Offerings • Exhaustive coverage • Highest number of market tables and figures • Subscription based model available • Guaranteed best price • Assured post sales research support with 10% customization free Read the full report: https://www.reportlinker.com/p06321835/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________