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New York, July 22, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announced the release of the report “Power Plant Control System Market by Plant Type, Solution, Components, Application, and Region-Global Forecast to 2026”- https://www.reportlinker.com/p05292511/?utm_source=GNW
During the forecast period, increasing data center investment is expected to become the largest single factor in the growth of the power plant control system market. However, due to the COVID-19 pandemic, the local currencies of many countries have depreciated. The imbalance between supply and demand results in economic losses for parts/parts manufacturers. The key components used to manufacture power plant control systems are usually purchased in U.S. dollars, which leads to increased component costs, which may hinder the growth of the power plant control system market.
It is estimated that from 2021 to 2026, the renewable energy sector will become the largest market.
The power plant control system market is divided into three parts by type, namely coal, natural gas, oil, hydroelectric power, nuclear power and renewable energy. Types of renewable power plants include solar, wind and biofuels.
Historically, fossil fuel-based plants, such as coal, oil and natural gas power plants, have been the main contributors to global power generation. However, due to increasing attention to decarbonization and global efforts to reduce carbon emissions, investment in fossil fuel plants for total power generation has fallen sharply.
Trends such as the decommissioning of coal-fired power plants (especially in Europe) and a significant slowdown in global new investment in fossil fuels are the main drivers of investment in renewable power plants. In the major markets of Europe, North America and the Asia-Pacific region, the global shift in power generation technology from fossil fuels to renewable energy is expected…
The full story on Benzinga.com
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