NEW YORK, July 5, 2021 /PRNewswire/ -- The automation solution market in the renewable power generation industry is poised to grow by USD 3.45 billion during 2021-2025, progressing at a CAGR of over 5% during the forecast period.
Request a free sample report including COVID-19 impact analysis
Read the 120-page report with TOC on "Automation Solution Market in Renewable Power Generation Industry Analysis Report by End-user (Solar energy, Wind energy, and Others), Geography (APAC, North America, Europe, MEA, and South America), and the Segment Forecasts, 2021-2025".
The market is driven by the introduction of aggressive policies supporting renewable power. In addition, the inception of new business models is anticipated to boost the growth of the automation solution market in renewable power generation industry.
Growing concerns over GHG emissions are driving governments in both developed and developing countries to enforce stricter regulations and frame new policies that encourage the adoption of renewable sources for generating power. For instance, the Government of India set the target of increasing its renewable energy generation capacity from the current capacity of approximately 136 GW to 450 GW by 2030. Similarly, the US Environmental Protection Agency (EPA) has introduced certain guidelines that clearly state that power plants older than 25 years with capacities of over 50 MW must be upgraded. The introduction of such regulatory norms is attracting significant investments in the field of renewable power generation, which is also driving the demand for automation solutions.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five Automation Solution Companies:
ABB Ltd.
The company offers automation devices that deliver solutions such as Programmable Logic Controllers (PLCs), automation builder, control panels, and legacy products for renewable energy industry.
Beckhoff Automation GmbH and Co. KG
The company offers open automation systems using PC-based control technology. Various automation solutions offered by the company are Industrial PCs, drive technology, I/O and fieldbus components, and automation software.
Eaton Corporation Plc
The company offers a wide range of automation solutions such as electrical power monitoring system (EPMS), Power control and automation systems/PLC, industrial gateways, remote monitoring solutions, and solar monitoring solutions.
Hitachi Ltd.
The company offers Remote I/Os, inverters, and PLCs stand for highly integrated and discrete industrial automation solutions and smart manufacturing processes for the renewable power generation industry.
Mitsubishi Electric Corp.
The company offers a vast range of automation and processing technologies, comprising of controllers, power distribution and control products, drive products, electrical discharge machines, laser processing machines, electron beam machines, computerized numerical controllers, and industrial robots.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Automation Solution Market in Renewable Power Generation Industry End-user Outlook (Revenue, USD Billion, 2020-2025)
Automation Solution Market in Renewable Power Generation Industry Geography Outlook (Revenue, USD Billion, 2020-2025)
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Request a free sample report
Related Reports on Industrials Include:
Global Industrial Automation Control Market – Global industrial automation control market is segmented by product (sensors, DCS, drives, SCADA, and PLC), end-user (process industry and discrete industry), and geography (APAC, North America, Europe, South America, and MEA).
Download Exclusive Free Sample Report
Global Oil and Gas Drilling Automation Market – Global oil and gas drilling automation market is segmented by application (onshore and offshore) and geography (APAC, Europe, MEA, North America, and South America).
Download Exclusive Free Sample Report
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Report: www.technavio.com/report/automation-solution-market-in-renewable-power-generation-industry-analysis
Newsroom: newsroom.technavio.com/news/automation-solutionmarket
SOURCE Technavio
Share this article