Global Steam Turbines Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Steam Turbines Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global steam turbines market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global steam turbines market report has been segmented on the basis of type, rated capacity, exhaust type, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Steam turbines are type of turbines that are powered by gaseous and hot steam, and in turn use its energy for mechanical work such as rotating output shaft. Its function is similar to water and wind turbine as it has spinning blades which turn when stream is blown past them and like water turbine as blades of steam turbine fit inside a sealed outer container so that steam is controlled and forced past them at high speed. In order to create steam for steam turbines, water is pumped at high pressure in to the boiler and using heat form combustion process steam is created. Steam is passed through turbines that help to rotate the shaft which is connected to the electric generator.
Growing demand for electricity, owing its increasing consumption for various applications is a major factor driving growth of the global steam turbines market. Power generation of steam turbines operates as a closed cycle and is not affected by external atmospheric conditions. It also has high operating efficiency and reliability. These factor also support growth of the global market. In addition, boiler of steam turbines has ability to burn various types of fuels is another factor expected to fuel growth of the target market. Furthermore, growing cogeneration operation and combined cycles is a factor expected to boost growth of the global steam turbines market in the near future.
However, regulations on fossil fuel power plants may hamper growth of the global steam turbines market. Nevertheless, upgradation of power plants can create revenue opportunities for the key players in the global market.
On the basis of application, the coal segment anticipated to witness high growth in the near future. High use of coal for power generation especially developing countries, owing to is affordable coat and easy availability are factors driving growth of the global market.
Market in Asia Pacific accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. High use of thermal power for energy generation is a key factor propelling growth of the target market in this region. In addition, growing use of steam turbines especially in China and India are also factor anticipated to support growth of the steam turbine market in Asia Pacific region. Increasing concerns regarding carbon emission and growing preference for clean energy are factor expected to affect growth of the global steam turbine market in terms of revenue in the near future.
Global Steam Turbines Market Segmentation:
Segmentation by type:
- Combined Cycle
- Steam Cycle
Segmentation by rated capacity:
- Above 750 MW
- 351-750 MW
- 121-350 MW
- 1-120 MW
Segmentation by exhaust type:
Segmentation by application:
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Alstom SA
- Siemens AG
- General Electric Company
- Mitsubishi Hitachi Power Systems, Ltd.
- Toshiba Corporation
- Elliott Group Ltd.
- Ansaldo Energia S.P.A.
- Shanghai Electric Group Company Limited
- Dongfang Electric Corporation Limited
- Harbin Electric International Company Limited
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