The global steam turbine market is garnering significant traction. The market growth attributes to the shifting focus from traditional to cleaner and renewable energy sources. Besides, increasing industrial uses such as generators at power plants and large ships that run on steam turbines market drive the growth of the market. Rising uses of smaller steam turbines to drive pumps and fans at petrochemical plants escalate the market growth.
According to a leading research firm Market Research Future (MRFR), the global steam turbine market is expected to garner a valuation of approximately USD 19.21 MN by the end of 2023. MRFR, in its recent market analysis, also asserts that the market would register 4.2% CAGR during the assessment period (2017-2023). The notable increase in the renewable energy sectors worldwide, alongside advances in manufacturing techniques and related technologies, define the market landscape.
Rising demand for power and increasing greenhouse gas emissions increase the market size, promoting renewable energy sources such as gas energy. Additionally, rising product development is a prime driver of market demand. Favorable government policies and receding fossil fuel reserves influence the growth of the market. Moreover, the advantages of condensing steam turbine accelerate market growth.
Furthermore, growing ecological concerns define the rising demand for clean, renewable, and sustainable power generation. Conversely, high initial capital investment requirements are the major factors projected to impede market growth. Nevertheless, augmented demand for sustainable power generation worldwide would support market growth during the assessment period.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/4618
Global Steam Turbine Market – Segments
The report is segmented into five dynamics;
By Plant Fuel : Coal, Gas, Nuclear, and others.
By Capacity : Up to 120 MW, 121-750 MW, and Above 750 MW.
By Exhaust Type : Condensing Steam Turbines and Non-Condensing Steam.
By End User Industry: Power & Utility, Industrial, and others.
By Regions : Europe, Asia Pacific, Americas, and the Rest-of-the-World.
Global Steam Turbine Market – Regional Analysis
The Asia Pacific region dominates the global steam turbine market. The growth is attributed to the augmenting demand for electricity in the region. Besides, the rising steam power generation due to the rising electric utility rates and power companies drive the regional market growth. The commencement of numerous gas power projects and a shift from the O&G sector boost the regional market growth.
Moreover, substantial investments in energy plants and equipment, augmenting adoption of pressure steam turbines, and growing power generation in the region substantiate the market growth. India and China hold substantial shares in the regional market, heading with momentous capacity additions. The APAC steam turbine market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global steam turbine market. The growth is driven by the high investments in gas energy sectors in the region. Additionally, favorable government regulations to promote renewable energy accelerate the revenue growth in the market. Also, the largest energy consumption has increased steam farm capacities.
Furthermore, the growing innovation and technological advances in pressure steam propel the growth of the regional market. Spain, the U.K., France, and Ireland hold considerable shares in the regional market due to the spurting growth in these countries' renewable energy sectors. The European steam turbine market is expected to witness the highest growth over the forecast period.
North America is a sizable market for steam turbines. Factors such as the saturation of natural gas locations and competition from solar energy foster the regional market's growth. The vast consumption of energy and rising awareness of renewable sources in the region substantiate market growth. The North American steam turbine market is expected to grow at a moderate rate during the assessment period.
Request for Report Discount: https://www.marketresearchfuture.com/sample_request/4618
Steam Turbine Market – Competitive Landscape
Highly competitive, the steam turbine market appears fragmented, with several notable players forming a competitive landscape. To gain a larger competitive share, industry players adopt strategic approaches such as mergers & acquisitions, collaborations, expansions, and product/technology launches.
Technology providers strive to develop new manufacturing techniques and larger & efficient turbine blades. They use time-tested methods and best practices to bring together various point systems and technologies into a security-rich, integrated environment to enhances resource planning and asset management.
Major Players:
- Siemens AG (Germany)
- Alstom SA (France)
- General Electric (US)
- Toshiba Corporation (Japan)
- Mitsubishi Hitachi Power Systems (Japan)
- ABB (Switzerland)
- Fuji Electric Co. Ltd.(Japan)
- Elliott Group (US)
- Man Diesel & Turbo SE (Germany )
Table Of Contents
1... Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3... Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
Continued…
Related Latest Report Explores :
https://letestresearchreports.blogspot.com/2021/01/steam-turbine-market-2021-competitive.html
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
Chola Turbo is one of the leading steam turbines manufacturer in India.
Our manufacturing unit is located in an industrial zone near Bangalore.
We are proudly manufacturing various classes of steam turbines form the last 2 decades.
Our steam turbines are fulfilling the needs of industries like bio-mass, waste-based independent power plants, captive power plants and, industries equipped with Co-generation units.
Apart from manufacturing we also perform turbine refurbishing and turnkey erection.
These works are performed by a team that consists of highly trained service personal and engineers.
Hydropower turbine are the most prevailing source of production of energy through nonpolluting sources such as low-head turbines, small hydro plants, and run-of river hydro plants.
Manufacturers focus on R activities to provide better quality of service, reliability, portability, accessibility, and performance.
In addition, rise in global population; need for unconventional energy sources; and increase in research, development, and maintenance activities supplement the market growth.
According to power generation capacity, it classified into less than 1,000 kW, over 10,000 kW, and between 1,000 kW & 10,000 kW.
Geographically, the market is analyzed across North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa.Request for Table of Contents: http://www.marketgrowthanalysis.com/reports/toc/199Key manufacturers operating in the industry are GE Energy, Siemens Wind Power, Urban Green Energy, International Aero Engines, Enercon, Suzlon Energy Limited, and others.
These key manufacturers have adopted new product launches, partnerships, collaborations, joint ventures, expansion, merger & acquisition, and others to strengthen their position and gain competitive advantage in the industry.Report Description: http://www.marketgrowthanalysis.com/hydropower-turbine-marketAbout Us:Market Growth Analysis is one of the leading digital services provider and a result-oriented company based in Canada.
Global Cogeneration Equipment Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 – DecisionDatabases.comThe comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.
The report classifies the market into different segments.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Final Report will cover the COVID-19 Impact and Recovery on this industry.Browse the complete Global Cogeneration Equipment Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027 @ https://www.decisiondatabases.com/ip/42573-cogeneration-equipment-market-reportThe report also covers the complete competitive landscape of the global Cogeneration Equipment market with company profiles of key players such as: American DG Energy(US)American DG Energy(US)Turner Crane(US)Allied Equipments(US)Caterpillar(US)GE Energy(US)Mitsubishi Heavy Industries(Japan)Baxi Group(UK)Siemens AG(Germany)Rolls Royce(UK)Alstorm Power(France)Cidea Uno Inc(US)Almeg Controls(Canada)Perry Process Equipment(UK)Green Energy(US)Solar Turbines Inc(US)The detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT: By TypeGas TurbinesSteam TurbinesElectric GeneratorsHeat Recovery Steam Generators (HRSG)Boilers and Reciprocating EnginesBy ApplicationPaperFoodChemicalOil and RefiningOthersBy Geography:North America (NA) – US, Canada, and MexicoEurope (EU) – UK, Germany, France, Italy, Russia, Spain & Rest of EuropeAsia-Pacific (APAC) – China, India, Japan, South Korea, Australia & Rest of APACLatin America (LA) – Brazil, Argentina, Peru, Chile & Rest of Latin AmericaMiddle East and Africa (MEA) – Saudi Arabia, UAE, Israel, South AfricaDownload Free Sample Report of Global Cogeneration Equipment Market @ https://www.decisiondatabases.com/contact/download-sample-42573The Global Cogeneration Equipment Market has been exhibited in detail in the following chapters – Chapter 1 Cogeneration Equipment Market PrefaceChapter 2 Executive SummaryChapter 3 Cogeneration Equipment Industry AnalysisChapter 4 Cogeneration Equipment Market Value Chain AnalysisChapter 5 Cogeneration Equipment Market Analysis By TypeChapter 6 Cogeneration Equipment Market Analysis By ApplicationChapter 7 Cogeneration Equipment Market Analysis By GeographyChapter 8 Competitive Landscape Of Cogeneration Equipment CompaniesChapter 9 Company Profiles Of Cogeneration Equipment IndustryPurchase the complete Global Cogeneration Equipment Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-42573Other Reports by DecisionDatabases.com:Global Gas Turbine Generators Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Wind Turbine Blade Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027Global Microturbines Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2027About-Us: DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
DecisionDatabases.com is proficient in providing syndicated research report, customized research reports, company profiles and industry databases across multiple domains.Our expert research analysts have been trained to map client’s research requirements to the correct research resource leading to a distinctive edge over its competitors.
The report delivers the challenges in front of the Marine Propulsion Engine Market that allows the better understanding of the market and provides the lucrative opportunities that are available.
Analyst has studied the current market scenario while concentrating on the new business objectives.
Study focuses on industry chain analysis, upstream and downstream raw material suppliers, key players, production process analysis, cost analysis, market distribution channels and major downstream buyers.Access sample report @ https://www.profsharemarketresearch.com/enquiry/marine-propulsion-engine-market-report-enquiry/The Marine Propulsion Engine Market Report delivers analysis of various organizations, affiliation and new businesses.
Research furthermore consolidates impact of government regulations and standards over the market.Research analysis covers historical data from the year 2015 to 2019,In addition to this report considers 2021-28 as the forecast year.
This helps manufacturers and clients understand the past trends and analyze the future trend.
Competitive development like expansion of the plant, ventures, agreement, and acquisition are discussed in the report.Access Full Report @ https://www.profsharemarketresearch.com/marine-propulsion-engine-market-report/Marine Propulsion Engine Market report is segmented based on below parameters:1.
Steam Turbine Market - OverviewMarket Research Future (MRFR) has released an extensive report on the Steam Turbine Market highlighting the key macro and micro-economic factors impacting the growth of the market over the forecast period of 2017-2023.
MRFR has asserted that the steam turbine market would reach USD 19.21 Bn at a CAGR of 4.2% over the forecast period.
Steam turbines are used in thermal electricity generation plants, one of the older methods of power generation.
Steam turbine consume less pace, have larger capacity and are designed for greater speed range.Steam turbine installations can significantly lead to incremental improvements in single power stations' operations due to which various power generation companies are investing in steam turbines to leverage the opportunity.
Steam turbines are also key in the nuclear sector.
Growing niche applications of steam turbines in concentrated solar power (CSP) where they contribute to emission-free energy facilities have been instrumental in driving the steam turbine market.
