Steam Turbine Market Growth Analysis 2024 By Top Key Players - Siemens AG, Toshiba Corporation, General Electric Company, Mitsubishi Hitachi Power Systems, Ltd., Eliott Group, Ansaldo Energia S.P.A., Dongfang Electric Corporation Limited, BHEL & More
UK steam turbine market is set to surpass USD 190 million by 2024. Shifting trends toward cogeneration and CHP based electricity generating plants along with strict regulatory norms toward coal-based power plants will propel the industry outlook. Refurbishment of existing generating stations with an aim to reduce carbon emissions and improve efficiency will stimulate the business growth.
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Players operating in the global Steam Turbine market include Siemens AG, Toshiba Corporation, General Electric Company, Mitsubishi Hitachi Power Systems, Ltd., Eliott Group, Ansaldo Energia S.P.A., Dongfang Electric Corporation Limited, BHEL, Harbin Turbine Company Limited, Doosan Skoda Power, Fuji Electric Co., Ltd., Man Diesel & Turbo SE, Kawasaki Heavy Industries Ltd., Peter Brotherhood Ltd., Shin Nippon Machinery, Turboatom, Mitsui Engineering & Shipbuilding, Chola Turbo Machinery International Pvt. Ltd., TurboTech Precision Engineering Pvt. Ltd, PBS ENERGO
Historical data from 2013 is provided for Steam Turbine Market along with estimates and forecasts to 2024 based on segmentation of Steam Turbine Industry by Design, By Exhaust, By Fuel, companies and regions. Previous years’ data offers fact based information on trends and growth graph while the forecasts aim to show an outlook of Steam Turbine market for the next few years keeping in mind the advancements happening in the sector.
Steam Turbine Market is predicted to surpass USD 24 Billion by 2024.
Stringent government norms to promote clean fuels along with accelerating investments toward the development of thermal power plants will foster the industry growth. Growing inclination toward the efficient consumption of energy will further stimulate the business outlook. According to EIA, in last five years the combined cycle capacity has amplified by 14% across the U.S.
The growing need to alleviate the demand and supply of electricity along with enduring efforts of major corporates to invest in and develop large thermal power projects will continue to boost global steam turbine market size in the coming years. Steam turbines are significant items of machinery, commonly used to turn generators to produce electricity or create propulsions for ships, missiles, and airplanes. Lately, the increasing measures towards energy conservation and reducing carbon footprints is set to enhance the demand for steam turbines, particularly solar-powered steam turbines as it has the slightest impact on the environment due to less carbon emission.
Growing manufacturing sector coupled with rapid economic expansion across the country will propel the steam turbine market in China. Paradigm shift toward various cogeneration technologies owing to the governments ambitious targets to reduce emissions will positively influence the industry growth. China has planned to install CHP and biomass based generating stations of 12 MW capacity by 2020 & 25 GW by 2035.
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Ongoing deployment of coal-based plants across the Africa owing to low fuel prices and improved efficiency will stimulate the condensing steam turbine market. Low maintenance cost, improved efficiencies, high thermal efficiency and reduced carbon footprints are some of the prominent features which will stimulate the product adoption. In addition, the rising power demand across the emerging economies along with stringent regulatory measures to enhance the electricity demand will foster the industry outlook.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Steam Turbine Industry Insights
Chapter 4. Steam Turbine Market, By Design
Chapter 5. Steam Turbine Market, By Exhaust
Chapter 6. Steam Turbine Market, By Fuel
Chapter 7. Steam Turbine Market, By End-use
Chapter 8. Steam Turbine Market, By Capacity
Chapter 9. Steam Turbine Market, By Technology
Chapter 10. Steam Turbine Market, By Region
Chapter 11. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/steam-turbine-market
Global Condensing Steam Turbine Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
This report focuses on the Condensing Steam Turbine in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
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