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Turbo Generator Market Dynamics, Forecast, Analysis And Supply Demand 2017 – 2025
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The usage of turbo generators as an alternative energy source derived from fossil fuels is a major driver of the turbo generator market. Advancements and technological inventions are leading to a reduction in manufacturing costs. Environmental litigations and government subsidies are granted to curb environmental pollution. Apart from turbines, turbo generators are also used in isolated networks and generator starters. Furthermore, turbo generators are primarily used as a standby and also as an emergency source of power.
High cost of production is poised to be a major restraint of the turbo generator market. Generation of energy are still dependent on fossilized fuels such as coal and oil & gas. Safety of the crew needs to be considered during installation of turbo generators. Maintenance cost of turbo generator are high.
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Key players operating in the turbo generator market are General Electric, Inc., Mitsubishi Hitachi Power Systems, Suzlon Energy Ltd, BHEL, and Siemens AG.
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