Global Steam Turbine for Power Generation Market Set to Grow USD 35 Billion by 2026

Findings from Facts and Factors report "Steam Turbine For Power Generation Market By Fuel (Gas, Coal, Nuclear, and Others), Capacity (< 120 MW, 121 MW -350 MW, 351 MW -750 MW, and > 750 MW) and By Application (Energy & Power, Industrial, Petrochemical, Transport, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020-2026" states that the global Steam Turbine For Power Generation market in 2019 was approximately USD 10 Billion. The market is expected to grow at around CAGR of 6% and is anticipated to reach around USD 35 Billion by 2026.

Request to Access Free Sample @ http://bit.ly/2TXyDtE

(The sample pages of this report is immediately accessible on demand).

This Free report sample includes:

The report covers present status and future prospects.
The report analyses market trends, size, and forecast in different geographically.
The report provides market competition overview among the Top companies.
The report provides a complete analysis of the current and emerging market trends and opportunities.
Example pages from the report.
FnF research methodology.

The steam turbine is a mechanical device that is powered by steam and is used to take out pressurized thermal energy from the steam and carries out mechanical work on a rotating shaft. It generally converts most of the energy from the steam into kinetic energy. A steam turbine is a combination of various components like boiler, condenser, turbine, feed pumps and a variety of additional devices. As the steam turbine is a movable heat engine, it is mainly used for driving an electric generator. It is used to produce electricity and run a generator.

There are multiple factors that are triggering the demand for steam turbines market. Due to the accelerating growth in population and improving standards of living in developing countries, it is necessary to fulfill the demands of this growing population. An increase in the adoption of combined-cycle natural gas plants as they use smaller megawatt turbines and is a cleaner option as compared with nonrenewable sources has significantly helped in driving the market of the steam turbines market. But countries like the USA, Germany, and other developed countries are imposing certain restrictions on fossil fuel-fired power plants due to an increase in the climatic crisis. Nuclear power plants are considered to be a clean source as compared with the fossil fuel-fired power plants, but due to slowdown in the construction of these nuclear power plants is hindering the growth of the steam turbines market. However, there are several opportunities where the market can expect to regain its strength such as the upgradation or replacement of the aged power generation infrastructure as the input and output ratio of the power gets aged over time and does not deliver the desired results which in turn results in the wastage of power. There is also an increase in the demand for nuclear energy-based electricity generation which is expected to open up new growth opportunities in the market.

Make An Inquiry About This Report @ http://bit.ly/2QnYQPV

(You may enquire a report quote OR available discount offers to our sales team before purchase.)

As per the Fuel type analysis, Coal as a fuel is expected to dominate the market as compared with other sources due to its abundant availability and also the lower cost in the generation of electricity through coal-firing power plants. As per the Capacity type analysis, 121 MW -350 MW is expected to dominate the market as they are low capacity power units and turbines of this capacity mostly work in combined heat and power(CHP) units that are useful for the generation of heat and electrical power from gas simultaneously and provide better efficiency as compared with the single unit. As per the application analysis, Energy & Power is expected to dominate the market as there is an increasing demand for electrification with the adaption of effective technologies through the encouragement of several government initiatives.

Explore Complete TOC/ Ask for Customization @ http://bit.ly/2WgpCxs

(This report can be customized to meet the client's requirements. Please connect with our sales team, to customize your report according to research needs).

The Asia Pacific region is expected to emerge as a major competitor for other regions in the utilization of the steam engines. There is a growing requirement for energy ar the domestic and industrial level as maximum countries in this region are developing countries and they still rely on the power generation plants that are powered by coal-fire as it is cost-effective. Due to the abundance of availability of natural resources and economical labor power, these countries prefer the power generation using coal-fire. Many countries of this region prefer the construction of thermal plants and usage of steam turbines as they are not able to provide 24 hours electricity due to its vast geographical diversity and even to the people staying in rural and densely forest-covered areas. To achieve the objective of providing power to every citizen, steam turbine power generation is considered to be the most inexpensive way.

The list of key players in the Steam Turbine Market for Power Generation are:

Alstom
Siemens AG
General Electric Company
Mitsubishi Hitachi Power Systems
Bharat Heavy Electricals Limited
Elliott Group
MAN Diesel & Turbo
Dongfang Turbine Company Limited
Others

This report segments the Steam Turbine For Power Generation market as follows:

Global Steam Turbine For Power Generation Market: By Fuel Segmentation Analysis

Gas
Coal
Nuclear
Others

Global Steam Turbine For Power Generation Market: By Capacity Segmentation Analysis

< 120 MW
121 MW -350 MW
351 MW -750 MW
> 750 MW

Global Steam Turbine For Power Generation Market: By Application Segmentation Analysis

Energy & Power
Industrial
Petrochemical
Transport
Others

Global Steam Turbine For Power Generation Market: Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
The UK
France
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa

Contact Us:

Facts & Factors

Global Headquarters

Level 8, International Finance Center, Tower 2,
8 Century Avenue, Shanghai,
Postal - 200120, China
Tel: +86 21 80360450

Email: sales@fnfresearch.com

Web: https://www.fnfresearch.com

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client's/customer's conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

This release was published on openPR.