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Steam Turbine Market 2023- Size, Future Trends, Global Demand, Growth And Forecast To 2032
Steam Turbine Market Analysis
As per the steam turbine market report by The Business Research Company, the increase in focus on renewable energy is expected to propel the growth of the steam turbine market. Renewable energy, also identified as clean energy, provides consistent power supplies and fuel diversification, improving energy security and reducing the risk of fuel spills.
The global steam turbine market size grew from $16.94 billion in 2022 to $17.59 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The steam turbine market size is expected to grow to $21.02 billion in 2027 at a CAGR of 4.6%.
Read More On The Steam Turbine Market Report Here:
https://www.thebusinessresearchcompany.com/report/steam-turbine-global-market-report
Major competitors in the steam turbine market include General Electric (GE) Co, Fuji Electric, Toshiba Corporation, Siemens, Arani Power Systems, Elliott Group, Doosan Škoda Power, Chola Turbo Machinery International Pvt Ltd., Mitsubishi Hitachi Power Systems, Ansaldo Energia, Bharat Heavy Electricals Limited, MAN Energy Solutions, DONGFANG TURBINE, Kawasaki Heavy Industries, Harbin Electric, AIstom SA, Toshiba JSW Power Systems Private Limited, Kessels Steam Turbines and Hyundai Heavy Industries.
The steam turbine market is segmented -
• By Plant Type: Gas, Coal, Nuclear, Other Plant Types
• By Capacity: Rated Power (200MW)
• By Technology: Steam Cycle, Combined Cycle, Cogeneration
• By Design: Reaction, Impulse
• By End-Use Industry: Power And Utility, Industrial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the steam turbine market.
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The steam turbine refers to a machine that converts thermal energy from pressurized steam and transforms it into mechanical work on a rotating output shaft. It uses heat sources such as gas, coal, nuclear, and solar to heat water at extremely high temperatures until it is converted into steam. The main parts of stream turbines are rotors and blades.
The Table Of Content For The Steam Turbine Market Include:
1. Executive Summary
2. Steam Turbine Market Characteristics
3. Steam Turbine Market Trends And Strategies
4. Steam Turbine Market - Macro Economic Scenario
5. Steam Turbine Market Size And Growth
……
26. Africa Steam Turbine Market
27. Steam Turbine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Steam Turbine Market
29. Steam Turbine Market Future Outlook and Potential Analysis
30. Appendix
The "Global Steam Turbine Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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