Press release
Steam Turbine Market to reach USD 31.67 Bn by 2029, emerging at a CAGR of 2.4 percent and forecast 2023-2029
Steam Turbine Market
Maximize Market Research Pvt Ltd is pleased to announce the release of its in-depth report on the Global Steam Turbine Market. The report delves into market segments, including Capacity Type, Application, Design, Plant Type, and Region. It draws data from market participants across North America, Asia Pacific, Europe, Middle East & Africa, and South America. This comprehensive report provides a meticulous analysis of ongoing developments in various industry sectors. It offers historical data analysis spanning from 2018 to 2022 and investigates the drivers, limitations, prospects, and barriers within the Steam Turbine Market.
This report is the result of rigorous research and analysis conducted by Maximize Market Research Pvt Ltd. It is based on factual data, figures, illustrations, and presentations, ensuring accuracy and reliability. The report serves as a valuable resource for investors, offering recommendations derived from a detailed examination of the competitive landscape within the Steam Turbine Market.
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Steam Turbine Market Dynamics:
The global move towards renewable energies, driven by concerns about global warming and greenhouse gas emissions, is a significant market driver. The transition from coal-fired to gas-fired power plants, in the form of combined-cycle natural gas plants, enhances the role of steam turbines in providing reliable energy sources. Furthermore, the growing demand for electricity, especially from renewable energy sources, creates opportunities for market growth.
The high initial investment required for setting up steam turbines, involving factors like region selection, competition, government regulations, and infrastructure, poses a substantial barrier to market development. Installation costs vary across regions and technologies, making it challenging for the steam turbine market to grow during the forecast period.
Steam Turbine Market Regional Insights:
Europe, with a 40% market share in 2022, is a significant player in the Steam Turbine Market. Independent Power Producers (IPPs) using combined-cycle power plants have been instrumental in supplying electricity and steam to industrial customers in this region.
The Asia-Pacific region is expected to lead the market, driven by non-renewable energy resources and biomass-fired power plants. The rapid industrialization in countries like China and India fuels the demand for steam turbines.
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Steam Turbine Market Segmentation:
by Capacity Type
Up to 150 MW
151-300 MW
More than 300 MW
by Application
Power generation
Petrochemicals
Oil & gas
Others
by Design
Reaction
Impulse
by Plant Type
Gas
Coal
Nuclear
Other Plant Types
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Steam Turbine Market Key Players:
1. General Electric (GE) Co.
2. Turbine Generator Maintenance Inc.
3. Toshiba Corporation, Siemens AG
4. Arani power systems
5. Elliott Group
6. TURBOCAM
7. Doosan Škoda Power
8. Chola Turbo Machinery International Pvt. Ltd.
9. Mitsubishi Hitachi Power Systems Americas Inc.
10. Ansaldo Energia
Get to Know More About This Market Study:https://www.maximizemarketresearch.com/market-report/global-steam-turbine-market/29554/
Table of content for the Steam Turbine Market includes:
1. Global Steam Turbine Market: Research Methodology
2. Global Steam Turbine Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3.Global Steam Turbine Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4 . Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
Contact Maximize Market Research:
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Chicago, IL, 60606, USA.
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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