Press release
Steam Turbine to enrol growth rate of 4.4% reaching to the market value of $19.3 billion by 2020
The Global steam turbine market was valued at $14.8 billion in 2014, which is projected to reach $19.3 billion by 2020, at a CAGR of 4.4% during the forecast period of 2015 to 2020.Steam turbine is essentially a high speed machine, converting the heat energy released by fossil fuels and nuclear fuels into the kinetic energy for driving the power generators. Steam turbine market is driven by the increasing energy demand. It is one of the advanced energy sources which can help in fulfilling the increased global power demand.
The growth of the steam turbine market is directly proportional to the installation capacity of the plant. Most of the companies are prioritizing to meet the energy demand by increasing the installation capacity from MW to GW and from GW to TW worldwide.
Asia–Pacific led the global steam turbine market with a market share of more than 70% in 2014, and is projected to grow at the highest CAGR among as the electricity demand is growing rapidly owing to the increasing population and rapid industrialization. There is a massive increase in the installation capacity of steam turbine market in this region.
India is looking to strengthen its position in the fast -growing power sector. General Electric will introduce 660MW and 800MW supercritical steam turbines by 2015 whereas Siemens has announced to invest $44.2 million for expansion of its steam turbine manufacturing facility in Vadodara, Gujarat.
The rapid industrialization and rising global population have increased the demand of electricity. Steam turbines play a vital role in generating electricity by the different sources like coal, nuclear, biomass, and others, thus fulfilling the increased demand.
Supercritical technology has been recognized as a major tool for increasing generation capacity and efficiency while reducing greenhouse gases. Hence, its adoption is strongly promoted by Indian utility companies. The main types of services offered in the global steam turbine market are conventional cycle steam turbine, combined cycle steam turbine, and cogeneration steam turbine.
Cogeneration steam turbine segment is projected to grow with the highest CAGR, followed by combined cycle and conventional cycle steam turbine segments
Biomass segment is projected to grow at the highest CAGR among all applications, followed by nuclear and coal. This high growth rate is attributed to the increasing consumption of biomass to produce biofuels. Coal application segment had the largest share of more than 50% in 2014, followed by nuclear and others.
The leading players in the global steam turbine market are Siemens AG, Alstom SA, and General Electric, together accounting for 60% of the market share. Siemens offers a comprehensive range of steam turbine from 45KW to 1900 MW whereas Alstom SA designs for all kinds of fossil fuels applications up to 1,200 MW, in 50 HZ and 60 HZ grids. In cogeneration plants, Alstom steam turbines are highly flexible and operate between power plants and heat demand to accommodate wide variation in process steam flows.
The above statistics here are given by the report “Global Steam Turbines Market by Type, Application and Geography – Forecast 2020”.
Objective of this study is to analyze the market trends, share, growth & restraining factors and projection supported by market estimates and forecasts of global market.
Know about this more at - http://www.micromarketmonitor.com/market-report/steam-turbines-reports-2453615837.html
PDF brochure of this research - http://www.micromarketmonitor.com/contact/2453615837-download_pdf_brochure.html
Discuss queries related to this research at – http://www.micromarketmonitor.com/contact/2453615837-speak_to_analyst.html
About Report Publisher:
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.
Contact:
Mr. Priyank Tiwari
UNIT no 802, Tower No. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel - +1-888-502-0539
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Steam Turbine to enrol growth rate of 4.4% reaching to the market value of $19.3 billion by 2020 here
News-ID: 347075 • Views: …
More Releases from micromarketmonitor.com
Asia-Pacific Flue Gas Desulphurization market to reach $12,600.8 million by 2019
The flue gas desulphurization market in Asia-Pacific was valued at $9,173.1 million in 2014, and is expected to reach $12,600.8 million by 2019.The market is expected to reach a CAGR of 6.6% from 2014 to 2019. The China market has held a major share of approximately 83.8% in the Asia-Pacific flue gas desulphurization market, and is projected to grow at a CAGR of 6.4% from 2014 to 2019.
The statistics…
Global Hemostats Market to reach $2.9 billion by 2021
According to the research, the global Hemostats Market is expected to reach $2.9 billion by 2021, at a developing CAGR of 6.2 % from 2016 to 2021.
Global Hemostats market growth is attributed to the rise in the surgery procedures and increasing the number of insurance providers of the hemostats products in the market. Despite this, high cost of Hemostats devices hindering the market. In 2015, about 62.8 % of this…
Global Acetic Anhydride Market value expected to reach at $3,662.3 million by 20 …
According to the new market research report “Global Acetic Anhydride Market by Application (Cellulose Acetate, Pharmaceuticals, Perfumes, Others), by Geography (North America, Europe, Asia-Pacific, Rest of the World) — Analysis & Forecast to 2019”, the Acetic Anhydride market is expected to reach a value of $3,662.3 million by 2019, from $2,474.7 million in 2014, at a CAGR of 2.8% during the period under consideration.
Acetic anhydride is a colorless liquid with…
America Inorganic Advanced Phase Change Materials market estimated to reach $186 …
America Inorganic Advanced PCMs Market was valued at $68.1 million in 2014 and is projected to reach $186.2 million by 2019, at a CAGR of 22.3% between 2014 and 2019.
The America inorganic advanced phase change materials market is significantly penetrating into its end-use industries. They have different characteristics as per their manufacturing and application requirement in the end-products. The U.S. is expected to dominate this market with its growing demand…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
[CAGR of 5.5%] Silica Flour Market Size, CAGR, Competitive Analysis and Forecast …
The global silica flour industry generated $520.0 million in 2021, and is estimated to reach $876.3 million by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
Allied Market Research published a report, titled, "Silica Flour Market by Type (Quartz, Cristobalite), by Application (Fiberglass, Glass and Clay, Oil Well Cement, Ceramic and Refractory, Foundry, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." The report offers a detailed analysis…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Call Center AI Market Latest, CAGR, Volume and Value 2022-2030 | (CAGR) of 25%
New York , United States- Report Ocean published the latest research report on the Call Center AI market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Call Center AI market study demonstrates a detailed examination of the business state, which represents creative ways for company growth,…
