Steam Turbine Market : Insights, Business Opportunities and Competitor Analysis 2017 - 2025
With the help of blades attached to a rotor, the steam turbines convert thermal energy of steam into mechanical energy. The turbine starts to rotate when high pressure steam passes through sequence of rotor blades. With the growing population across the world, and rapid urbanization in several emerging economies, the demand for energy is escalating consistently, and as a result, the demand in the global steam turbine market is expected to expand at a healthy rate during the forecast period of 2017 to 2025.
This report on the global steam turbine market has been prepared using proven research methodologies, and includes steam turbine market segmentations, market size and growth prospects, value chain analysis, key opportunities, and industry analysis including Porter’s five forces. The report has been prepared to serve as an information guide to targeted audiences such as distributors and suppliers, OEMs, private equity groups. The report also includes a featured section on the companies that are currently active in the global steam turbine market, estimating their market share, financial performance, product benchmarking, and recent strategic initiatives.
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The global steam turbine market can be segmented on the basis of type into steam cycle and combined cycle, on the basis of application into coal, nuclear, biomass, and others, on the basis of rated capacity into 1 to 120 MW, 121 to 350 MW, 351 to 750 MW, and above 750 MW. By exhaust type, the market can be segmented into condensing and non-condensing. Geographically, the report studies the potential available for steam turbine market in the regions such as North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Global Steam Turbine Market: Drivers and Restraints
Rapid industrialization in emerging economies and rising global population, which are consistently propelling the demand for energy, are the primary factors augmenting the demand for steam turbine. Steam turbines are essential in generating electricity from various sources such as nuclear, biomass, and coal. Moreover, the report observes that in the coming years, supercritical technology will play an important role in increasing the generation capacity as well as efficiency, besides decreasing the greenhouse gases. It has also been noted that several old steam turbines are reaching a maturing stage, which will further augment the demand for the advanced steam turbines. Currently, steam turbine of capacity between 121 MW to 350 MW serves the maximum demand, owing to its application in CHP units.
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Conversely, the growing emphasis on gas-fired power generation, and increasing emphasis on cleaner resources such as natural gas and renewable energy owing to environmental concerns are expected to hinder the growth rate during the forecast period. Each of these factors have been analyzed in detail in the report and their eventual implications have been estimated.
Global Steam Turbine Market: Regional Outlook
India and China are the two most lucrative country-wide markets for steam turbine market, which makes Asia Pacific the most important region for this market. In China, there are more than 150 new coal-fired power plants in pipeline while India is aspiring to strengthen its position in the power sector. General Electric (GE) are introducing 660MW and 800MW supercritical steam turbines in India while Siemens is investing US$44.2 million in the country to expand its steam turbine facility in Vadodara, Gujarat.
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Companies mentioned in the research report
Siemens, General Electric Co., Toshiba, Ansaldo, Mitsubishi Heavy Industries Ltd., Hitachi, and Dresser-Rand are some of the leading vendors in the global steam turbine market, which is primed to get consolidated with little potential for new entrants in the new future. Moreover, these prominent players aggressively acquire smaller players to maintain their stronghold over the market and establish their monopoly.
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