The global steam turbine market for power generation is expected to reach an estimated $18.5 billion by 2021 at a CAGR of 2.3% during the forecast period (from 2016 to 2021). The major drivers for the growth of this market are growing global electricity demand and relatively lower cost of electricity generation by steam turbine.
Emerging trends, which have a direct impact on the dynamics of the steam turbine market for power generation industry, include development of more efficient turbines and technology transfers to secure footprint in large and high growth markets.
A total of 87 figures / charts and 20 tables are provided in this 112-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of the steam turbine market for power generation report, download the report brochure.
The study includes steam turbines market size and forecast for the growth opportunities in the global steam turbines market by plant fuel, turbine size, and region as follows:
Steam turbines market by plant fuel [Volume (GW) and Value ($ billion) from 2010 to 2021]:
Coal Gas Nuclear
Steam turbines market by turbine size [Volume (GW) and Value ($ billion) from 2010 to 2021]:
Less than 300 MW 300 MW to 599 MW 600 MW and above
Steam turbines market by region [Volume (GW) and Value ($ billion) from 2010 to 2021]:
North America Europe Asia Pacific Rest of the World
Steam turbine companies profiled in this market report include Shanghai Electric Group, Dongfang Turbine Co Ltd., Harbin Turbine Co. Ltd., Siemens, BHEL, General Electric, and Toshiba are among the major suppliers of steam turbine.
On the basis of comprehensive research, Lucintel forecasts that steam turbine demand for nuclear energy based electricity generation is expected to show above-average growth during the forecast period. In this market, coal, gas, and nuclear are the major type of plant fuel being used for power generation.
Within the steam turbine market, coal-fired power generation is expected to remain as the largest market. Abundance in the availability of coal and lower cost of generating electricity through coal-fired power plants is likely to drive this segment over the forecast period.
By turbine size, the ’600 MW and above’ turbine is expected to remain the largest segment by both value and volume. High efficiency compared to small turbine is the major driving factors, which would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market and is likely to witness the highest growth over the forecast period due to growing energy requirement at domestic and industrial level and resulting installation of coal, nuclear and combine cycle power generation facilities.
Some of the features of “Growth Opportunities in the Global Steam Turbine Market for Power Generation 2016-2021: Trends, Forecast, and Opportunity Analysis” include:
Market size estimates: Growth opportunities in the global steam turbine market in terms of value ($B) and volume (GW.) shipment.Trend and forecast analysis: Global steam turbine market trend (2010-2015) and forecast (2016-2021) by region and segment.Segmentation analysis: Global steam turbine market size from 2010 to 2021 by various plant fuel and turbine size.Regional analysis: Global steam turbine market breakdown by key regions such as North America, Europe, Asia Pacific, and Rest of World. Growth opportunities: Analysis on growth opportunities in different plant fuel, by turbine size, and regions.Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global steam turbine suppliers.Emerging trends: Emerging trends of global steam turbine market, analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth opportunities for steam turbine market by plant fuel (coal, gas, and nuclear), turbine size (less than 300 MW, 300 MW to 599 MW, and 600 MW and above), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q. 2. Which segment will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q. 4. What are the key factors affecting market dynamics? What are the drivers and challenges, and business risks in this market?
Q. 5. What are the business risks and competitive threats in this market?
Q. 6. What are emerging trends in this market and reasons behind them?
Q. 7. What are some of the changing demands of customers in the steam turbines market?
Q. 8. What are the new developments in the market and which steam turbine companies are leading these developments?
Q. 9. Who are the major steam turbine suppliers? What strategic initiatives are being taken by key players for business growth?
Q. 10. What are some of the competing products in steam turbines market and how big of a threat do they pose for loss of market share by product substitution?
Q. 11. What M & A activity has occurred in the last 5 years and what is its impact on the industry?