The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Global Steam Turbine market is projected to grow at a moderate growth rate accompanied by growing industrial, commercial, and residential activities. Thermal capacity addition is rising every year with constantly increasing electricity consumption. Frequent power cuts, blackouts, and load shedding have contributed to the increased demand for steam turbines for power generation. Increases in combined-cycle and cogeneration operations are expected to propel the growth of steam turbines for the power generation market all around the world.
The Global Steam Turbine market registered a market value of $13.05bn in 2017. The Asia-Pacific region was the largest market for steam turbines during 2017 registering 73.2% of the global market share. Europe, Middle East, and Africa (EMEA) was the second-largest market, followed by the Americas.
Key drivers in the global steam turbine market include governments’ mandated use of clean coal technologies (CCT) for new coal-fired power plants, increased demand for combined-cycle gas turbine (CCGT) plants, cheap coal prices, and supportive policies in some countries for coal-fired power plants.
However, challenges such as the increased focus on renewable energy sources (RES) and natural gas to move away from coal for cleaner energy, environmental regulations, land acquisition problems, non-availability of domestic coal in some countries, and energy supply security issues continue to hinder the growth potential of steam turbines in the global market.
The top steam turbine participants include Dongfang Electric Corporation Limited, Harbin Electric Company Limited, Bharat Heavy Electricals Limited (BHEL), Mitsubishi Hitachi Power Systems Ltd (MHPS), Siemens AG, GE Power, Toshiba Corporation, and Doosan Heavy Industries & Construction Co., Ltd.
"Steam Turbines for Thermal Power, Update 2018 - Global Market Size, Competitive Landscape, Key Country Analysis, and Forecast to 2022", offers comprehensive information and understanding of the global steam turbines market. The report offers in-depth analysis of steam turbine market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, India, China, Republic of Korea, Vietnam, Indonesia, Saudi Arabia, the UK, Turkey, and South Africa) level.
The report analyzes the steam turbine market value and volume for the historical (2012-2017) and forecast (2018-2022) period. The report covers the drivers and restraints affecting the steam turbine market, country-wise annual capacity additions and market value, project case studies, key projects, and the competitive landscape for respective countries in 2017. Profiles of major steam turbine manufacturers are also presented in this report.
The report analyses steam turbine market. Its scope includes -
- Analysis of the growth of steam turbine market with a focus on market value and volume in global and regional level including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides steam turbines market analysis for key countries including the US, India, China, Republic of Korea, Vietnam, Indonesia, Saudi Arabia, the UK, Turkey, and South Africa.
- The report offers country level steam turbine market size analysis with respect to market value and volume for the historical (2012-2017) and forecast (2018-2022) periods.
- It provides competitive landscape at country level for the year 2017 and profiles of major players in steam turbines market.
- Annual additions, market value, key market drivers and restraints, and analysis of their impact in steam turbines market, project case studies, and key projects are also discussed.
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