Thursday 16 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Global Steam Turbine Market: Alstom SA, Dongfang Electric Corporation (DEC) Ltd., Elliot Group, GE Energy, Hangzhou Steam Turbine Co. Ltd., Harbin Turbine Co. Ltd., Nanjing Turbine & Electric Machinery (Group) Co. Ltd., Shandong Qingneng Power (QNP) Co. Ltd., Shanghai Electric Group Co. Ltd. and Siemens AG.
Other Prominent Vendors in the market are: China Chang Jiang Energy, GuangZhou SKODA-JINMA Turbine, Mitsubishi Hitachi Power Systems, Sokeo Power and Triveni Group.
The report said: “One major trend observed is the market reaching the maturity stage. Thermal power generation is the most developed technology for power generation. High investment can be seen in technologies such as renewable energy sources and gas turbine-based thermal power plants.”
According to the report, increased demand for electricity because of the increase in population and industrialization is one of the key drivers of the market. Rapid industrial development in many developing countries has significantly increased the demand for power and is likely to continue in the coming years.
Further, the report states that one of the key challenges in this market is the increased emphasis on gas-fired power generation. The increased focus on reducing carbon emissions has forced several vendors and governments to shift focus from traditional power generation to alternative sources such as gas-fired power generation, which will help reduce carbon emissions.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.