The global steam turbines market is expected to grow at a significant rate during the forecast period owing to increasing electricity consumption and growing demand for nuclear energy-based electricity generation. The increasing demand for uninterrupted power in developing countries owing to increasing infrastructural activities is accelerating the demand for steam turbines.
Steam turbine is a mechanical device that extracts thermal energy from pressurized steam and transforms it into mechanical work. It consists of a boiler, turbine, condenser, feed pump, and several auxiliary devices. Increasing investments in electricity generation infrastructure is contributing to the increasing demand of steam turbines. However, the market also faces some restrains. Steam turbines can have varying negative impacts on the environment and human health which limits the overall growth of the market.
Global steam turbines market can be segmented based on
Regionally, Asia-Pacific accounted for the largest share in 2021 with strong demand emanating from China and India due to growing demand for uninterrupted power in various infrastructural and construction activities.
Major companies operating in the global steam turbines market include Siemens AG, Mitsubishi Hitachi Power Systems Ltd, Bharat Heavy Electricals Limited, General Electric Company, Dongfang Turbine Company Limited, Toshiba Corporation, Doosan Heavy Industries & Construction Company Ltd., Elliott Company, MAN Diesel & Turbo and Fuji Electric Co., Ltd., among others. Companies are taking up growth strategies like mergers & acquisitions and joint ventures & collaborations to increase their global reach and market share.
Objective of the Study
- To analyse and forecast the market size of global steam turbines market.
- To forecast global steam turbines market based on type, rated capacity, exhaust
type, fuel type, company and regional distribution.
- To identify drivers and challenges for global steam turbines market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions etc. in global steam turbines market.
- To identify and analyse the profile of leading players operating in
the global steam turbines market.
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Market insights research performed both primary as well as exhaustive secondary research for this study. Initially, Market insights research sourced a list of steam turbine manufacturing companies across the globe. Subsequently, Market insights research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, Market insights research could include the companies which could not be identified due to the limitations of secondary research.
Market insights research calculated global steam turbines market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. Market insights research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by Market insights research.
Key Target Audience
- Steam Turbine manufacturing companies/partners
- Suppliers/Distributers
- End-Users
- Government bodies such as regulating
authorities and policy makers
- Organizations, industry associations, forums
and alliances related to steam turbines market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as steam turbine manufacturing companies and partners, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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Attribute
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Details
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Base
Year
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2021
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Historical
Years
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2017 –
2020
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Estimated
Year
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2022
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Forecast
Period
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2023 – 2027
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Quantitative
Units
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Revenue in
USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027
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Report
Coverage
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Revenue
forecast, volume forecast, company share, competitive landscape, growth
factors, and trends
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Segments
Covered
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·
Type
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Rated Capacity
·
Exhaust Type
·
Fuel Type
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Regional
Scope
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North
America; Asia Pacific; Europe & CIS; South America; Middle East &
Africa
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Country
Scope
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United States; Canada; Mexico; China; India; Japan; Malaysia;
Thailand; Indonesia; Vietnam; South Korea; Germany; France; United Kingdom; Spain;
Italy; Belgium; Russia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; South
Africa; Egypt
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Key
Companies Profiled
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Siemens AG, Mitsubishi Hitachi Power Systems Ltd, Bharat Heavy
Electricals Limited, General Electric Company, Dongfang Turbine Company
Limited, Toshiba Corporation, Doosan Heavy Industries & Construction
Company Ltd., Elliott Company, MAN Diesel & Turbo and Fuji Electric Co.,
Ltd.
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Customization
Scope
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10% free
report customization with purchase. Addition or alteration to country, regional
& segment scope.
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Pricing
and Purchase Options
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Avail
customized purchase options to meet your exact research needs. Explore purchase
options
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Delivery
Format
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PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
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