Steam Turbine
Market - Overview
Market Research Future
(MRFR) has released an extensive report on the Steam Turbine Market highlighting the key macro and micro-economic factors impacting the
growth of the market over the forecast period of 2017-2023. MRFR has asserted
that the steam
turbine market size to reach USD 19.21 Bn at a CAGR of 4.2% over the
forecast period. Steam turbines are used in thermal electricity generation
plants, one of the older methods of power generation. Steam turbine consume
less pace, have larger capacity and are designed for greater speed range.
Steam turbine installations
can significantly lead to incremental improvements in single power stations'
operations due to which various power generation companies are investing in
steam turbines to leverage the opportunity. Steam turbines are also key in the
nuclear sector. Establishment of nuclear sector in developing countries is
likely to propel the demand for steam turbines over the forecast period.
Growing niche applications of steam turbines in concentrated solar power (CSP)
where they contribute to emission-free energy facilities have been instrumental
in driving the steam turbine market.
Steam turbines are also used in geothermal power plants which are
commonplace in US, Iceland, Italy and east Africa.
Steam Turbine
Market Segmentation:
The global steam turbine
market has been segmented based on plant fuel, capacity, exhaust type, and end
user.
By plant fuel, the steam
turbine market has been segmented into coal, Gas, Nuclear and others.
By capacity, the steam
turbine market has been segmented into Up to 120 MW, 121-750 MW and Above 750
MW.
By exhaust type, the steam
turbine market has been segmented into condensing steam turbines and
non-condensing steam turbines.
By end user, the steam
turbine market has been segmented into Power & Utility, Industrial and
others.
Competitive
Landscape
ABB (Switzerland), Alstom SA
(France), General Electric (U.S.), Man Diesel & Turbo SE (Germany),
Mitsubishi Hitachi Power Systems (Japan), Siemens AG (Germany), Elliott Group
(U.S.), Fuji Electric Co., Ltd., (Japan), and Toshiba Corporation (Japan) are
the leading players in the global steam turbine market.
Regional Analysis
By region, the steam turbine
market has been segmented into North America, Rest-of-the-World (RoW), Europe,
and Asia Pacific (APAC).
Asia Pacific is the largest
market for steam turbine and is anticipated to capture the highest CAGR over
the forecast period. Augmenting need for generation of electricity in the
region has catapulted the demand for steam turbines. Continued development of
coal-fired electricity power generation in the APAC region along with estimated
rebound in in orders for combined-cycle gas turbine (CCGT) power stations is
likely to propel the market growth over the forecast period.
The Europe steam turbine
market is anticipated to exhibit sluggish growth rate over the forecast period.
This can be attributed to shifting focus from traditional to cleaner and
renewable energy sources.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed
Research (CFR), and Market Research & Consulting Services.
No comments:
Post a Comment