Global Steam Turbines Market Overview:
Steam turbines convert the energy stored in high energy steam around it into useful forms of energy such as electrical and mechanical energy. The demand for steam turbines is growing with an increase in power requirement and it is also cheaper in the market as compare to others. As there is rapid development in developing countries such as China and India in terms of infrastructure, power requirements, and industrialization. This market is having great growth potential in emerging countries. Some of the key players profiled in the study are Harbin Electric Machinery Co., Ltd. (China), Dongfang Electric Corporation (China), Kawasaki Heavy Industries Ltd. (Japan), Elliott Group (United States), Siemens (Germany), General Electric Co. (United States), Toshiba (Japan), Ansaldo (Italy), Mitsubishi Heavy Industries Ltd. (Japan) and Hitachi (Japan).
On the basis of geography, the market of Steam Turbines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Rated Capacity, the sub-segment i.e. Less Than 125 MW will boost the Steam Turbines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating Principle, the sub-segment i.e. Reaction Turbine will boost the Steam Turbines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Power Sources, the sub-segment i.e. Fossil Fuels will boost the Steam Turbines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Exhaust Type, the sub-segment i.e. Condescending will boost the Steam Turbines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Focus towards Gas-Fired Power Production
- Rapid Industrialization in Emerging Economies
- Increasing Global Population
- Increase in Adoption of Dual Purpose Steam Turbines, Which Has Both Heat And Electricity Generated Simultaneously
- Market Is Facing Challenges Due To Prevalence of Strict Government Norms Relating To the Replacement of Generic Sources of Energy
- There Are Strong Opportunity For Vendors in This Particular Market, Due To Emerging Countries Are Strengthening Their Position in the Power Sector
- Steam Turbine Cannot Be Made Reversible
- Efficiency of Small Simple Steam Turbines Is Poor
Major Market Developments:
In Mar 2019, Toshiba Energy Systems & Solutions Corporation and Kawasaki Heavy Industries Announced A Collaboration Agreement to Supply Medium-Capacity Steam Turbines for Utility and Industrial Thermal Power Plants. Additionally, In Jan 2019, Siemens Announced The Signed Roadmap Implementation Agreement With Iraqi Government. Which Include Rehabilitation, Upgrade Of Existing Plants, And Expansion Of Transmission And Distribution Network.
Players Are Continuously Focus On Improving Their Offerings And Global Reach. Specifically In China Is Having More Than 150 New Coal-Fired Power Plants In Pipeline. The Market Is Consolidated With Little Potential For New Entrants In Future. Otherwise Big Players Are Continuously Adopting Inorganic Growth Strategies For Maintain Their Stronghold Over the Market.
Stakeholders, Government Bodies, Steam Turbines Manufacturers and End Users
Major Objectives Focused through this Study
To define, describe, and forecast the Global Steam Turbines market on the basis of product [Steam Cycle, Combined Cycle, Cogeneration and Trigeneration] , application [Power Generation, Refinery Petrochemical Refinery, Petrochemical,, Pharmaceuticals, Food Processing,, Petroleum/Gas Processing,, Pulp & Paper Mills and Waste-To-Energy], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Steam Turbines market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Steam Turbines industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Howden (Lanarkshire), Dresser-Rand (United States) and Sumitomo Heavy Industries Ltd. (Japan).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Steam Turbines market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.