Steam Turbine Market: Trends, Opportunities and Competitive Analysis

Steam Turbine Market: Trends, Opportunities and Competitive Analysis

Steam Turbine for Power Generation Market Trends and Forecast

the future of the steam turbine for power generation market looks promising with opportunities in coal-fired, gas-fired, and nuclear energy based power generation. The global steam turbine for power generation market is expected to reach an estimated $15.1 billion by 2027 with a CAGR of 0.5% from 2021 to 2027. The major drivers for this market are growing global electricity demand and relatively lower cost of electricity generation by steam turbine.

Emerging Trends in the Steam Turbine for Power Generation Market

Emerging trend, which has a direct impact on the dynamics of the industry, includes development of more efficient turbines.

A total of 107 figures / charts and 68 tables are provided in this 205-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the steam turbine for power generation market report, please download the report brochure.

Steam Turbine for Power Generation Market by Segment

The study includes a forecast for the global steam turbine for power generation market by plant fuel, capacity, technology, and region as follows:

Steam Turbine for Power Generation Market by Plant Fuel [Value ($B) and Volume (GW) shipment analysis for 2016 – 2027]:

• Coal
• Gas
• Nuclear

Steam Turbine for Power Generation Market by Capacity [Value ($B) and Volume (GW) shipment analysis for 2016 – 2027]:

• Less than 300 MW
• 300 MW to 599 MW
• 600 MW and above

Steam Turbine for Power Generation Market by Technology [Value ($B) and Volume (GW) shipment analysis for 2016 – 2027]:

• Steam Cycle
• Combined Cycle
• Cogeneration

Steam Turbine for Power Generation Market by Region [Value ($B) shipment analysis for 2016 – 2027]:

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• The United Kingdom
• France
• Russia
• Asia Pacific
• China
• Japan
• India
• South Korea
• The Rest of the World
• Brazil
• Argentina

List of Steam Turbine for Power Generation Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steam turbine for power generation companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steam turbine for power generation companies profiled in this report includes.

• Shanghai Electric Group
• Dongfang Turbine Co Ltd.
• Harbin Turbine Co. Ltd.
• Siemens
• BHEL
• General Electric
• Toshiba

Steam Turbine for Power Generation Market Insight

• Lucintel forecasts that Lucintel forecasts that coal will remain the largest segment. Abundance in the availability of coal and lower cost of generating electricity through coal-fired power plants is likely to drive this segment over the forecast period.
• 600 MW and above will remain the largest capacity segment. High efficiency as compared to smaller turbines is driving growth of this segment over the forecast period.
• Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to growing energy requirement at domestic and industrial level and increasing installation of coal, nuclear and combine cycle power generation facilities.

Features of Steam Turbine for Power Generation Market

• Market Size Estimates: Steam turbine for power generation market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Market size by plant fuel, capacity, and technology.
• Regional Analysis: Steam turbine for power generation market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different plant fuel, capacity, technology, and regions for the steam turbine for power generation market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the steam turbine for power generation market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the steam turbine for power generation market size?

Answer: The global steam turbine for power generation market is expected to reach an estimated $15.1 billion by 2027

Q2. What is the growth forecast for steam turbine for power generation market?

Answer: The steam turbine for power generation market is expected to grow at a CAGR of 0.5% from 2021 to 2027.

Q3. What are the major drivers influencing the growth of the steam turbine for power generation market?

Answer: The major drivers for this market are growing global electricity demand and relatively lower cost of electricity generation by steam turbine.

Q4. What are the emerging trends in steam turbine for power generation market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include development of more efficient turbines.

Q5. Who are the key steam turbines for power generation companies?

Answer: Some of the key steam turbine for power generation companies are as follows:

• Shanghai Electric Group
• Dongfang Turbine Co Ltd.
• Harbin Turbine Co. Ltd.
• Siemens
• BHEL
• General Electric
• Toshiba

Q6.Which steam turbine for power generation plant fuel segment will be the largest in future?

Answer: Lucintel forecasts that coal will remain the largest segment and it is expected to witness the highest growth over the forecast period due to abundance in the availability of coal and lower cost of generating electricity through coal-fired power plants.

Q7: In steam turbine for power generation market, which region is expected to be the largest in next 5 years?

Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global steam turbine for power generation market by plant fuel (coal, gas, and nuclear), capacity (less than 300 MW, 300 MW to 599 MW, and 600 MW and above), technology (steam cycle, combined cycle, cogeneration), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and the reasons behind them?

Q.7 What are the changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M & A activities have taken place in the last 5 years in this market?

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