The report, now available on ASDReports, “Steam Turbines Market by Type (Steam Cycle, Combined Cycle and Cogeneration), by Rated Capacity (1-120 MW, 121-350 MW, 351-750 MW and Above 750 MW), by Exhaust Type (Condensing and Noncondensing), by Application (Coal, Nuclear, Biomass and Others) and by Region (Americas, Asia-Pacific, Europe and Middle East & Africa) - Global Trends and Forecasts to 2020”, defines and segments the global steam turbine market with an analysis and forecast of the market size.
Steam Turbines Market is projected to grow from an estimated USD 14.8 Billion in 2014 to USD 19,292 Million by 2020, at a CAGR of 4.4%. Growing demand for electricity and corresponding increase in investments for capacity expansions are driving the market for steam turbines across the globe.
Among the three major type of steam turbines, steam cycle type turbines (which include conventional thermal and nuclear power plants) are the most widely used, and hold around 60% share of the total steam turbines current market. Steam turbines are witnessing increasing demand from combined cycle power plants, as natural gas fired power generation is being preferred as the cleanest fossil fuel alternative, where the exhaust steam is put to use for additional power generation.
The report segments steam turbine market on the basis of its fuel type in different power plants. The largest market by fuel type is in coal fired plants, followed by nuclear power plants. Biomass application is significant in Asia-Pacific as well as the Middle East & Africa. Steam turbines for coal based power plant application are projected to grow fastest during the forecast period, as many new coal plants are already under construction or planned for future, particularly in Asia-Pacific.
In this report, the steam turbines market has been analyzed with respect to four regions, namely, the Americas, Asia-Pacific, Europe, and the Middle East & Africa. Asia-Pacific leads the world in terms of market demand for steam turbines, as thermal power forms the core of the region’s electricity generation infrastructure. Nearly three quarters of all new demand for steam turbines is set to emanate from the fast-growing economies of Asia-Pacific, particularly China and India, as these countries lay out ambitious plans to expand generation capacity.
To provide an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the steam turbines market including Alstom SA (France), Siemens AG (Germany), General Electric (U.S.), Mitsubishi Hitachi Power Systems (Japan), and Toshiba Corporation (Japan) among others. Dominant players are trying to grab a strong footing into developing economies and adopting various methods to grab the market share, with contracts & agreements, and partnerships (joint-ventures, collaborations) being their most favored strategies.
Market share analysis, by revenue, of the top companies is also included in the report. The scope accordingly aids market participants to identify high growth markets and help managing key investment decisions. For this report, major players in the steam turbine market have been identified using various primary and secondary sources, which include annual reports of top market players, interviews with key opinion leaders such as CEOs, Directors, and Marketing Executives. Based on this research, the market shares have been evaluated and validated.
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Source: ASDReports - Market Research
Date: Nov 17, 2015