The latest report on Industrial Steam Turbines Market by Infinium Global Research gives complete coverage of the Industrial Steam Turbines Market by type (combined cycle, cogeneration), rated capacity (less than 125 mw, 125-300 mw, 300-550 mw, 550-750 mw, 750 mw), end user (industrial, utility, power) in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Industrial Steam Turbines such as North America, Europe, Asia-Pacific and Latin America over the short run and long run. The global industrial steam turbines market is projected to grow at a CAGR of 4.40% over the forecast period of 2018-2024.
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Steam turbines is a mechanical device that extracts thermal energy from pressurized steam and generates electrical energy. Industrial steam turbine is a steam-driven driver. The most common use of industrial steam turbines is to produce electricity in the thermal power plants. For power generation, industrial steam turbines such as extraction-condensing turbines, extraction back-pressure turbines, and geared turbines are used in industrial plants. Industrial steam turbines have numerous features including higher efficiency, easier maintenance, smaller initial investment, and smaller space requirements.
Increasing Electricity Requirement Across the Globe is the Key Driver for the Growth of Industrial Stream Turbines Market
The growing demand for industrial steam turbines owing to increasing electricity requirements across the globe is the key driver for the growth of the industrial stream turbines market. Moreover, rapid industrialization, urbanization, growing government initiatives to generate electricity, and expanding infrastructure developments are some factors that influence the growth of industrial steam turbines market. Moreover, the rapid growth of nuclear-based power plants and the high set-up cost of nuclear power plants over the globe are escalating the demand for industrial steam turbines market.
The growing requirement of industrial steam turbines from the chemical industry, Oil & Gas and sugar mills are fueling the growth of this market. However, increasing inclination towards gas turbines in power generating units restrains the growth of the industrial steam turbines market. Going further, advancements in industrial steam turbines and expansion of the construction industry, growing installation of thermal power generation units and growing popularity of dual-purpose industrial steam turbines are anticipated to create fruitful opportunities for the industrial steam turbines market during the forecast period.
The Asia Pacific has the Maximum Market Share in Industrial Steam Turbines Market
Among the region, Asia Pacific has the maximum market share in the industrial steam turbines market. The factors such as rapid industrialization and urbanization and expanding requirement of electricity are responsible for the growth of the industrial steam turbines market in this region. European region is anticipated to have a significant revenue share in the industrial steam turbines market. In North America, the growth in the renewable energy sector drives the industrial steam turbines market. In the United States alone around 85.0% of the electricity is produced using steam turbine generators. The Middle East and Africa region are anticipated to grow at a steady rate in the industrial stream turbines market during the forecast period owing to the increasing infrastructural development in this region.
Table of Content:
Chapter – 1 Preface
Chapter – 2 Executive Summary
Chapter – 3 Global Industrial Steam Turbines Market Overview
Chapter – 4 Industrial Steam Turbines Market Macro Indicator Analysis
Chapter – 5 Global Industrial Steam Turbines Market by Type
- Combined Cycle
Chapter – 6 Global Industrial Steam Turbines Market by Rated Capacity
- Less than 125 MW
- 125-300 MW
- 300-550 MW
- 550-750 MW
- More than 750MW
Chapter – 7 Global Industrial Steam Turbines Market by End User
Chapter – 8 Global Industrial Steam Turbines Market by Region 2018-2024
- North America
Chapter – 9 Company Profiles and Competitive Landscape
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Elliott Group
- Harbin Electric Machinery Co., Ltd.
- GENERAL ELECTRIC
- Dongfang Electric Corporation
- Fuji Electric Co., Ltd.
- Power Machines
- Ansaldo Energia
Chapter – 10 Appendix
- Primary Research Findings and Questionnaire
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