Steam Turbine Market Is Majorly Driven By Increasing Demand For Energy Till 2025
“Increasing deployment of combined heat & power (CHP) units is expected to remain a key driving factor over the forecast period. Steam engines have been an integral part of thermal power plants operating across the world.�
The global steam turbine market is expected to reach USD 15.48 billion by 2025, according to a new report by Grand View Research, Inc. Steam turbines have been a key part of the global power generation systems from past. However, factors such as limited primary energy sources, increasing awareness regarding environmental pollution, etc. has resulted in rising need towards developing efficient steam turbines. Access Full Research Report on Global Steam Turbine Market: http://www.grandviewresearch.com/industry-analysis/steam-turbine-market Steam turbines are now popularly used for combined heat & power (CHP) systems, mainly employed in industrial applications. CHP units offer greater efficiency & flexible output and also operate on cleaner fuels such as natural gas. Legislative support towards CHP installation is expected to foster small and medium capacity steam turbines demand over the forecast period.
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