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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The performance of the steam turbine greatly influences the overall efficiency, and for the same, market participants focus on improving the turbine efficiency. Companies such as GE have implemented a number of programs focusing on material development. Re-heat technology is another aspect which GE has revealed to have achieved a break through. The company is also working on double re-heat technology which is expected to significantly boost the system efficiency. Further key findings from the study suggest:
The global steam turbine market capacity was 103.16 GW in 2015 and is expected to reach 121.27 GW, growing at a CAGR of 1.6% from 2016 to 2025
Steam turbines with <120 MW capacity is expected to be the fastest growing segment on account of increasing demand for small capacity CHP units
Power & Utilities is expected to emerge as the largest application segment and accounted for over 70% of total capacity in 2015
Industrial application segment is expected to witness the highest growth of 3.3% in terms of revenue over the forecast period
Asia Pacific was the leading regional market with capacity share exceeding 50% in 2015
Asia Pacific is also expected to witness the fastest growth of 3.2% over the forecast period owing to rapid industrialization and increasing focus on thermal power plants to fulfill increasing electricity demand.
Siemens is expected to emerge as the largest player in the industry and is anticipated to hold over 20% of the market share
Other companies operating in the market space include General Electric Co., Mitsubishi Heavy Industries Ltd., Toshiba, Ansaldo, Hitachi, Dresser-Rand
Grand View Research has segmented the Steam Turbine Market on the basis of capacity, application and region:
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Read Our Blogs on Reports from this category By Grand View Research: http://www.grandviewresearch.com/blogs/energy-and-power Table of Content of Global Steam Turbine Market Research Report: Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data Sources Chapter 2. Executive Summary 2.1. Market Snapshot Chapter 3. Steam Turbine Market Variable, Trends & Scope 3.1. Steam turbine market segmentation 3.2. Market size and growth prospects, 2014 - 2025 3.3. Steam turbine market - Value chain analysis 3.4. Steam turbine market dynamics 3.4.1. Market driver analysis 3.4.2. Market restraint analysis 3.5. Key opportunities prioritized 3.6. Industry analysis - Porter's 3.7. Steam turbine market PESTEL analysis, 2015 Chapter 4. Steam Turbine Market: Capacity Estimates & Trend Analysis 4.1. Global steam turbine market share by capacity, 2015 & 2025 4.2. < 120 MW 4.2.1. Market estimates and forecast, 2014 - 2025 4.2.2. Market estimates and forecast by region, 2014 - 2025 4.3. 121 MW -350 MW
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4.3.1. Market estimates and forecast, 2014 - 2025 4.3.2. Market estimates and forecast by region, 2014 - 2025 4.4. 351 MW -750 MW 4.4.1. Market estimates and forecast, 2014 - 2025 4.4.2. Market estimates and forecast by region, 2014 - 2025 4.5. > 750 MW 4.5.1. Market estimates and forecast, 2014 - 2025 4.5.2. Market estimates and forecast by region, 2014 - 2025 Chapter 5. Steam Turbine Market: Application Estimates & Trend Analysis 5.1. Global steam turbinemarket share by application, 2015 & 2025 5.2. Power & Utility 5.2.1. Market estimates and forecast, 2014 - 2025 5.2.2. Market estimates and forecast by region, 2014 - 2025 5.3. Industrial 5.3.1. Market estimates and forecast, 2014 - 2025 5.3.2. Market estimates and forecast by region, 2014 - 2025 5.4. Others 5.4.1. Market estimates and forecast, 2014 - 2025 5.4.2. Market estimates and forecast by region, 2014 - 2025 Chapter 6. Steam Turbine Market: Regional Estimates & Trend Analysis 6.1. Global steam turbinemarket share by region, 2015 & 2025 6.2. North America 6.2.1. Market estimates and forecast, 2014 - 2025 6.2.2. Market estimates and forecast by capacity, 2014 - 2025 6.2.3. Market estimates and forecast by application, 2014 - 2025 6.2.4. U.S. 6.2.4.1. Market estimates and forecast, 2014 - 2025
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6.2.4.2. Market estimates and forecast by capacity, 2014 - 2025 6.2.4.3. Market estimates and forecast by application, 2014 - 2025 6.3. Europe 6.3.1. Market estimates and forecast, 2014 - 2025 6.3.2. Market estimates and forecast by capacity, 2014 - 2025 6.3.3. Market estimates and forecast by application, 2014 - 2025 6.3.4. Germany 6.3.4.1. Market estimates and forecast, 2014 - 2025 6.3.4.2. Market estimates and forecast by capacity, 2014 - 2025 6.3.4.3. Market estimates and forecast by application, 2014 - 2025 6.3.5. UK 6.3.5.1. Market estimates and forecast, 2014 - 2025 6.3.5.2. Market estimates and forecast by capacity, 2014 - 2025 6.3.5.3. Market estimates and forecast by application, 2014 - 2025 6.3.6. France 6.3.6.1. Market estimates and forecast, 2014 - 2025 6.3.6.2. Market estimates and forecast by capacity, 2014 - 2025 6.3.6.3. Market estimates and forecast by application, 2014 - 2025 6.4. Asia Pacific 6.4.1. Market estimates and forecast, 2014 - 2025 6.4.2. Market estimates and forecast by capacity, 2014 - 2025 6.4.3. Market estimates and forecast by application, 2014 - 2025 6.4.4. China 6.4.4.1. Market estimates and forecast, 2014 - 2025 6.4.4.2. Market estimates and forecast by capacity, 2014 - 2025 6.4.4.3. Market estimates and forecast by application, 2014 - 2025 6.4.5. India
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6.4.5.1. Market estimates and forecast, 2014 - 2025 6.4.5.2. Market estimates and forecast by capacity, 2014 - 2025 6.4.5.3. Market estimates and forecast by application, 2014 - 2025 6.4.6. Japan 6.4.6.1. Market estimates and forecast, 2014 - 2025 6.4.6.2. Market estimates and forecast by capacity, 2014 - 2025 6.4.6.3. Market estimates and forecast by application, 2014 - 2025 6.5. Middle East & Africa 6.5.1. Market estimates and forecast, 2014 - 2025 6.5.2. Market estimates and forecast by capacity, 2014 - 2025 6.5.3. Market estimates and forecast by application, 2014 - 2025 6.6. Central & South America 6.6.1. Market estimates and forecast, 2014 - 2025 6.6.2. Market estimates and forecast by capacity, 2014 - 2025 6.6.3. Market estimates and forecast by application, 2014 - 2025 Chapter 7. Competitive Landscape 7.1. Competitive heat map analysis 7.2. Vendor landscape 7.3. Competitive environment Chapter 8. Competitive Landscape 8.1. General Electric 8.1.1. Company Overview 8.1.2. Financial Performance 8.1.3. Product Benchmarking 8.1.4. Strategic Initiatives 8.2. Siemens AG 8.2.1. Company Overview
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8.2.2. Financial Performance 8.2.3. Product Benchmarking 8.2.4. Strategic Initiatives 8.3. Ansaldo Energia s.p.a 8.3.1. Company Overview 8.3.2. Financial Performance 8.3.3. Product Benchmarking 8.3.4. Strategic Initiatives 8.4. Mitsubishi Heavy Industries 8.4.1. Company Overview 8.4.2. Financial Performance 8.4.3. Product Benchmarking 8.4.4. Strategic Initiatives 8.5. Toshiba America Energy Systems Corp. 8.5.1. Company Overview 8.5.2. Financial Performance 8.5.3. Product Benchmarking 8.5.4. Strategic Initiatives 8.6. Dresser-Rand 8.6.1. Company Overview 8.6.2. Financial Performance 8.6.3. Product Benchmarking 8.6.4. Strategic Initiatives 8.7. MAN Diesel & Turbo SE 8.7.1. Company Overview 8.7.2. Financial Performance 8.7.3. Product Benchmarking
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8.7.4. Strategic Initiatives 8.8. Elliott Group 8.8.1. Company Overview 8.8.2. Financial Performance 8.8.3. Product Benchmarking 8.8.4. Strategic Initiatives 8.9. Doosan Ĺ koda Power 8.9.1. Company Overview 8.9.2. Financial Performance 8.9.3. Product Benchmarking 8.9.4. Strategic Initiatives 8.10. Mitsubishi Hitachi Power Systems Americas, Inc. 8.10.1. Company Overview 8.10.2. Financial Performance 8.10.3. Product Benchmarking 8.10.4. Strategic Initiatives About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy. Contact: Sherry James Corporate Sales Specialist, USA
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