The Report Steam Turbine Market
Analysis By Capacity (<120 MW, 121-350 MW, 351-750 MW, >750MW), By
Application (Power & Utility, Industrial), By Region (North America,
Europe, Asia Pacific, Central & South America, Middle East & Africa)
And Segment Forecasts, 2018 - 2025
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.
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.
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.
Access
Research Report of Steam Turbine Market@ http://www.grandviewresearch.com/industry-analysis/steam-turbine-market
Further key findings from the report 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:
Global Steam Turbine Capacity Outlook (Volume, Mega Watt;
Revenue, USD Million, 2014 - 2025)
·
<120
·
121-350
·
351-750
·
>750
Global Steam Turbine Application Outlook
(Volume, Mega Watt; Revenue, USD Million, 2014 - 2025)
·
Power & Utility
·
Industrial
·
Others
Steam Turbine Regional Outlook (Volume, Mega Watt;
Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Middle East and Africa
·
Central & South America
About Grand View Research
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, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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