Steam Turbine Market To Gain Significant Growth Owing High Usage In Various Industrial Verticals Till 2025 | Million Insights

Posted on 2018-08-09 by researchinsights in Industrial // 0 Comments

Global Steam Turbine Market is segmented based on type, plant fuel, design, capacity, exhaust type, application, and region. A steam turbine is a mechanical device that extracts thermal energy from pressurized steam and converts it into mechanical work on rotation of output shaft that suits to driving electrical generators.

Steam turbine is mainly motorized by steam. As gaseous, hot steam flows by turbine spinning blades, steam expands and cool. This steam supports to spin the blades uninterruptedly, hence changing steam’s potential energy into kinetic energy which is then used for fabrication of electricity and to run a generator.

Prominent factors that are playing major role in the market growth are, growth in thermal power plants operating, growing deployment of combined heat & power (CHP) units. On the other hand, factors that are restraining market growth are strict government rules for replacement of conventional energy resources with renewables.

Full Research Report On Global Steam Turbine Market Analysis available at: https://www.millioninsights.com/industry-reports/steam-turbine-market

Steam Turbine Market is classified, by type into Steam Cycle Type Turbines (Conventional thermal, Nuclear Power Plants), Combined Cycle Type Turbines, Cogeneration Cycle Type Turbines, and others.

Steam Cycle Type Turbines segment accounted for the largest market share of overall Steam Turbine Industry Market and is expected to remain dominant over the forecast period. This is because these turbines are widely used by consumers. On the other hand, combined cycle type turbines are growing at fastest pace over the forecast period. The reason being growing demand from combined cycle power plants, as natural gas fired power generation an alternative to cleanest fossil fuel.

Steam Turbine Market is classified, by plant fuel into Nuclear, Coal, and Gas. The coal segment is expected to grow at fastest pace over the forecast period. The reason being, the coal fired power generation is the most affordable option for emerging countries in the world, especially in Asia Pacific, adequate supply of coal to use as a fuel. Steam Turbine Market is classified, by design into Reaction Steam Technology, Impulse Steam Technology, and others.

Impulse steam technology segment expected to grow gradually over the forecast period. This is mainly due to its increasing use in marine propulsion and power generation. Whereas, reaction steam technology is projected to grow substantially during the forecast period. The reason being, increasing importance of proficient combined cycle and waste to energy electricity generation.

Steam Turbine Market is classified, by capacity into>750 MW, 352-750 MW, 121-350 MW, <120 MW. Steam Turbine Market is classified, by exhaust type into Non-condensing and Condensing. Steam Turbine Market is classified, by application into Industrial, Power & Utility, and others.

Power & Utility segment accounted for the largest market share of the Steam Turbine Industry Market and is expected to remain dominant over the forecast period. The reason being, steam turbine units can be paired with any combustion fuel such as coal. On the other hand, industrial applications are expected to grow at fastest pace in the form of CHP units, that gives superior efficacy than the single unit and produce outputs in numerous ways.

Steam Turbine Market is segmented, geographically into North America, Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, Asia Pacific regional market accounted for the largest market share of Steam Turbine Industry and is estimated to lead the market over the forecast period. The use demand is coming from the country China. The reason being, high rate of industrialization in China, India.

Moreover, Europe is expected to grow gradually over the forecast period. This is mainly due to shifting concentration from traditional to cleaner and renewable energy sources, increasing use of natural gas as the main power generation source fixed with gas turbines. Steam Turbine Industry key players are, Toshiba, Shanghai Electric Group, General Electric, Dongfang Turbine Co. Ltd., BHEL, Harbin Turbine Co. Ltd., and Siemens.

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Market Segment:

The major manufacturers covered in this report

GE
Siemens
Elliott
Toshiba
Mitsubishi Hitachi Power Systems
MAN

Geographically, this report studies the top producers and consumers, focuses on product capacity, production, value, consumption, market share and growth opportunity in these key regions, covering

North America
Europe
China
Japan
Southeast Asia
India

We can also provide the customized separate regional or country-level reports, for the following regions:

North America
United States
Canada
Mexico
Asia-Pacific
China
India
Japan
South Korea
Australia
Indonesia
Singapore
Rest of Asia-Pacific
Europe
Germany
France
UK
Italy
Spain
Russia
Rest of Europe
Central & South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
Turkey
Rest of Middle East & Africa

On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into

Rated Power (<60MW)
Rated Power (60-200MW)
Rated Power (>200MW)

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/machinery-and-machine-parts

On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including

Industrial
Marine
Power Generation

The key points of this report are:

To analyze and study the global Steam Turbine capacity, production, value, consumption, status (2013-2017) and forecast (2018-2025);
Focuses on the key Steam Turbine manufacturers, to study the capacity, production, value, market share and development plans in future.
Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
To define, describe and forecast the market by type, application and region.
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends and factors driving or inhibiting the market growth.
To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
To strategically profile the key players and comprehensively analyze their growth strategies.

Key Stakeholders

Steam Turbine Manufacturers
Steam Turbine Distributors/Traders/Wholesalers
Steam Turbine Subcomponent Manufacturers
Industry Association
Downstream Vendors

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