San Francisco, 11
April , 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 Full Research
Report On Steam Turbine Market Analysis:
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
Browse More Reports Of This Category By
Grand View Research At: https://www.grandviewresearch.com/industry/power-generation-and-storage
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
o
U.S
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
·
Middle East and Africa
·
Central & South America
Access Full Press Release of this Report: https://www.grandviewresearch.com/press-release/global-steam-turbine-market
About Grand View Research
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.
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