Stratview Research announces the launch of a new research report on the Steam Turbine Market is Segmented by Design Type (Reaction and Impulse), by Exhaust Type (Condensing and Non-Condensing), by Fuel Type (Fossil Fuel, Biomass, and Geothermal), by End-Use Type (Industrial [Refinery, Chemical Plant, Sugar Plant, Pulp & Paper, and Others] and Utility), by Capacity Type (<3 MW, 3-100 MW, and >100 MW), by Technology Type (Steam Cycle, Combined Cycle, and Cogeneration), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
The report calculates the short- and long-term ramifications of the COVID-19 pandemic on Steam Turbine Market consumption at the global, regional, and nation scales. The report also compares pre-COVID and post-COVID scenarios to evaluate the potential loss to the industry. The vital data provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
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The report delivers a detailed view of the industry based on Steam Turbine Market size, market growth, and opportunities. The report also analyses market key aspects such as-
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Covid-19 Impact analysis.
- Market environment analysis: Growth drivers and constraints, and SWOT analysis.
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
Highlights from the Report
Steam Turbine Market is likely to witness a steady CAGR of more than 2.5%, during the forecast period. This is primarily because of the several regulations for the promotion of low carbon fuels in order to reduce the environmental hazardous emissions. Also, there has been a growing focus towards the development of low scale thermal power plants, which is significantly fueling the market growth. In addition, on account of the growing preference towards optimizing energy across industries, there would be a surge in the overall market demand, globally. In other words, with the increasing requirement for electricity, there would be a higher demand for steam turbines during the forecast period.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. Among these regions, Asia-Pacific is expected to be dominant throughout the forecast period. The market growth in this region is majorly attributed to the growing demand for steam turbines in countries such as Thailand, Japan, South Korea, and Indonesia, among others, due to the development of a number of coal-fired plants in these countries. North America and Europe are also expected to offer promising growth opportunities during the forecast period.
According to the report, the key players of the market are –
- Ansaldo Energia
- Elliott Group
- DONGFANG TURBINE CO., LTD.
- Fuji Electric Co., Ltd.
- General Electric
- Kawasaki Heavy Industries, Ltd.
- Mitsubishi Power, Ltd.
- Mitsui E&S Holdings Co., Ltd.
- Siemens Energy
- Toshiba America Energy Systems Corp.
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