Market Overview:
The global industrial & marine steam turbine market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for electricity and rising investments in power generation projects across the globe. In addition, the growing demand for oil & gas and chemical industries is also propelling the growth of this market. Based on type, the global industrial & marine steam turbine market can be segmented into condensing steam turbines and non-condensing steam turbines. The condensing segment is expected to account for a larger share of this market during the forecast period owing to its higher efficiency as compared to non-condensing turbines. Based on application, this market can be divided into oil & gas, chemical, power generation and others segments.
Product Definition:
A steam turbine is a device that extracts thermal energy from pressurized steam and uses it to do mechanical work on a rotating output shaft. Industrial & Marine Steam Turbine are used in many applications such as power generation, marine propulsion, pumping, and compressing.
Condensing Steam Turbine:
Condensing steam turbine is a type of steam turbine which does not require external cooling water. The working fluid in such turbines is saturated dry air, which is led into the core of the machine where it expands to provide energy-saving effect. These types of turbines are used for power generation in various industries and marine applications as they do not require any additional cooling water supply and can operate at much higher temperatures than conventional ones.
Non-Condensing Steam Turbine:
Non-condensing steam turbine is a type of steam engine which does not require a condenser, and thus it is also known as dry or non-recoiling turbine. These turbines are primarily used for power generation in industrial and marine applications.
Application Insights:
The oil & gas application segment led the global industry and accounted for more than 30.0% of the total revenue in 2017. The segment is expected to witness significant growth over the forecast period on account of increasing demand for steam turbines in onshore and offshore oil facilities, chemical plants, power generation plants among others.
Chemical manufacturing is one of the major applications that are anticipated to drive demand over the forecast period owing to growing investments in various industries including pharmaceuticals and food processing among others across several countries globally. Growing environmental regulations regarding reduction of harmful emissions from these facilities is also expected to have a positive impact on market growth over the next eight years or so as many manufacturers are adopting modern technologies such as scrubbers and boilers which leads into emission reduction thus driving demand further during this time span.
Regional Analysis:
Asia Pacific dominated the global industry with a revenue share of over 40% in 2017. The region is expected to continue its dominance over the forecast period as well, owing to increasing demand for steam turbines from various end-use industries such as chemicals and power generation. China is projected to remain a key market in Asia Pacific, owing to its rapid industrialization and expanding chemical sector.
North America accounted for more than 20% of the overall revenue share in 2017 on account of growing oil & gas E&P activities across U.S., Canada, and Mexico that are anticipated to drive regional growth over the forecast period.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Stringent environmental regulations for power plants that use fossil fuels
- Development of new, more efficient steam turbine technologies
- Growing popularity of combined cycle power plants
- Increased investment in renewable energy sources such as wind and solar
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial & Marine Steam Turbine Market Research Report
By Type
Condensing Steam Turbine, Non-Condensing Steam Turbine
By Application
Oil & Gas, Chemical, Power Generation, Others
By Companies
GE, Siemens, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, MAN Energy Solutions, Rolls-Royce, Harbin Turbine, Doosan Skoda Power, Elliott, Fuji Electric, Toshiba, Ansaldo, Solar Turbines, Baker Hughes
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
156
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Industrial & Marine Steam Turbine Market Report Segments:
The global Industrial & Marine Steam Turbine market is segmented on the basis of:
Types
Condensing Steam Turbine, Non-Condensing Steam Turbine
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Oil & Gas, Chemical, Power Generation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE
- Siemens
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries
- MAN Energy Solutions
- Rolls-Royce
- Harbin Turbine
- Doosan Skoda Power
- Elliott
- Fuji Electric
- Toshiba
- Ansaldo
- Solar Turbines
- Baker Hughes
Highlights of The Industrial & Marine Steam Turbine Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Condensing Steam Turbine
- Non-Condensing Steam Turbine
- By Application:
- Oil & Gas
- Chemical
- Power Generation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial & Marine Steam Turbine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An industrial and marine steam turbine is a type of steam engine that uses water as the working fluid. The steam turbine was first developed in the 1800s, and it has since become one of the most common types of engines used in industry and maritime applications.
Some of the major companies in the industrial & marine steam turbine market are GE, Siemens, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, MAN Energy Solutions, Rolls-Royce, Harbin Turbine, Doosan Skoda Power, Elliott, Fuji Electric, Toshiba, Ansaldo, Solar Turbines, Baker Hughes.
The industrial & marine steam turbine market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial & Marine Steam Turbine Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial & Marine Steam Turbine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial & Marine Steam Turbine Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial & Marine Steam Turbine Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial & Marine Steam Turbine Market Size & Forecast, 2020-2028
4.5.1 Industrial & Marine Steam Turbine Market Size and Y-o-Y Growth
4.5.2 Industrial & Marine Steam Turbine Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Condensing Steam Turbine
5.2.2 Non-Condensing Steam Turbine
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Oil & Gas
6.2.2 Chemical
6.2.3 Power Generation
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial & Marine Steam Turbine Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial & Marine Steam Turbine Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Condensing Steam Turbine
9.6.2 Non-Condensing Steam Turbine
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Oil & Gas
9.10.2 Chemical
9.10.3 Power Generation
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Condensing Steam Turbine
10.6.2 Non-Condensing Steam Turbine
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Oil & Gas
10.10.2 Chemical
10.10.3 Power Generation
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Condensing Steam Turbine
11.6.2 Non-Condensing Steam Turbine
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Oil & Gas
11.10.2 Chemical
11.10.3 Power Generation
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Condensing Steam Turbine
12.6.2 Non-Condensing Steam Turbine
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Oil & Gas
12.10.2 Chemical
12.10.3 Power Generation
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Condensing Steam Turbine
13.6.2 Non-Condensing Steam Turbine
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Oil & Gas
13.10.2 Chemical
13.10.3 Power Generation
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial & Marine Steam Turbine Market: Competitive Dashboard
14.2 Global Industrial & Marine Steam Turbine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE
14.3.2 Siemens
14.3.3 Kawasaki Heavy Industries
14.3.4 Mitsubishi Heavy Industries
14.3.5 MAN Energy Solutions
14.3.6 Rolls-Royce
14.3.7 Harbin Turbine
14.3.8 Doosan Skoda Power
14.3.9 Elliott
14.3.10 Fuji Electric
14.3.11 Toshiba
14.3.12 Ansaldo
14.3.13 Solar Turbines
14.3.14 Baker Hughes
