Market Overview:
The global industrial steam turbines 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 power and utility, engineering, and other applications across the globe. In terms of type, reaction turbines are expected to dominate the global industrial steam turbines market during the forecast period owing to their high efficiency and low emissions levels as compared to impulse turbines. Asia Pacific is expected to be the fastest growing region in terms of revenue during the forecast period owing to rapid industrialization and rising demand for power in countries such as China and India.
Product Definition:
Industrial steam turbines are machines that generate rotational energy from the heat of pressurized steam. The rotational energy is used to power various industrial processes, including the generation of electricity. Industrial steam turbines are an important part of modern industry, and play a role in the production of everything from cars to smartphones.
Reaction Turbines:
Reaction turbines are used in industrial steam turbines to convert the energy from feed water into useful form for driving the turbine blades. The chemical reaction involved is exothermic and takes place between a hot liquid and a cold gas, i.e., between feed water and steam.
The conversion of heat energy into mechanical work is done by using various materials such as copper, nickel, iron alloys, etc.
Impulse Turbines:
An impulse turbine is a type of gas turbine which has no moving parts and hence it is called as an impulsive turbine. The working principle of this type of turbines is based on the steam flow that comes out from the core, which causes a pressure pulse in the blades, and then they move towards the direction of low pressure area.
Application Insights:
Power and utility application segment accounted for the largest share of over 50% in 2017. The segment is expected to witness significant growth on account of rising demand for electricity generation from industrial sources. Rapidly growing urbanization along with industrialization and infrastructure development in emerging economies such as India, China, Brazil, South Africa & Mexico is anticipated to boost the product demand over the forecast period.
Engineering application was one of the prominent segments accounting for a share exceeding 20% in 2017 owing to increasing use of steam turbines as prime movers in various industries including power generation, desalination plants and pulp and paper mills among others. Increasing use of reaction turbine due to its ability to convert low-cost fossil fuels into high-quality energy while minimizing environmental impact is projected to drive their demand over the forecast period significantly contributing towards overall industry growth during this period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid growth in numerous industries, such as chemicals, metal processing, textiles and garments, food processing over the past few years. This has led to an increase in demand for industrial steam turbines for power generation applications.
The growing manufacturing sector across emerging economies of Asia Pacific including China and India coupled with increasing investments from foreign players is likely to drive regional growth during the forecast period. In addition, favorable government policies aimed at promoting renewable energy sources are anticipated to further fuel industry expansion over the next eight years. For instance; China’s 13th Energy Technology Innovation Promotion Program was launched in 2014 which supports innovation-based development of new energy technologies such as biomass gasification combined cycle gas turbine (NGT), etc.
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 steam turbine technologies and products that improve efficiency and reduce emissions
- Expansion of renewable energy sources such as wind and solar, which require backup power generation from steam turbines
- Growing demand for distributed or decentralized power generation systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Steam Turbines Market Research Report
By Type
Reaction Turbines, Impulse Turbines
By Application
Power and Utility, Engineering, Others
By Companies
Harbin Electric Machinery Co., Ltd., Dongfang Electric Corporation, Elliott Group, Kawasaki Heavy Industries Ltd., General Electric Company, Siemens AG, Mitsubishi Heavy Industries, Ltd., Toshiba America Energy Systems Corporation, Ansaldo Energia s.p.a, Peter Brotherhood Ltd., Harbin Electric Machinery Co., Ltd., Bharat Heavy Electricals Limited, Doosan Skoda Power, TGM Kanis Turbinen GmbH, OJSC Power Machines
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
245
Number of Tables & Figures
172
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Steam Turbines Market Report Segments:
The global Industrial Steam Turbines market is segmented on the basis of:
Types
Reaction Turbines, Impulse Turbines
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
Power and Utility, Engineering, 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:
- Harbin Electric Machinery Co., Ltd.
- Dongfang Electric Corporation
- Elliott Group
- Kawasaki Heavy Industries Ltd.
- General Electric Company
- Siemens AG
- Mitsubishi Heavy Industries, Ltd.
- Toshiba America Energy Systems Corporation
- Ansaldo Energia s.p.a
- Peter Brotherhood Ltd.
- Harbin Electric Machinery Co., Ltd.
- Bharat Heavy Electricals Limited
- Doosan Skoda Power
- TGM Kanis Turbinen GmbH
- OJSC Power Machines
Highlights of The Industrial Steam Turbines 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:
- Reaction Turbines
- Impulse Turbines
- By Application:
- Power and Utility
- Engineering
- 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 Steam Turbines 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:
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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?
Industrial steam turbines are a type of steam engine that is used in industrial applications. They are typically used to power machines, such as mills, factories, and power plants.
Some of the major players in the industrial steam turbines market are Harbin Electric Machinery Co., Ltd., Dongfang Electric Corporation, Elliott Group, Kawasaki Heavy Industries Ltd., General Electric Company, Siemens AG, Mitsubishi Heavy Industries, Ltd., Toshiba America Energy Systems Corporation, Ansaldo Energia s.p.a, Peter Brotherhood Ltd., Harbin Electric Machinery Co., Ltd., Bharat Heavy Electricals Limited, Doosan Skoda Power, TGM Kanis Turbinen GmbH, OJSC Power Machines.
The industrial steam turbines market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Steam Turbines 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 Steam Turbines Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Steam Turbines 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 Steam Turbines 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 Steam Turbines Market Size & Forecast, 2020-2028
4.5.1 Industrial Steam Turbines Market Size and Y-o-Y Growth
4.5.2 Industrial Steam Turbines 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 Reaction Turbines
5.2.2 Impulse Turbines
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 Power and Utility
6.2.2 Engineering
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Steam Turbines 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 Steam Turbines 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 Reaction Turbines
9.6.2 Impulse Turbines
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 Power and Utility
9.10.2 Engineering
9.10.3 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 Reaction Turbines
10.6.2 Impulse Turbines
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 Power and Utility
10.10.2 Engineering
10.10.3 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 Reaction Turbines
11.6.2 Impulse Turbines
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 Power and Utility
11.10.2 Engineering
11.10.3 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 Reaction Turbines
12.6.2 Impulse Turbines
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 Power and Utility
12.10.2 Engineering
12.10.3 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 Reaction Turbines
13.6.2 Impulse Turbines
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 Power and Utility
13.10.2 Engineering
13.10.3 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 Steam Turbines Market: Competitive Dashboard
14.2 Global Industrial Steam Turbines Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Harbin Electric Machinery Co., Ltd.
14.3.2 Dongfang Electric Corporation
14.3.3 Elliott Group
14.3.4 Kawasaki Heavy Industries Ltd.
14.3.5 General Electric Company
14.3.6 Siemens AG
14.3.7 Mitsubishi Heavy Industries, Ltd.
14.3.8 Toshiba America Energy Systems Corporation
14.3.9 Ansaldo Energia s.p.a
14.3.10 Peter Brotherhood Ltd.
14.3.11 Harbin Electric Machinery Co., Ltd.
14.3.12 Bharat Heavy Electricals Limited
14.3.13 Doosan Skoda Power
14.3.14 TGM Kanis Turbinen GmbH
14.3.15 OJSC Power Machines
