Market Overview:
The global industrial 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 utilities, engineering, and other applications across the globe. In terms of type, gas turbines are expected to dominate the global industrial turbines market during the forecast period owing to their high efficiency and low emissions levels as compared to other types of industrial turbines. By application, power and utilities is expected to account for a major share of the global industrial turbines market in 2018 owing to rising demand for electricity from both developed and developing countries.
Product Definition:
Industrial turbines are machines that use the power of moving gas or steam to turn a shaft and generate rotational energy. This rotational energy can then be used to power various devices, including electric generators, pumps, compressors, and fans. Industrial turbines come in many different sizes and types, but all share the same basic mechanism for converting kinetic energy into mechanical work.
Gas Turbines:
Gas turbines are combustion engines that convert the energy from a combustible gas to mechanical energy. They may be natural gas or diesel-fueled, but they operate on similar principles. The major difference is that they are much simpler and more efficient than internal combustion engines; as there is no reciprocating engine within the turbine, its operation can be controlled by using only one variable - speed.
Steam Turbines:
A steam turbine is a machine that extracts energy from a hot liquid, which may be water or another type of fluid. The steam produced by the turbine is then used to power an engine to produce electricity. Steam turbines are used in various industries such as power generation, marine and thermal energy production among others.
Application Insights:
The power and utility application segment accounted for the largest revenue 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, such as steel and cement industries. Increasing number of power projects across the globe is also likely to contribute significantly towards industry growth over the forecast period.
Engineering applications are projected to expand at a CAGR of XX% from 2018 to 2030 owing to increasing use of turbines in water & wastewater treatment plants, desalination facilities and oil & gas refineries among others sectors.
Regional Analysis:
Asia Pacific is expected to be the largest and fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for electricity in emerging economies, such as China and India. In 2017, Asia Pacific accounted for a share of more than 30% of global industrial turbines market revenue owing to large-scale installation of these units in countries like China and India.
China is projected to witness significant growth over the next eight years on account of rapid development in its power sector coupled with strong economic growth. Moreover, rising awareness regarding energy conservation will drive demand for clean energy sources which will further propel industry expansion over the coming years.
Europe accounted for a significant share owing to stringent government regulations pertaining steam turbine technology along with gas turbine technology that are followed across most European countries including Germany, France Italy Russia Spain UK etc.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Rising need for reliable and efficient power generation to meet the growing demand for electricity
- Technological advancements in industrial turbines that improve performance, efficiency, and reduce emissions
- Growing popularity of combined heat and power (CHP) systems that use industrial turbines to generate both heat and power from a single fuel source
- Increased focus on renewable energy sources such as wind and solar, which are expected to drive the growth of the industrial turbine market in the coming years
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Turbines Market Research Report
By Type
Gas Turbines, Steam Turbines
By Application
Power and Utility, Engineering, Others
By Companies
Ansaldo Energia, BHEL, GE, Siemens, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Fuji Electric, Toshiba, Peter Brotherhood, Doosan Skoda Power, Ansaldo Energia, Harbin Electric Machinery, Dongfang Electric
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
198
Number of Tables & Figures
139
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Turbines Market Report Segments:
The global Industrial Turbines market is segmented on the basis of:
Types
Gas Turbines, Steam 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:
- Ansaldo Energia
- BHEL
- GE
- Siemens
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries
- Fuji Electric
- Toshiba
- Peter Brotherhood
- Doosan Skoda Power
- Ansaldo Energia
- Harbin Electric Machinery
- Dongfang Electric
Highlights of The Industrial 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:
- Gas Turbines
- Steam 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 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:
- Correctly Positioning New Products
- Market Entry Strategies
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- 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?
Industrial turbines are machines that use the power of wind to turn gears and produce electricity. They are used in factories, power plants, and other industrial settings.
Some of the key players operating in the industrial turbines market are Ansaldo Energia, BHEL, GE, Siemens, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Fuji Electric, Toshiba, Peter Brotherhood, Doosan Skoda Power, Ansaldo Energia, Harbin Electric Machinery, Dongfang Electric.
The industrial turbines 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 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 Turbines Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial 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 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 Turbines Market Size & Forecast, 2018-2028
4.5.1 Industrial Turbines Market Size and Y-o-Y Growth
4.5.2 Industrial Turbines Market Absolute $ Opportunity
Chapter 5 Global Industrial Turbines 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 Industrial Turbines Market Size Forecast by Type
5.2.1 Gas Turbines
5.2.2 Steam Turbines
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Industrial Turbines 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 Industrial Turbines 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 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 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 Industrial Turbines Analysis and Forecast
9.1 Introduction
9.2 North America Industrial Turbines 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 Industrial Turbines Market Size Forecast by Type
9.6.1 Gas Turbines
9.6.2 Steam 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 Industrial Turbines 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 Industrial Turbines Analysis and Forecast
10.1 Introduction
10.2 Europe Industrial Turbines 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 Industrial Turbines Market Size Forecast by Type
10.6.1 Gas Turbines
10.6.2 Steam 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 Industrial Turbines 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 Industrial Turbines Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Industrial Turbines 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 Industrial Turbines Market Size Forecast by Type
11.6.1 Gas Turbines
11.6.2 Steam 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 Industrial Turbines 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 Industrial Turbines Analysis and Forecast
12.1 Introduction
12.2 Latin America Industrial Turbines 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 Industrial Turbines Market Size Forecast by Type
12.6.1 Gas Turbines
12.6.2 Steam 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 Industrial Turbines 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) Industrial Turbines Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Industrial Turbines 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) Industrial Turbines Market Size Forecast by Type
13.6.1 Gas Turbines
13.6.2 Steam 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) Industrial Turbines 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 Turbines Market: Competitive Dashboard
14.2 Global Industrial Turbines Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ansaldo Energia
14.3.2 BHEL
14.3.3 GE
14.3.4 Siemens
14.3.5 Kawasaki Heavy Industries
14.3.6 Mitsubishi Heavy Industries
14.3.7 Fuji Electric
14.3.8 Toshiba
14.3.9 Peter Brotherhood
14.3.10 Doosan Skoda Power
14.3.11 Ansaldo Energia
14.3.12 Harbin Electric Machinery
14.3.13 Dongfang Electric
