Market Overview:
The global steam turbine for power generation 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 concerns over climate change. In terms of type, the market is segmented into under 300 MW, 300 MW to 600 MW, and above 600 MW segments. The above 600 MW segment is expected to grow at a higher CAGR as compared to other segments during the forecast period. This can be attributed to the increasing demand for large-scale power plants across the globe. In terms of application, the steam turbine for power generation market is segmented into steam cycle thermal power plant, combined cycle thermal power plant, cogeneration thermal power plant 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 shaft. The rotating shaft can be used to power machinery, such as an electric generator, or it can be used to propel a ship.
Under 300 MW:
Under 300 MW, it's usage and growth factor in Steam Turbine for Power Generation market is expected to witness significant growth over the forecast period. The primary factors driving this market are increasing demand for electricity along with rapid industrialization and urbanization.
300 MW to 600 MW:
300 MW to 600 MW is the range of size of steam turbine used in power generation plants. It has wide application scope in thermal and nuclear power plants for producing electricity. The 300MW to 600MW steam turbines are widely used by countries such as China, India, Russia, UAE and Saudi Arabia for their power generation sector owing to growing demand from the end-use segment such as industrial & commercial sectors along with residential areas.
Application Insights:
The combined cycle thermal power plant segment accounted for the largest revenue share of over 50% in 2017. The application of SGTPs is gaining significant traction owing to several benefits including improved efficiency, higher boiler temperatures, and lower maintenance costs as compared to steam cycle TP plants.
The cogeneration thermal power plant segment is expected to witness the fastest growth rate over the forecast period. This can be attributed to favorable government regulations that favor increased use of clean energy sources such as wind and solar in many countries around the world including China, Germany, Spain and Italy among others.
Other applications include small scale hydroelectricity projects (SSH) which are primarily used in remote areas with no access to grid electricity due largely geographic location or financial constraints on large-scale investments into electrical grids construction within these regions.
Regional Analysis:
Asia Pacific is expected to be the largest market for steam turbines and accounted for over 35% of global demand in 2016. The region is anticipated to witness significant growth owing to increasing electricity demand-supply gap, especially in China and India. In addition, rising government investments & policies promoting clean energy sources are expected to drive the market over the forecast period.
Europe was valued at USD X million in 2017 owing to high utilization rates of power generation units coupled with stringent environmental regulations by IEA regarding carbon emissions from power plants affecting industry dynamics across Europe as well as Asia Pacific regions respectively.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Government policies encouraging the use of renewable energy sources
- Technological advancements in steam turbine design and manufacturing
- Rising prices of traditional fuels such as coal, oil, and natural gas
- Environmental concerns over the use of fossil fuels
Scope Of The Report
Report Attributes
Report Details
Report Title
Steam Turbine for Power Generation Market Research Report
By Type
Under 300 MW, 300 MW to 600 MW, Above 600 MW
By Application
Steam Cycle Thermal Power Plant, Combined Cycle Thermal Power Plant, Cogeneration Thermal Power Plant
By Companies
Shanghai Electric, Dongfang Electric, Harbin Electric Corporation, General Electric, Siemens, Bharat Heavy Electricals, Elliott Group, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Toshiba America Energy Systems Corporation, Fuji Electric, Peter Brotherhood, Ansaldo Energia, Bharat Heavy Electricals Limited, Doosan Skoda Power, TGM Kanis Turbinen, 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
238
Number of Tables & Figures
167
Customization Available
Yes, the report can be customized as per your need.
Global Steam Turbine for Power Generation Market Report Segments:
The global Steam Turbine for Power Generation market is segmented on the basis of:
Types
Under 300 MW, 300 MW to 600 MW, Above 600 MW
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
Steam Cycle Thermal Power Plant, Combined Cycle Thermal Power Plant, Cogeneration Thermal Power Plant
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:
- Shanghai Electric
- Dongfang Electric
- Harbin Electric Corporation
- General Electric
- Siemens
- Bharat Heavy Electricals
- Elliott Group
- Kawasaki Heavy Industries
- Mitsubishi Heavy Industries
- Toshiba America Energy Systems Corporation
- Fuji Electric
- Peter Brotherhood
- Ansaldo Energia
- Bharat Heavy Electricals Limited
- Doosan Skoda Power
- TGM Kanis Turbinen
- OJSC Power Machines
Highlights of The Steam Turbine for Power Generation 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:
- Under 300 MW
- 300 MW to 600 MW
- Above 600 MW
- By Application:
- Steam Cycle Thermal Power Plant
- Combined Cycle Thermal Power Plant
- Cogeneration Thermal Power Plant
- 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 Steam Turbine for Power Generation 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.
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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?
Steam turbine is a type of engine that uses steam to turn a shaft. The steam turns the blades on the rotor, which in turn creates mechanical energy that can be used to power things like generators or motors.
Some of the major companies in the steam turbine for power generation market are Shanghai Electric, Dongfang Electric, Harbin Electric Corporation, General Electric, Siemens, Bharat Heavy Electricals, Elliott Group, Kawasaki Heavy Industries, Mitsubishi Heavy Industries, Toshiba America Energy Systems Corporation, Fuji Electric, Peter Brotherhood, Ansaldo Energia, Bharat Heavy Electricals Limited, Doosan Skoda Power, TGM Kanis Turbinen, OJSC Power Machines.
The steam turbine for power generation market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Steam Turbine for Power Generation Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Steam Turbine for Power Generation Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Steam Turbine for Power Generation Market - Supply Chain
4.5. Global Steam Turbine for Power Generation Market Forecast
4.5.1. Steam Turbine for Power Generation Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Steam Turbine for Power Generation Market Size (000 Units) and Y-o-Y Growth
4.5.3. Steam Turbine for Power Generation Market Absolute $ Opportunity
5. Global Steam Turbine for Power Generation Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Steam Turbine for Power Generation Market Size and Volume Forecast by Type
5.3.1. Under 300 MW
5.3.2. 300 MW to 600 MW
5.3.3. Above 600 MW
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Steam Turbine for Power Generation Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Steam Turbine for Power Generation Market Size and Volume Forecast by Application
6.3.1. Steam Cycle Thermal Power Plant
6.3.2. Combined Cycle Thermal Power Plant
6.3.3. Cogeneration Thermal Power Plant
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Steam Turbine for Power Generation Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Steam Turbine for Power Generation Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Steam Turbine for Power Generation Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Steam Turbine for Power Generation Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Steam Turbine for Power Generation Demand Share Forecast, 2019-2026
9. North America Steam Turbine for Power Generation Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Steam Turbine for Power Generation Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Steam Turbine for Power Generation Market Size and Volume Forecast by Application
9.4.1. Steam Cycle Thermal Power Plant
9.4.2. Combined Cycle Thermal Power Plant
9.4.3. Cogeneration Thermal Power Plant
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Steam Turbine for Power Generation Market Size and Volume Forecast by Type
9.7.1. Under 300 MW
9.7.2. 300 MW to 600 MW
9.7.3. Above 600 MW
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Steam Turbine for Power Generation Demand Share Forecast, 2019-2026
10. Latin America Steam Turbine for Power Generation Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Steam Turbine for Power Generation Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Steam Turbine for Power Generation Market Size and Volume Forecast by Application
10.4.1. Steam Cycle Thermal Power Plant
10.4.2. Combined Cycle Thermal Power Plant
10.4.3. Cogeneration Thermal Power Plant
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Steam Turbine for Power Generation Market Size and Volume Forecast by Type
10.7.1. Under 300 MW
10.7.2. 300 MW to 600 MW
10.7.3. Above 600 MW
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Steam Turbine for Power Generation Demand Share Forecast, 2019-2026
11. Europe Steam Turbine for Power Generation Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Steam Turbine for Power Generation Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Steam Turbine for Power Generation Market Size and Volume Forecast by Application
11.4.1. Steam Cycle Thermal Power Plant
11.4.2. Combined Cycle Thermal Power Plant
11.4.3. Cogeneration Thermal Power Plant
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Steam Turbine for Power Generation Market Size and Volume Forecast by Type
11.7.1. Under 300 MW
11.7.2. 300 MW to 600 MW
117.3. Above 600 MW
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Steam Turbine for Power Generation Demand Share, 2019-2026
12. Asia Pacific Steam Turbine for Power Generation Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Steam Turbine for Power Generation Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Steam Turbine for Power Generation Market Size and Volume Forecast by Application
12.4.1. Steam Cycle Thermal Power Plant
12.4.2. Combined Cycle Thermal Power Plant
12.4.3. Cogeneration Thermal Power Plant
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Steam Turbine for Power Generation Market Size and Volume Forecast by Type
12.7.1. Under 300 MW
12.7.2. 300 MW to 600 MW
12.7.3. Above 600 MW
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Steam Turbine for Power Generation Demand Share, 2019-2026
13. Middle East & Africa Steam Turbine for Power Generation Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Steam Turbine for Power Generation Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Steam Turbine for Power Generation Market Size and Volume Forecast by Application
13.4.1. Steam Cycle Thermal Power Plant
13.4.2. Combined Cycle Thermal Power Plant
13.4.3. Cogeneration Thermal Power Plant
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Steam Turbine for Power Generation Market Size and Volume Forecast by Type
13.7.1. Under 300 MW
13.7.2. 300 MW to 600 MW
13.7.3. Above 600 MW
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Steam Turbine for Power Generation Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Steam Turbine for Power Generation Market: Market Share Analysis
14.2. Steam Turbine for Power Generation Distributors and Customers
14.3. Steam Turbine for Power Generation Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Shanghai Electric
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Dongfang Electric
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Harbin Electric Corporation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. General Electric
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Siemens
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Bharat Heavy Electricals
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Elliott Group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kawasaki Heavy Industries
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Mitsubishi Heavy Industries
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Toshiba America Energy Systems Corporation
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Fuji Electric
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Peter Brotherhood
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Ansaldo Energia
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Bharat Heavy Electricals Limited
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Doosan Skoda Power
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. TGM Kanis Turbinen
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. OJSC Power Machines
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
