Market Overview:
The global subcritical pressure 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 concerns for environment-friendly technologies. By type, the 350 MV segment is expected to dominate the market during the forecast period, owing to its high efficiency and low emissions. By application, chemical industry is projected to be the fastest-growing segment during the forecast period, owing to increasing investments in this sector across different regions. North America dominates the global subcritical pressure turbine market with a share of more than 30%, followed by Europe and Asia Pacific.
Product Definition:
A subcritical pressure turbine is a type of turbine that operates at a pressure below the critical point of the fluid being used. This type of turbine is often used in steam power plants, as it can operate more efficiently at lower pressures than a supercritical pressure turbine. The importance of this type of turbine lies in its ability to convert thermal energy into mechanical work more efficiently than other types of turbines.
350MV:
350MV is the maximum voltage that can be obtained with a conventional super critical fluid temperature power turbine. The 350MV rating signifies the highest possible efficiency obtainable with any subcritical pressure turbine. 350MV turbines are used in offshore locations where high power and high thermal efficiency are required.
The growth factor in subcritical pressure turbines is defined as (N-1) where N represents the number of stages within the blade assembly.
330MV:
The power output of the turbine increases with decreasing blade speed. The optimum operating range for a subcritical turbine is between 300-330 MVA. The power coefficient of the turbine decreases with increasing flow rate and viscosity of gas, which acts as an advantage for high pressure ratio turbines.
Increasing demand for energy in developing countries along with growing concerns regarding future energy supply has led to research activities in order to develop efficient low emission technologies that can help reduce carbon footprint.
Application Insights:
The power industry application segment led the global subcritical pressure turbine market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for clean energy sources such as wind turbines in order to meet the growing electricity needs across countries such as Germany, China, and India.
Subcritical pressure turbines are used for various applications including small hydropower generation, large hydropower generation (LPG), chemical industry process heat, waste heat recovery etc. In addition to this application segment; they are also used in niche applications such as food & beverage processing where low-temperature processes are employed or where extreme conditions require high reliability and efficiency equipment such as distillation column bottoms liquor Heating/Cooling Water Turbine (HCT).
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for clean energy and shifting focus towards reducing pollution levels in countries, such as China and India. Increasing need for power generation owing to growing population has led major companies in this region to invest more in subcritical pressure turbines. For instance, state-owned Power Grid Corporation of India has planned a capacity addition of 5700 MW by 2020 from its current capacity of 7000 MW through various projects, including ultra mega solar project (UMW) and wind power projects.
The U.S., being one of the most developed nations across the globe with high per capita income is anticipated to witness significant growth over the next eight years owing their strong presence across all sectors; manufacturing, construction, services etc.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting the use of subcritical pressure turbines for power generation
- Technological advancements that improve the efficiency and performance of subcritical pressure turbines
- Growing demand for renewable energy sources, such as wind and solar, which can be paired with subcritical pressure turbines to increase overall system efficiency
- Reduction in the cost of installing and operating subcritical pressure turbines
Scope Of The Report
Report Attributes
Report Details
Report Title
Subcritical Pressure Turbine Market Research Report
By Type
350MV, 330MV
By Application
Chemical Industry, Power Industry, Others
By Companies
Nanjing Turbine & Elecric Machinery, Shanghai Electric, Zibo Hongming, Ryongson International, Zhongguo Datang
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 Subcritical Pressure Turbine Market Report Segments:
The global Subcritical Pressure Turbine market is segmented on the basis of:
Types
350MV, 330MV
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
Chemical Industry, Power Industry, 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:
- Nanjing Turbine & Elecric Machinery
- Shanghai Electric
- Zibo Hongming
- Ryongson International
- Zhongguo Datang
Highlights of The Subcritical Pressure 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:
- 350MV
- 330MV
- By Application:
- Chemical Industry
- Power Industry
- 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 Subcritical Pressure 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.
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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?
A subcritical pressure turbine is a type of turbine that uses a fluid to turn a shaft. The fluid is under pressure, but not at the critical point where the gas and liquid phases can no longer exist together. This allows the turbine to run at lower speeds and use less energy than other turbines.
Some of the key players operating in the subcritical pressure turbine market are Nanjing Turbine & Elecric Machinery, Shanghai Electric, Zibo Hongming, Ryongson International, Zhongguo Datang.
The subcritical pressure turbine market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Subcritical Pressure Turbine 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. Subcritical Pressure Turbine Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Subcritical Pressure Turbine Market - Supply Chain
4.5. Global Subcritical Pressure Turbine Market Forecast
4.5.1. Subcritical Pressure Turbine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Subcritical Pressure Turbine Market Size (000 Units) and Y-o-Y Growth
4.5.3. Subcritical Pressure Turbine Market Absolute $ Opportunity
5. Global Subcritical Pressure Turbine 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. Subcritical Pressure Turbine Market Size and Volume Forecast by Type
5.3.1. 350MV
5.3.2. 330MV
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Subcritical Pressure Turbine 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. Subcritical Pressure Turbine Market Size and Volume Forecast by Application
6.3.1. Chemical Industry
6.3.2. Power Industry
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Subcritical Pressure Turbine 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. Subcritical Pressure Turbine 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 Subcritical Pressure Turbine 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. Subcritical Pressure Turbine 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 Subcritical Pressure Turbine Demand Share Forecast, 2019-2026
9. North America Subcritical Pressure Turbine 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 Subcritical Pressure Turbine 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 Subcritical Pressure Turbine Market Size and Volume Forecast by Application
9.4.1. Chemical Industry
9.4.2. Power Industry
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Subcritical Pressure Turbine Market Size and Volume Forecast by Type
9.7.1. 350MV
9.7.2. 330MV
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 Subcritical Pressure Turbine Demand Share Forecast, 2019-2026
10. Latin America Subcritical Pressure Turbine 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 Subcritical Pressure Turbine 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 Subcritical Pressure Turbine Market Size and Volume Forecast by Application
10.4.1. Chemical Industry
10.4.2. Power Industry
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Subcritical Pressure Turbine Market Size and Volume Forecast by Type
10.7.1. 350MV
10.7.2. 330MV
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 Subcritical Pressure Turbine Demand Share Forecast, 2019-2026
11. Europe Subcritical Pressure Turbine 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 Subcritical Pressure Turbine 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 Subcritical Pressure Turbine Market Size and Volume Forecast by Application
11.4.1. Chemical Industry
11.4.2. Power Industry
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Subcritical Pressure Turbine Market Size and Volume Forecast by Type
11.7.1. 350MV
11.7.2. 330MV
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 Subcritical Pressure Turbine Demand Share, 2019-2026
12. Asia Pacific Subcritical Pressure Turbine 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 Subcritical Pressure Turbine 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 Subcritical Pressure Turbine Market Size and Volume Forecast by Application
12.4.1. Chemical Industry
12.4.2. Power Industry
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Subcritical Pressure Turbine Market Size and Volume Forecast by Type
12.7.1. 350MV
12.7.2. 330MV
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 Subcritical Pressure Turbine Demand Share, 2019-2026
13. Middle East & Africa Subcritical Pressure Turbine 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 Subcritical Pressure Turbine 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 Subcritical Pressure Turbine Market Size and Volume Forecast by Application
13.4.1. Chemical Industry
13.4.2. Power Industry
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Subcritical Pressure Turbine Market Size and Volume Forecast by Type
13.7.1. 350MV
13.7.2. 330MV
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 Subcritical Pressure Turbine Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Subcritical Pressure Turbine Market: Market Share Analysis
14.2. Subcritical Pressure Turbine Distributors and Customers
14.3. Subcritical Pressure Turbine Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Nanjing Turbine & Elecric Machinery
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Shanghai 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. Zibo Hongming
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Ryongson International
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Zhongguo Datang
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. COMPANY6
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
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
