Global Steam Turbine Market size was valued at over USD 14 billion in 2017 and the annual capacity is set to exceed 130 GW by 2024
Growing measures to mitigate the electricity demand & supply gap along with ongoing development of large thermal power projects will drive the market growth.
(EMAILWIRE.COM, August 08, 2018 ) Steam Turbine Market is predicted to surpass USD 24 Billion by 2024. Stringent government norms to promote clean fuels along with accelerating investments toward the development of thermal power plants will foster the industry growth. Growing inclination toward the efficient consumption of energy will further stimulate the business outlook. According to EIA, in last five years the combined cycle capacity has amplified by 14% across the U.S.
UK steam turbine market is set to surpass USD 190 million by 2024. Shifting trends toward cogeneration and CHP based electricity generating plants along with strict regulatory norms toward coal-based power plants will propel the industry outlook. Refurbishment of existing generating stations with an aim to reduce carbon emissions and improve efficiency will stimulate the business growth.
Ongoing deployment of coal-based plants across the Africa owing to low fuel prices and improved efficiency will stimulate the condensing steam turbine market. Low maintenance cost, improved efficiencies, high thermal efficiency and reduced carbon footprints are some of the prominent features which will stimulate the product adoption. In addition, the rising power demand across the emerging economies along with stringent regulatory measures to enhance the electricity demand will foster the industry outlook.
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3 – 100 MW capacity plant is projected to expand over 8% by 2024. Growing installation of gas-based plants owing to their high electricity output and higher efficiency ratio will foster the steam turbine market. These capacity plants find their wide application across energy intensive industries including paper, chemicals, pulp and sugar.
Stringent government norms toward conventional technologies along with increasing investments toward the development of sustainable energy technologies will stimulate the business biomass-based steam turbine market. In addition, the regulatory framework to support low emission fuels will foster the business growth.
Growing manufacturing sector coupled with rapid economic expansion across the country will propel the steam turbine market in China. Paradigm shift toward various cogeneration technologies owing to the governments ambitious targets to reduce emissions will positively influence the industry growth. China has planned to install CHP and biomass based generating stations of 12 MW capacity by 2020 & 25 GW by 2035.
Eminent industry players catering across the steam turbine market includes Siemens, Toshiba, Kawasaki Heavy Industries, Mitsui, Fuji Electric, GE, BHEL, MAN, Dongfang, Eliott Group, Ansaldo Energia, Harbine Turbine and Turbo Tech. Key industry players are providing high-end product upgradation and customization services as a major strategic inference to strengthen their industry presence.
Report Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Steam Turbine industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Design trends
2.1.3. Exhaust trends
2.1.4. Fuel Trends
2.1.5. End-use trends
2.1.6. Capacity trends
2.1.7. Technology trends
2.1.8. Regional trends
UK steam turbine market is set to surpass USD 190 million by 2024. Shifting trends toward cogeneration and CHP based electricity generating plants along with strict regulatory norms toward coal-based power plants will propel the industry outlook. Refurbishment of existing generating stations with an aim to reduce carbon emissions and improve efficiency will stimulate the business growth.
Ongoing deployment of coal-based plants across the Africa owing to low fuel prices and improved efficiency will stimulate the condensing steam turbine market. Low maintenance cost, improved efficiencies, high thermal efficiency and reduced carbon footprints are some of the prominent features which will stimulate the product adoption. In addition, the rising power demand across the emerging economies along with stringent regulatory measures to enhance the electricity demand will foster the industry outlook.
Request for Sample Copy of this research report @ https://www.gminsights.com/request-sample/detail/1269
3 – 100 MW capacity plant is projected to expand over 8% by 2024. Growing installation of gas-based plants owing to their high electricity output and higher efficiency ratio will foster the steam turbine market. These capacity plants find their wide application across energy intensive industries including paper, chemicals, pulp and sugar.
Stringent government norms toward conventional technologies along with increasing investments toward the development of sustainable energy technologies will stimulate the business biomass-based steam turbine market. In addition, the regulatory framework to support low emission fuels will foster the business growth.
Growing manufacturing sector coupled with rapid economic expansion across the country will propel the steam turbine market in China. Paradigm shift toward various cogeneration technologies owing to the governments ambitious targets to reduce emissions will positively influence the industry growth. China has planned to install CHP and biomass based generating stations of 12 MW capacity by 2020 & 25 GW by 2035.
Eminent industry players catering across the steam turbine market includes Siemens, Toshiba, Kawasaki Heavy Industries, Mitsui, Fuji Electric, GE, BHEL, MAN, Dongfang, Eliott Group, Ansaldo Energia, Harbine Turbine and Turbo Tech. Key industry players are providing high-end product upgradation and customization services as a major strategic inference to strengthen their industry presence.
Report Content
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Steam Turbine industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Design trends
2.1.3. Exhaust trends
2.1.4. Fuel Trends
2.1.5. End-use trends
2.1.6. Capacity trends
2.1.7. Technology trends
2.1.8. Regional trends
Contact Information:
Global Market Insights, Inc.
Arun Hegde
Tel: 1-888-689-0688
Email us
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Global Market Insights, Inc.
Arun Hegde
Tel: 1-888-689-0688
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results