Global Steam Turbine Market Outlook, Opportunities And Strategies – Includes Steam Turbine Market Growth
The reports have been updated with the most recent Ukraine-Russia War impact on market growth for all 27+ industries. The reports also provide possible solutions and opportunities for surviving this crisis.
Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies!
The global steam turbine market is expected to grow from $16.37 billion in 2021 to $16.88 billion in 2022 at a compound annual growth rate (CAGR) of 3.33%. The global steam turbine market size is expected to grow to $20.06 billion in 2026 at a compound annual growth rate (CAGR) of 4.41%.
The increasing focus on renewable energy is expected to propel the growth of the steam turbine market.
Request A Sample For The Global Steam Turbine Market Report:
The steam turbine market consists of sales of steam turbines by entities (organizations, sole traders, and partnerships) that refer to a machine that converts thermal energy from pressurized steam and transforms it into mechanical work on a rotating output shaft. It uses heat sources such as gas, coal, nuclear, and solar to heat water at extremely high temperatures until it is converted into steam. The main parts of stream turbines are rotors and blades.
By Plant Type: Gas, Coal, Nuclear, Others
By Capacity: Rated Power (<60MW), Rated Power (60-200MW), Rated Power (>200MW)
By Technology: Steam Cycle, Combined Cycle, Cogeneration
By Design: Reaction, Impulse
By End-Use Industry: Power and Utility, Industrial
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe is the largest region in the global steam turbine market in 2021.
Environmentally friendly and efficient cogeneration process is a key trend in the steam turbine market. Joint production or cogeneration or combined heat and power (CHP) is a method in which a simple cycle gas turbine generates electricity and steam and additional steam for other actions like drying. This method is being used in various steam turbines, proving much more efficient than other processes. This process recovers heat from energy loss pathways and uses it to generate electricity. The CHP method can produce electricity concurrently and useful thermal energy from a single source of fuel.
TBRC’s Steam Turbine Market Report Covers:
Major Market Players: General Electric (GE) Co, Fuji Electric, Toshiba Corporation, Siemens, Arani Power Systems, Elliott Group, Doosan Škoda Power, Chola Turbo Machinery International Pvt Ltd, Mitsubishi Hitachi Power Systems, Ansaldo Energia, Bharat Heavy Electricals Limited, MAN Energy Solutions, DONGFANG TURBINE, Kawasaki Heavy Industries, Harbin Electric, AIstom SA, Toshiba JSW Power Systems Private Limited, Kessels Steam Turbines and Hyundai Heavy Industries.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Steam Turbine Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides steam turbine market overviews, analyzes and forecasts market size, share, steam turbine market players, steam turbine market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s steam turbine market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports From The Business Research Company:
Interested To Know More About The Business Research Company?
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Follow us on Twitter: https://twitter.com/tbrc_info
Check out our Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: