Global Steam Turbine Market 2015-2019
About Steam Turbine
Steam turbines are used to convert thermal energy of steam into mechanical energy with the help of blades attached to a rotor. Rotation of the turbine starts when high pressurized steam passes through a series of rotor blades.
TechNavio's analysts forecast the Global Steam Turbine market to grow at a CAGR of 3.0 percent over the period 2014-2019.
Covered in this Report
The Global Steam Turbine market has been segmented based on geography and capacity.
TechNavio's report, Global Steam Turbine Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Steam Turbine market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global Steam Turbine Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Steam Turbine Market: Alstom SA, Dongfang Electric Corporation (DEC) Ltd., Elliot Group, GE Energy, Hangzhou Steam Turbine Co. Ltd., Harbin Turbine Co. Ltd., Nanjing Turbine & Electric Machinery (Group) Co. Ltd., Shandong Qingneng Power (QNP) Co. Ltd., Shanghai Electric Group Co. Ltd. and Siemens AG.
Other Prominent Vendors in the market are: China Chang Jiang Energy, GuangZhou SKODA-JINMA Turbine, Mitsubishi Hitachi Power Systems, Sokeo Power and Triveni Group.
Commenting on the report, an analyst from TechNavio’s team said: “One major trend observed is the market reaching the maturity stage. Thermal power generation is the most developed technology for power generation. High investment can be seen in technologies such as renewable energy sources and gas turbine-based thermal power plants.”
According to the report, increased demand for electricity because of the increase in population and industrialization is one of the key drivers of the market. Rapid industrial development in many developing countries has significantly increased the demand for power and is likely to continue in the coming years.
Further, the report states that one of the key challenges in this market is the increased emphasis on gas-fired power generation. The increased focus on reducing carbon emissions has forced several vendors and governments to shift focus from traditional power generation to alternative sources such as gas-fired power generation, which will help reduce carbon emissions.Alstom, Dongfang Electric Corporation (DEC) , Elliot Group, GE Energy, Hangzhou Steam Turbine , Harbin Turbine , Nanjing Turbine & Electric Machinery (Group) , Shandong Qingneng Power (QNP) , Shanghai Electric Group , Siemens , China Chang Jiang Energy, Doosan SkodaPower, GuangZhou SKODA-JINMA Turbine, Mitsubishi Hitachi Power Systems, Sokeo Power , Triveni Group
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