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Turbine Market in South Korea 2015-2019

Turbine Market in South Korea 2015-2019

About Turbine

A turbine is a mechanical device consisting of revolving rotors and blades that transform rotational energy into usable energy. The fluid used for the rotation can be steam, gas, or other combustion products such as CO2 and carbon monoxide. There are three types of turbines, namely steam turbines, gas turbines, and CCGT. Steam turbines extract thermal energy from steam and convert it into mechanical energy. Gas turbines are generally used in gas-fired power plants where an internal combustion engine is placed, in which the fuel is mixed with air and ignited. Because of the growing awareness about the environmental pollution caused by thermal power plants, most of the newly constructed gas-fired power plants are CCGT plants.

Technavio's analysts forecast the turbine market in South Korea to grow at a CAGR of 6.4% over the period 2014-2019.

Covered in this Report

The report includes the present scenario and the growth prospects of the turbine market in South Korea for the period 2015-2019. In terms of type, the market can be segmented into two: steam turbines and CCGT.

Technavio's report, Turbine Market in South Korea 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.Key Vendors

  • Alstom
  • Doosan Heavy Industries & Construction
  • GE
  • Mitsubishi Heavy Industries
  • Siemens
Other Prominent Vendors
  • ABB
  • Westinghouse
Key Market Driver
  • Adoption of Super Critical and Ultra-super Critical Technology
  • For a full, detailed list, view our report
Key Market Challenge
  • High Reliance on Energy Imports
  • For a full, detailed list, view our report
Key Market Trend
  • Increased Investments in Power Sector
  • For a full, detailed list, view our report
Key Questions Answered in this Report
  • What will the market size be in 2019 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Turbine Market in South Korea 2015-2019

Technavio recognizes the following companies as the key players in the Turbine Market in South Korea: Alstom, Doosan Heavy Industries & Construction, GE, Mitsubishi Heavy Industries and Siemens

The other prominent vendors are: ABB and Westinghouse

Commenting on the report, an analyst from Technavio’s team said: “Korea has the ninth largest power generation capacity, with coal being the major power generation source, followed by nuclear and gas. KEPCO is the largest state-owned power generation company, with a share of more than 80% of overall thermal installed capacity. Together with its subsidiaries and affiliates, KEPCO had a thermal installed capacity of 46,895.0 MW at the end of 2014. KEPCO is responsible for contributing more than 93% of power generation in 2014. KEPCO is Korea's only fully integrated electric utility and is the monopoly operator of the country's electricity transmission and distribution system.”

According to the report, the rapid growth in industrialization, the increasing population, and the partial shutdowns of major power plants in the country have led to increasing power demand in South Korea. It was observed that there has been an increase of 5% in the overall power consumption compared to the previous decade. With the efficiency of CCGT power plants and the capacity factor the coal-fired power plant yields, the major power demand is expected to be met by thermal power in South Korea. Additionally, the government of Korea has huge plans to increase coal-fired capacity in the future. In order to meet that expected coal demand, the country primarily relies on coal imports. The increasing number of coal-fired power plants is paving the way for increasing demand for coal reserves.

Further, the report states that one of the key challenges in this market is the complete reliance on imports.

Companies Mentioned

Alstom, Doosan Heavy Industries & Construction, GE, Mitsubishi Heavy Industries, Siemens, ABB, Westinghouse

  • Executive Summary
  • List of Abbreviations
  • Scope of the Report
    • Market Overview
    • Product Offerings
  • Market Research Methodology
    • Market Research Process
    • Research Methodology
      • Table Market Research Methodology
  • Key Highlights
    • Focus on Nuclear and Renewable Power Generation to Impact Fossil-fuelbased Turbines
    • Private Power Companies to Play Major Role in Increasing Installations
    • Reliance on Fossil Fuel Imports Likely to Affect Fuel Supply
    • Energy Plan to Boost Installations in South Korea
      • Table Fossil-fuel-based Installations in South Korea 2014-2019 (MW)
  • Introduction
    • Table Types of Turbine
    • Table Schematic Diagram of CCGT-based Power Plant
    • Table Schematic Diagram of Steam-turbine-based Power Plant
    • Table Schematic Diagram of Gas-turbine-based Power Plant
  • Market Landscape
    • Market Overview
    • Power Generation Market in South Korea
      • Table South Korea: Power Generation Mix 2013 and 2014
      • Table Power Generation in South Korea 2010-2013 (TWh)
    • Market Size and Forecast
      • Table Turbine Market in South Korea 2014-2019 (MW)
    • Five Forces Analysis
  • Market Segmentation by Type
    • Turbine Market in South Korea by Type 2014
      • Table Turbine Market in South Korea by Type 2014
    • Turbine Market in South Korea by Type 2019
      • Table Turbine Market in South Korea by Type 2019
      • Table Turbine Market in South Korea by Type 2014-2019
    • Steam Turbine market in South Korea
      • Market Size and Forecast
        • Table Steam Turbine Market in South Korea (MW)
      • Steam Turbine Market by Company
        • Table Steam Turbine Market by Power Companies 2015-2019 (MW)
        • Table Top Five Upcoming Coal-fired Power Plants by Power Company (MW)
    • CCGT Market in South Korea
      • Market Size and Forecast
        • Table CCGT Market in South Korea (MW)
      • CCGT Market by Company
        • Table CCGT Market by Power Company 2015-2019 (MW)
        • Table Top Five Gas-fired Power Plants by Power Company 2015-2019 (MW)
        • Table CCGT - Process Life Cycle
  • Buying Criteria
  • Market Growth Drivers
    • Table Bituminous Coal Demand in South Korea (million tonnes)
    • Table Upcoming Gas-fired Power Plants in South Korea
  • Drivers and their Impact
  • Market Challenges
    • Table Coal and Natural Gas Imports in South Korea (2010-2013)
  • Impact of Drivers and Challenges
  • Market Trends
  • Trends and their Impact
  • Vendor Landscape
    • Competitive Scenario
      • Key Vendors Snapshot
      • Key News
    • Other Prominent Vendors
  • Key Vendor Analysis
    • Alstom Power
      • Key Facts
      • Business Overview
      • Key Solutions
        • Table Alstom Power: Key Solutions
      • Geographical Presence
        • Table Alstom Power: Geographical Presence
      • Business Strategy
      • Recent Developments
      • SWOT Analysis
    • Doosan Heavy Industries & Construction
      • Key Facts
      • Business Description
      • Business Segmentation by Revenue
        • Table Doosan Heavy Industries & Construction: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2012 and 2013
        • Table Doosan Heavy Industries & Construction: Business Segmentation by Revenue 2012 and 2013 (US$ million)
      • Geographical Segmentation by Revenue 2013
        • Table Doosan Heavy Industries & Construction: Geographical Segmentation by Revenue 2013
      • Business Strategy
      • Key Developments
      • SWOT Analysis
    • General Electric
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2014
        • Table General Electric: Business Segmentation by Revenue 2014
      • Business Segmentation by Revenue 2013 and 2014
        • Table General Electric: Business Segmentation by Revenue 2013 and 2014 ($billion)
      • Geographical Segmentation by Revenue 2014
        • Table General Electric: Geographical Segmentation by Revenue 2014
      • Business strategy
      • Recent Developments
      • SWOT Analysis
    • Mitsubishi Heavy Industries
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2014
        • Table Mitsubishi Heavy Industries: Business Segmentation by Revenue 2014
      • Business s Segmentation by Revenue 2013 and 2014
        • Table Mitsubishi Heavy Industries: Business Segmentation by Revenue 2013 and 2014 (US$ billion)
      • Geographical Segmentation by Revenue 2014
        • Table Mitsubishi Heavy Industries: Geographical Segmentation by Revenue 2014
      • Business Strategy
      • Recent Developments
      • SWOT Analysis
    • Siemens Energy
      • Key Facts
      • Business Overview
      • Business Segmentation
        • Table Business Segmentation of Siemens Energy 2013
        • Table Business Segmentation of Siemens Energy by Revenue 2012 and 2013 (US$ billion)
      • Geographical Segmentation
        • Table Geographical Segmentation of Siemens Energy by Revenue 2013
      • Business Strategy
      • Key Information
      • SWOT Analysis
  • Other Reports in this Series

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