Turbine Market in Thailand 2015-2019
A turbine is a mechanical device consisting of revolving rotors and blades, which transforms 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: steam, gas, and CCGT. Steam turbine extracts thermal energy from steam and converts it into mechanical energy. Gas turbine is 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 Thailand to grow at a CAGR of 4.2% over the period 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the turbine market in Thailand for the period 2015-2019. Based on type, the market can be segmented into two: steam turbines, gas turbines, and CCGT.
Technavio's report, Turbine Market in Thailand 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.
Technavio Announces the Publication of its Research Report – Turbine Market in Thailand 2015-2019
Technavio recognizes the following companies as the key players in the Turbine Market in Thailand: Alstom S.A, Dongfang Electric Corp., General Electric Corp. (GE), Shanghai Electric Ltd., and Siemens AG.
Other Prominent Vendors in the market are: Westing House and Mitsubishi Heavy Electric
Commenting on the report, an analyst from Technavio’s team said: “The development of privatization policy is a critical trend observed in this market. Even though the power companies in Thailand ensure a quality power supply, the power sector is showing distortions, thus the government has envisaged power sector reform in the country.”
According to the report, one driver that positively influences growth in this market is the increase in gas-fired power plants. The country has the 27th largest natural gas reserves in the world. The availability of domestic gas resources through limited domestic production and imports from other countries ensures a continuous gas supply to the power plants.
Further, the report states that the growing dependence on energy imports is a major challenge faced by this market. The country largely depends on energy imports to ensure power supply to the growing power demand. It imports almost 25% of its natural gas supply.
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