Turbine Market in Vietnam 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 Vietnam to grow at a CAGR of 17.7% over the period 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the turbine market in Vietnam for the period 2015-2019. Based on type, the market can be segmented into three: steam turbines, gas, and CCGT.
Technavio's report, Turbine Market in Vietnam 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 Vietnam 2015-2019
Technavio recognizes the following companies as the key players in the Turbine Market in Vietnam: Dongfang Electric, GE, Harbin and Siemens
Other Prominent Vendors in the market are: Alstom and Mitsubishi Heavy Electric
Commenting on the report, an analyst from Technavio’s team said: “Vietnam has significant potential for power generation sources. The country's power mix constitutes diversified power generation sources. Vietnam's master plan aims to tackle the country's growing power demand and ensure an increase in installed capacity and power generation. Owing to its diversified power mix, the country will not have to rely on a single power generation source. Vietnam also plans to add nuclear power into the power mix by 2020 and increase the renewable and thermal power shares in the overall installed capacity. The country is planning to import coal and coal resources from APAC countries such as Australia, Myanmar, and Indonesia. However, a decrease in coal imports may have slight impact on power demand.”
According to the report, Vietnam has abundant coal reserves that play a crucial role in ensuring power demand. Steam turbine-based generation is the backbone for power generation in the country. Most thermal power plants consist of sub-critical boilers that drive steam turbines to generate power; however, with the adoption of supercritical technology, there will be a considerable increase in power efficiencies and decreased CO2 emissions. With growing emphasis on reducing CO2 emissions, Vietnam is implementing supercritical technology in its power plants. So far, the country has commissioned three supercritical units and is projected to commission more in the near future.
Further, the report states that the country is heavily dependent on energy imports to meet the growing power demand. Therefore, reduction in imports curtails the installation of turbines.
Dongfang Electric, GE, Harbin, Siemens, Alstom, Mitsubishi Heavy Electric
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