
Turbine Service Market Growth, Size, Trends Analysis- By Capacity, By End Use - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
Description
Turbine Service Market Introduction and Overview
According to SPER market research, ‘Global Turbine Service Market Size- By Capacity, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Turbine Service Market is predicted to reach 22.53 Billion by 2034 with a CAGR 2.75%.
A steam turbine is a device that converts thermal energy from steam into mechanical energy, which can then be used to generate electricity or power machinery. The process involves high-pressure steam passing over blades attached to a rotor, causing the rotor to spin. This spinning motion drives a generator or other equipment. Steam turbines are commonly used in power plants for electricity generation and in combined heat and power (CHP) systems for industrial heating.
Restraints:
The steam turbine market encounters various challenges that could impede its growth. A major hurdle is the high upfront cost of installation and maintenance, which can be a significant barrier for smaller power producers and industries. The increasing shift toward renewable energy sources, such as solar and wind, which do not require steam turbines, also poses a threat to market growth. Stricter environmental regulations aimed at reducing carbon emissions have contributed to a decline in coal-fired power plants, traditionally a key application for steam turbines.
Scope of the report:
Report Metric Details
Market size available for years 2021-2034
Base year considered 2024
Forecast period 2025-2034
Segments covered
By Capacity, By End Use
Regions covered
North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa
Companies Covered
Ansaldo Energia S.p.A, Bharat Heavy Electricals Limited, Doosan Å koda Power, Elliot Group, Fuji Electric Co., Ltd., General Electric, Kawasaki Heavy Industries, Ltd., MAN Energy Solutions, Mitsubishi Power Ltd., Siemens Energy, Toshiba Corporation, and Trillium Flow Technologies.
Global Turbine Service Market Segmentation:
By Capacity:
Based on the Capacity, Global Turbine Service Market is segmented as; Up to 150 MW, 151 to 300 MW, More than 300 MW.
By End-use:
Based on the End-use, Global Turbine Service Market is segmented as; Power & Utility, Industrial.
By Region:
This research also includes data for North America, Latin America, Asia-Pacific, Europe and Middle East & Africa.
According to SPER market research, ‘Global Turbine Service Market Size- By Capacity, By End Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Turbine Service Market is predicted to reach 22.53 Billion by 2034 with a CAGR 2.75%.
A steam turbine is a device that converts thermal energy from steam into mechanical energy, which can then be used to generate electricity or power machinery. The process involves high-pressure steam passing over blades attached to a rotor, causing the rotor to spin. This spinning motion drives a generator or other equipment. Steam turbines are commonly used in power plants for electricity generation and in combined heat and power (CHP) systems for industrial heating.
Restraints:
The steam turbine market encounters various challenges that could impede its growth. A major hurdle is the high upfront cost of installation and maintenance, which can be a significant barrier for smaller power producers and industries. The increasing shift toward renewable energy sources, such as solar and wind, which do not require steam turbines, also poses a threat to market growth. Stricter environmental regulations aimed at reducing carbon emissions have contributed to a decline in coal-fired power plants, traditionally a key application for steam turbines.
Scope of the report:
Report Metric Details
Market size available for years 2021-2034
Base year considered 2024
Forecast period 2025-2034
Segments covered
By Capacity, By End Use
Regions covered
North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa
Companies Covered
Ansaldo Energia S.p.A, Bharat Heavy Electricals Limited, Doosan Å koda Power, Elliot Group, Fuji Electric Co., Ltd., General Electric, Kawasaki Heavy Industries, Ltd., MAN Energy Solutions, Mitsubishi Power Ltd., Siemens Energy, Toshiba Corporation, and Trillium Flow Technologies.
Global Turbine Service Market Segmentation:
By Capacity:
Based on the Capacity, Global Turbine Service Market is segmented as; Up to 150 MW, 151 to 300 MW, More than 300 MW.
By End-use:
Based on the End-use, Global Turbine Service Market is segmented as; Power & Utility, Industrial.
By Region:
This research also includes data for North America, Latin America, Asia-Pacific, Europe and Middle East & Africa.
Table of Contents
250 Pages
- 1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
- 2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPER’s internal database
- 2.1.4. Premium insight from KOL’s
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
- 3. Executive Summary
- 4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
- 5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTER’s Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
- 6. Competitive Landscape
- 6.1. Global Turbine Service Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Turbine Service Market
- 7. Global Turbine Service Market, By Capacity, (USD Million) 2021-2034
- 7.1. Up to 150 MW
- 7.2. 151 to 300 MW
- 7.3. More than 300 MW
- 8. Global Turbine Service Market, By End-use, (USD Million) 2021-2034
- 8.1. Power & Utility
- 8.2. Industrial
- 9. Global Turbine Service Market, (USD Million) 2021-2034
- 9.1. Global Turbine Service Market Size and Market Share
- 10. Global Turbine Service Market, By Region, 2021-2034 (USD Million)
- 10.1. Asia-Pacific
- 10.1.1. Australia
- 10.1.2. China
- 10.1.3. India
- 10.1.4. Japan
- 10.1.5. South Korea
- 10.1.6. Rest of Asia-Pacific
- 10.2. Europe
- 10.2.1. France
- 10.2.2. Germany
- 10.2.3. Italy
- 10.2.4. Spain
- 10.2.5. United Kingdom
- 10.2.6. Rest of Europe
- 10.3. Middle East and Africa
- 10.3.1. Kingdom of Saudi Arabia
- 10.3.2. United Arab Emirates
- 10.3.3. Qatar
- 10.3.4. South Africa
- 10.3.5. Egypt
- 10.3.6. Morocco
- 10.3.7. Nigeria
- 10.3.8. Rest of Middle-East and Africa
- 10.4. North America
- 10.4.1. Canada
- 10.4.2. Mexico
- 10.4.3. United States
- 10.5. Latin America
- 10.5.1. Argentina
- 10.5.2. Brazil
- 10.5.3. Rest of Latin America
- 11. Company Profile
- 11.1. Ansaldo Energia S.p. A
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. Bharat Heavy Electricals Limited
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3. Product summary
- 11.2.4. Recent developments
- 11.3. Doosan Å koda Power
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. Elliot Group
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. Fuji Electric Co., Ltd.
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. General Electric
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. Kawasaki Heavy Industries, Ltd.
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. MAN Energy Solutions
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. Mitsubishi Power Ltd.
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. Siemens Energy
- 11.10.1. Company details
- 11.10.2. Financial outlook
- 11.10.3. Product summary
- 11.10.4. Recent developments
- 11.11. Toshiba Corporation
- 11.11.1. Company details
- 11.11.2. Financial outlook
- 11.11.3. Product summary
- 11.11.4. Recent developments
- 11.12. Trillium Flow Technologies
- 11.12.1. Company details
- 11.12.2. Financial outlook
- 11.12.3. Product summary
- 11.12.4. Recent developments
- 11.13. Others
- 12. Conclusion
- 13. List of Abbreviations
- 14. Reference Links
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.