Steam Turbine Market demand was 65,999.7 MW in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 1% from 2021 to 2027.
Steam turbines act as an important part of a thermal power plant. Increasing batches of combined cycle power plants are expected to emerge as an important factor of market growth over the forecast period. Fossil fuel-based power generation sources have dominated the power sector globally due to their ability to provide base load power that has driven the steam turbine market in the past.
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Some of the prominent players in the steam turbine market include:
- General Electric
- Mitsubishi Hitachi Power Systems, Ltd.
- Siemens AG
- Ansaldo Energia
- MAN, Energy Solutions
Capacity Outlook
- <150 MW
- 151-300 MW
- >300 MW
End-use Outlook
- Power & Utility
- Industrial
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Scope of the Report
The research study analyzes the global Steam Turbines industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Steam Turbines Market Report
1. What was the Steam Turbines Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2021-2027).
- What will be the CAGR of Steam Turbines Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2018? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Steam Turbines Market was the market leader in 2018?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
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