Steam Turbine For Power Generation Market Overview, Growth, and Trends (2021-2031)

MARKET INTRODUCTION

A mechanical device which helps in the extraction of thermal energy from steam and converts the same into power is called as steam type. The three major type of steam time includes cogeneration, steam cycle, and combined cycle. Developing countries such as India and China are the major consumers of steam turbine for power generation applications.

MARKET DYNAMICS

The increasing demand for alternative energy source for power generation across the globe to reduce the carbon footprint is contributing to the growth of the global steam turbine for power generation market. Additionally, the stringent government regulation against fossil fuel power plants is further expected to augment the growth of the market.

MARKET SCOPE

The "Global Steam Turbine for Power Generation Market Analysis To 2031" is a specialized and in-depth study of the technology, media, and telecommunications industry with a special focus on global market trend analysis. The steam turbine for power generation market report aims to provide an overview of the steam turbine for power generation market with detailed market segmentation by type, capacity, application, and geography. The global steam turbine for power generation market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading steam turbine for power generation market player and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global steam turbine for power generation market is segmented based on type, capacity, application. Based on type, the steam turbine for power generation market is segmented into Steam cycle, combined cycle, cogeneration. Based on capacity, the steam turbine for power generation market is segmented into 1-120 Mw, 121-350 Mw, 351-750 Mw, Above 350 Mw. Based on application, the steam turbine for power generation market is segmented into coal, biomass, nuclear, others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global steam turbine for power generation market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The steam turbine for power generation market by each region is later sub-segmented by respective countries and segments. The steam turbine for power generation market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the steam turbine for power generation market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the steam turbine for power generation market in these regions.

IMPACT OF COVID-19 ON STEAM TURBINE FOR POWER GENERATION MARKET

The sudden outbreak of the COIVD-19 pandemic negatively impacted the growth of the global steam turbine for power generation market. The demand for power generation declined significantly from the commercial and industrial sector owing to strict lockdown imposed by government bodies which affect the demand side of the market. Additionally, the stringent lockdown imposed by various government bodies across impacted the steam turbine for power generation manufacturers thereby impacting the growth of the global steam turbine for power generation market from the supply side as well.

MARKET PLAYERS

The reports cover key developments in the steam turbine for power generation market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from steam turbine for power generation market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the steam turbine for power generation market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the steam turbine for power generation market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Alstom SA
  
•   Siemens AG
  
•   Toshiba Corporation
  
•   General Electric Company
  
•   Mitsubishi Hitachi Power Systems, Ltd.
  
•   Eliott Group
  
•   Shanghai Electric Group Co. Ltd.
  
•   Doosan Skoda Power
  
•   Fuji Electric Co., Ltd.
  
•   Dongfang Electric Corporation Limited
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Steam Turbine For Power Generation Report Scope