A turbo generator is an electric generator connected to the shaft of a steam turbine or gas turbine for the generation of electric power. Large steam-powered turbo generators provide the majority of the world's electricity and are also used by steam-powered turbo-electric ships. Small turbo-generators driven by gas turbines are often used as auxiliary power units (APU, mainly for aircraft).
The global turbo generator market is expected to grow at a significant rate in the forecast period. The increasing energy demand in the world, resulting in an increase in the number of power plants, is expected to drive the market during the forecast period. The inherent advantages that turbo generators provide, in addition to the ability to be connected directly to the electrical generator and the resulting lower operating costs, are factors spurring the turbo generator market. The increase in the demand for the continuous and stable power supply from various industries for continuous production and processing operations is expected to boost the turbo generator market growth.
The ˜Global Turbo Generator Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the turbo generator market with detailed market segmentation by type, cooling system, and end-users. The global turbo generator market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading turbo generator market players and offers key trends and opportunities in the market.
1. By Type: By type the global turbo generator market is bifurcated into Gas Turbine Generator, Steam Turbine Generator, and Water Turbine Generator.
2. By Cooling System: By cooling system the global turbo generator market is bifurcated into Air-Cooled, Water-Cooled, and Hydrogen-Cooled.
3. By End-User: By end-users the global turbo generator market is bifurcated into Coal Power Plants, Gas Power Plants, Nuclear Power Plants, and Others
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The turbo generator market by each region is later sub-segmented by respective countries and segments. The 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 turbo generator market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the turbo generator market in these regions.
IMPACT OF COVID 19
The outbreak of Covid-19 resulted in a temporary ban on import-export and disrupted the supply chain. Since the pandemic, the demand for electricity decreased as several industries temporarily closed their manufacturing factories. However, the demand for electricity is increasing due to government's declaration to resume power generation, which is expected to get the market back on track.
The report covers vital developments in the turbo generator 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 partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the turbo generator market are anticipated to have lucrative growth opportunities in the future with the rising demand for turbo generator in the global market. Below mentioned is the list of a few companies engaged in the turbo generator market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the turbo generator market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
1. Alstom SA
2. Andritz AG
3. Ansaldo Energia SpA
4. Dongfang Electric Corporation
5. Ebara Corporation
6. General Electric Company
7. Mitsubishi Heavy Industries, Ltd
8. Siemens AG
9. Suzlon Energy Ltd
10. Toshiba Corporation
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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to segments covered.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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to country scope.
3.Ansaldo Energia SpA
4.Dongfang Electric Corporation
6.General Electric Company
7.Mitsubishi Heavy Industries, Ltd
9.Suzlon Energy Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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