The Global Steam Turbine Market To Reach $19 Billion By 2020, Finds New Report

The global steam turbine market is forecast to grow at a moderate rate, climbing from $14.1 billion in 2013 to $19 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 4.3%.

According to the latest report, the steam turbine market has been boosted by the increasing demand for electricity, caused by the growing global population and economic development.

In fact, power consumption is expected to increase from 19,133.2 terawatt-hours (TWh) in 2012 to 25,747.1 TWh by 2020, at a CAGR of 4.3%.

Analyst of this report, says: “Although the focus on renewables is increasing, it has so far been difficult to achieve a major shift towards alternative sources, because they are either uneconomical or incapable of generating sufficient power to meet demand.

“Furthermore, global coal reserves are much larger than oil and gas reserves, reaching almost 861 billion tons in 2012. Therefore, thermal power is still the dominant source of energy, and with clean coal technology gaining ground, the steam turbine market is set for steady growth in the future.”

China’s Harbin Electric Machinery Company has led the global steam turbine market for the last few years. In 2012, it accounted for a share of 20% in the 120-350 Megawatt (MW) segment and a 31% share in the 350-660 MW segment. Shanghai Electric Group Company and Dongfang Electric Corporation were the other two important Chinese players boasting considerable shares.

Scope

• The report provides detailed analysis of the steam turbine market in different countries. It’s scope includes the global market and the US, the UK, India, China, Saudi Arabia, Russia, Indonesia and Germany.
• Historical (2006–2012) and forecasted data (2013–2020) on the market revenues.
• Segmentation of the market by units sale and volume for steam turbines.
• Average prices for steam turbine for all countries.
• Steam turbine market drivers and restraints for these countries.
• Market share analysis of the key players for all the countries.

The report will enhance your decision making capability in a more rapid and time sensitive manner. It will allow you to -

• Facilitate decision-making based on historic and forecast data for steam turbine market revenues.
• Develop strategies based on the various market developments related to the steam turbine industry.
• Identify key partners and business development avenues based on the understanding of the market movements of the major competitors in the steam turbine market.
• Respond to your competitors’ business structure, strategy and prospects.

Spanning over 199 pages, 94 tables and 52 figures, “Steam Turbines in Thermal Power, 2013 Update - Global Market Size, Average Pricing, Equipment Market Share to 2020” report covering Introduction; Power Generation Market- Overview; Global - Power Industry Analysis 2000-2020; Global - Thermal Power Industry Analysis 2000-2020; Global Steam Turbine Market Analysis 2006-2020; US - Steam Turbine Market; China: Steam Turbine Market; India: Steam Turbine Market; Indonesia: Steam Turbine Market; Russia: Steam Turbine Market; Saudi Arabia: Steam Turbine Market; Germany: Steam Turbine Market.

Inquire about this report: http://www.marketresearchreports.com/globaldata/steam-turbines-thermal-power-2013-update-global-market-size-average-pricing-equipment

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