New reports explore the Industrial Steam Turbines Market
Global Industrial Steam Turbines Market: Overview
The steam turbines are used to convert the stored energy that is obtained from the high energy steam into other useful forms of energy such as mechanical and electrical energy. Most general use of the industrial steam turbine is the electricity generation.
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Global Industrial Steam Turbines Market: Segmentation
The global market for the industrial steam turbines is fragmented into its type, rated capacity, operating principle, exhaust type, power source, and application. Based on the type, the global market is segregated into combined cycle, trigeneration, steam cycle, and cogeneration. Based on the rated capacity, the market is categorized into less than 125 MW, above 750 MW, 300–550 MW, 125–300 MW, and 550–750 MW. Based on the operating principle, the market is divided into impulse turbine and reaction turbine. Based on the exhaust type, the market is bifurcated into condescending, reheat, extraction, and back pressure. Based on the power source, the market is segmented into solar, fossil fuels, nuclear, and others. Based on the application, the market is segregated into industrial and power and utility.
Global Industrial Steam Turbines Market: Growth Factors
The industrial steam turbines are a cheaper option when compared to the other power generating turbines. In this, the generation of the electricity is done at a low cost and source of the power is the fossil fuel, thus increasing its demand globally. The increasing rate of depletion of the non-renewable sources of energy is compelling the manufacturers of the industrial steam turbines to introduce new equipment that is more durable and efficient. This factor is further propelling the industrial steam turbines market to grow significantly. Other factors that are driving the industrial steam turbines market are growing number of the nuclear power plants and the growth of the power generation using the nuclear power. There are certain factors that are limiting the growth of the market which includes the growing preference of the gas turbines over industrial steam turbines and environmental issues that are being faced.
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Global Industrial Steam Turbines Market: Regional Analysis
According to the regional study, the global market for the industrial steam turbines is diversified into North America, Western Europe, Asia Pacific, the Middle East and Africa, Eastern Europe, and Latin America. The region that is experiencing a rapid development in the industrial steam turbines market is Asia Pacific region. The factors that are contributing to the market growth in Asia Pacific region are the significant development in the industrialization, infrastructure, and the power requirement has driven the global market. The market growth in regions such as North America and Western Europe is slowing down due to the increased adoption of the pollution free gas turbines.
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Global Industrial Steam Turbines Market: Competitive Players
The key market players that are involved in the industrial steam turbines market include Harbin Electric Machinery Co., Ltd., Elliott Group, General Electric Company, Mitsubishi Heavy Industries, Ltd., Ansaldo Energia S.P.A, Fuji Electric Co., Ltd., Doosan Škoda Power, OJSC Power Machines, Dongfang Electric Corporation, Kawasaki Heavy Industries Ltd., Siemens AG, Toshiba America Energy Systems Corporation, Peter Brotherhood Ltd., Bharat Heavy Electricals Limited, and TGM Kanis Turbine GmbH.
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