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Oct 13, 2020 12:46 AM ET

Steam Turbine Market to Set New Growth Cycle | General Electric (GE) Co., Turbine Generator Maintenance Inc., Toshiba Corporation


iCrowd Newswire - Oct 13, 2020

Steam Turbine Market by Design (Reaction and Impulse) and Application (Power generation, Petrochemical, Oil & Gas and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Steam Turbine market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Steam Turbine market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region

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Key Segments Studied in the Global Steam Turbine Market

The global steam turbine market was valued at $24.1 billion in 2019 and is projected to reach $30.2 billion by 2027, growing at a CAGR of 2.8% from 2020 to 2027. Steam turbine converts the thermal energy into mechanical energy by using high temperature steam. Steam turbines has high rotational speed and proficiency and are generally utilized in petrochemical businesses, pharmaceuticals ventures, and paper plants. It is mostly used for power generation in these applications.

Steam Turbine Market

The steam turbine market is expected to encounter development attribute to increase in thermal power generation and rise in demand for electric supply. Steam turbine is comprehensively characterized into impulse turbine and Reaction turbine. Impulse turbines have fixed nozzles, which set the steam flow into high speed jets. They also absorb high velocity and high pressure. Reaction turbines are efficient at lower pressure stage. Under high pressure stage, pressure spillage is seen around sharp edge tips. Steam turbine is used for both, industrial as well as domestic application and its capacity varies from 100kW to over 250MW.

Rapid industrialization and power demand in developing countries are factors expected to boost the growth of the steam turbine market. Other factors that drive the steam turbine market includes efficient power supply for both residential as well as industrial sectors. Steam turbines can use a variety of natural sources such as biomass and coal for steam generation. This factor is further expected to propel the market growth. Proficiency of small steam turbines is relatively poor, which limits the market development. Accomplishment of cleaner process for control age of steam turbine is another open-door opportunity of growth, which will help the steam turbine market to propel worldwide.

The steam turbine market is fragmented based on design, application, and region. In view of design, the market is bifurcated into impulse and reaction. In terms of application, the market is fragmented into power generation, petrochemical, industrial and others. Geographically, the market is examined crosswise over North America, Europe, Asia-Pacific, and LAMEA.

The key players involved in the market includes General Electric (GE) Co., Turbine Generator Maintenance Inc., Toshiba Corporation, Siemens AG, Arani power systems , Elliott Group, TURBOCAM, Doosan Škoda Power, Chola Turbo Machinery International Pvt. Ltd. and Mitsubishi Hitachi Power Systems Americas Inc.

KEY BENEFITS FOR STAKEHOLDERS

– Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.

– It outlines the current trends and future scenario of the steam turbine market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.

– Major countries in four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA have been mapped according to their individual revenue contribution to the regional market.

– The key drivers, restraints, and Steam turbine market opportunities and their detailed impact analysis are elucidated in the study.

– The profiles of key players along with their key strategic developments are enlisted in the report.

Professional Key players: 

Sulzer Ltd,   Mitsubishi Hitachi Power Frameworks Americas Inc.,   Turbine Generator Support Inc.,   Hyundai Substantial Businesses Ltd.,   JSW Power Frameworks Private Ltd,   Elliot Gathering,   Ansaldo Energia and Kessels Steam Turbines. In order to stay competitive,   these market players are adopting different strategies such as design launch,   partnership,   expansion,   merger and acquisition. In an instance,   on June 2019 – Mitsubishi Hitachi Power Systems,   Ltd. has expanded its designing of power system by opening a new facility in Philippines. MHPS-(Philippines) Plant Services Corporation ,   a new company was opened to offer services for power generation facilities in the Philippines.

Market Segmentation:
Steam Turbine Market

By Design (Reaction and Impulse)

By  Application (Power Generation, Petrochemical, Oil & Gas and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.

 A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario Market Behavior/ Level of Risk and Opportunity End Industry Behavior/ Opportunity Assessment Expected Industry Recovery Timeline Business Impact Horizon
Opening of Economy by Q3 2020 xx xx xx xx
Recovery – Opening of Economy extended till Q4 2020 / Q1 2021 xx xx xx xx

 Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

Countries: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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The study objectives of this report are:

The Study Explore COVID 19 Outbreak Impact Analysis

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Key Points Covered in Steam Turbine Market Report:

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Steam Turbine market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Steam Turbine  Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

……..and view more in complete table of Contents

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