DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/7wmkgr/steam_turbines) has announced the addition of the "Steam Turbines Market - Global Trends and Forecasts to 2020" report to their offering.
The global steam turbine market is projected to grow at a CAGR of 4.4% from 2015 to 2020, to reach a market size of USD 19,292 Million by 2020. The growth is attributed to the continuing investments in electricity generation infrastructure, particularly in the large economies of Asia-Pacific region.
The report segments steam turbines market by fuel type, into coal, nuclear, biomass, and other. Steam turbines in coal power applications are expected to be the fastest growing segment during the forecast period. Coal fired power generation continues to remain one of the most affordable option for developing economies in the world, particularly in Asia-Pacific. Moreover, there is sufficient supply of coal for usage as fuel, while other options such as natural gas require creation of new infrastructure for its import and use.
In this report, the steam turbines market has been categorized on the basis of exhaust type into condensing and non-condensing. Condensing steam turbines are the most widely used type, largely due to its higher efficiency and the ability to produce more electricity at comparatively lower operational cost. The market for condensing turbines is also projected to grow at a faster pace than non-condensing ones, particularly due to demand from the large capacity thermal power plants.
Asia-Pacific is the leading market for steam turbines in 2014 with strong demand from China and India. It is also projected to be the fastest growing market with CAGR of 5% during the forecast period. China is expected to be the fastest growing market for steam turbines across the world, followed by India, with a CAGR of 5.7% and 5.5% during the forecast period respectively. These countries account for around 60% of the global thermal power capacity additions projected for the next five years helping drive the market for steam turbines.
Regulatory and policy restrictions on fossil-fuel fired power plants can however, restrain the growth of the steam turbines market. Growing concerns about the negative impact of carbon emissions on climate and consequent measures by regional and country level policies such as capping the amount of emissions acceptable from these plants have led to retirements of existing plants as well as shelving of future construction in favor of other options, even if they are more costly.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Steam Turbines Market, By Type
7 Steam Turbines Market, By Rated Capacity
8 Steam Turbines Market, By Exhaust Type
9 Steam Turbines Market, By Application
10 Steam Turbines Market, By Region
11 Competitive Landscape
12 Company Profiles
- Alstom SA
- Ansaldo Energia S.P.A.
- Bharat Heavy Electricals Limited
- Dongfang Electric Corporation Limited
- Doosan Skoda Power
- Eliott Group
- Fuji Electric Co., Ltd.
- General Electric Company
- Harbin Electric International Company Limited
- Man Diesel & Turbo SE
- Mitsubishi Hitachi Power Systems, Ltd.
- Shanghai Electric Group Co. Ltd.
- Siemens AG
- Toshiba Corporation
For more information visit http://www.researchandmarkets.com/research/7wmkgr/steam_turbines