Industrial Steam Turbines Market Size & Share | Industry Trends Analysis Report for End Of 2027

One of the most common uses of industrial steam turbine is for the production of electricity. At present, electricity generation for power requirement is usually sourced from fossil fuels such as coal & petroleum and also from renewable sources of energy such as solar energy to heat the water present in the boilers generating steam.

The demand for industrial steam turbines is on a growing curve owing to increasing power requirements, growing infrastructure developments, rapid industrialization, migration of large chunk of population from less developed to highly developed areas and growing human population.

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Industrial Steam Turbines Market Dynamics

Industrial steam turbines in comparison to other forms of power generation turbines are cheaper alternative for the production of low cost electricity when the source of power is fossil fuel, making it an attractive prospect for electricity production, thereby driving the growth of the market.

The problems associated with the exponential rate of depletion of non-renewable sources of energy compel the manufacturers of industrial steam turbines to manufacture more efficient and durable equipment leading to a healthy growth of the industrial steam turbine market. The expansion of nuclear based power generation and increasing setting up of nuclear power plants have influenced the growth of industrial steam turbines market.

One of the important factors that can come across as a roadblock for the growth of the industrial steam turbine market is the growing preference for gas turbines in power generating plants. This is due to increasing pressure from environmental activists on reducing the level of pollution caused by the steam turbines run by fossil fuels as well as being able to generate power through variety of fuel sources and being highly efficient.

Trends in the market include the increasing popularity of dual purpose industrial steam turbines wherein both heat and electricity are generated simultaneously for different purposes known as Combined Heat and Power (CHP) or Cogeneration as well as Trigeneration or Combined Cooling Heat and Power (CCHP). These special purpose industrial steam turbines are usually employed in manufacturing applications where heat is utilized.

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Industrial Steam Turbines Market: Regional Outlook

Rapid development in China and India in terms of infrastructure, industrialization and power requirement has led to high growth of industrial steam turbines market in the Asia Pacific region, while the growth of the market in Western Europe and North America is estimated to slowdown, owing to adoption of less polluting gas turbines.

Industrial Steam Turbines : Market Participants

Examples of some of the market participants identified in the Global Industrial Steam Turbines market are:

• Harbin Electric Machinery Co., Ltd.
• Dongfang Electric Corporation
• Elliott Group
• Kawasaki Heavy Industries Ltd.
• General Electric Company
• Siemens AG
• Mitsubishi Heavy Industries, Ltd.
• Toshiba America Energy Systems Corporation
• Ansaldo Energia s.p.a
• Peter Brotherhood Ltd.
• Fuji Electric Co., Ltd.
• Bharat Heavy Electricals Limited
• Doosan Škoda Power
• TGM Kanis Turbinen GmbH
• OJSC Power Machines

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

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The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico, Brazil and Rest of Latin America)
• Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
• Eastern Europe (Poland, Russia and Rest of Eastern Europe)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, and Rest of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies

Industrial Steam Turbines Market: Segmentation

By Rated Capacity, the Industrial Steam Turbines market can be segmented as:

• Less than 125 MW
• 125-300 MW
• 300-550 MW
• 550-750 MW
• Above 750 MW

By Type, the Industrial Steam Turbines market can be segmented as:

• Steam Cycle
• Combined Cycle
• Cogeneration
• Trigeneration

By Operating Principle, the Industrial Steam Turbines market can be segmented as:

• Reaction turbine
• Impulse turbine

By Exhaust Type, the Industrial Steam Turbines market can be segmented as:

• Condescending
• Extraction
• Back pressure
• Re-heat

By Power Source, the Industrial Steam Turbines market can be segmented as:

• Fossil Fuels
• Solar
• Others (Nuclear, etc.)

By Application, the Industrial Steam Turbines market can be segmented as:

• Power and Utility
• Industrial

Report Highlights:

• Detailed overview of parent market
• Changing market dynamics in the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• Competitive landscape
• Strategies of key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on market performance
• Must-have information for market players to sustain and enhance their market footprint