Steam Turbine for Thermal Power, Update 2019 - Global Market Size, Average Price, Equipment Market Share and Key Country Analysis to 2023

NEW YORK, Oct. 23, 2019 /PRNewswire/ --

Steam Turbine for Thermal Power, Update 2019 - Global Market Size, Average Price, Equipment Market Share and Key Country Analysis to 2023

Read the full report: https://www.reportlinker.com/p05810694/?utm_source=PRN

Summary
The global steam turbine market registered a market value of US$9.25bn in 2018, primarily driven by growth in China. Despite a slowdown in capacity additions, the country will continue to lead the global market, followed by India, the US, Egypt and Vietnam, between 2019 and 2023. The increasing demand for uninterrupted power in developing countries such as China and India, and the rise in combined-cycle and cogeneration operations are set to drive the aggregate value of the global steam turbine market to US$36.70bn between 2019 and 2023.

Coal power generation is expected to gradually lose its prominence in power generation as countries across the world are aiming at cutting down dependence on coal and switching to renewable resources and natural gas for power generation to achieve climate targets and reduce carbon emissions. However, technological improvements and developments in thermal power such as carbon capture and storage, combined heat and power, and CCGT, and the discovery of shale gas will drive the thermal power market over the forecast period.

Asia-Pacific (APAC) was the largest market for steam turbines during the historical period (2014-2018) with an aggregate value of US$47.26bn. APAC will continue to lead the global market over the forecast period with an aggregate value of US$26.79bn. China was the top country for steam turbines with a market value of US$3.56bn in 2018. However, due to a mandatory target to reduce the coal-fired capacity, the country is set to witness a decline in market value to US$1.53bn by 2023.

Challenges such as increased focus on renewable energy sources and natural gas to move away from coal for cleaner energy, environmental regulations, land acquisition problems, non-availability of domestic coal in some countries and energy supply security issues continue to hinder the growth potential of the global steam turbines market. Governments' plans to add coal-fired capacity and the use of advanced technologies such as ultra-supercritical, supercritical and other clean coal technologies for existing and upcoming coal power plants are the major factors that will determine the future of installations globally.

The latest report "Steam Turbine for Thermal Power, Update 2019 - Global Market Size, Average Price, Equipment Market Share and Key Country Analysis to 2023", offers comprehensive information and understanding of the global steam turbines market. The report offers in-depth analysis of steam turbine market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, India, China, Republic of Korea, Vietnam, Indonesia, Saudi Arabia, the UK, Turkey, and Egypt) level.

The report analyzes the steam turbine market volume, value and average price for the historical (2013-2018) and forecast (2019-2023) period.The report covers the drivers and restraints affecting the steam turbine market, country-wise annual capacity additions, market value and average price, project case studies, key projects, and the competitive landscape for respective countries in 2018.

Profiles of major steam turbine manufacturers are also presented in this report.

Scope
The report analyses steam turbine market.

Its scope includes -
- Analysis of the growth of steam turbine market with a focus on market value and volume in global and regional level including Asia-Pacific, Americas, Europe, and Middle East and Africa.
- The report provides steam turbines market analysis for key countries including the US, India, China, Republic of Korea, Vietnam, Indonesia, Saudi Arabia, the UK, Turkey, and Egypt.
- The report offers country level steam turbine market size analysis with respect to market volume, value and average price for the historical (2013-2018) and forecast (2019-2023) periods.
- It provides competitive landscape at country level for the year 2018 and profiles of major players in steam turbines market.
- Annual additions, market value, key market drivers and restraints, and analysis of their impact in steam turbines market, project case studies, and key projects are also discussed.

Reasons to buy
The report will enhance your decision making capability in a more rapid and time sensitive manner.

It will allow you to -
- Facilitate decision-making by analyzing historical and forecast data on steam turbines market.
- Develop strategies based on developments in the steam turbines market.
- Identify key partners and business-development avenues, based on an understanding of the movements of the major competitors in the steam turbines market.
- Respond to your competitors' business structure, strategies and prospects.

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